Mortgage Payments Received After Servicing Transfer Date. The Seller shall promptly forward to Countrywide any payment received by it after the related Servicing Transfer Date with respect to any of the Mortgage Loans, whether such payment is in the form of principal, interest, taxes, insurance, loss drafts, insurance refunds, etc., in the original form received, unless such payment has been received in cash or by the Seller’s lock box facility, in which case the Seller shall forward such payment in a form acceptable to Countrywide. The Seller shall notify Countrywide of the particulars of the payment, which notification shall set forth sufficient information to permit timely and appropriate processing of the payment by Countrywide.
Appears in 3 contracts
Sources: Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3), Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar2), Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar1)