301.02
Fannie Mae's Rights
Requirements
Fannie Mae has a security interest in all Mortgage LoanMortgage 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. Custodial AccountsCustodial AccountsAccount 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. and may require you to:
- transfer funds from an institution (even if it is an Eligible Depository) into another Eligible Depository;
- move funds to a trust account;
- ensure funds are fully insured with the FDICFDICFederal Deposit Insurance Corporation, NCUSIFNCUSIFNational Credit Union Share Insurance Fund administered by the National Credit Union Administration., or other acceptable governmental insurer or guarantor;
- remit more frequently while allowing funds to remain in the existing Custodial AccountCustodial 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.; and
- take other actions based on risks, account size, and other factors.