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      Multi-Indebtedness Mortgage (MIM) Support for Louisiana Loans

      📁 How MIM Will Be Documented Across Loans

      Before diving into the step-by-step guide, it’s important to understand how the Multiple Indebtedness Mortgage (MIM) will appear in your loan packages. Here's a simplified breakdown:

      🏦Loan 1 Document Package

      • Includes the MIM: This package contains the actual Multiple Indebtedness Mortgage tied to Loan 1.

      • Covers Collateral: The MIM will also reference the commercial real estate collateral for Loan 1, plus any additional loans you link to this MIM (e.g., Loan 2, Loan 3).

      • Full Loan Docs: You’ll find the complete set of documents for Loan 1—such as the Loan Agreement, Note, Guaranty, etc.

      • MIM Reference: These documents will clearly reference the MIM to show how it applies to this loan and any linked loans.

      📄 Loan 2, Loan 3, etc Document Packages

      • No Mortgage Included: These packages will not include a separate mortgage document.

      • Full Loan Docs: Each loan will still have its own complete set of documents—Loan Agreement, Note, Guaranty, etc.

      • MIM Reference Only: Instead of a new mortgage, these documents will reference the MIM that was included in Loan 1’s package.

       

      With that documentation structure in mind, here’s how to use it correctly:

      ✅ Step-by-Step Guidance

      1. For Loan #1:

        1. Navigate to the Property Page

        2. Choose Louisiana as the State

        3. Select “Use New MIM”. This creates the initial MIM document that future loans will reference.

          1. Enter the MIM No. and MIM Maximum Loan Amount

        4. GoDocs recommends using the Table ID of Loan #1 as the MIM No. (You can find the Table ID of Loan #1 on the Dashboard)

      2. For Loan #2 and Beyond:

        1. Navigate to the Property Page

        2. Choose Louisiana as the State

        3. Select “Use Existing MIM” and use the "Select Existing MIM No." drop-down to link subsequent loans to the original MIM. (Note: this drop-down will show all MIMs the customer has ever entered into the GoDocs system.)  

      ⚠️ Important: Complete All MIM Loan Data Entry Before Ordering Documents

      To ensure proper linkage and compliance for Multi-Indebtedness Mortgage (MIM) loans in Louisiana, users must complete all data entry for all related MIM loans before ordering any documents.

      🧩 Why This Matters:  The document set assigns a Reference ID (Table ID) to link all loans to the original MIM (i.e. the table ID used in the data entry for Loan #1 creation of a new MIM). This reference ID is embedded throughout the documents and relies on full data visibility across all related loans.

      Ex. New MIM Loan #1 Order = Table ID/ Ref No 5930

      Existing MIM Loan #2 Order = Table ID/ Ref No 5931

      ✅ Best Practice:

      • Enter all loan details for Loan #1 and any subsequent loans that will be secured by the same MIM.

      • Once all data is entered, "order" Loan #1 first, then all subsequent loans follow.