Common use of Collection of Certain Mortgage Loan Payments; Remittances Clause in Contracts

Collection of Certain Mortgage Loan Payments; Remittances. (a) Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows with respect to home equity loans in its servicing portfolio comparable to the Mortgage Loans. Consistent with the foregoing, and without limiting the generality of the foregoing, the Servicer may in its discretion (i) waive any late payment charge or any assumption fees or other fees which may be collected in the ordinary course of servicing such Mortgage Loans and (ii) arrange with a Mortgagor a schedule for the payment of interest due and unpaid; provided that such arrangement is consistent with prudent and customary business practice for enhancing recoveries with respect to the mortgage loans it owns or services; provided, further, that notwithstanding such arrangement such Mortgage Loans will be included in the information regarding delinquent Mortgage Loans set forth in the Servicing Certificate and monthly statement to Noteholders pursuant to Section 4.01. (b) The Sponsor shall cause to be established, and the Servicer shall maintain, a Collection Account to be held by the Servicer in the name of the Trust for the benefit of the Noteholders, the Indenture Trustee and the Insurer, as their interests may appear. Each account shall be an Eligible Account. With respect to each Servicer Remittance Date, the Servicer shall invest funds in the Collection Account in Eligible Investments that shall mature not later than the related Servicer Remittance Date and such Eligible Investments shall not be sold or disposed of prior to its maturity. All income and gain realized from any investment in Eligible Investments of funds in the Collection Account shall be for the benefit of the Servicer as compensation and the Servicer shall be permitted from time to time to withdraw such amounts from the Collection Account. The amount of any losses incurred in respect of the principal amount of any such investments shall be deposited in the Collection Account by the Servicer out of its own funds immediately as realized. (c) The Servicer, or the Sponsor, as the case may be, shall deposit into the Collection Account within one Business Day following receipt thereof the following payments and collections received or made by it (without duplication): (i) all collections on and in respect of the Mortgage Loans; (ii) the amounts, if any, deposited to the Collection Account pursuant to Section 3.04; (iii) Net Liquidation Proceeds; (iv) Insurance Proceeds (including, for this purpose, any amount required to be credited by the Servicer pursuant to the last sentence of Section 3.04 and excluding the portion thereof, if any, that has been applied to the restoration or repair of the related Mortgaged Property or released to the related Mortgagor in accordance with the normal servicing procedures of the Servicer); (v) any amounts required to be deposited therein pursuant to Section 7.01; (vi) any amounts drawn under the Policy pursuant to Section 8.4(f) of the Indenture, but only to be used for the payment of the items specified in Sections 8.7(b)(v)(A) and (vii) of the Indenture, as applicable; and (vii) the amounts, if any, required to be deposited therein by the related Seller pursuant to Section 2.06(c) hereof; provided, however, that with respect to each Collection Period, the Servicer shall be permitted to retain from payments in respect of interest on the Mortgage Loans, the Servicing Fee for such Collection Period. The foregoing requirements respecting deposits to the Collection Account are exclusive, it being understood that, without limiting the generality of the foregoing, the Servicer need not deposit in the Collection Account amounts representing Foreclosure Profits, fees (including annual fees) or late charge penalties payable by Mortgagors, or amounts received by the Servicer for the accounts of Mortgagors for application towards the payment of taxes, insurance premiums, assessments, excess pay off amounts and similar items. The Servicer shall remit all Foreclosure Profits to the Sponsor. (d) The Servicer shall on the Closing Date deposit into the Distribution Account any amounts representing payments on, and any collections in respect of, the Mortgage Loans received after the Cut-Off Date and prior to the Closing Date (exclusive of payments in respect of interest due or accrued on or prior to the Cut-Off Date). On each Servicer Remittance Date, the Servicer shall withdraw all funds then held in the Collection Account (other than amounts the Servicer is entitled to retain pursuant to this Section 3.02) and deposit such funds in the Distribution Account. The Indenture Trustee shall hold such funds uninvested. The Servicer shall notify the Indenture Trustee and the Insurer in writing on each Determination Date of the amount of payments and collections in the Collection Account allocable to Interest Collections and Principal Collections for the related Payment Date. (e) The Servicer shall remit all payments in respect of interest due or accrued on or prior to the Cut-Off Date, if any, to Terwin Advisors immediately upon receipt of such amounts.

Collection of Certain Mortgage Loan Payments; Remittances. (a) Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows with respect to home equity loans in its servicing portfolio comparable to the Mortgage Loans. Consistent with the foregoing, and without limiting the generality of the foregoing, the Servicer may in its discretion (i) waive any late payment charge or any assumption fees or other fees which may be collected in the ordinary course of servicing such Mortgage Loans and (ii) arrange with a Mortgagor a schedule for the payment of interest due and unpaid; provided that such arrangement is consistent with prudent and customary business practice for enhancing recoveries with respect to the mortgage loans it owns or services; provided, further, that notwithstanding such arrangement such Mortgage Loans will be included in the information regarding delinquent Mortgage Loans set forth in the Servicing Certificate and monthly statement to Noteholders pursuant to Section 4.01. (b) The Sponsor shall cause to be established, and the Servicer shall maintain, a Collection Account to be held by the Servicer in the name of the Trust for the benefit of the Noteholders, the Indenture Trustee and the Insurer, as their interests may appear. Each account shall be an Eligible Account. With respect to each Servicer Remittance Date, the Servicer shall invest funds in the Collection Account in Eligible Investments that shall mature not later than the related Servicer Remittance Date and such Eligible Investments shall not be sold or disposed of prior to its maturity. All income and gain realized from any investment in Eligible Investments of funds in the Collection Account shall be for the benefit of the Servicer as compensation and the Servicer shall be permitted from time to time to withdraw such amounts from the Collection Account. The amount of any losses incurred in respect of the principal amount of any such investments shall be deposited in the Collection Account by the Servicer out of its own funds immediately as realized. (c) The Servicer, or the Sponsor, as the case may be, shall deposit into the Collection Account within one Business Day following receipt thereof the following payments and collections received or made by it (without duplication): (i) all collections on and in respect of the Mortgage Loans; (ii) the amounts, if any, deposited to the Collection Account pursuant to Section 3.04; (iii) Net Liquidation Proceeds; (iv) Insurance Proceeds (including, for this purpose, any amount required to be credited by the Servicer pursuant to the last sentence of Section 3.04 and excluding the portion thereof, if any, that has been applied to the restoration or repair of the related Mortgaged Property or released to the related Mortgagor in accordance with the normal servicing procedures of the Servicer); (v) any amounts required to be deposited therein pursuant to Section 7.01; (vi) any amounts drawn under the Policy pursuant to Section 8.4(f) of the Indenture, but only to be used for the payment of the items specified in Sections 8.7(b)(v)(A8.7(b)(iv) and (viivi) of the Indenture, as applicable; and (vii) the amounts, if any, required to be deposited therein by the related Seller Originator pursuant to Section 2.06(c2.05(b) hereof; provided, however, that with respect to each Collection Period, the Servicer shall be permitted to retain from payments in respect of interest on the Mortgage Loans, the Servicing Fee for such Collection Period. The foregoing requirements respecting deposits to the Collection Account are exclusive, it being understood that, without limiting the generality of the foregoing, the Servicer need not deposit in the Collection Account amounts representing Foreclosure Profits, fees (including annual fees) or late charge penalties payable by Mortgagors, or amounts received by the Servicer for the accounts of Mortgagors for application towards the payment of taxes, insurance premiums, assessments, excess pay off amounts and similar items. The Servicer shall remit all Foreclosure Profits to the Sponsor. (d) The Servicer shall on the Closing Date deposit into the Distribution Account any amounts representing payments on, and any collections in respect of, the Mortgage Loans received after the Cut-Off Date and prior to the Closing Date (exclusive of payments in respect of accrued interest due or accrued on or prior to the such Cut-Off Date). On each Servicer Remittance Date, the Servicer shall withdraw all funds then held in the Collection Account (other than amounts the Servicer is entitled to retain pursuant to this Section 3.02) and deposit such funds in the Distribution Account. The Indenture Trustee shall hold such funds uninvested. The Servicer shall notify the Indenture Trustee and the Insurer in writing on each Determination Date of the amount of payments and collections in the Collection Account allocable to Interest Collections and Principal Collections for the related Payment Date. (e) The Servicer shall remit all payments in respect of interest due or accrued on or prior to the Cut-Off Date, if any, to Terwin Advisors immediately upon receipt of such amounts.

Collection of Certain Mortgage Loan Payments; Remittances. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows with respect to home equity loans in its servicing portfolio comparable to the Mortgage Loans. Consistent with the foregoing, and without limiting the generality of the foregoing, the Servicer may in its discretion (i) waive any late payment charge or any assumption fees or other fees which may be collected in the ordinary course of servicing such Mortgage Loans and (ii) arrange with a Mortgagor a schedule for the payment of interest due and unpaid; provided that such arrangement is consistent with prudent and customary business practice for enhancing recoveries collection procedures followed by the Servicer with respect to home equity loans in its servicing portfolio comparable to the mortgage loans it owns or servicesMortgage Loans; provided, further, that notwithstanding such arrangement such Mortgage Loans will be included in the information regarding delinquent Mortgage Loans set forth in the Servicing Certificate and monthly statement to Noteholders pursuant to Section 4.01. (b) The Sponsor shall cause to be establishedOn the Closing Date, and the Servicer shall maintain, open and shall thereafter maintain a Collection Account to be segregated account held by the Servicer in trust in the name of the Trust Securities Intermediary (the "Collection Account"), entitled "[______________], as indenture trustee, in trust for the benefit Holders of the Noteholders[_____________], Asset-Backed Notes, Series [____]." The Collection Account shall relate solely to the Indenture Trustee Securities issued by the Issuing Entity, and the Insurer, as their interests may appear. Each account funds in such Collection Account shall not be commingled with any other monies. (c) The Collection Account shall be an Eligible Account. With respect If an existing Collection Account ceases to be an Eligible Account, the Servicer shall establish a new Collection Account that is an Eligible Account within 10 days and transfer all funds and investment property on deposit in such existing Collection Account into such new Collection Account. (d) The Servicer shall give to the Indenture Trustee prior written notice of the name and address of the depository institution at which the Collection Account is maintained and the account number of such Collection Account. The Servicer shall take such actions as are necessary to cause the depository institution holding the Collection Account to hold such account in the name of the Indenture Trustee in trust for the Noteholders under this Agreement. On each Servicer Remittance Date, the Servicer shall invest funds entire amount on deposit in the Collection Account relating to the Mortgage Loans (subject to permitted withdrawals set forth in Eligible Investments that shall mature Section 4.03), other than amounts not later than included in the related Servicer Remittance Date and Amount for such Eligible Investments shall not be sold or disposed of prior to its maturity. All income and gain realized from any investment in Eligible Investments of funds in the Collection Account Payment Date, shall be remitted to the Indenture Trustee for deposit into the benefit of the Servicer as compensation and the Servicer shall be permitted from time to time to withdraw such amounts from the Collection Account. The amount of any losses incurred in respect of the principal amount of any such investments shall be deposited in the Collection Payment Account by the Servicer out of its own funds wire transfer in immediately as realizedavailable funds. (ce) The Servicer, or the Sponsor, as the case may be, Servicer shall deposit into the Collection Account within one two Business Day Days following receipt thereof the following payments and collections received or made by it (without duplication): (i) all collections on and in respect of the Mortgage Loans; (ii) the amounts, if any, deposited to the Collection Account pursuant to Section 3.044.04; (iii) Net Liquidation Proceeds; (iv) Insurance Proceeds (including, for this purpose, any amount required to be credited by the Servicer pursuant to the last sentence of Section 3.04 and excluding the portion thereof, if any, that has been applied to the restoration or repair of the related Mortgaged Property or released to the related Mortgagor in accordance with the normal servicing procedures of the Servicer); (v) any amounts required to be deposited therein pursuant to Section 7.01; (vi) the Loan Purchase Price of any amounts drawn under Mortgage Loan repurchased by the Policy Originator and any Substitution Amount relating to any Qualifying Substitute Mortgage Loan pursuant to Section 8.4(f) of the Indenture, but only to be used for the payment of the items specified in Sections 8.7(b)(v)(A) and (vii) of the Indenture, as applicable; and (vii) the amounts, if any, required to be deposited therein by the related Seller pursuant to Section 2.06(c) 3.04 hereof; provided, however, that with respect to each Collection Period, the Servicer shall be permitted to retain from payments in respect of interest on the Mortgage Loans, the Servicing Fee for such Collection Period. The foregoing requirements respecting deposits to for deposit in the Collection Account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicer need not deposit payments of interest on funds in the Collection Account amounts representing Foreclosure Profitsand payments in the nature of late payment charges, assumption fees (including annual fees) or late charge penalties payable by Mortgagors, or amounts received and other incidental fees and charges relating to the Mortgage Loans need not be deposited by the Servicer for the accounts of Mortgagors for application towards the payment of taxes, insurance premiums, assessments, excess pay off amounts and similar items. The Servicer shall remit all Foreclosure Profits to the Sponsor. (d) The Servicer shall on the Closing Date deposit into the Distribution Account any amounts representing payments on, and any collections in respect of, the Mortgage Loans received after the Cut-Off Date and prior to the Closing Date (exclusive of payments in respect of interest due or accrued on or prior to the Cut-Off Date). On each Servicer Remittance Date, the Servicer shall withdraw all funds then held in the Collection Account (other than amounts and may be retained by the Servicer is entitled to retain pursuant to this Section 3.02) and deposit such funds or the applicable Servicer as additional servicing compensation. If the Servicer deposits in the Distribution Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Collection Account. (f) Funds in the Collection Account may be invested in Eligible Investments selected by and at the written direction of the Servicer, which shall mature not later than one Business Day prior to the next Deposit Date and any such Eligible Investment shall not be sold or disposed of prior to its maturity. The Indenture Trustee All such Eligible Investments shall hold such funds uninvested. The be made in the name of the Servicer shall notify in trust for the benefit of the Indenture Trustee and the Insurer in writing on each Determination Date Securityholders. All income and gain realized from any Eligible Investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time, subject to Section 6.01, and shall not be part of the Trust Estate. The amount of payments and collections in the Collection Account allocable to Interest Collections and Principal Collections for the related Payment Date. (e) The Servicer shall remit all payments any losses incurred in respect of interest due or accrued on or prior to any such investments shall be deposited in such Collection Account by the Cut-Off DateServicer out of its own funds, if anywithout any right of reimbursement therefor, to Terwin Advisors immediately upon receipt of such amountsas realized.

Collection of Certain Mortgage Loan Payments; Remittances. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows with respect to home equity loans in its servicing portfolio comparable to the Mortgage Loans. Consistent with the foregoing, and without limiting the generality of the foregoing, the Servicer may in its discretion (i) waive any late payment charge or any assumption fees or other fees which may be collected in the ordinary course of servicing such Mortgage Loans and (ii) arrange with a Mortgagor a schedule for the payment of interest due and unpaid; provided that such arrangement is consistent with prudent and customary business practice for enhancing recoveries collection procedures followed by the Servicer with respect to home equity loans in its servicing portfolio comparable to the mortgage loans it owns or servicesMortgage Loans; provided, further, that notwithstanding such arrangement such Mortgage Loans will be included in the information regarding delinquent Mortgage Loans set forth in the Servicing Certificate and monthly statement to Noteholders pursuant to Section 4.01. (b) The Sponsor shall cause to be establishedOn the Closing Date, and the Servicer shall maintain, open and shall thereafter maintain a Collection Account to be segregated account held by the Servicer in trust in the name of the Securities Intermediary (the “Collection Account”), entitled “Collection Account, Deutsche Bank National Trust Company, as indenture trustee, in trust for the benefit Holders of the NoteholdersGreenPoint Mortgage Funding Trust 2005-HE4, Asset-Backed Notes, Series 2005-HE4.” The Collection Account shall relate solely to the Indenture Trustee Securities issued by the Issuer, and the Insurer, as their interests may appear. Each account funds in such Collection Account shall not be commingled with any other monies. (c) The Collection Account shall be an Eligible Account. With respect If an existing Collection Account ceases to be an Eligible Account, the Servicer shall establish a new Collection Account that is an Eligible Account within 10 days and transfer all funds and investment property on deposit in such existing Collection Account into such new Collection Account. (d) The Servicer shall give to the Indenture Trustee prior written notice of the name and address of the depository institution at which the Collection Account is maintained and the account number of such Collection Account. The Servicer shall take such actions as are necessary to cause the depository institution holding the Collection Account to hold such account in the name of the Indenture Trustee in trust for the Noteholders under this Agreement. On each Servicer Remittance Date, the Servicer shall invest funds entire amount on deposit in the Collection Account relating to the Mortgage Loans (subject to permitted withdrawals set forth in Eligible Investments that shall mature Section 4.03), other than amounts not later than included in the related Servicer Remittance Date and Amount for such Eligible Investments shall not be sold or disposed of prior to its maturity. All income and gain realized from any investment in Eligible Investments of funds in the Collection Account Payment Date, shall be remitted to the Indenture Trustee for deposit into the benefit of the Servicer as compensation and the Servicer shall be permitted from time to time to withdraw such amounts from the Collection Account. The amount of any losses incurred in respect of the principal amount of any such investments shall be deposited in the Collection Payment Account by the Servicer out of its own funds wire transfer in immediately as realizedavailable funds. (ce) The Servicer, or the Sponsor, as the case may be, Servicer shall deposit into the Collection Account within one two Business Day Days following receipt thereof the following payments and collections received or made by it (without duplication): (i) all collections on and in respect of the Mortgage Loans; (ii) the amounts, if any, deposited to the Collection Account pursuant to Section 3.044.04; (iii) Net Liquidation Proceeds; (iv) Insurance Proceeds (including, for this purpose, any amount required to be credited by the Servicer pursuant to the last sentence of Section 3.04 and excluding the portion thereof, if any, that has been applied to the restoration or repair of the related Mortgaged Property or released to the related Mortgagor in accordance with the normal servicing procedures of the Servicer); (v) any amounts required to be deposited therein pursuant to Section 7.01; (vi) the Loan Purchase Price of any amounts drawn under Mortgage Loan repurchased by the Policy Originator and any Substitution Amount relating to any Qualifying Substitute Mortgage Loan pursuant to Section 8.4(f) of the Indenture, but only to be used for the payment of the items specified in Sections 8.7(b)(v)(A) and (vii) of the Indenture, as applicable; and (vii) the amounts, if any, required to be deposited therein by the related Seller pursuant to Section 2.06(c) 3.04 hereof; provided, however, that with respect to each Collection Period, the Servicer shall be permitted to retain from payments in respect of interest on the Mortgage Loans, the Servicing Fee for such Collection Period. The foregoing requirements respecting deposits to for deposit in the Collection Account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicer need not deposit payments of interest on funds in the Collection Account amounts representing Foreclosure Profitsand payments in the nature of late payment charges, assumption fees (including annual fees) or late charge penalties payable by Mortgagors, or amounts received and other incidental fees and charges relating to the Mortgage Loans need not be deposited by the Servicer for the accounts of Mortgagors for application towards the payment of taxes, insurance premiums, assessments, excess pay off amounts and similar items. The Servicer shall remit all Foreclosure Profits to the Sponsor. (d) The Servicer shall on the Closing Date deposit into the Distribution Account any amounts representing payments on, and any collections in respect of, the Mortgage Loans received after the Cut-Off Date and prior to the Closing Date (exclusive of payments in respect of interest due or accrued on or prior to the Cut-Off Date). On each Servicer Remittance Date, the Servicer shall withdraw all funds then held in the Collection Account (other than amounts and may be retained by the Servicer is entitled to retain pursuant to this Section 3.02) and deposit such funds or the applicable Servicer as additional servicing compensation. If the Servicer deposits in the Distribution Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Collection Account. (f) Funds in the Collection Account may be invested in Eligible Investments selected by and at the written direction of the Servicer, which shall mature not later than one Business Day prior to the next Deposit Date and any such Eligible Investment shall not be sold or disposed of prior to its maturity. The Indenture Trustee All such Eligible Investments shall hold such funds uninvested. The be made in the name of the Servicer shall notify in trust for the benefit of the Indenture Trustee and the Insurer in writing on each Determination Date Securityholders. All income and gain realized from any Eligible Investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time, subject to Section 6.01, and shall not be part of the Trust Estate. The amount of payments and collections in the Collection Account allocable to Interest Collections and Principal Collections for the related Payment Date. (e) The Servicer shall remit all payments any losses incurred in respect of interest due or accrued on or prior to any such investments shall be deposited in such Collection Account by the Cut-Off DateServicer out of its own funds, if anywithout any right of reimbursement therefor, to Terwin Advisors immediately upon receipt of such amountsas realized.

Collection of Certain Mortgage Loan Payments; Remittances. (a) The Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement, follow such collection procedures as it follows with respect to home equity loans in its servicing portfolio comparable to the Mortgage Loans. Consistent with the foregoing, and without limiting the generality of the foregoing, the Servicer may in its discretion its (i) waive any late payment charge or any assumption fees or other fees which may be collected in the ordinary course of servicing such Mortgage Loans and (ii) arrange with a Mortgagor a schedule for the payment of interest due and unpaid; provided PROVIDED that such arrangement is consistent with prudent and customary business practice for enhancing recoveries with respect to the mortgage loans it owns or services; providedPROVIDED, furtherFURTHER, that notwithstanding such arrangement such Mortgage Loans will be included in the information regarding delinquent Mortgage Loans set forth in the Servicing Certificate and monthly statement to Noteholders pursuant to Section 4.01. (b) The Sponsor shall cause to be establishedOn the Closing Date, and the Servicer shall maintain, open and shall thereafter maintain a Collection Account to be segregated account held by the Servicer in trust in the name of the Securities Intermediary (the "Collection Account"), entitled "Collection Account, Deutsche Bank National Trust Company, as indenture trustee, in trust for the benefit Holders of the NoteholdersGreenPoint Mortgage Funding Trust 2005-HE1, Asset-Backed Notes, Series 2005-HE1." The Collection Account shall relate solely to the Indenture Trustee Securities issued by the Issuer, and the Insurer, as their interests may appear. Each account funds in such Collection Account shall not be commingled with any other monies. (c) The Collection Account shall be an Eligible Account. With respect If an existing Collection Account ceases to be an Eligible Account, the Servicer shall establish a new Collection Account that is an Eligible Account within 10 days and transfer all funds and investment property on deposit in such existing Collection Account into such new Collection Account. (d) The Servicer shall give to the Indenture Trustee prior written notice of the name and address of the depository institution at which the Collection Account is maintained and the account number of such Collection Account. The Servicer shall take such actions as are necessary to cause the depository institution holding the Collection Account to hold such account in the name of the Indenture Trustee in trust for the Noteholders under this Agreement. On each Servicer Remittance Date, the Servicer shall invest funds entire amount on deposit in the Collection Account relating to the Mortgage Loans (subject to permitted withdrawals set forth in Eligible Investments that shall mature Section 4.03), other than amounts not later than included in the related Servicer Remittance Date and Amount for such Eligible Investments shall not be sold or disposed of prior to its maturity. All income and gain realized from any investment in Eligible Investments of funds in the Collection Account Payment Date, shall be remitted to the Indenture Trustee for deposit into the benefit of the Servicer as compensation and the Servicer shall be permitted from time to time to withdraw such amounts from the Collection Account. The amount of any losses incurred in respect of the principal amount of any such investments shall be deposited in the Collection Payment Account by the Servicer out of its own funds wire transfer in immediately as realizedavailable funds. (ce) The Servicer, or the Sponsor, as the case may be, Servicer shall deposit into the Collection Account within one Business Day following receipt thereof the following payments and collections received or made by it (without duplication): (i) all collections on and in respect of the Mortgage Loans; (ii) the amounts, if any, deposited to the Collection Account pursuant to Section 3.044.04; (iii) Net Liquidation Proceeds; (iv) Insurance Proceeds (including, for this purpose, any amount required to be credited by the Servicer pursuant to the last sentence of Section 3.04 and excluding the portion thereof, if any, that has been applied to the restoration or repair of the related Mortgaged Property or released to the related Mortgagor in accordance with the normal servicing procedures of the Servicer); (v) any amounts required to be deposited therein pursuant to Section 7.01; (vi) the Loan Purchase Price of any amounts drawn under Mortgage Loan repurchased by the Policy Originator and any Substitution Amount relating to any Qualifying Substitute Mortgage Loan pursuant to Section 8.4(f) of the Indenture, but only to be used for the payment of the items specified in Sections 8.7(b)(v)(A) and (vii) of the Indenture, as applicable; and (vii) the amounts, if any, required to be deposited therein by the related Seller pursuant to Section 2.06(c) 3.04 hereof; providedPROVIDED, howeverHOWEVER, that with respect to each Collection Period, the Servicer shall be permitted to retain from payments in respect of interest on the Mortgage Loans, the Servicing Fee for such Collection Period. The foregoing requirements respecting deposits to for deposit in the Collection Account are exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicer need not deposit payments of interest on funds in the Collection Account amounts representing Foreclosure Profitsand payments in the nature of late payment charges, assumption fees (including annual fees) or late charge penalties payable by Mortgagors, or amounts received and other incidental fees and charges relating to the Mortgage Loans need not be deposited by the Servicer for the accounts of Mortgagors for application towards the payment of taxes, insurance premiums, assessments, excess pay off amounts and similar items. The Servicer shall remit all Foreclosure Profits to the Sponsor. (d) The Servicer shall on the Closing Date deposit into the Distribution Account any amounts representing payments on, and any collections in respect of, the Mortgage Loans received after the Cut-Off Date and prior to the Closing Date (exclusive of payments in respect of interest due or accrued on or prior to the Cut-Off Date). On each Servicer Remittance Date, the Servicer shall withdraw all funds then held in the Collection Account (other than amounts and may be retained by the Servicer is entitled to retain pursuant to this Section 3.02) and deposit such funds or the applicable Servicer as additional servicing compensation. If the Servicer deposits in the Distribution Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from such Collection Account. (f) Funds in the Collection Account may be invested in Eligible Investments selected by and at the written direction of the Servicer, which shall mature not later than one Business Day prior to the next Deposit Date and any such Eligible Investment shall not be sold or disposed of prior to its maturity. The Indenture Trustee All such Eligible Investments shall hold such funds uninvested. The be made in the name of the Servicer shall notify in trust for the benefit of the Indenture Trustee and the Insurer in writing on each Determination Date Securityholders. All income and gain realized from any Eligible Investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time, subject to Section 6.01, and shall not be part of the Trust Estate. The amount of payments and collections in the Collection Account allocable to Interest Collections and Principal Collections for the related Payment Date. (e) The Servicer shall remit all payments any losses incurred in respect of interest due or accrued on or prior to any such investments shall be deposited in such Collection Account by the Cut-Off DateServicer out of its own funds, if anywithout any right of reimbursement therefor, to Terwin Advisors immediately upon receipt of such amountsas realized.