Non Interest-Bearing Trust Accounts Flashcards
0
Q
Reason for removal 2
A
Refunds to the borrower
1
Q
Reason for removal 1
A
Payments authorized by the borrower, allowed by the mortgage lending agreement, or required by state or federal law
2
Q
Reason for removal 3
A
Transfer of funds to a trust account in another depository institution
3
Q
Reason for removal 4
A
Forwarding of funds when there is a new loan servicer for the mortgage loan
4
Q
Reason for removal 5
A
Removal for any other legal reason stated in the lending agreement
5
Q
Reason for removal 6
A
Compliance with the order of a court of regulatory agency