Pledged Accounts. There are no pledged accounts relating to a Mortgage Loan that must be maintained or administered by the Buyer except for a pledged account (a) relating to a Mortgage Loan without an Escrow Account; and (b) the proceeds of which may, but need not be, used by the Servicer to pay for any deficiency in a real estate tax payment that otherwise would have been paid from the funds contained in such Escrow Account.
Appears in 2 contracts
Sources: Mortgage Loan Servicing Purchase and Sale Agreement (Homeside Lending Inc), Mortgage Loan Servicing Purchase and Sale Agreement (Homeside International Inc)