All disbursements from any escrowed funds are processed through Loan Servicing or Construction Administration. Lenders, not matter lending authority levels, and Lending Assistants are not permitted to disburse funds and offset the LIP account.

To disburse funds from an escrow, including replacement reserves, a Lender must authorize the disbursement amount by doing the following:

1. Send an e-mail to _Loan Svc - Maintenance & Draw.
2. In the body of the e-mail, indicate the means of disbursement:
   1. Check cut directly to the client.
   2. Funds deposited in the client's account (insert account #) with CCB.
   3. Check issued directly to the Vendor.
3. Attach copies of invoices.

Disbursements are made within 48 hours of receipt by Loan Servicing. Owner Funds to be used for construction are processed through Construction Administration.