LeaseholdApproval Request

Exhibit 8(Conventional Prior Approval Loans only)

All information must be completed prior to submission for eligibility review. Email or fax this submission form and all required documentation to the National Project Review and Eligibility Services (NPRES) team, as noted below:

  • E-mail:
  • Fax: 866-918-9457Attention: Leaseholds
  • Phone: 800-840-5807, Option 4 (Monday – Friday 6:00 AM – 5:00 PM PT)

Note – Include in the subject line: Leasehold Review – Project name, city, state, and Wells Fargo Loan number

Seller Information

Seller Name Seller ID

Contact Name Contact Telephone Number

Contact Email Address

Leasehold Property Information

Name of Leasehold Property:

Name of Land Owner:

Property Address:

City: State: ZIP Code:

Comments/Instructions:

Borrower’s Loan Information

Borrower’s Name:

Wells Fargo Loan Number:

Purchase: Refinance: Loan Closing Date:

Loan Type (Conforming, Non-Conforming, etc.): Loan Term (Fixed 30, ARM, etc.):

Is there secondary financing for this transaction (Equity, SIMO, HELOC, etc.)?

Property Type (Condo, PUD, SFD, etc.):

The following documents are required for Leasehold review. Please use as a checklist when submitting
documents for review.

Appraisal report – Dated within 4 months of date of closing(if available)

Preliminary Title Report for Subject Property – Dated within 4 months of date of closing

Complete copy of the current lease

Complete copy of current sublease (if any)

All other recorded documents specific to lease (if any)

Additional documentation may be required after the file has been reviewed in order to determine acceptability.

After the leasehold is approved, please be advised that the following conditions will apply.

Prior to Closing: Verify with the HOA/Condo Association and/or the title company the amount of ground rent being assessed to the borrower. The monthly ground rent amount (if not included in the HOA dues) must be added to PITI calculations and the Loan decisioned accordingly.

At Closing:

  • Leasehold Rider is to be attached to the Security Instrument.
  • ALTA Lender’s title policy is to be issued including the ALTA 13.1 Leasehold Endorsement (CLTA 107.5 Endorsement for CA and HI).
  • Closing agent is to provide the lessor with an executed copy of the security instrument along with the lender’s address for purposes of default notification.
  • Current assignment of lease is to be fully executed and recorded (applies to purchases).

Note: Leasehold approvals are provided at an individual loan level, not as blanket approvals. Leasehold approvals do not apply to Loans submitted under a Seller’s delegated authority.

For additional questions, please contact us at 800-840-5807, option 4 (Monday – Friday 6:00 AM – 5:00 PM PT)

Last updated: 3/16/2015 / Exhibit8 - Page 1