Fannie Mae Servicing Guide E-3.2-10 — Paying Certain Expenses During the Foreclosure Process
Fannie Mae Servicing Guide E-3.2-10 — Paying Certain Expenses During the Foreclosure Process.
Verbatim regulatory text
Verbatim provisions from Fannie Mae Servicing Guide E-3.2-10 — Paying Certain Expenses During the Foreclosure Process — 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.
Fannie Mae Servicing Guide E-3.2-10 — Paying Certain Expenses During the Foreclosure Process
E-3.2-10, Paying Certain Expenses During the Foreclosure Process (11/12/2014) The servicer must use any funds remaining in the borrower’s escrow deposit account to pay T&I premiums that come due during the foreclosure process. The servicer also may use escrow funds to pay costs for the protection of the security and related foreclosure costs as long as state or local laws, government regulations, or the requirements of the mortgage insurer or guarantor do not preclude the use of escrow funds for these purposes. If the escrow balance is not sufficient to cover these expenses, the servicer must advance its own funds. See also Advancing Funds to Cover Expenses in B-1-01, Administering an Escrow Account and Paying Expenses for additional information.
Operationalizing Fannie Mae Servicing Guide E-3.2-10 — Paying Certain Expenses During the Foreclosure Process
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Source of record: https://claudeforcompliance.com/regs/fnma-svc-e-3-2-10/
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