Non Interest-Bearing Trust Accounts Flashcards

0
Q

Reason for removal 2

A

Refunds to the borrower

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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

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2
Q

Reason for removal 3

A

Transfer of funds to a trust account in another depository institution

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3
Q

Reason for removal 4

A

Forwarding of funds when there is a new loan servicer for the mortgage loan

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4
Q

Reason for removal 5

A

Removal for any other legal reason stated in the lending agreement

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5
Q

Reason for removal 6

A

Compliance with the order of a court of regulatory agency

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