AUTOMATIC WITHDRAWAL. If you have your payment automatically withdrawn from a savings or checking account you do not need to take any action; we will make the necessary changes for you. If your payment is drafted prior to November 16th, there will be no change to the drafting date. However, if your payment is normally drafted between November 16th and November 27th, it will be drafted on or about November 29th. The November payment will not be considered late. All future drafting dates will be unaffected by this change. If sufficient funds are not available in your checking or savings account at the time of the scheduled draft, no second attempt will occur. You may also be charged a fee for non-sufficient funds.
Appears in 2 contracts
Sources: Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Asset Securitization Trust 2006-2), Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Alternative Loan Trust 2006-3)