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[]
[]
[null,"Report Review Aid for Property Condition Reports"]
[null,"Review in conjunction with Best Practices"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"2025-05-22"]
[]
[]
[null,null,"Property name",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Loan number"]
[]
[]
[null,null,"Reviewer's name",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Date of review"]
[]
[]
[null,"This Report Review Aid is provided by Freddie Mac Multifamily only as guidance for use by our Optigo Lenders while reviewing third party reports.  This guidance is for informational purposes only, and is intended to be used in conjunction with, and not as a replacement for, each Optigo Lender's review of the applicable provisions of the Multifamily Seller/Servicer Guide as it may be updated from time to time.  All provisions of the Guide with respect to such reports remain in full force and effect, unless modified in writing by Freddie Mac."]
[]
[null,"Ensure Proper Scope"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Full inspection of building exteriors and grounds: each building and site component is described (e.g., material, finish, age, etc.), and its condition is noted"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Full inspection of interior common areas: each building component is described (e.g., material, finish, equipment manufacturer, capacity, age, etc.), and its condition is noted"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Inspection of 100% of commercial units and spaces: materials and finishes are described with conditions noted"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Full inspection of required residential units: each component is described (e.g., material, finish, equipment manufacturer, capacity, age, etc.), and its condition is noted"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• 10% of all units to include:"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"- 50% of vacant units, and"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"- 50% of down units* (more required if conditions are not typical in units inspected)"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"* a down unit is any unit that cannot be brought back into service with routine maintenance"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Confirmation consultant selected units for inspection"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Full inspection of all amenities: each component is described (e.g., material, finish, age, etc.) and its condition is noted"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Analysis of budget and scope for any capital improvements and renovation work that is in progress or for any planned capital improvements and renovation work; if the underwriting is affected by the successful completion of such work, repair escrows must be required"]
[]
[]
[]
[null,"Problematic Materials/Equipment are adequately resolved"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Electrical deficiencies identified and cost to cure provided"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Sub-60 amp service - if consultant recommends keeping sub-60 service in place, a load calculation in accordance with NEC Article 220, Sections I-III must be provided"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Edison base/T-type fuses - overload protection must be circuit breakers or S-type (tamper proof) fuses"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Aluminum wiring - consultant must opine on any/all terminations and determine if they:"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"Indicate unsafe conditions"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"Represent a \"Permanent Repair\" as defined by CPSC (Copalum or Alumiconn)"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"Are not code-compliant"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Stab-Lok breakers:"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"History of repairs/failures at the property, including discussion of any increase in the frequency of failures"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Galvanized and polybutylene piping deficiencies identified and cost to cure provided"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Other problematic materials; conditions are analyzed based on current operations, historical operations, industry knowledge, class action lawsuits, governmental recalls, etc. with costs to cure provided OR if recommendation is to allow the problem material or equipment to remain, the consultant has provided adequate justification"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Consider carve-out language related to future failures of the problem materials or equipment"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Consider verification that insurance coverage is not affected by the presence of the problem material or condition"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Consider opinion from appraiser if value is affected by problematic materials/conditions"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Carve-out for aluminum wiring may be waived if connections meet CPSC “Permanent Repair” definition or a Priority Repair is required in the Commitment to such standard, and there is no insurance exclusion for aluminum wiring"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Carve-outs for Stab-Lok breakers, galvanized piping, and polybutylene piping may be waived if remediation/replacement as a Priority Repair or reserves included in the Replacement Reserve table, and there is no insurance exclusion for galvanized/polybutylene piping or Stab-Loks"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Further analysis is recommended; if so, cost of analysis is provided and analysis is completed prior to commitment"]
[]
[]
[]
[null,"Miscellaneous issues addressed"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Identified mold with remediation cost included. Identified source of any water intrusion with repair cost included"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Evidence of wood-damaging insects noted with costs identified to repair any damage"]
[]
[]
[null,"Critical Repairs are identified and resolution/repair costs provided (corrections must be completed prior to commitment) - See Section 62.3(b) of the Guide for a detailed definition"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Repairs and replacements that significantly impair habitability, safety, value, income or marketability are identified and must be corrected before Freddie Mac will proceed with the transaction"]
[]
[]
[]
[null,"PR-90 Priority Repairs are identified and resolution/repair costs provided (Repair Agreement required) - See Section 62.3(b) of the Guide for a detailed definition"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Imminent life/safety hazards identified and cost to cure provided"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Any condition that may cause imminent damage or is the cause of immediate damage to any major building system or structure are identified and cost to cure provided"]
[]
[]
[]
[null,"Priority Repairs are identified and resolution/repair costs provided (Repair Agreement required) - See Section 62.3(b) of the Guide for a detailed definition"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Life/safety issues not identified as PR-90 repairs are identified and cost to cure provided"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Code issues identified and cost to cure provided"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Overall compliance addressed"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Local official contacted regarding open violations"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Energy related requirements are identified"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Handicapped accessibility compliance addresses"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"ADA"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,"Fair Housing"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Physical deficiencies identified and cost to cure provided"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Deficiencies which, if left uncorrected, have the potential to result in or contribute to critical element or system failure within one year"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Deficiencies that will likely result in a significant escalation of remedial cost related to any material building components that are approaching, have reached or exceeded their typical expected useful life or whose remaining useful life should not be relied upon in view of actual or effective age, abuse, excessive wear and tear, poor maintenance or exposure to the elements"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Any mold, water intrusion or potentially damaging leaks"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Deferred maintenance identified and cost to cure provided: the postponement of normal maintenance, which cannot reasonably be resolved by or has not been addressed by normal operations or Routine Repairs and Maintenance, having a cost of more than $3,000 per repair item, and which may result in any of the following:"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Physical deterioration"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Lack of full operation or efficiency "]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Increased operating costs"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Decline in property value"]
[]
[null,"General requirements"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Reliance is provided to Freddie Mac using the standardized reliance language (see end of this guide)"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Report was retained by the Optigo Lender"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Inspection date occurred no more than 30 days prior to the report date."]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Report date is within 6 months prior to the date of delivery of the full underwriting package"]
[]
[]
[]
[null,"Verify 1105 information"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Ensure project description in Section I matches narrative"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Contacts are identified including those present at the site visit"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Confirm that high risk seismic factors for properties with a PGA of 0.15g or greater have been evaluated"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Verify building component condition ratings in Section II match narrative"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Overall property description and overall property rating in Section II is supported by the rest of the report"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Ensure Priority Repair descriptions and costs match narrative"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Ensure Replacement Reserves are provided for all non-priority needs and all components with a Remaining Useful Life of less than the loan term"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"3% inflation factor used for reserve analysis"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Replacement Reserves projected for the term of the Mortgage plus two years to a maximum of 12 years"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Form is signed by the consultant"]
[]
[]
[null,"Verify required support for documentation"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Adequate photographs to describe general conditions and record all problems"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Site plan provided"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Resume for site inspector and report reviewer, if different from inspector"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Site inspector is qualified"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Degree in architecture and/or related engineering field from an accredited institution"]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Minimum 5 years of appropriate experience (3 years with multifamily properties; 2 years with financial institutions)"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Firm has no conflict of interest with borrower, Optigo Lender or property buyer/seller"]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"Equivalent Experience and Expertise Certificate provided for individuals who do not possess all required qualifications"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Budget and scope for any planned capital improvements are reviewed and compared to recommended repairs"]
[]
[]
[null,"Escrow for required repairs"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Require an escrow of 12% of the total repair costs if: if the total repair cost is 25 bps of the loan amount or $25,000, whichever is greater"]
[null,null,null,null,null,null,null,null,null,null,null,"Require an escrow if the total repair cost is 25 bps of the loan amount or $25,000, whichever is greater"]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Require a Priority Repair Remediation Plan from the borrower if"]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"The total Priority Repairs equals the greater of 100 bp of the loan amount or $200,000; or"]
[null,null,null,null,null,null,null,null,null,null,null,"• ",null,"The PCA indicates there are Priority Repairs likely to impact habitability  regardless of the estimated cost to remediate. Material repairs likely to impact habitability are:"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,null,"Structural repairs of foundation/building slabs, stairs, walkways, balconies, decks, and fire escapes"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,null,"Moisture and mold issues beyond typical housekeeping requiring a mold remediation professional or where a major building system is identified as the source of moisture"]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"-",null,null,"Repairs to major building systems such as electrical (excluding in-unit systems, fixture replacement such as GFCI outlets, smoke detectors, etc.), HVAC, plumbing, down elevator(s)"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Escrow amounts of 100% to 125% of total repair costs required with increased amounts (up to 175% or more) required in certain cases. Consideration given to Acquisition vs Refinance transaction, severe property conditions including habitability repairs and property condition ratings from engineer, Freddie Mac and/or Lender, the aggregate dollar amount of repairs, independent contractor bids for repairs impacting habitability and life safety"]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Ensure repair scope and location is specific"]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Conform to standard repair timelines: 90 days for all PR-90 repairs; 365 days for most other Priority Repairs; longer periods on a case-by-case basis for truly extensive work, work materially impacted by weather, or work that can only be completed at unit turnover"]
[]
[]
[]
[]
[null,"Provide report to appraiser"]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,"Report provided to appraiser for consideration in economic evaluation of the Property"]
[]
[]
[]
[null,"Reliance Language"]
[]
[null,"This report is for the use and benefit of, and may be relied upon by"]
[null,null,null,"(a)",null,null,null,"the Seller/Servicer, Freddie Mac and any successors and assigns (“Lender”);"]
[null,null,null,"(b)",null,null,null,"independent auditors, accountants, attorneys and other professionals acting on behalf of Lender;"]
[null,null,null,"(c)",null,null,null,"governmental agencies having regulatory authority over Lender;"]
[null,null,null,"(d)",null,null,null,"designated persons pursuant to an order or legal process of any court or governmental agency;"]
[null,null,null,"(e)",null,null,null,"prospective purchasers of the Mortgage; and"]
[null,null,null,"(f)",null,null,null,"with respect to any debt (or portion thereof) and/or securities secured, directly or indirectly, by the Property which is the subject of this report, the following parties and their respective successors and assigns:"]
[null,null,null,null,null,null,null,"•",null,null,"any placement agent or broker/dealer and any of their respective affiliates, agents and advisors;"]
[null,null,null,null,null,null,null,"•",null,null,"any initial purchaser or subsequent holder of such debt and/or securities;"]
[null,null,null,null,null,null,null,"•",null,null,"any Servicer or other agent acting on behalf of the holders of such debt and/or securities;"]
[null,null,null,null,null,null,null,"•",null,null,"any indenture trustee;"]
[null,null,null,null,null,null,null,"•",null,null,"any rating agency; and"]
[null,null,null,null,null,null,null,"•",null,null,"any institutional provider from time to time of any liquidity facility or credit support for such financings."]
[]
[null,"In addition, this report, or a reference to this report, may be included or quoted in any offering circular, information circular, offering memorandum, registration statement, private placement memorandum, prospectus or sales brochure (in either electronic or hard copy format) in connection with a securitization or transaction involving such debt (or portion thereof) and/or securities."]
[]
[null,{"$f":"\"Review Guide for Property Condition Reports (\"&TEXT(DP7,\"mm/yyyy\")&\")\"","v":"Review Guide for Property Condition Reports (05/2025)"}]