Get Form 1057sf: Letter Agreement For Servicer's Single ... - Freddie Mac

Filling out the Form 1057SF is an essential process for servicers managing single-family principal and interest custodial accounts. This guide provides clear instructions to help users complete the form accurately and efficiently online.

Follow the steps to complete the form correctly.

1. Click the ‘Get Form’ button to access the form and open it in the designated editor.
2. Identify the type of custodial account you wish to establish by selecting the appropriate checkbox, either 'Principal and interest account' or 'P & I disbursement clearing account'.
3. Enter the typed name of the depository institution that will manage the custodial account.
4. Fill in the depository's FDIC docket number, bank number, or ABA number as applicable.
5. Provide the typed address of the depository, ensuring accuracy to avoid any processing issues.
6. Authorize the depository to establish the deposit account for the collection of single-family principal and interest funds. Make sure to read and understand the implications of this authorization.
7. Select one of the options regarding the designation of the deposit account by checking the applicable box. This may include options for 'custodian and/or bailee' or specifying the type of Freddie Mac custodial account.
8. Complete the depositor's section with the typed name of the Servicer, the Seller/Servicer number, and the representative's typed name and title.
9. Sign and date the form, ensuring the signature is from an authorized representative.
10. On the reverse side, ensure that the depository certifies the existence of the deposit account by providing their details, including the account number.
11. Check the reasons for executing the Letter Agreement, and indicate if this is for establishing or replacing a custodial account.
12. Once all fields are completed accurately, save any changes made, and you may choose to download, print, or share the completed form.

Take the next step in your documentation process by completing your forms online today.