302.01

Notifications

Operating Procedures

Within 30 days of opening or closing a Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. , or changing the Eligible Depository or Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. information:

Step 1:  You and the depository institution must execute the applicable:

  • Letter of Authorization for Multifamily P&I Custodial Account (Form 2050);
  • Letter of Authorization for Multifamily T&I Custodial Account (Form 2052); or
  • Letter of Authorization for Multifamily Collateral Agreement Custodial Account (Form 2051).

Step 2:  You must submit the executed document per the form’s instructions.