OUS Job Aid: Difference between LST 1.5 and LST 2.1 (ver.oct 2013)

Transcription

1 About this Job Aid: This job aid uses a brief description and screen shot to identify information in the LST 2.1 (ver.oct2013) and not in the LST 1.5 Overview Layout Same Name with the same data requirements for the most part: Instructions,, Quote Scenario #2, Rent Roll, I&E, and collections. LST 2.1 (ver.oct2013): has Commercial Rent Roll, Sales Comps and Rent Comps does not TAH & Bonds and Construction out of scope for Phase 1 does not have Addendum G, FMAC Brief part A and the tabs colored: This information used internally by Freddie Mac and will now be generated from OUS. 1

2 Section A. Property Data breaks out Garage Spaces into No. of Attached Garage Spaces (row 28) and No. of Detached Garage Spaces (row 29). 2

3 Section B. Loan Terms has new line item for Lien position (row 63) and Buy-Up (Fees Out) in Percentage (row 87) replaces Buy-Up (Fees Out) in Dollars. More options are listed in the Prepay Type drop-down (row 71). Only use Other when prepay type is not listed in the drop-down. Section G. is labeled Refinance and Construction Take Out Transactions. 3

4 Section I. Sources and Uses display the line items instead of data entry. LST 2.1 LST 1.5 Only alphanumeric values for Property Name are allowed. If you enter a non-alphanumeric value, you will receive an error message. 4

5 Number of Units is auto populated (not editable by the user) based on rules. A cell message is displayed with the following: Value is populated with total number of units entered in Rent Summary/Rent Roll tab if present. If not present, then value is populated with total number of unites entered in the Rent Summary/ tab. Reference text for Number of Units has been changed to (Value populates I&E tab). Quote Scenario #2 Lien position (row 7) and Max Capped Note Rate (%), located on row 24, are new data requirements. Buy- Up (Fees Out) in Percentage (row 29) replaces Buy-Up (Fees Out) in Dollars. 5

6 Rent Roll NRI (row 133) replaces Collections w/out Allowance. Employee Allowance (row 134) replaces Allow/Model. Commercial Rent Roll The Commercial Rent Roll is a new tab and is completed for commercial units on commercial leases. 6

7 LST I&E Ground Rents (row 71) are included in the Total Expenses section. Capital Expenditures (row 77), previously included in Replacement Reserves, is now a separate line item. Additional cash flow types are available. i.e. Appraisal 7

8 I&E In the S/S U/W NRI section (columns AW and AX) the Month and Year are split. The values can be entered via the drop-down menus in each cell. I&E Rename the Sheet / Portfolio section to Sheet. 8

9 I&E As Stabilized Borrower, Appraiser and S/S Proforma columns are hidden at initial opening and are easily unhidden. Hidden: Easily Unhidden: 9

10 Collections Collections tab: 1. There is not a X Adjustment column 2. T9 Physical Occupancy calculation is fixed 3. Net Rental Income = GPR + Vacancy + Concessions + Bad Debt + Add Back Non Revenue 4. Normalized Bad Debt and Normalized Collections are new columns; default to $0, Year Total calculation Sales Comps A new Sales Comparable tab is added. This will require additional data and input by the Seller however, it helps the Freddie Mac Underwriter process the deal in a more efficient manner. 5 Comparable Properties is the default. 5 additional Comparable Properties can be added. Criteria for uploading a Comparable Property to OUS is the Property Name 10

11 s Rent Comps A new Rents Comparable tab is added. This will require additional data and input by the Seller however, it helps the Freddie Mac Underwriter process the deal in a more efficient manner. 5 Comparable Properties is the default. 5 additional Comparable Properties can be added. 5 additional Unit Types for a Comparable Property can be added Criteria for uploading a Comparable Property to OUS is the Property Name Criteria for uploading the Unit Types for a Comparable Property is the Rent Range / Unit LST Upload Considerations To attain successful upload to OUS, LST 2.1 (ver.oct2013) requires an.xlsm file extension. LST 1.5 requires an.xls file extension. fields (free form) do not use special characters such as #, *, etc., limit is 30 characters including spaces. If you need to provide more details, include that information in the Brief description. Do not type over drop-down boxes. Enter the correct County and ZIP code. Production Support For the TAH Phase 1 Rollout of OUS, Please contact your Freddie Mac Deal Team for LST Production Support. 11