Valuation Technical Design Doc v 1.0

8/6/2019 Valuation Technical Design Doc v 1.0

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NorthShore SystemsProject: Freddie Mac Phase 2.1 Underwriting

Technical DocumentValuation

VALUATION REVISION HISTORY

y DNP Level: changed to Property Level per Mike (04/07/09)

Table of Contents

y Valuation List Gridy Valuationy Market Infoy Appraisal Property Infoy Amenitiesy Construction Analysisy Location Analysis/Location Qualitiesy Certificate of Property Conditiony Property Performancey Sales Compsy RentComps


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Functional Specification

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FRE valuation functional design doc v1.6.

Notes For Programmers (Must read this first)

This project includes the following items (iFrames) all are on one screen with collapsable/expandable frames.

1. Valuation2. Market Info3. Appraisal Property Info4. Amenities5. Construction Analysis6. Location Analysis/Location Qualities7. Certificate of Property Condition8. Property Performance9. Sales Comps10.RentComps

In our current system, these are individual screensin differentVS.Net projects. We want to combine them to one screenin one VS.Net 2010 project, called ValuationC:\Inetpub\wwwroot\NS\Valuation\Main.aspx,ValuationList.aspx,Valuation.aspx, MarketInfo.aspx, etc

Valuation List grid is a very top grid. This grid is driven by PIPE_DEAL_APPRAISAL_LL AND PIPE_APPRAISAL, and eachrow should have an Appraisal_ID. Selecting a row in this grid should reload each frame with the Appraisal_ID andDeal_ID.

Since the screens (1..10) are existing ones, you can copy it from projects as shown below. Then,make additionalchanges as stated (in yellows) in the rest of this document.

iFrame Names Project Name where to get the code (FTP - 6/2/2011 folder) My Comments:

1.

Valuation Valuation (2003 prj) C:\Inetpub\wwwroot\Valuation\NS\Valuation\Valuation.aspx

2. Market Info MarketData(2010 prj) C:\Inetpub\wwwroot\MarketData\NS\MarketData\

Market.aspx

we sent youMarket Data screen

requirement on 6/1/2011 for

stand alone screen. Copy that

screen and put it in iframe on this

combined Valuation screen. So

we want a stand-aloneMarket

Data screen (6/1/2011) and also

in iFrame on Valuation screen

(6/2/2011)

3. Appraisal Property Info Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\PropertyInfo

4. Amenities Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\Amenities

5. Construction Analysis Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\Co

nstructionAnalysis6. Location Analysis/Location Qualities Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\Loc

ationAnalysis

7. Certificate of Property Condition Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\PropertyConditions\PropertyConditions.aspx

8. Property Performance Appraisal2 C:\Inetpub\wwwroot\Appraisal2\NS\Appraisal2\Pro

pertyPerformance

9. Sales Comps CompSalesRent C:\Inetpub\wwwroot\CompSalesRent\NS\Appraisal

\CompSale

Appraisal2 project also has this

SalesComps, but don't use it.

Copy the one from

CompSalesRent prj.


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10. RentComps CompSalesRent C:\Inetpub\wwwroot\CompSalesRent\NS\Appraisal\CompSalesRent

Appraisal2 project also has this

SalesComps, but don't use it.

Copy the one from

CompSalesRent prj.

Additional Notes: (for standard feature of the grids, adding rows, deleting rows, confirmation message for deleting rows,etc should all be consistent. See Market Data project document)

y There must be only Active (checked) allowed in Valuation List.y Active Valuation cannot be deleted.y Valuation List grid is a View-only grid.y In Valuation List grid, background color/Font style ofActive checked row should be:

o All rows backcolor="#E1E1E1"

o If the Active_YN = Y row Color.FromName("#0033CC") and bold


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VALUATION

Total # ofRequirements:

D N P L e v e l

The Valuation screen is a Property Level screen.The Security Matrix will have thesecurity at a Frame Level for all parentframes and the 3 sub frames under Valuation List grid the buttons will also be included. (Security Matrix is not HOBOsitem)

R e q u i r e m e n t D e s c r i p t i o n

The Valuation screen is a new screen that has been added to OUS to accommodate multiple valuations for a property.The Valuation and Sales Comps screens have been modified into frames beneath this Valuation screen.


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S c r e e n D e s i g n

Valuation Screen:

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ The frames below are also part of the consolidation of the pages. The frames below need to have ++ the capability to turn them off, IE: make them invisible. We will be using the table ++ T_Application_Rule_Lkup. An entry will be made for each frame below. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Appraisal Property Info:Market Info Frame:

Amenities:Construction Analysis:

Location Analysis/Location Qualities:Certificate of Property Condition:Property Performance:

If the Active_YN = Y, then the corresponding frame should be visible, otherwise it should be hidden (including the +/-icon of the collapsable/expandable frame) . You can hardcode the ID 316 to 322 for each frame as shown below.For example, if there is no row for ID 316, thats the same as Active_YN = N.

After you copy the code (as stated above in Programmer Notes section), compare the screens against the screen shotsbelow, the yellows mostly indicate the additional changes.


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Valuation Frame:(For Yellow markings below, the frame labels have been renamed)

New fieldset for Valuation

List Grid update


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Market Info Frame:

Appraisal Property Info:


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Amenities:

Construction Analysis:


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Location Analysis/Location Qualities:

Certificate of Property Condition:

Property Performance:


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Sales Comps:


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Rent Comps:


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D a t a R e q u i r e m e n t s

ValuationList

Gap FieldREQ_#

Table Name Table FieldFieldType

Active PIPE_APPRAISAL Active_YNCheckbox

ValuationType

PIPE_APPRAISAL_TYPE_LKUP Appaisal_Type_Lkup_IDDrop-Down

ReportDate

PIPE_APPRAISAL Report_DtNumeric(Date)

ValuationEffectiveDate

Numeric(Date)

Firm NameUpdate PIPE_LEDGER (ThirdParty) Always bring in the active.

SELECT PIPE_ENTITY.First_Name,PIPE_ENTITY.Last_Name,PIPE_ENTITY.ID

FROM PIPE_ENTITY INNER JOINPIPE_ENTITY_TYPE_LL

ON PIPE_ENTITY.ID =PIPE_ENTITY_TYPE_LL.ENTITY_IDWHERE(PIPE_ENTITY_TYPE_LL.LEDGER_TYPE_LKUP_ID = 1)

Drop-Down

ContactName

SELECT First_Name, Last_Name,Entity_IDFROM PIPE_ENTITY_CONTACTWHERE (Entity_ID = ID SelectedAbove)

Drop-Down

MAICertified PIPE_APPRAISAL MIA_Certified_YN

Checkbox

FIRREAAppraisal

PIPE_APPRAISAL FIRREA_Appraisal_YNCheckbox

Valuation

Gap Field REQ_#TableName

TableField

Field Type Comments

FINAL VALUATION

Final Cap Rate As-Is REQ_4619 calculated numeric ($)Calculation:As Is Final Value/As IsFreddie Mac NOI

Final Cap Rate As-Stabilized REQ_4619 calculated numeric ($)Calculation:As Stabilized Final Value/AStabilized Freddie Mac NOI

Final Value Per Sq. Ft. As- Is REQ_4621 calculated numeric ($)Calculation:As Is Final Value/ Total SqFt. of Property

Final Value Per Sq. Ft. As-Stabilized REQ_4621 calculated numeric ($) Calculation:As Stabilized FinalValue/Total Sq. Ft. of Property

Final Value Per UnitAs- Is REQ_4620 calculated numeric ($)Calculation:As Is Final Value/Total # Units

Final Value Per UnitAs-Stabilized REQ_4620 calculated numeric ($)Calculation:As Stabilized FinalValue/Total # of Units

Final Valuation As- IsREQ_481

BR.771calculated numeric ($)

Calculation: Minimum of (As Is Apprai

Property Value,As Is FRE UW PropertyValue)

Final Valuation As-StabilizedREQ_481BR.772

calculated numeric ($)Calculation: Minimum of (As StabilizedAppraisal Property Value,As Stabilized F


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UW Property Value)

Comments CR-new text

AppraisalDetails

Active

PIPE_APPRAIS

AL

Active_YN Checkbox

Valuation Type Drop-Down

Report Date

PIPE_APPRAIS

AL

Report_DtNumeric(Date)

Firm Name Drop-Down

Contact Name Drop-DownBlank (Default)Will be based on the contact associatedwith the firm in entity maintenance.

MAI Certified Checkbox

FIRREAAppraisal Checkbox

DIRECT CAP VALUATION

Appraisal Company REQ_4360 drop-down

Report Date

REQ_1336REQ_3922

PIPE_A

PPRAISAL

Report_Dt date

APPRAISAL TYPE

As-Is REQ_4850PIPE_APPRAISAL_VALUATION

AS_Is_Only_YN

radio button

As-Is and As-Stabilized REQ_4850

PIPE_APPRAISAL_VALUATION

AS_Is_Only_YN

radio button

RESIDENTIAL APPRAISALREQ_4348REQ_4357

NOI As- IsREQ_1341REQ_3970

PIPE_APPRAISAL_VALUATION_CALCULATION

S

RA_NOI_Amt

numeric ($)

NOI As-StabilizedREQ_1341REQ_3970

PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RA_NOI_A

mtnumeric ($)

Cap Rate As- IsREQ_1340REQ_3969

PIPE_APPR

AISAL_VALUATION_CALCULATIONS

RA_Cap_Rate_Pct

numeric ($)

Cap Rate As-StabilizedREQ_1340REQ_3969

PIPE_APPRAISAL_VALUATION_CALCULATIONS

RA_Cap_Rate_Pct

numeric ($)

Appraisal Value As- IsREQ_1339REQ_3968

PIPE_APPRAISAL_VALUATION_CA

LCULATIONS

RA_Appraisal_Value_A

mt

numeric ($)

Appraisal Value As-StabilizedREQ_1339REQ_3968

PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RA_Apprais

al_Value_Amt

numeric ($)

Value Per Sq. Ft. As- Is REQ_1084 Calculated RA_Value_S numeric ($) Calculation: AsIs Residential Appraisal


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REQ_4055 PIPE_APPR


q_Ft_amt Value /Total Residential Square Footage

Value Per Sq. Ft. As-Stabilized REQ_1084REQ_4055

CalculatedPIPE_APPR

AISAL_VALUATION_CA

LCULATIONS

RA_Value_Sq_Ft_amt

numeric ($) Calculation: As Stabilized ResidentialAppraisal Value /Total Residential SquarFootage.

Value Per UnitAs- IsREQ_468REQ_4055

CalculatedPIPE_APPRAISAL_VALUATION_CALCULATIONS

RA_Value_Unit_Amt

numeric ($)Calculation: As-Is Residential AppraisaValue /Total Number ofResidential Unit

Value Per UnitAs-StabilizedREQ_468REQ_4055

CalculatedPIPE_APPRAISAL_VALUATION_CA

LCULATIONS

RA_Value_Unit_Amt

numeric ($)Calculation: As Stabilized ResidentialAppraisal Value /Total Number ofResidential Units

COMMERCIAL APPRAISALREQ_4347REQ_4357



CA_NOI_Amt

numeric ($)



LCULATIONS

CA_NOI_A

mtnumeric ($)


PIPE_APPR

AISAL_VALUATION_CA

LCULATIONS

CA_Cap_Rate_Pct

numeric ($)



CA_Cap_Rate_Pct

numeric ($)



CA_Appraisal_Value_Amt

numeric ($)


PIPE_APPRAISAL_VAL

UATION_CALCULATION

S

CA_Apprais

al_Value_Amt

numeric ($)

Value Per Sq. Ft. As- IsREQ_4359REQ_4055

calculatedPIPE_APPRAISAL_VALUATION_CA

LCULATIONS

CA_Value_Sq_Ft_Amt

numeric ($)

Calculation:As Is Commercial AppraisValue/Total Commercial Square Footage

CA_Appraisal_Value_Amt / SUMPIPE_RENT_ROLL_DETAIL.SQFT For thactive rent roll Where

PIPE_RENT_DETAIL.Tenant_Type_Lkup= 2

Value Per Sq. Ft. As-Stabilized REQ_4359 calculated CA_Value_S numeric ($) Calculation:As Stabilized Commercial


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REQ_4055 PIPE_APPR


q_Ft_Amt Appraisal Value/Total CommercialSquareFootage.

CA_Appraisal_Value_Amt / SUMPIPE_RENT_ROLL_DETAIL.SQFT For thactive rent roll WherePIPE_RENT_DETAIL.Tenant_Type_Lkup

= 2

COMBINED APPRAISAL VALUE REQ_4349


calculatedPIPE_APPRAISAL_VAL

UATION_CALCULATIONS

CAV_NOI_Amt

numeric ($)

Calculation:As Is Residential NOI + ACommercial NOI.

= RA_NOI_Amt + CA_NOI_Amt


calculatedPIPE_APPRAISAL_VALUATION_CALCULATIONS

CAV_NOI_Amt

numeric ($)

Calculation:As Stabilized Residential N+ As Stabilized Commercial NOI.

= RA_NOI_Amt + CA_NOI_Amt



CAV_Cap_R

ate_Pctnumeric ($)

Calculation:As Is Property NOI /As IsAppraisal Property Value.

CAV_NOI_Amt / CAV_Appraisal_Value_A


calculated


CAV_Cap_Rate_Pct

numeric ($)

Calculation:As Is Property NOI /AsStabilized Appraisal Property Value.

CAV_NOI_Amt / CAV_Appraisal_Value_A


calculatedPIPE_APPRAISAL_VAL

UATION_CA

LCULATIONS

CAV_Appraisal_Value_Amt

numeric ($)

Calculation:As Is Residential AppraisaValue + As Is Commercial Appraisal Val

RA_Appraisal_Value_Amt +

CA_Appraisal_Value_Amt



CAV_Appraisal_Value_Amt

numeric ($)

Calculation: As Stabilized ResidentialAppraisal Value + As Stabilized CommerAppraisal Value.

RA_Appraisal_Value_Amt +CA_Appraisal_Value_Amt

Value Per UnitAs- Is REQ_468Pipe_Apprai

sal

Direct_Cap

_Valuenumeric ($)

Calculation: As Is Appraisal Value(Combined) divided by Total Residentia

Units

Value Per unitAs-Stabilized REQ_468Pipe_Appraisal

Direct_Cap_Value

numeric ($)Calculation: As Stabilized Appraisal Va(Combined) divided by Total ResidentiaUnits

COST APPROACH

Improvements CostREQ_7901REQ_7902

PIPE_APPRAISAL

Improvement_Cost_Am

tnumeric ($)

Land ValueREQ_7899REQ_7900

PIPE_APPRAISAL

Land_Value_Amt

numeric ($)

ValueREQ_7903REQ_7904

Pipe_Appraisal

Cost_App_V

aluenumeric ($)

Value Per Unit REQ_7905Pipe_Appraisal

Cost_App_Value_Per_Unit_Amt

numeric ($)Calculation: Value per Unit = (CostApproach:Value) / Total Residential Un

APPRAISED VALUE


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Appraised Value As- IsPipe_Apprai

sal

Final_recon

_Valuenumeric ($)

Appraised Value As-StabilizedPipe_Appraisal

Stabilized_Value_Amt

numeric ($)

Value Date As- IsREQ_7884REQ_7885REQ_7886

Pipe_Appraisal

Value_As_Is_Dt

numeric(date)

Value Date As-StabilizedREQ_7887REQ_7888REQ_7889

Pipe_Appraisal

Value_As_Stabilized_DT

numeric(date)

Appraised Value Per UnitAs-Is

Calculated

Pipe_Appraisal

Appraised_Value_Per_Unit_As_Is_Amt

numeric ($)Calculation:As Is Appraised Value divby Total Residential Units

Appraised Value Per UnitAs-Stabilized

CalculatedPipe_Appraisal

Appraised_Value_Per_

Unit_As_Stabilized_Amt

numeric ($)Calculation:As Stabilized Appraised Va

divided by Total Residential Units

MARKET APPROACH


Pipe_Appraisal

Sales_Comp_Value

numeric ($)

Value Per Unit REQ_7910

Pipe_Apprai

sal

Sales_Value

_Per_Unit_Amt numeric ($)

Calculation:

Value Per Unit = (Sales ComparisonApproach:Value) / (Total Residential Un

INSURABLE VALUE


Pipe_Appraisal

Insurable_Value

numeric ($)

Value Per Unit REQ_7916Pipe_Appraisal

Insurable_Value_Per_Unit_Amt

numeric ($)Calculation:

Insurable Value Per Unit =(Insurable Value) / Total Residential Un

CommentsPIPE_APPRAISAL_VALUATION

Appraisal_Valuation_Comments

text

FREDDIE MAC VALUATION

Separate Commercial Valuation?Pipe_Appraisal

Separate_Commercial_Valuation_YN

checkbox

RESIDENTIAL VALUATION REQ_1050

NOI As- Is REQ_3801


RV_NOI_Amt

numeric ($)

BR.2390Residential NOI must be calculated as thdifference between NOI(total) andCommercial NOI.

Mapped: IfSeparate CommercialValuation = checked, field will map to AResidential NOI from FRE Proforma

Mapped: IfSeparate CommercialValuation = not checked, field will map As-Is (total) NOI from FRE Proforma

NOI As-Stabilized REQ_3801

PIPE_APPR


RV_NOI_Amt

numeric ($)

Mapped: IfSeparate CommercialValuation = checked, field will map to AStabilized Residential NOI from FRE

Proforma

Mapped: IfSeparate CommercialValuation = not checked, field will map As-Stabilized (total) NOI from FREProforma


PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RV_Cap_Rate_Pct

numeric ($)


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PIPE_APPR


RV_Cap_Rate_Pct

numeric ($)

UW Cap Rate As- Is REQ_884REQ_4057

CalculatedPIPE_APPR

AISAL_VALUATION_CA

LCULATIONS

RV_UW_Cap_Rate_Pct

numeric ($)

Calculation: As Is Freddie MacResidential NOI divided by As Is FreddieMac Underwritten Residential Value.

UW Cap Rate As-StabilizedREQ_884REQ_4057


RV_UW_Cap_Rate_Pct

numeric ($)

Calculation: As-Is Freddie MacResidential NOI divided by As-Is FreddieMac Underwritten Residential Value.

Value As- IsREQ_882REQ_4057


LCULATIONS

RV_Value_Amt

numeric ($)Calculation: As-Is Freddie MacResidential NOI/As-Is Cap Rate

Value As-StabilizedREQ_882REQ_4057


RV_Value_Amt

numeric ($)Calculation: As-Stabilized Freddie MacResidential NOI/ As-Stabilized Cap Rate

UW Value As- IsREQ_883REQ_3975


RV_UW_Value_Amt

numeric ($)

UW Value As-StabilizedREQ_883REQ_3975


LCULATION

S

RV_UW_Value_Amt

numeric ($)

UW Value/Sq. Ft. As- IsREQ_1054REQ_4057


RV_UW_Value_Sqft_Amt

numeric ($)

Calculation: IfSeparate CommercialValuation = checked,As-Is FRE UWResidential Value/Total Residential Sq. F

Calculation: IfSeparate CommercialValuation = not checked,As-Is FRE UWResidential Value/Total Sq. Ft.

UW Value/Sq. Ft. As-StabilizedREQ_1054REQ_4057

CalculatedPIPE_APPR


RV_UW_Val

ue_Sqft_Amt

numeric ($)

Calculation: IfSeparate CommercialValuation = checked,As-Stabilized FRE UResidential Value/Total Residential Sq. F

Calculation: IfSeparate CommercialValuation = not checked,As-Stabilized FUW Residential Value/Total Sq. Ft.

UW Value/UnitAs- IsREQ_1053REQ_4057

CalculatedPIPE_APPR

AISAL_VALUATION_CA

LCULATIONS

RV_UW_Value_Per_Uni

t_Amt

numeric ($)

Calculation: IfSeparate Commercial

Valuation = checked,As-Is FRE UWResidential Value/Total # Residential Un

Calculation: IfSeparate CommercialValuation = not checked,As-Is FRE UWResidential Value/Total # Units

UW Value/UnitAs-StabilizedREQ_1053REQ_4057

CalculatedPIPE_APPRAISAL_VALUATION_CALCULATION

RV_UW_Value_Per_Unit_Amt

numeric ($)

Calculation: IfSeparate CommercialValuation = checked,As-Stabilized FRE UResidential Value/Total # Residential Un

Calculation: IfSeparate Commercial


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S Valuation = not checked,As-Stabilized F

UW Residential Value/Total # Units

COMMERCIAL VALUATION REQ_1411

NOI As- Is REQ_3804

PIPE_APPR

AISAL_VALUATION_CALCULATION

S

CV_NOI_Amt

numeric ($)

Mapped: display from fre proforma

there are rules around what gets displaydepending on the separate commercialvaluation indicator. refer to req_3804 fo

details.



CV_NOI_Amt

numeric ($)

Mapped: display from fre proformathere are rules around what gets displaydepending on the separate commercialvaluation indicator. refer to req_3804 fo

details.



LCULATIONS

CV_Cap_Rate_Pct

numeric ($)



CV_Cap_Ra

te_Pctnumeric ($)

UW Cap Rate As- IsREQ_1412REQ_4058

Calculated


CV_UW_Cap_Rate_Pct

numeric ($)Calculation: FRE As-Is CommercialNOI/FRE As-Is UW Commercial Value

UW Cap Rate As-StabilizedREQ_1412REQ_4058

CalculatedPIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RV_UW_Ca

p_Rate_Pct

numeric ($)

Calculation: FRE As-StabilizedCommercial NOI/FRE As-Stabilized UWCommercial Value

Value As- IsREQ_1055

REQ_4058

Calculated

PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RV_Value_A

mtnumeric ($)

Calculation: FRE As-Is Commercial

NOI/FRE As-Is Commercial Cap Rate

Value As-StabilizedREQ_1055REQ_4058

CalculatedPIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RV_Value_Amt

numeric ($)Calculation: FRE As-StabilizedCommercial NOI/ FRE As-StabilizedCommercial Cap Rate

UW Value As- IsREQ_1049REQ_3977


RV_UW_Value_Amt

numeric ($)

UW Value As-Stabilized REQ_1049REQ_3977

PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

RV_UW_Value_Amt numeric ($)

UW Value/Sq. Ft. As- IsREQ_1530REQ_4058


LCULATIONS

RV_UW_Value_Amt

PIPE_APPRAISAL_VALUATION_CALC

ULATIONS

Calculation: FRE As-Is UW CommerciValue/Total Commercial Sq. Ft.

UW Value/Sq. Ft. As-StabilizedREQ_1530REQ_4058

CalculatedPIPE_APPR

AISAL_VAL

RV_UW_Value_Sqft_Amt

numeric ($)Calculation: FRE As-Stabilized UWCommercial Value/Total Commercial Sq


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UATION_CA

LCULATIONS

BLENDED VALUATION REQ_2097

Cap Rate As- Is REQ_2095


LCULATIONS

CV_Cap_Ra

te_Pct

numeric ($)Calculation: FRE As-Is NOI/FRE As-Is

Property Value

Cap Rate As-Stabilized REQ_2095


LCULATIONS

CV_Cap_Rate_Pct

numeric ($)Calculation: FRE As-Stabilized NOI/FRAs-Stabilized Property Value

NOI As- Is REQ_4362

PIPE_APPRAISAL_VAL

UATION_CALCULATIONS

CV_NOI_A

mtnumeric ($)

Mapped: FRE As-Is NOI from Freddie MAs-Is Proforma


PIPE_APPR


CV_NOI_Amt

numeric ($)Mapped: FRE As-Stabilized NOI fromFreddie Mac As-Is Proforma

Value As- Is REQ_2096


LCULATIONS

CV_Value_Amt

numeric ($)Calculation: FRE As-Is UW ResidentiaValue + FRE As-IS UW Commercial Valu

Value As-Stabilized REQ_2096

CalculatedPIPE_APPR


CV_Value_Amt

numeric ($)

Calculation: FRE As-Stabilized UWResidential Value + FRE As- Stabilized UCommercial Value

Comments CR-newPIPE_APPRAISAL_VAL

UATION

Blended_Valuation_Co

mments

text

Market Info -MOVED TO THE NEWMARKET PAGE

Gap Field REQ_# Table Name Table Field Field TypeMARKET OVERVIEW

Vacancy PIPE_PROPERTY_MARKET_DATA

Previous QuarterVacancy

REQ_7794REQ_7795 PIPE_PROPERTY_MARKET_DATA

Numeric(Percentage wit2 Decimals)

Inventory (Units)REQ_7798REQ_7799 PIPE_PROPERTY_MARKET_DATA

Numeric (WholeNumber)

Asking RentREQ_7802REQ_7803

PIPE_PROPERTY_MARKET_DATANumeric (WholeNumber, $)

Previous QuarterAsking Rent

REQ_7802REQ_7803


Absorption (Units)REQ_7810REQ_7811

PIPE_PROPERTY_MARKET_DATANumeric (WholeNumber)

Source of MarketData

Text


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Date of Market Data Numeric (Date)

MarketRating Text

UnemploymentREQ_7832REQ_7833 PIPE_PROPERTY_MARKET_DATA


UnemploymentAsOf Date REQ_7816REQ_7817 PIPE_PROPERTY_MARKET_DATA Month/Year

Avg HouseholdIncome

REQ_7818REQ_7819


Avg HouseholdIncome As Of Date

REQ_7820REQ_7821

PIPE_PROPERTY_MARKET_DATA Year

PopulationREQ_7822REQ_7823


Population As OfDate

REQ_7824REQ_7825

PIPE_PROPERTY_MARKET_DATA Year

Est HouseholdIncome

REQ_7826REQ_7827


Est Household

Income Date

REQ_7828

REQ_7829 PIPE_PROPERTY_MARKET_DATA Year

Est PopulationREQ_4557


Est Population As OfDate

REQ_4557PIPE_PROPERTY_MARKET_DATA Year

Employer Name 1REQ_7830REQ_7831

PIPE_PROPERTY_MARKET_DATA Text

Employer Name 1No. of Employees

REQ_7832REQ_7833




Employer Name 2

No. of Employees

REQ_7832

REQ_7833PIPE_PROPERTY_MARKET_DATA

Numeric (Whole

Number)




REQ_7832REQ_7833





REQ_7832REQ_7833





REQ_7832REQ_7833


Comments REQ_4557 PIPE_PROPERTY_MARKET_DATA TextSUBMARKET

OVERVIEW

Vacancy PIPE_PROPERTY_MARKET_DATA

Previous QuarterVacancy

REQ_7796REQ_7797 PIPE_PROPERTY_MARKET_DATA


Inventory (Units)REQ_7800REQ_7801



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Asking RentREQ_7804REQ_7805


Previous QuarterAsking Rent

REQ_7804REQ_7805


Absorption (Units)REQ_7812

REQ_7813

PIPE_PROPERTY_MARKET_DATANumeric (Whole

Number)Sources

REQ_7836REQ_7837


Sources As Of DateREQ_7838REQ_7839

PIPE_PROPERTY_MARKET_DATA Numeric (Date)

SubmarketStudioRent


Numeric (WholeNumber, $)

Submarket 1 BRRent



Submarket 2 BRRent



Submarket 3 BRRent



Submarket 4 BRRent



Property In-PlaceStudio Rent

REQ_7834REQ_7835

PIPE_PROPERTY_MARKET_DATA

Calculation:Weighted AveraofRental Rate bBedroomCount

Avg. ContractRent for each UTypeMULTIPLIED BY# of Units for U

Type

Property In-Place 1BRRent

REQ_7834REQ_7835



Avg. ContractRent for each UTypeMULTIPLIED BY# of Units for UType


REQ_7834

REQ_7835


Calculation:

Weighted AveraofRental Rate bBedroomCount

Avg. ContractRent for each UTypeMULTIPLIED BY# of Units for U


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Type


REQ_7834REQ_7835



Avg. ContractRent for each UTypeMULTIPLIED BY# of Units for UType


REQ_7834REQ_7835



Avg. Contract

Rent for each UTypeMULTIPLIED BY# of Units for UType

Comments REQ_7840 PIPE_PROPERTY_MARKET_DATA Text

Appraisal PropertyInfo

- PLEASEUSECURRENTPAGE FORMAPPING

Gap Field REQ_# Table Name Table Field Field Type

Overall Condition Drop-Down

Seismic Zone Drop-Down

Appraisal UnitsNumeric (WhoNumber)

U of M Drop-Down

Flood Zone Drop-Down

Current Zoning Text

Comm. Panel#/Date

Numeric (WhoNumber)

Legal Use Radio

Conforming Use Radio

Legal CommentsText (CommenBox)

FEMA Map Date PIPE_Appraisal_Extended FEMA _Map_Dt Numeric (Date

RentCommentsText (CommenBox)

RentControl Checkbox

Property Class Drop-Down

Parking SpacesNumeric (WhoNumber)


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Star Rating Drop-Down

Prkg Ratio/1,000GLA

Numeric (Pct toDecimals)

Gross Sq. Ft.Numeric (WhoNumber)

RV/BoatSpaces Numeric (WhoNumber)

Number BuildingsNumeric (WhoNumber)

Number ofElevators

Numeric (WhoNumber)

Number ofStoriesNumeric (WhoNumber)

Mezzanine Checkbox

Year Built

Year Expanded

Year LastRenovated

Drop-Down

Prop Type Drop-Down

Space Type Text

Num UnitsNumeric (WhoNumber)

SF/UnitsNumeric (WhoNumber)

UnitRent/MoNumeric (WhoNumber)

Amenities PLEASE USECURRENT PAGE FORMAPPING

Gap Field REQ_# Table Name Table Field Field TypeAmenity Item Drop-Down

Qty.Numeric (WholeNumber)

Comment Text

Common AmenityItem

Drop-Down

Common Amenity Qty.Numeric (WholeNumber)

Common AmenityComment

Text

Security Amenity Item Drop-Down

Security Amenity Qty.Numeric (WholeNumber)

Security AmenityComment

Text

Construction AnalysisPLEASE USE CURRENTPAGE FOR MAPPING


Item Drop-Down


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Rating Drop-Down

Type Text

Construction Text (Comment Box

LocationAnalysis/LocationQualities

PLEASE USE CURRENTPAGE FOR MAPPING


Item Drop-Down

Rating Drop-Down

Dist. FromSubjectNumeric (WholeNumber)

Quality Drop-Down

Quality Comments Text (Comment Box

Certificate of PropertyConditions PLEASEUSE CURRENT PAGEFOR MAPPING


Phased Property Checkbox

Shared Amenities Checkbox

Commercial Uses Checkbox

Shared Access Checkbox

Non-ContiguousParcels

Checkbox

Unusual Easements Checkbox

Partial Condo CheckboxGround Lease Checkbox

Flag Lot Checkbox

UnusualEncroachments

Checkbox

100% Condo Checkbox

Other Checkbox

Description Text

Comments Text (Comment Box

Property PerformancePLEASE USE CURRENT

PAGE FOR MAPPINGGap Field REQ_# Table Name Table Field Field Type

Item Drop-Down

ItemSub Type Drop-Down

Num/PctNumeric (2 DecimaPlaces)

Date Numeric (Date)

Sales / Comp


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Gap Field REQ_# Table Name Table Field Field Type Comm

x

IncludedSalesComparison

onApprovalDoc

REQ_4564 checkbox (Y/N)

Photo button

xInclude inApprovalDoc

Pipe_Appraisal_Sales_Comp Include_Sales_Comparison_YN checkbox (Y/N)

x Source REQ_4407 Pipe_Appraisal_Sales_Comp Data_Source drop-down

Date ofSale

REQ_3795REQ_3878

Pipe_Appraisal_Sales_Comp Sale_Dt date

PropertyName

REQ_3792REQ_3874

Pipe_Appraisal_Sales_Comp Property_Name text

PropertyAddress

REQ_3871REQ_3875

Pipe_Appraisal_Sales_Comp Address text

PropertyCity

REQ_3793REQ_3876

Pipe_Appraisal_Sales_Comp City text

PropertyState

REQ_3794REQ_3877

Pipe_Appraisal_Sales_Comp State text

PropertyZip

Pipe_Appraisal_Sales_Comp Postal_Code_1_5 numeric (5-4)

Year BuiltREQ_3796REQ_3879

Pipe_Appraisal_Sales_Comp Built_Yr numeric(4)

# of UnitsREQ_3797REQ_3880

Pipe_Appraisal_Sales_Comp Units numeric(integer)

Total Sq.

Ft.

REQ_3799REQ_3882

Pipe_Appraisal_Sales_Comp Size numeric (integer)

xAverageSq. Ft./Unit

REQ_3800REQ_3883

numeric (integer) NOT CA

Sale PriceREQ_463REQ_3872

Pipe_Appraisal_Sales_Comp Actual_Price_Amt numeric ($)

xSalePrice/Sq.Ft.

REQ_3791REQ_3873

numeric ($) NOT CA

x Sale Price/Unit

REQ_1161REQ_3884

numeric ($) NOT CA

ImpliedCAP Rate

REQ_3798REQ_3881

Pipe_Appraisal_Sales_Comp Est_Cap_Rate_Pct numeric (%)

Comments Pipe_Appraisal_Sales_Comp Comments text

x Source textFRE AsStabiliz

Date ofSale

Loan_Purpose REFI_Acquired_Dt date

PropertyName

Pipe_Deal Deal_Name text Record

PropertyAddress

Pipe_Property Prop_Addr1 text

PropertyCity

Pipe_Property Prop_City text

PropertyState Pipe_Property Prop_State text

PropertyZip

Pipe_PropertyPostal_Code_1_5Postal_Code_6_9

numeric (5-4)

Year Built Pipe_Property Prop_Year_Built_Dt numeric(4)

# of Units V_Rent_Roll_Unit_Sq_Totals Total_Units numeric (integer)

ComesbutRethe Protaking


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Total Sq.Ft.

Pipe_Appraisal_Sales_Comp Size numeric (integer)

AverageSq. Ft./Unit

Pipe_Appraisal_Sales_Comp Avg_Sqft_By_Unit_Amt numeric (integer) Total_S

x Sale Price Pipe_Appraisal_Sales_Comp Actual_Price_Amt numeric ($)Pulls frFinal V

xSalePrice/Sq.Ft.

Pipe_Appraisal_Sales_Comp Actual_Price_By_Sqft_Amt numeric ($)Pulls fr

Final V

xSale Price

/UnitPipe_Appraisal_Sales_Comp Actual_Price_By_Unit_Amt numeric ($)

Pulls frFinal V

Adj.Price/Unit

REQ_7771 PIPE_APPRAISAL_SALES_COMP Sales_Price_Unit_Adjusted_Amt numeric ($)

xImpliedCAP Rate

numeric (% to 2decimals) [CR 88]

Pulls frAs-Is FFinal Imbased

ComparisonREQ_7771,REQ_7773,REQ_7776

PIPE_APPRAISAL_SALES_COMP Overall_Compatibility_Lkup_Id Drop-Down-Simila-Inferio-Super

X Comments Pipe_Appraisal_Sales_Comp Comments text

Rent Comps

Gap Field REQ_# Table Name Table Field Field TypeRentable Comparable Information

Photo

Details Radio

Property Name

REQ_7871REQ_7844REQ_7845

PIPE_APPRAISAL_RENTAL_COMP Property_Name Text

AddressREQ_7846REQ_7847

PIPE_APPRAISAL_RENTAL_COMP Address Text

CityREQ_7848REQ_7849

PIPE_APPRAISAL_RENTAL_COMP City Text

ST REQ_7850REQ_7851 PIPE_APPRAISAL_RENTAL_COMP ST Drop-Down

ZipREQ_7883REQ_7607

PIPE_APPRAISAL_RENTAL_COMP Postal_Code_1_5Numeric (ZiCode)

Tenant Type PIPE_APPRAISAL_RENTAL_COMP Tenant_Type Drop-Down

UnitsREQ_7859REQ_7860 PIPE_APPRAISAL_RNTL_COMP_DTL Units

Numeric(WholeNumber)

Occupancy % REQ_7867 PIPE_APPRAISAL_RNTL_COMP_DTL Occ_Pct Numeric (2


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REQ_7868 DecimalPlaces)

Distance fromSubject

PIPE_APPRAISAL_RENTAL_COMP Distance_Frm_Subject_Miles Text

Year Built

REQ_7852

REQ_7853 PIPE_APPRAISAL_RENTAL_COMP Built_Yr

Numeric

(WholeNumber)

Location PIPE_APPRAISAL_RENTAL_COMP Location Drop-Down

Condition PIPE_APPRAISAL_RENTAL_COMP Condition Drop-Down

Amenities PIPE_APPRAISAL_RENTAL_COMP Amenities Drop-Down

Quality PIPE_APPRAISAL_RENTAL_COMP Quality Drop-DownAppeal PIPE_APPRAISAL_RENTAL_COMP Appeal Drop-Down

Overall PIPE_APPRAISAL_RENTAL_COMP Overall Drop-Down

Comments PIPE_APPRAISAL_RENTAL_COMP Comments Text

Concession PIPE_APPRAISAL_RENTAL_COMP Concession Text

Utility IncludedRent

PIPE_APPRAISAL_RENTAL_COMP Utility_Included_Rent Text

Rentable Comparable Details

Tenant PIPE_APPRAISAL_RNTL_COMP_DTL Tenant_Name Text

Leasing Area(SF)

PIPE_APPRAISAL_RNTL_COMP_DTL SqFtNumeric(WholeNumber)

Start Date PIPE_APPRAISAL_RNTL_COMP_DTL Start_DtNumeric(Date)

Term (Yrs) PIPE_APPRAISAL_RNTL_COMP_DTL TermNumeric(WholeNumber)

Rent/UnitREQ_7865,REQ_7866

PIPE_APPRAISAL_RNTL_COMP_DTL Avg_Rent_Unit_Amt Numeric ($)

RentRangeREQ_7865,

REQ_7866PIPE_APPRAISAL_RNTL_COMP_DTL Rent_Range_Amt Text

Base Rental/SFREQ_7863REQ_7864

PIPE_APPRAISAL_RNTL_COMP_DTL Base_Rental_SF_Amt Range

Unit Type REQ_7854 PIPE_APPRAISAL_RNTL_COMP_DTL Space_Type

UnitSize (SF)REQ_7863REQ_7864 PIPE_APPRAISAL_RNTL_COMP_DTL SqFt


# of BedsREQ_7855REQ_7856 PIPE_APPRAISAL_RNTL_COMP_DTL No_Beds


# of BathsREQ_7857REQ_7858 PIPE_APPRAISAL_RNTL_COMP_DTL No_Bath

Numeric(Whole

Num

ber)

CommentsREQ_7862REQ_7869REQ_7870

PIPE_APPRAISAL_RNTL_COMP_DTL Comments Text

D r o p - D o w n C o n f i g u r a t i o n

Field REQ Drop-Down Value


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ValuationType

BLANKComplete,Self-Contained (Default)Complete,SummaryLimited,Self-ContainedLimited SummaryRestrictedBroker Price Opinion

Other

Overall Condition

BLANK (Default)PoorFairAverageGoodExcellent

Seismic Zone

BLANK (Default)012A

2B345PML

U of M

BLANK (Default)UnitsRoomsPadsSq FtBed

Flood Zone

BLANK (Default)ZONE AZONE BZONE CZONE DSHADED XUNSHADED X

Property Class

BLANK (Default)ABCD

Star Rating

BLANK (Default)One

TwoThreeFourFive

Year Built

BLANK (Default)19002100

Year Expanded BLANK (Default)


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19002100

Year LastRenovated

BLANK (Default)1900

2100

Prop TypeBLANK (Default)MultifamilyMultifamily w/Commercial

Amenity Item

BLANK (Default)Balcony/PatioCar Wash AreaClub HouseDishwasherDisposalOther AmenitiesDrapes

Fire PlacesFitnessCenterBasketball CourtGuarded GateIndoor PoolGolfCourseRacquetball CourtLoftsMicrowaveFitnessCenterVolleyball CourtMini-BlindsOutdoor PoolPlaygroundOven/RangeExternal StorageOverhead FansPanic ButtonCarCareCenterPerimeter FencePlaygroundRefrigeratorSauna/JacuzziSecurity PatrolStorage

Tennis CourtsTrash CompactorUnitActivated EntranceVaulted CeilingW&D Hook-UpsWasher/DryerSprinklersSmoke Alarm

Common Amenity BLANK (Default)


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Items Balcony/PatioCar Wash AreaClub HouseDishwasherDisposal

OtherAm

enitiesDrapesFire PlacesFitnessCenterBasketball CourtGuarded GateIndoor PoolGolfCourseRacquetball CourtLoftsMicrowaveFitnessCenterVolleyball Court

Mini-BlindsOutdoor PoolPlaygroundOven/RangeExternal StorageOverhead FansPanic ButtonCarCareCenterPerimeter FencePlaygroundRefrigeratorSauna/JacuzziSecurity Patrol

StorageTennis CourtsTrash CompactorUnitActivated EntranceVaulted CeilingW&D Hook-UpsWasher/DryerSprinklersSmoke Alarm

Security AmenityItems

BLANK (Default)Balcony/PatioCar Wash Area

Club HouseDishwasherDisposalOther AmenitiesDrapesFire PlacesFitnessCenterBasketball CourtGuarded Gate


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Indoor PoolGolfCourseRacquetball CourtLoftsMicrowave

FitnessCenterVolleyball Court

Mini-BlindsOutdoor PoolPlaygroundOven/RangeExternal StorageOverhead FansPanic ButtonCarCareCenterPerimeter FencePlaygroundRefrigerator

Sauna/JacuzziSecurity PatrolStorageTennis CourtsTrash CompactorUnitActivated EntranceVaulted CeilingW&D Hook-UpsWasher/DryerSprinklersSmoke Alarm

Construction AnalysisItem

BLANK (Default)Frame Type

Siding TypeRoof TypePlumbingConcreteMasonrySteel

Construction AnalysisRating

BLANK (Default)ExcellentGoodAverageFairPoor

Location AnalysisItem

BLANK (Default)Power LinesRailroad LinesLandfillsSewer FacilitiesHigh Volume Streets

Location AnalysisRating

BLANK (Default)PoorFair


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AverageGoodExcellent

Quality

BLANK (Default)Access to Local Amen

TrafficGroundsProperty Condition

PropertyPerformance Item

BLANK (Default)CovenantAnalysisEconomic VacancyPhysical Vac-SubMarketPhysical Vacancy-MarketPhysical Vacancy=SubjectValue Comp Method

ItemSub Type

BLANK (Default)If Property Performance Item is CovenantAnalysis, ItemSub Type is:

y DCR

y LTCy LTV

If Property Performance Item is Economic Vacancy, ItemSub Type is:y Appraisery Lender Survey

If Property Performance Item is Physical Vacancy-Market, ItemSub Type is:y Appraisery Prior Yeary Underwritingy Year-To-Date

If Property Performance Item is Physical Vacancy-Subject, ItemSub Type is:y Appraisery Cert. RentRoll

If Property Performance Item is Value Comp Method, ItemSub Type is:y Gross Income Multipliery Value Per Roomy Value Per Sq. Ft.y Value Per Unit

Source ofSalesComps

REQ_4407/BR.1498

BLANK (Default)SubjectAppraisalOther(values are User selected)

PropertyState

BLANK (Default)[List of 50 USStates- abbreviated/alphabetical]DC (District ofColumbia)

PR (Puerto Rico)

Comparison

REQ_7771,REQ_7773

Similar (default)InferiorSuperior

RentComps ST

BLANK (Default)[List of 50 USStates- abbreviated/alphabetical]DC (District ofColumbia)PR (Puerto Rico)


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Tenant TypeBLANK (Default)ResidentialCommercial

Location

BLANK (Default)InferiorSim

ilarSuperiorNothing

Condition

BLANK (Default)InferiorSimilarSuperiorNothing

Amenities


Quality


Appeal


Overall


REQUIRED DEFAULT

F u n c t i o n a l i t y D e s c r i p t i o n

VALUATION LIST GRID

The Valuation List Grid allows the User to enter multiple valuations for a property. The User can add, save, delete, and copy rows in the Valuation List Grid.

y Add If the user clicks on the Add button a new row will be created.y Save If the user clicks on the Save button any additions or modifications will be saved.


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y Delete If the user clicks on the Delete button the selected row will be deleted.y Copy If the user selects a row and then clicks on the Copy button, all the data elements from the

Valuation List grid, Valuation frame, Sales Comp frame, and RentComp frame will be copied exceptfor 2 data fields differences:

- If the user copies an Active row, the copied row will not be marked Active.- The copied row Report Date field will be populated based on when the row was

copied. The User will first need to select a valuation by selecting a row in the Valuation List grid in order to enter data

into the frames below the grid. The User will select the active valuation by selecting the Active checkbox for a row. Columns in the Valuation List Grid can be sorted when clicked on the header of the grid.

VALUATION FRAME:

y Review Appraisal

o The Seller/Servicer orders and reviews an appraisal prior to sending it to Freddie Mac. Once the appraisal

is submitted to Freddie Mac, the Underwriter will review the appraisal in its entirety. The Underwriter willcompare the results of the appraiser's income and expense analysis to the underwritten income andexpenses and determine whether any differences require reconciliation or an adjustment of theassumptions used while developing the underwritten NOI.

Satisfies Requirement(s):REQ_368

y Freddie Mac (Portfolio) Valuation

o The Underwriter will develop an estimate of Property value on every investment (the "Internal Value")distinct from the conclusion of the third party appraiser (the "Appraised Value"). The Internal Value willbe based on the Property's physical and financial condition.


Submit Button: Selecting the Submit button will save all the information on the Valuation screen.

Satisfies Requirement(s):REQ_4615,REQ_4545,REQ_4546,REQ_4622

y FINAL VALUATION

o If the Appraisal Valuation is not currently present, the Final Valuation will be set to the FRE PropertyValue.

Satisfies Requirement(s):REQ_481/BR.544

o Since CME is not applicable for this phase, the system will pull the FRE Portfolio Proforma to obtain theNOI calculation.


FINAL VALUATION- Requirement/Business Rules Mapping

Enterable or

Calculated As-Is As-Stabilized


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Calculated Final Cap Rate REQ_4619/BR.2167

Calculated Final Value Per Unit REQ_4620/BR.2218

Calculated Final Valuation REQ_481/BR.1526

Calculated Final Value Per Sq. Ft. REQ_4622/BR.2219

FINAL VALUATION- Requirement/Business Rules Mapping

Enterable orCalculated As-Is As-Stabilized

Calculated Final Cap Rate REQ_4619/BR.2168 REQ_4619/BR.2169

Calculated Final Value Per Sq. Ft. REQ_4622/BR.2222 REQ_4622/BR.2223

Calculated Final Value Per Unit REQ_4620/BR.2220 REQ_4620/BR.2221

Calculated Final Valuation REQ_481/BR.771 REQ_481/BR.772

y DIRECT CAP VALUATION

o Appraisal Company (TYPE-AHEAD SEARCH) drop-down: This field will populate with Entities in thedatabase that are associated with the 'Appraisal' entity type.

This field is a type-ahead search field. The User should be able to type in the field, and the drop-down should filter and display entities thatmatch the entered criteria.

The User will have the ability to select one of the values in the drop-down.

Satisfies Requirement(s):REQ_1323,REQ_4350/BR.1780/BR.2356,REQ_3921,REQ_4360

o Appraisal Type Radio Buttons:

The Appraisal Type radio buttons are only for the use of the DirectCap Valuation frame and willremain within the DirectCap Valuation frame per Release 2.0 design.

Default: (Appraisal Type) As-Is radio button will be selected by default. Values on in the AppraisaValuation section are controlled by the Appraisal Type indicator.


If theAs-Isradio button is selected, the enterable fields listed in theAs-Is column in thefollowing table should be open for entry. Fields listed in theAs-Stabilized column should beprotected.

y Calculated fields in theAs-Is column will automatically calculate.

y Calculated fields in theAs-Stabilized column will not calculate and remain blank.


DIRECT CAP VALUATION- Requirement/Business Rules MappingAs-Is Radio Button selected

Enterable orCalculated

As-Is As-Stabilized

RESIDENTIAL APPRAISAL

EnterableNOIREQ_1341/BR.1967,REQ_3970/BR.2344

Protected

EnterableCap RateREQ_1340/BR.1631,REQ_3969/BR.1636

Protected

EnterableAppraisal ValueREQ_1339/BR.1637,REQ_3968/BR.1656

Protected


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CalculatedValue Per Sq. Ft.

REQ_1084/BR.1202

CalculatedValue Per UnitREQ_468/BR.589

COMMERCIAL APPRAISAL

EnterableNOIREQ_2099/ BR.2042,REQ_3973/BR.2352

Protected

EnterableCap RateREQ_2098/ BR.2345,REQ_3972/BR.2353

Protected

EnterableAppraisal ValueREQ_2101/ BR.2354,REQ_3971/BR.2355

Protected

CalculatedValue Per Sq. Ft.REQ_4359/BR.2139

BLENDED VALUE

Calculated NOIREQ_4361/BR.2049

Calculated Cap RateREQ_405/BR.1103

Calculated Appraisal ValueREQ_2102/BR.548

If theAs-Is and As-Stabilized radio button is selected, the enterable fields listed in theAs-IsandAs-Stabilizedcolumns in following table should be open for entry.

y Calculated fields in theAs-IsandAs-Stabilizedcolumns will automatically calculate.

y If the User has already selected the As-Is and As-Stabilized radio button and saveddata, the As-Stabilized values will be cleared if the User chooses to select the As-Is radiobutton and save data.

Satisfies Requirement(s):REQ_4055/BR.2408/BR.2409

APPRAISAL VALUATION- Requirement/Business Rules MappingAs-Is and As-Stabilized Radio Button selected

Enterable or

Calculated As-Is As-StabilizedRESIDENTIAL APPRAISAL


NOIREQ_1341/BR.2025,REQ_3970/BR.2027

EnterableCap RateREQ_1340/BR.2020,REQ_3969/BR.2022

Cap RateREQ_1340/BR.2021,REQ_3969/BR.2023


Appraisal ValueREQ_1339/BR.1701,REQ_3968/BR.1805


Value Per Sq. Ft.REQ_1084/BR.2031

CalculatedValue Per UnitREQ_468/BR.2028

Value Per UnitREQ_468/BR.2029

COMMERCIAL APPRAISAL


NOIREQ_2099/BR.2041,REQ_3973/BR.2044

Enterable Cap RateREQ_2098/BR.2036,REQ_3972/BR.2038

Cap RateREQ_2098/BR.2037,REQ_3972/BR.2039


Appraisal ValueREQ_2101/BR.2033,REQ_3971/BR.2035


Value Per Sq. Ft.REQ_4359/BR.2138

BLENDED VALUE

Calculated NOIREQ_4361/BR.2047

NOIREQ_4361/BR.2048

Calculated Cap RateREQ_405/BR.1749

Cap RateREQ_405/BR.1750


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REQ_1054/BR.2115

CalculatedUW Value/Unit

REQ_1053/BR.797REQ_1053/BR.2412

COMMERCIAL VALUATION

Calculated UW Cap Rate REQ_1412/BR.1713

Enterable Cap RateREQ_1051/BR.2382REQ_3976/BR.2383

Protected

Enterable NOI REQ_3804/BR.1759 Protected

Calculated Value REQ_1055/BR.897

Enterable UW ValueREQ_1049/BR.2384REQ_3977/BR.2385

Protected

Calculated UW Value/Sq. Ft. REQ_1530/BR.1061

BLENDED VALUATION

Calculated Cap Rate REQ_2095/BR.1075Calculated NOI REQ_4362/BR.2066Calculated Value REQ_2096/BR.1078

FREDDIE MAC VALUATION- Requirement/Business Rules MappingAs-Is and As-Stabilized Values Present

As- Is As- Stabilized

RESIDENTIAL VALUATION

Enterable NOISeparate Commercial

Valuation Checkbox = No

REQ_3801/BR.2388 REQ_3801/BR.2389

Enterable NOISeparate CommercialValuation Checkbox = Yes

REQ_3801/ BR.1754 REQ_3801/ BR.1756

EnterableCap Rate

REQ_517/BR.769REQ_3974/BR.1806

REQ_517/BR.1703REQ_3974/BR.1807

Calculated UW Cap Rate REQ_884/BR.1706 REQ_884/BR.1707Calculated Value REQ_882/BR.1753 REQ_882/BR.1755


REQ_883/BR. 1758REQ_3975/BR.1809

Calculated UW Value Per Sq. Ft.REQ_1054/BR.789REQ_1054/BR.2413

REQ_1054/BR.790REQ_1054/BR.2414

Calculated UW Value Per UnitREQ_1053/BR.787REQ_1053/2410

REQ_1053/BR.788REQ_1053/BR.2311

COMMERCIAL VALUATIONEnterable NOI REQ_3804/BR.1760 REQ_3804/BR.1761

Enterable Cap RateREQ_1051/BR.1710REQ_3976/BR.1811

REQ_1051/BR.1709REQ_3976/BR.1810

Calculated UW Cap Rate REQ_1412/BR.1711 REQ_1412/BR.1712

Calculated Value REQ_1055/BR.785 REQ_1055/BR.786


REQ_1049/BR.770REQ_3977/BR.1813

Calculated UW Value Per Sq. Ft. REQ_1530/BR.1764 REQ_1530/BR.1765

BLENDED VALUATION

Calculated NOI REQ_4362/BR.2067 REQ_4362/BR.2068

Calculated Cap Rate REQ_2095/BR.1076 REQ_2095/BR.1077

Calculated Value REQ_2096/BR.1079 REQ_2096/BR.1080

MARKET INFO FRAME:

y The User can enter and submit data using the Submit button.y Property in Place grid must directly pull from the Active RentRoll and update when the Active RentRoll is

updated


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AMENITIES FRAME:

y The User can add and delete amenity items using the Add and Delete buttons.y The User can add duplicate items

y The User can submit data using the Submit button.

CONSTRUCTION ANALYSIS FRAME:

y The User can add and delete items using the Add and Delete buttons.y The User can add duplicate items


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LOCATION ANALYSIS/LOCATION QUALITIES FRAME:




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CERTIFICATE OF PROPERTY CONDITION FRAME:

y The User can enter and submit data using the Submit button.

PROPERTY PERFORMANCE FRAME:



SALES COMP FRAME FRAME:

y Sales Comparisons is an alternative approach to determine internal Freddie Mac value of the property. TheUnderwriter will use the appraisal, data from recent acquisition loans purchased by Freddie Mac, recent appraisalson other similar Freddie Mac transactions as sources for sales comparable data.

Satisfied Requirement(s): REQ_355

Add/Edit Sales Comparison Record:


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o OUS allows the user to add Multiple Sales Comparison Records in the Sales Comparisons Grid. SelectingtheAdd button will create a new blank line item in the Sales Comparable Grid. The User will then add thepertinent data from the source (appraisal) and click on the Submit button on the bottom of the page tosave the data to the grid. The lines items will appear in the comparisons frame below the grid.

o OUS will allow the user to add/enter and update data within the Sales Comparisons grid:

y Include Sales Comparison in Approval Document (Checkbox: if checked defaults the Approval Doccheck boxes in the Sales Comparison frame)

y Photo (this is only populated if a Photo has been added via the Add Photo button)y Source (drop-down values are SubjectAppraisal and Other) (BR.1498)y Sale pricey Sale price per square footagey Property Namey Property Addressy PropertyCityy PropertyState

y Date ofSaley Year builty Total Number of Unitsy Implied CAP Ratey Total Square Footagey Average Square Foot Per Unity Sale Price Per Unity Adj. Price Per Unity Comparison


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Satisfies Requirement(s): REQ_4601,REQ_4407

Delete an Existing Sales Comparison Record:

o To delete a Sales Comparison record in the Sales Comparable grid, the User must first highlight a row inthe grid. Selecting the Delete button will prompt the User with the following pop-up message,"Are yousure you want to delete this Sales Comp Record?"

Selecting the OK button will delete the selected Sales Comp row in the grid and delete theassociated column in the Sales Comparison Frame.

Selecting the Cancel button will close the pop-up box and return the User back to the SalesComp screen.

If the User does not select a row before selecting the Delete button, the system will display apop-up message stating,"Please select a row to delete".

Add Photos button:

o Highlighting a row in the grid and selecting theAdd Photos button will direct the User to the followingscreen to allow them to upload picture files related to the selected Sales Comparable Record in the grid:

Programmer's Note: Use currentAdd Photo functionality on Broker System


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o If the User does not select a row before selecting theAdd Photos button, the system will display a pop-up message stating,"Please select a row in the grid".

o If a picture is attached to a Sales Comparison record, the grid will display an attachment (paperclip) iconin the Photos column for the Sales Comparison record.

o Selecting theAttachment (paperclip) icon in the Photos column will take the User to the Add Photosscreen for the selected Sales Comparison record.

o The Add Photosbutton will not be saved to the File Cabinet. The Add Photos button will be used forthis page only and not for the brief.

Subject Property Values: The Subject Property Values will come from the current Deal/Property Recorddisplayed in the Header Record. All information related to Subject Property will be protected. See DataRequirements for where fields map.

o IfLoan Purpose = Refinance or Supplemental (DEFERRED), the Date of Sale field will populate withthe value entered in the Original Acquired Date field in the Loan Purpose frame. Otherwise, the Date ofSale field will remain blank.

o If the Product Type is equal to one of the following values:

Conventional Mortgage Streamlined Acquisition of FMAC Mortgage Streamlined Refinance of FMAC Mortgage Standard Refinance of FMAC Mortgage

then the following fields in the Subject Property column will map to Final As-Is Values on the Valuationscreen- see Data Requirements:

Source field will display 'FRE As-Is' Sale Price Sale Price/Sq. Ft. Sale Price/Unit Implied Cap Rate

o If the Product Type is equal to one of the following values:


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Acquisition Upgrade Mortgage Acquisition Rehabilitation Mortgage Premier Lease-Up Standard Lease-Up

then the following fields in the Subject Property column will map to Final As-Stabilized Values on theValuation screen- see Data Requirements:

Source field will display 'FRE As-Stabilized' Sale Price Sale Price/Sq. Ft. Sale Price/Unit Implied Cap Rate

o To update data, the user will select the comparable line to be updated, and then click the cursor in thefield to be updated. This action will cause the field to be become open and available for modification.Once the user is finished with the data updates, they will need to click on the Submit button located atthe bottom of the screen to save the changes.

o OUS will allow the user to select the Sales Comparisons to be included in the brief by checking theInclude Sales Comparisons in Approval Document check box located above the Sales Comparisons grid.

o Submit Button: When the user clicks on the Submit button, located on the bottom of the screen, all ofthe entered information to the Sales Comparable grid and comments will be saved.


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Satisfies Requirement(s): REQ_463,REQ_3872,REQ_3791,REQ_3873,REQ_3792,REQ_3874,REQ_3871,REQ_3875,REQ_3793,REQ_3876,REQ_3794,REQ_3877,REQ_3795,REQ_3878,REQ_3796,REQ_3879,REQ_3797,REQ_3880,REQ_3798,REQ_3881,REQ_3799,REQ_3882,REQ_3800,REQ_3883,REQ_1161,REQ_3884,REQ_4564

y Sales Comparison Frame

When the User selects the Submit button after entering data in the Sales Comparisons grid OUS willautomatically create a Subject Property column and Comparable columns in the Sales Comparisonframe.The Sales Comparable column data is feed directly from the grid. Only those fields that are populated in thegrid will display in the Comparable column (see screen print below). To update data the Comparison columnuser needs to update the Comparisons grid.

o Information related to the Subject Property will be protected and displayed on the left side in a"frozen" section. Comparable Records are scrollable using the scroll bar across the bottom.

o Information in all other columns will be protected and cannot be modified in the frame.

o The following data fields will be viewable in the Sales Comparisons Subject Property frames if theuser has entered the data in the Sales Comparisons grid:

Source ofSales Comparisons Date ofSale Property Name


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Property Address PropertyCity PropertyState Sales Comparison Section in brief (Y/N) Selected Sales Comparison to include in the brief Year Built Total #of Units Total Sq. Ft. Average Sq. Ft./Unit Sales Price Sales Price/Sq. Ft. Sales Price/Unit Adj. Price/Unit Implied Cap Rate [CR 45] Comparison


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o Check to Include in Approval Doccheckboxes will default to checked, if the Include SalesComparisons in Approval Document check box is checked. To exclude the data elements from theBrief the User needs to uncheck to the boxes.

o Submit Button: to save the comparison data the user will click the Submit button.

o Access levels: access to the Sales Comparison screen is managed by the Security Matrix.

Satisfies Requirement(s):REQ_5225,REQ_4537,REQ_5226

Selecting Fields to Include in the Brief (Approval Doc):

Level 1-

Include Sales Comparison inApproval Doc (Single Checkbox)

Level 2-

Include in Approval Doc(Grid Column- Checkbox)

Level 3-

Uncheck to Exclude From Approval Doc(Field Level Checkboxes)

STATUSAPPEARS IN

APPROVAL DOC?STATUS

APPEARS INAPPROVAL DOC?

STATUSAPPEARS IN

APPROVAL DOC?

Checked YES- section appears Checked YES- comp record appears Checked YES- field appears in comp section

Checked YES- section appears Checked YES- comp record appears Unchecked NO- field does not appearChecked YES- section appears Unchecked NO- comp record does not appear Unchecked NO- field does not appear

Checked YES- section appears Unchecked NO- comp record does not appear Checked NO- field does not appear

Unchecked NO- section does not appear Unchecked NO- comp record does not appear Unchecked NO- field does not appear

Unchecked NO- section does not appear Unchecked NO- comp record does not appear Checked NO- field does not appear

Unchecked NO- section does not appear Checked NO- comp record does not appear Checked NO- field does not appear

Unchecked NO- section does not appear Checked NO- comp record does not appear Unchecked NO- field does not appear

The above grid outlines the instances where OUS will or will not display Sales Comparisons in the Brief (ApprovalDoc). The intention of this section is to provide the user with an understanding and the variations around theApproval check boxes. The Include Sales Comparisons in the Approval Document check box drives the dataelements that will ultimately included or excluded from the Brief. This is all accomplished by checking or un-checking the check boxes located on the Sales Comps screen, which was described in the section above.

Level 1: Include Sales Comp in Approval Doc Checkbox

The Level 1:Include Sales Comparison in Approval Doccheckbox will be unchecked until the firstSales Comparison Record is created. When the FIRST Sales Comparison Record is created, the checkboxwill be automatically checked.

IfLevel 1:Include Sales Comparison in Approval Doc checkbox is checked:

o Sales Comparison section will be included in the Approval Doc.o Level 2:Include in Approval Doc checkbox column in the Sales Comparison grid will be activeo Level 3: Uncheck to Exclude From Approval Doc checkbox column in the Sales Comp

Comparison frame will be active (selectCompare Sales Comps button to see Sales CompComparison frame)


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IfLevel 1:Include Sales Comparison in Approval Doc checkbox is unchecked:

o Sales Comparison section will not be included in the Approval Doc.o Level 2:Include in Approval Doc checkbox column in the Sales Comp grid will keep their

current state (checked/unchecked) butCheckbox will become inactive.o Level 3: Uncheck to Exclude From Approval Doc checkboxes on the Sales Comp

Comparison frame will keep their current state (checked/unchecked) butCheckbox will becomeinactive.

Level 2: Sales Comp Record Checkboxes in Sales Comp Grid

The Level 2:Include in Approval Doc checkbox will be defaulted to checked (regardless if the field isactive or inactive for User input) when a new Sales Comparison Record is created.

IfLevel 2: Include in Approval Doc checkbox is checked for a Comparable Record in the grid:o

Sales

Comparable

Record will be included in the Approval Doc

IfLevel 2: Include in Approval Doc checkbox is unchecked for a Comparable Record in the grid:o Sales Comparable Record will be omitted from the Approval Doc

Level 3: Field Level Checkboxes

The Level 3: Uncheck to Exclude From Approval Doc checkboxes will be defaulted to checked(regardless if the field is active or inactive for User input) when a new Sales Comparison Record iscreated.

IfLevel 3: Uncheck to Exclude From Approval Doc checkbox is checked for a field:

o Field column will be included for all Comparable Records that are included in the Approval Doc

IfLevel 3: Uncheck to Exclude From Approval Doc checkbox column is unchecked for a field:o Field column will be omitted for all Comparable Records that are included in the Approval Doc


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Satisfied Requirement(s):REQ_465,REQ_499,REQ_4564

RENT COMPS:

o The Origination and Underwriting System (OUS) shall display the following data elements associated withevery RentComparable Property:

Property Name Property Address PropertyCity PropertyState Property Zip Year Built Unit Type

-Number of Bedrooms-Number of Bathrooms

Number of Units per Unit Type Number of Units Range ofResidential Square Footage per Unit Type Range of Monthly Rent per Unit Type Percentage of Occupied Units per Unit Type RentComparison Comments

Note: Number of Units per Unit Type will not be captured in the system.

o The Origination and Underwriting System (OUS) shall allow the user to save all the following dataelements for every RentComparable property.

Property Name Property Address PropertyCity PropertyState Year built Number of Bedrooms per Unit Type Number of Bathrooms per Unit Type Number of Units per Unit Type Residential Square Footage per Unit Type


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Monthly Rent per Unit Type Percent of Occupied Units RentComp Boilerplate Comments

o The Origination and Underwriting System (OUS) shall prevent the user from editing the following subjectproperty data

Property Name Property Address PropertyCity PropertyState Property Zip Year built Number of Bedrooms per Unit Type Number of Bathrooms per Unit Type Number of Units for every Unit Type Residential Square Footage per Unit Type Monthly Rent per Unit Type Percent of Occupied Units

Satisfies Requirement(s):REQ_7608,REQ_7881,REQ_7882

o OUS allows the user to add Multiple RentComparison Records in the RentComparisons Grid. SelectingtheAdd button will create a new blank line item in the RentComparable Grid. The User will then add thepertinent data from the source (appraisal) and click on the Submit button on the bottom of the page tosave the data to the grid. The lines items will appear in the comparisons frame below the grid.

o Delete an Existing Rent Comparison Record:

o To delete a RentComparison record in the RentComparable grid, the User must first highlight a rowin the grid. Selecting the Delete button will prompt the User with the following pop-up message,"Are you sure you want to delete this RentComp Record?"

Selecting the OK button will delete the selected RentComp row in the grid and delete theassociated column in the RentComparison Frame.


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Selecting the Cancel button will close the pop-up box and return the User back to the RentComp screen.

If the User does not select a row before selecting the Delete button, the system will displaya pop-up message stating,"Please select a row to delete".

Add Photos button:

o Highlighting a row in the grid and selecting theAdd Photos button will direct the User to the followingscreen to allow them to upload picture files related to the selected RentComparable Record in the grid:

Programmer's Note: Use currentAdd Photo functionality on Broker System

o If the User does not select a row before selecting theAdd Photos button, the system will display a pop-up message stating,"Please select a row in the grid".

o If a picture is attached to a RentComparison record, the grid will display an attachment (paperclip) iconin the Photos column for the RentComparison record.

o Selecting theAttachment (paperclip) icon in the Photos column will take the User to the Add Photosscreen for the selected RentComparison record.

o Submit Button: When the user clicks on the Submit button, located on the bottom of the screen, all ofthe entered information to the RentComparable grid and comments will be saved.

Rentable Comparable Frame:


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When the User selects the Submit button after entering data in the Rent Comparisons grid OUS will allowfor the User to enter in details in the Rentable Comparable Details grid that are related to the RentComparison row selected in the Rent Comparisons grid.

The User can add and delete items using the Add and Delete buttons.


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The User can submit data using the Submit button.

BUSINESS RULES/ FIELD VALIDATIONS/ CONFIGURATIONS

No additional business rules/validations for this section.

Date post:	07-Apr-2018
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Valuation Technical Design Doc v 1.0

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