Release COVID-Related Additional Escrows | Fannie Mae Multifamily Guide

Guide Update 21-06

: Release COVID-Related Additional Escrows

Effective: 05/28/21

Retired: 12/31/21

Print/Download Summary

Associated Documents:

Release COVID-Related Additional Escrows (Redline).pdf

Form 4636.TA (Redline).pdf

Form 4636.TA

Summary of Changes:

HIGHLIGHTS
Effective May 28, 2021, if a Mortgage Loan is not currently in Default (including in Forbearance), you are delegated the authority to waive any Loan Document requirement prohibiting you from immediately approving a partial or final disbursement request to release Additional Escrows for Principal and Interest, Taxes and Insurance, and Replacement Reserves.

HIGHLIGHTS

Effective May 28, 2021, if a Mortgage Loan is not currently in Default (including in Forbearance), you are delegated the authority to waive any Loan Document requirement prohibiting you from immediately approving a partial or final disbursement request to release Additional Escrows for

Principal and Interest,
Taxes and Insurance, and
Replacement Reserves.

Primary Changes

If a Mortgage Loan is not currently in Default (including in Forbearance), you:
- are delegated the authority to waive any Loan Document requirement prohibiting you from immediately approving a partial or final disbursement request to release Additional Escrows for
  - Principal and Interest,
  - Taxes and Insurance, and
  - Replacement Reserves; and
- must document all disbursement requests in your Servicing File.
Updated Form 4636.TA to delete question #34 regarding Supplemental Mortgage Loan P&I Reserves.

Questions
Please contact Michael Dick at (202) 752-6634, or [email protected], with any questions.