Permissible Withdrawals. With respect to each related Borrower, the Servicer may make withdrawals from each respective Custodial T&I Account to the extent of the balance of such related Borrower's Escrow Funds for the following: (a) timely payment of such related Borrower's taxes and insurance premiums; (b) refunds to such related Borrower of excess Escrow Funds collected from such Borrower; (c) recovering T&I Advances made with respect to such related Borrower by the Servicer; (d) payment of interest, if required, to such related Borrower on his Escrow Funds; (e) removal of any deposits made in error; and (f) termination of the account.
Appears in 41 contracts
Sources: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar5 Trust), Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-19 Trust)
Permissible Withdrawals. With respect to each related Borrower, the Servicer may make withdrawals from each respective Custodial T&I Account to the extent of the balance of such related Borrower's Escrow Funds for the following:
(a) timely payment of such related Borrower's taxes and insurance premiums;
(b) refunds to such related Borrower of excess Escrow Funds collected from such Borrower;
(c) recovering T&I Advances made with respect to such related Borrower by the Servicer;
(d) payment of interest, if required, to such related Borrower on his Escrow Funds;
(e) removal of any deposits made in error;
(f) to transfer payment on account of Buydown Funds and/or Subsidy Funds to the Custodial P&I Account; and
(fg) termination of the account.
Appears in 34 contracts
Sources: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-3 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-4 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-12 Trust)
Permissible Withdrawals. With respect to each related Borrower, the Servicer may make withdrawals from each respective Custodial T&I Account to the extent of the balance of such related Borrower's Escrow Funds for the following:
(a) timely payment of such related Borrower's taxes and insurance premiums;
(b) refunds to such related Borrower of excess Escrow Funds collected from such Borrower;
(c) recovering T&I Advances made with respect to such related Borrower by the Servicer;
(d) payment of interest, if required, to such related Borrower on his Escrow Funds;
(e) removal of any deposits made in error; and
and (f) termination of the account.
Appears in 1 contract
Sources: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-4 Trust.)
Permissible Withdrawals. With respect to each related Borrower, the Servicer may make withdrawals from each respective Custodial T&I Account to the extent of the balance of such related Borrower's ’s Escrow Funds for the following:
(a) timely payment of such related Borrower's ’s taxes and insurance premiums;
(b) refunds to such related Borrower of excess Escrow Funds collected from such Borrower;
(c) recovering T&I Advances made with respect to such related Borrower by the Servicer;
(d) payment of interest, if required, to such related Borrower on his Escrow Funds;
(e) removal of any deposits made in error; and
(f) termination of the account.
Appears in 1 contract
Sources: Servicing Agreement (Wells Fargo Asset Securities Corp)