408.04N
Return of Replacement Reserve Funds to Borrower
No later than 30 days after the 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. is paid in full, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must refund to the BorrowerBorrowerPerson who is the obligor per the Note. all remaining Replacement ReserveReplacement ReserveCustodial Account the Borrower funds during the Mortgage Loan term for Replacements. funds.