LenderLenderPerson approved by Fannie Mae to sell or service Mortgage Loans. account at an Eligible DepositoryEligible DepositoryAny Federal Reserve Bank, Federal Home Loan Bank, or other depository institution that: 1. has its accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to Fannie Mae; … used either for
- receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial AccountsCustodial AccountsAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. held solely for the benefit of Fannie Mae, or
- disbursing funds after transfer from a Fannie Mae Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds..