408.04L

Fees

If the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. permit, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. may collect and retain:

  • a reasonable fee to cover the Servicer’sServicer’sPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. routine costs of administering the Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. ; and
  • additional fees to cover:
    • reasonable inspection costs, including the fees of any qualified professional used by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. ; and
    • any other reasonable costs incurred in connection with collecting, holding, investing, or disbursing Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funds but which are not adequately covered by the general administrative fees collected from the BorrowerBorrowerPerson who is the obligor per the Note. .

Subject to the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. may charge the BorrowerBorrowerPerson who is the obligor per the Note. a reasonable fee for any special inspection services provided in connection with a Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. requisition; however, no fee may be charged if such inspection is made as part of a regularly scheduled PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). inspection.

Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funds, including any interest, may not be used to cover fees due to the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. unless:

  • the Loan DocumentLoan DocumentAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. specifically permits the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. to use Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funds to pay ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. inspection fees; or
  • the BorrowerBorrowerPerson who is the obligor per the Note. otherwise agrees in writing.