Common use of Collection of Mortgage Loan Payments and Segregated Collection Account Clause in Contracts

Collection of Mortgage Loan Payments and Segregated Collection Account. (i) The following paragraph shall be added to Section 5.02: Mortgage Loan payments received by the Servicer will be deposited within one Business Day of receipt into a clearing account that is an Eligible Account. The Mortgage Loan payments may be commingled with payments of other mortgagors and investors for up to two Business Days prior to the Servicer depositing the Mortgage Loan payments in the 2012-2 Collection Account. Such clearing account shall not be used for operational or corporate purposes of the Servicer.

Collection of Mortgage Loan Payments and Segregated Collection Account. (i) The following paragraph shall be added to Section 5.02: Mortgage Loan payments received by the Servicer will be deposited within one Business Day of receipt into a clearing account that is an Eligible Account. The Mortgage Loan payments may be commingled with payments of other mortgagors and investors for up to two Business Days prior to the Servicer depositing the Mortgage Loan payments in the 20122011-2 1 Collection Account. Such clearing account shall not be used for operational or corporate purposes of the Servicer.

Collection of Mortgage Loan Payments and Segregated Collection Account. (i) The following paragraph shall be added to Section 5.02: Mortgage Loan payments received by the Servicer will be deposited within one Business Day of receipt into a clearing account that is an Eligible Account. The Mortgage Loan payments may be commingled with payments of other mortgagors and investors for up to two Business Days prior to the Servicer depositing the Mortgage Loan payments in the 2012-2 3 Collection Account. Such clearing account shall not be used for operational or corporate purposes of the Servicer.

Collection of Mortgage Loan Payments and Segregated Collection Account. (i) The following paragraph shall be added to Section 5.02: Mortgage Loan payments received by the Servicer will be deposited within one Business Day of receipt into a clearing account that is an Eligible Account. The Mortgage Loan payments may be commingled with payments of other mortgagors and investors for up to two Business Days prior to the Servicer depositing the Mortgage Loan payments in the 2012-2 1 Collection Account. Such clearing account shall not be used for operational or corporate purposes of the Servicer.

Collection of Mortgage Loan Payments and Segregated Collection Account. (i) The following paragraph shall be added to Section 5.02: Mortgage Loan payments received by the Servicer will be deposited within one Business Day of receipt into a clearing account that is an Eligible Account. The Mortgage Loan payments may be commingled with payments of other mortgagors and investors for up to two Business Days prior to the Servicer depositing the Mortgage Loan payments in the 20122013-2 1 Collection Account. Such clearing account shall not be used for operational or corporate purposes of the Servicer.