Common Contracts
1 similar null contracts
CONSOLIDATION, EXTENSION, AND MODIFICATION AGREEMENT (CEMA)October 13th, 2017
The statutory provisions of New York permit certain mortgages to be documented by a Consolidation, Extension, and Modification Agreement (CEMA). The CEMA consolidates into one document the terms of prior notes and mortgages related to the security property and, if new funds are advanced to the Borrower(s) at the time of consolidation, the terms of the new note and mortgages. In such instances, the consolidation must be documented on Fannie Mae’s standard Consolidation, Extension and Modification Agreement, Form 3172 (or an equivalent Fannie Mae approved form). The
