Minimum Servicing Standards
Applicable
Not Applicable
III. Disbursements
1.
Disbursements made via wire transfer on behalf of
a mortgagor or investor shall be made only by
X
authorized personnel.
2.
Disbursements made on behalf of mortgagor or
investor shall be posted within two business days to
X
the mortgagor's or investor's records maintained by
the servicing entity.
3.
Tax and insurance payments shall be made on or
before the penalty or insurance policy expiration dates,
X
as indicated on tax bills and insurance premium notices,
respectively, provided that such support has been received
by the servicing entity at least thirty (30) calendar days
prior to these dates.
4.
Any late payment penalties paid in conjunction
with the payment of any tax bill or insurance
X
premium notice shall be paid from the servicing
entity's funds and not charged to the mortgagor,
unless the late payment was due to the mortgagor's
error or omission.
5.
Amounts remitted to investors per the servicer's
investor reports shall agree with canceled checks,
X
or other form of payment, or custodial bank
statements.
6.
Unused checks shall be safeguarded so as to
X
prevent unauthorized access.
IV. Investor Accounting and Reporting
1.
The servicing entity's investor reports shall agree
with or reconcile to investors' records on a
monthly basis as to the total unpaid principal
X
balance and number of loans serviced by the
servicing entity.
V. Mortgagor Loan Accounting
1.
The servicing entity's mortgage loan records shall
agree with, or reconcile to, the records of
X
mortgagors with respect to the unpaid principal
balance on a monthly basis.
2.
Adjustments on ARM loans shall be computed
