My web

Deed Restriction Term Months Count

Fannie Mae with the implementation of ULDD Phase 5 will require that Deed Restriction Term Months Count be provided when there are Deed Restriction(s) on resale, which applies to Shared Equity programs. Specifically, it is the period in which the resale restrictions may remain in place on a given property.

Under the following conditions provide Deed Restriction Term Months Count

When SFC 054 Community Land Trust Mortgage has been provided
When SFC 630 Resale Restrictions Terminate at Foreclosure with LTV ratio Based on Market Value has been provided
When SFC 631 Resale Restrictions Survive at Foreclosure has been provided

Instructions for Delivering a Loan with Deed Restrictions

Deed Restriction Details	Sort Id	Field Name in Loan Delivery	Details
Community Land Trust Mortgage	368	Special Feature Codes	Enter “054”
Community Land Trust Mortgage	90.1	Deed Restriction Term Months Count	Enter the length of the period (in months) in which the resale restrictions may remain in place on the property. Enter the value Enter "0" if not known. Enter “999” if deed restriction remains in perpetuity.
Resale Restrictions Terminate at Foreclosure with LTV ratio Based on Market Value	368	Special Feature Codes	Enter “630”
	90.1	Deed Restriction Term Months Count	Enter the length of the period (in months) in which the resale restrictions may remain in place on the property. Enter the value Enter "0" if not known. Enter “999” if deed restriction remains in perpetuity.
Resale Restrictions Survive at Foreclosure	368	Special Feature Codes	Enter “631”
Resale Restrictions Survive at Foreclosure	90.1	Deed Restriction Term Months Count	Enter the length of the period (in months) in which the resale restrictions may remain in place on the property. Enter the value Enter "0" if not known. Enter “999” if deed restriction remains in perpetuity.
*Note: If more than one deed restriction exists then enter the number of months for the longest period.*