408.02D

Releasing Additional Escrows for Principal and Interest, Taxes and Insurance, and Replacement Reserves

Notwithstanding anything contained in this Chapter, if no Event of Default has occurred and is continuing under any of the Loan Documents Loan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. (including Forbearance), the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to waive any Loan Document Loan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. requirement prohibiting the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. from immediately approving a partial or final disbursement request of Additional Escrows for P&I P&IPrincipal and interest , T&I T&ITaxes or assessments that may become a Lien on the Property and insurance premiums. , and Replacement Reserves Replacement ReservesCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. required by:

  • Form 6268  – Modifications to Multifamily Loan and Security Agreement (Additional Reserve Escrows);
  • Form 6640  – Amendment to Multifamily Loan and Security Agreement (Additional P&I Escrow Agreement); or
  • Form 6641  – Additional P&I Escrow Agreement (4000 series Loan Documents).

The Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to: 

  • determine whether the waiver requires a Loan Document Loan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. amendment; and
  • document any amendment in any form the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. determines to be legally enforceable.

Servicers ServicersPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must document all disbursement requests, including any supporting documentation and analysis, in the Servicing File Servicing FileYour file for each Mortgage Loan serviced. .