408.04N
Return of Replacement Reserve Funds to Borrower
No later than 30 days after the 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 is paid in full, the Servicer ServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must refund to the Borrower BorrowerPerson who is the obligor per the Note. all remaining Replacement Reserve Replacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funds.