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Reserve Account Disbursement Instructions

If the mortgage documents reference one or more reserve accounts (e.g. recurring replacement, deferred maintenance, environmental, tenant improvement, etc.), the information found below will provide a guideline for the submission of disbursement requests from your reserve account(s). The following items should be submitted with each and every reserve disbursement request:

  1. Completed Borrower Certification signed by an authorized signer(s) of the borrower.
  2. Completed Reserve Disbursement Request Schedule.
  3. Copies of all vendors' and contractors' invoices. Proposals, quotes, and estimates do not qualify.
  4. Copies of cancelled checks or bank statements for each of the invoices referenced in step 3.
  5. Notarized Unconditional lien waiver from each contractor providing an invoice in excess of $10,000 that contains any amount of labor. Blank Lien Waiver forms will be provided upon request.
  6. For deferred maintenance requests, a copy of the list of Deferred Maintenance/Immediate Repair items from the property condition report.

Please note:

  1. Please refer to your mortgage documents for complete disbursement release requirements.
  2. Without a complete package, the processing of your disbursement request will be delayed.
  3. Please submit your complete disbursement request only once using ONE of the following methods (do not submit your request using multiple methods, e.g. faxed and mailed):

Email

Fax

U.S. Mail and Overnight

U.S. Mail and Overnight

Email this article

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* In the event that a person other than a signatory of the loan documents will be making reserve disbursement requests, Wachovia Bank, National Association must receive a written statement from the borrower that such person(s) is/are authorized to make requests and execute the necessary certifications.
Wachovia Securities is the trade name for the corporate and investment banking services of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC ("WCM"), member FINRA/SIPC.

Debt and equity underwriting, trading, research and sales, loan syndications agent services, and corporate finance and M&A advisory services are offered by WCM.

Mezzanine capital, private equity, municipal securities trading and sales, cash management, credit, international, leasing and risk management products and services are offered by various non-broker dealer subsidiaries of Wachovia Corporation.

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•How to Access WIRESTM
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•Reserve Account Disbursement Request
•Unconditional Lien Waiver
•Conditional Lien Waiver
•Borrower's Certificate Form
•Reserve Processing FAQs

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