406.03
Insurance Escrow Funding
Guidance
You may choose not to fund monthly escrow deposits for insurance premiums for a TierTierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 3 or TierTierTier 1, Tier 2, Tier 3, or Tier 4 per the Multifamily Underwriting Standards (Form 4660). 4 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. .
Requirements
If you choose not to fund monthly deposits for insurance premiums, you must require the BorrowerBorrowerPerson who is the obligor per the Note. to provide annual proof of payment of all insurance premiums.