Verifying Depository Ratings

When determining the eligibility of a depository institution, the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g.,  the originator, the selling Lender, or a third-party servicer). must use the most recent financial ratings issued within the past 3 months, and must confirm these ratings every 3 months thereafter.  If the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g.,  the originator, the selling Lender, or a third-party servicer). learns that a depository institution or its holding company no longer satisfies the rating requirement for an Eligible DepositoryEligible DepositoryAny Federal Reserve Bank, Federal Home Loan Bank, or other depository institution that: 1.  has its accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to Fannie Mae; …, the Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. must be transferred to an Eligible DepositoryEligible DepositoryAny Federal Reserve Bank, Federal Home Loan Bank, or other depository institution that: 1.  has its accounts insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to Fannie Mae; … within 30 days.