EFTA01279925.pdf — Epstein Files Explorer

AI Summary

A mortgage loan denial form from Fifth Third Bank for a condominium project called 'The Ratcliffe', denied due to multiple issues including commercial space exceeding limits and missing documentation. This appears to be a routine banking document unrelated to the Epstein case. [Rating: 2/10 - Standard banking document for a routine mortgage loan denial with no apparent connection to Epstein case]

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financial_transactions

Extracted Entities

Name	Type	Context
The Ratcliffe	location	Condominium project being reviewed for loan approval
Fifth Third Bancorp	organization	Bank reviewing the condominium loan application
Michelle Connor	person	Reviewer who processed the loan denial on 11/3/14

Full Text

Email to: Condo Review Box From Affiliate:
Loan Number Borrowers Name Condo The Ratcliffe
Conforming Loan- Condo Review Response
Response:
Fully approved:
Conditionally approved subject to:
Counteroffer to Streamline Review (90% Primary/75% Second Home w/AUS approval)
X Denied Reason:
I. Project is non-warrantable due to the commercial/non-residential space exceeding >20% &
on 5/3 ineligible list
2. Missing 2014 budget
3. Missing title
4. Missing insurance certificate for the HOA (Association) showing ALL of the following &
referencing the borrower's name/property address:
a. Building Coverage with Replacement Cost verbiage (ie. 100% replacement cost or
guaranteed replacement cost or just replacement cost)
b. Comprehensive general liability insurance covering all of the common elements,
commercial space owned and leased by the owner's association, and public ways of
the condominium project. $1,000,000 of coverage for bodily injury and property
damage.
c. Sufficient fidelity/employee dishonesty coverage (must be equal to at least 3 mths of
regular unit assessments for entire project).
d. 5/3 as Mortgagee/Certificate Holder-Fifth Third Bancorp, 1SAOA PO Box 598
Amelia, OH 45102
5. Missing walls- in coverage (Quotes & Applications not accepted): Need insurance policy for
association to show HOA's policy covers the interior fixtures of the units in the project
(cabinets, wall coverings, floor coverings, etc). If the association's policy does NOT cover
the unit's interior, then the borrower must obtain "walls-in" coverage which would be
included on their HO-6 policy. The policy must provide coverage in an amount no less than
20% of the condominium unit's appraised value and must show 513 as mortgagee: Fifth
Third Bancorp, ISAOA PO Box 598 Amelia, OH 45102 Please note personalp roperty
coven only contents, we need the interior fixtures oft he unit covered- wall coverings, flooring,
cabinets, etc. to be covered which is normally covered under "dwelling" or "building property".
Coverage for at least $124,000 is required.
Michelle Connor 11/3/14
Reviewer's Name Date
Internal Use Only 04/20/10
CONFIDENTIAL
SDNY_GM_00030572
EFTA_00141190
EFTA01279925