FNMA Servicing Guide B-1-01 — Administering an Escrow Account and Paying Expenses

fnma-svc-b1-01

FNMA Servicing Guide B-1-01 governs escrow account administration: monitoring status of escrow and related charges (taxes, hazard/flood insurance, MI premiums, ground rents, HOA assessments), timely payment before penalty/termination dates, maximum-discount payment timing, escrow-waiver no-solicitation rule, and MIP-escrow-may-not- be-waived rule. Fills FNMA Servicing B-1 chapter gap.

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Verbatim regulatory text (5)

Verbatim provisions from FNMA Servicing Guide B-1-01 — Administering an Escrow Account and Paying Expenses — 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 B-1-01 — Timely payment of escrow charges before penalty/termination

ensure the timely payment of all escrow and related charges before any applicable penalty or termination date, and make payments for escrow-related expenses early enough to take advantage of any discount period to obtain the maximum discounts allowed whenever funds are available in the escrow account.

Source: FNMA Servicing Guide B-1-01 — Overview · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide B-1-01 — No solicitation of borrower to waive escrow

The servicer must not solicit a borrower with an offer to waive the escrow account requirements but is authorized to evaluate a borrower’s request subject to the requirements in the following table.

Source: FNMA Servicing Guide B-1-01 — Waiving Escrow Account Requirements · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide B-1-01 — MIP escrow may not be waived for monthly-premium loans

The servicer may not waive the individual escrow requirement for MIPs when the premiums are paid monthly.

Source: FNMA Servicing Guide B-1-01 — Waiving Escrow Account Requirements (MIP exception) · source URL · snapshot f662f911b3ddaf1d

FNMA Servicing Guide B-1-01 — Maintain accurate records on escrow and related charges

maintaining accurate records on the status of all escrow and related charges.

Source: FNMA Servicing Guide B-1-01 — Overview · source URL · snapshot f662f911b3ddaf1d

Operationalizing FNMA Servicing Guide B-1-01 — Administering an Escrow Account and Paying Expenses

This is verbatim, source-snapshotted regulator text from the Claude for Compliance open corpus. To turn a rule like this into compliance work product: gap-analyze your policies and procedures (P&Ps) against these requirements to surface stale, conflicting, or missing provisions; operationalize any change with a ready-to-run update kit; and produce audit-ready evidence — every step grounded only in the regulator’s own words, never invented.

To work from the whole rulebook rather than this one page: download the corpus — every register on this site, verbatim, each with its source snapshot and effective date — then follow the methodology. It asks your assistant to answer only from the downloaded text, cite the register id and effective date it used, and tell you when the corpus does not cover something instead of filling the gap from memory. Running it locally also means no one sees which regulations you are looking at.

Source of record: https://claudeforcompliance.com/regs/fnma-svc-b1-01/ · register fnma-svc-b1-01 · Claude for Compliance. Free to read and download; see regulatory updates and methodology.