Loss Drafts. o Seller shall provide Purchaser a listing of all loans with a loss draft pending with corresponding file. o Proceeds remaining in a restricted account shall be forwarded to and be supported by a loan level trial balance. Seller is responsible for any interest payable on loss draft funds required by state and/or investor regulations prior to Transfer Date.
Appears in 7 contracts
Sources: Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar), Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar), Seller's Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Loss Drafts. o Seller shall provide Purchaser a listing of all loans with a loss draft pending with corresponding file. o · Proceeds remaining in a restricted account shall be forwarded to and be supported by a loan level trial balance. Seller is responsible for any interest payable on loss draft funds required by state and/or investor regulations prior to Transfer Date.
Appears in 3 contracts
Sources: Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Seller’s Purchase, Warranties and Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)