Servicing Guide

Published September 9, 2020

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What is the required draft date for custodial bank accounts?

As described in P&I Custodial Accounts in A4-1-02, Establishing Custodial Bank Accounts, the required draft date will differ based on the type of draft.

The following table describes the schedule for various types of drafts.

Draft Type Drafting Schedule

MBS LLPAs

Fifth business day of the month following issuance of the related MBS pool

  • Guaranty fees

  • Guaranty fee buydown charges

Seventh business day of each month (or on the preceding business day if the seventh is not a business day)

Other fees and charges, such as

  • Upfront commitment fees

  • Pair-off or extension fees

  • Pool contract fees

Throughout the month


For further information please see F-1-03, Establishing and Implementing Custodial Accounts

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