FNMA Servicing Guide A4-1-02 — Establishing Custodial Bank Accounts

fnma-svc-a4-1-02

FNMA Servicing Guide A4-1-02 governs custodial bank accounts for servicer-held P&I and T&I funds: mandatory custodial-account holding for portfolio and MBS loan funds, servicer responsibility for safekeeping at all times (including FNMA-recovery liability for any loss), monthly status reporting to FNMA, eligible custodial depository criteria (FDIC/NCUSIF insured, well-capitalized, financial ratings), continuous depository-eligibility monitoring, and 3-business-day FNMA notification if depository falls below eligibility thresholds. Fills FNMA Servicing A4-1-02 gap.

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Verbatim regulatory text (5)

Verbatim provisions from FNMA Servicing Guide A4-1-02 — Establishing Custodial Bank Accounts — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

FNMA Servicing Guide A4-1-02 — Hold mortgage-loan funds in custodial bank account

The servicer must hold in a custodial bank account any funds it receives for a portfolio mortgage loan or a MBS mortgage loan.

Source: FNMA Servicing Guide A4-1-02 — Overview · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide A4-1-02 — Servicer responsibility for safekeeping at all times

The servicer is responsible for the safekeeping of custodial funds at all times.

Source: FNMA Servicing Guide A4-1-02 — Overview · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide A4-1-02 — Monthly status of funds report to Fannie Mae

The servicer must provide Fannie Mae with a status of the funds in the custodial account at the end of each month.

Source: FNMA Servicing Guide A4-1-02 — Overview · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide A4-1-02 — Monitor custodial depository ratings continuously

The servicer must monitor these ratings based on the frequency used by the ratings agency for publishing and updating rating changes to determine the continued eligibility of a depository institution.

Source: FNMA Servicing Guide A4-1-02 — Eligible Custodial Depositories · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide A4-1-02 — Notify FNMA within 3 business days of depository eligibility failure

The servicer must notify Fannie Mae within three business days when its custodial depository fails to meet Fannie Mae’s eligibility requirements.

Source: FNMA Servicing Guide A4-1-02 — Remedies for Ineligible Custodial Depository · source URL · snapshot f662f911b3ddaf1d

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Source of record: https://claudeforcompliance.com/regs/fnma-svc-a4-1-02/ · register fnma-svc-a4-1-02 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.