Custodial Account
Account established by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. for depositing P&IP&IPrincipal and interest payments, T&IT&ITaxes or assessments that may become a Lien on the Property and insurance premiums. payments, and escrow, reserve, or other funds received from the BorrowerBorrowerPerson who is the obligor per the Note. per any Loan DocumentLoan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , including the:
- Collateral AgreementCollateral AgreementAgreement granting a security interest in Mortgage Loan collateral not covered by the Security Instrument. ;
- Multifamily Loan AgreementMultifamily Loan AgreementAgreement evidencing Mortgage Loan terms using Form 6001 series Loan Documents, or another Fannie Mae-approved form. ; or
- Security InstrumentSecurity InstrumentInstrument creating a lien or encumbrance on 1 or more Properties and securing the Loan Document obligations. .
Synonyms
Custodial Accounts