Annual Statements

Operating Procedures

By January 31st of each year, you must issue the BorrowerBorrowerPerson who is the obligor per the Note. a T&I Custodial AccountT&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. statement reporting all activity during the preceding calendar year. You can provide this statement

in writing, or
via electronic access.

Guidance

Your annual T&I Custodial AccountT&I Custodial AccountCustodial Account for the deposit of T&I and other impound escrow funds. statement must include:

Borrower'sBorrower'sPerson who is the obligor per the Note. fund balance at the beginning of the year;
total BorrowerBorrowerPerson who is the obligor per the Note. deposits into the account;
total withdrawals you made;
itemized list of specific T&I ImpositionsT&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. and other charges (e.g., real estate taxes, insurance premiums, etc.) you paid with the withdrawals;
Borrower'sBorrower'sPerson who is the obligor per the Note. fund balance at the end of the year; and
amount of interest, if any, paid or credited to the BorrowerBorrowerPerson who is the obligor per the Note. on their funds.