Servicing Advance
All amounts required to be paid by the BorrowerBorrowerPerson who is the obligor per the Note. , for
- all taxes and assessments against each PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). ,
- all insurance premiums for insurance for each PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). to insurance carrier(s) acceptable to Fannie Mae, in accordance with the GuideGuideMultifamily Selling and Servicing Guide that: controls all Lender and Servicer requirements unless a Lender Contract specifies otherwise; and includes any exhibits, appendices, or other referenced forms, as updated, amended, restated, modified, or supplemented. , and
- any other payment, as determined by Fannie Mae, necessary to preserve and protect the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). or to exercise any legal or equitable remedies (other than foreclosure) against the BorrowerBorrowerPerson who is the obligor per the Note. or the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). (including attorney, appraisal, or other professional fees) or any other obligations relating to the PropertyPropertyMultifamily residential property securing the Mortgage Loan and including the land (or Leasehold interest in land), Improvements, and personal property (as defined in the Uniform Commercial Code). as set forth in the Loan DocumentsLoan DocumentsAll documents evidencing, securing, or guaranteeing the debt obligation executed for a Mortgage Loan and approved by Fannie Mae. .
Synonyms
Servicing Advances