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  • Principal And Interest Pi Custodial Account Analysis Form 496 Principal And Interest Pi Custodial

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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Instructions Principal and Interest (P&I) Custodial Account Analysis Every month, a servicer must use the Principal and Interest (P&I) Custodial Account.

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What's the Difference Between Escrow and Custody? Custody accounts differ from escrow accounts in that the funds or assets held in a custody account are not being held for a specific transaction.

A bank account that a lender must establish to hold the funds of others—the borrower and Fannie Mae—as opposed to any account established to hold the lender's corporate funds. See links below for more Glossary Terms: E-3, Glossary of Fannie Mae Terms: A thru K.

A custodial account is generally created by a parent or grandparent for the benefit of a minor child or grandchild. When you put money into a custodial account, you make a gift to the minor beneficiary of the account, even though the minor does not control the account.

The chief disadvantage is that custodians lose control of the money once the minor reaches the age of majority. Having custodial accounts can also negatively affect the financial aid prospects of a child.

A custodial account is a means by which an adult can open a savings account for a child. The adult who opens the account is responsible for managing it, including making investment decisions, and deciding how the money is to be used, so long as it benefits the child in some way.

Can I change my mind and take back assets after I've set up a custodial account? No. Money and assets deposited into a custodial account immediately and irrevocably become the property of the child. In other words, you can't take the assets back or give the assets to someone else.

The servicer must maintain separate P&I custodial accounts for each remittance type for Fannie Mae mortgage loans under which the servicer reports. The servicer, at its discretion, is authorized to maintain multiple P&I custodial accounts per remittance type.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232