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Multifamily Document Reform Implementation Frequently Asked Questions

Working Capital Escrow

 

  1. 9/26/2013
    Can you please tell me if there was a Mortgagee Letter that required the lender to fill out a HUD 2464 to release the Working Capital Escrow the same as the ODE, Offsite & Construction Change Order Escrow?

 

 

 1. 9/26/2013
Can you please tell me if there was a Mortgagee Letter that required the lender to fill out a HUD 2464 to release the Working Capital Escrow the same as the ODE, Offsite & Construction Change Order Escrow?

No. There was no Mortgagee Letter that required completion of HUD form 2464. In practice a lender may initiate the release of the working capital escrow using either HUD form 92464 or an explanatory letter..

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