304.01

Deposits

Requirements

You must:

  • use T&I Custodial Accounts T&I Custodial AccountsCustodial Account for the deposit of T&I and other impound escrow funds. for
    • all Borrower BorrowerPerson who is the obligor per the Note. payments for T&I Impositions T&I ImpositionsAmounts for taxes, insurance, and other charges assessed against or owing on the Property which you deem necessary to protect the Property and/or prevent Liens imposed on it. per  Part V, Chapter 3: Custodial Accounts, Section 304.02: T&I Impositions , and
    • Servicing Advances Servicing AdvancesAll amounts required to be paid by the Borrower, for all taxes and assessments against each Property, all insurance premiums for insurance for each Property to insurance carrier(s) acceptable to Fannie Mae, in accordance with the Guide, and any other payment, as determined by Fannie Mae,… you make for these items; and
  • not commingle T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. funds with
    • P&I Custodial Account P&I Custodial AccountCustodial Account for principal and interest deposits. funds, or
    • funds for any other Custodial Account Custodial AccountAccount established by the Servicer for depositing P&I payments, T&I payments, and escrow, reserve, or other funds received from the Borrower per any Loan Document, including the: Collateral Agreement; Multifamily Loan Agreement; or Security Instrument. .

Operating Procedures

You may establish:

  • 1 T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. for all T&I T&ITaxes or assessments that may become a Lien on the Property and insurance premiums. deposits from all Mortgage Loans Mortgage LoansMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 ; or
  • 2 separate T&I Custodial Accounts T&I Custodial AccountsCustodial Account for the deposit of T&I and other impound escrow funds. , with funds for all 
    • Cash Mortgage Loans Cash Mortgage LoansMortgage Loan purchased by Fannie Mae in exchange for cash. in 1 T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. , and 
    • Securitized Mortgage Loans Securitized Mortgage LoansMortgage Loan backing an MBS, PFP MBS, or REMIC. in the other T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. .

You must obtain Fannie Mae Fannie MaeThis Glossary term Is Created Using Automation in Lower Environments and is used for testing purposes only!! ’s consent to establish a separate T&I Custodial Account T&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. for an individual

  • Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or  a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 , or
  • Borrower BorrowerPerson who is the obligor per the Note. .