Endorsement of Insurance Loss Draft or Check When Payable to Fannie Mae

Any insurance loss draft or check issued by the insurance carrier must be made payable to Fannie Mae in care of the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , or as otherwise required by the mortgagee clause.  Provided the Lender ContractLender ContractProgram Documents per the Multifamily Selling and Servicing Agreement. contains nothing to the contrary, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is delegated the authority to endorse any insurance loss draft or check on Fannie Mae’s behalf, as follows:

Fannie Mae

By:  [Name of Servicer]

By:  [Name of Servicer’s Authorized Signer]

[Title of Servicer’s Authorized Signer].

If any insurance loss draft or check made payable to Fannie Mae or the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. is cashed by the BorrowerBorrowerPerson who is the obligor per the Note. without proper endorsement by Fannie Mae or the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must instruct the BorrowerBorrowerPerson who is the obligor per the Note. to send the funds to the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. within 5 Business DaysBusiness DaysAny day other than a Saturday, Sunday, day when Fannie Mae is closed, day when the Federal Reserve Bank of New York is closed, or for any MBS and required remittance withdrawal, day when the Federal Reserve Bank is closed in the district where any of the MBS funds are held. .  If the BorrowerBorrowerPerson who is the obligor per the Note. does not send the funds, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must contact Multifamily Asset ManagementMultifamily Asset ManagementTeam that can be contacted at [email protected].  immediately.