Changes to a Custodial Account

The ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g.,  the originator, the selling Lender, or a third-party servicer). and the depository institution must execute and forward the appropriate Form 2050, Form 2051, or Form 2052 to Fannie Mae, within 30 days after the event, if it:

• changes the 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; … for any Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. (note that the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g.,  the originator, the selling Lender, or a third-party servicer). must provide Fannie Mae with a new Letter of Authorization for any Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. moved to a different 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; …); or
• changes account information on an existing Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds..