Curtailment Application. If a Curtailment is received on or after the Due Date, the Servicer may either (i) retroactively apply the Curtailment to the Scheduled Principal Balance of the related Mortgage Loan as of the Due Date, or (ii) to the extent permitted by law and the Mortgage Loan, apply such Curtailment at the end of the current period. The interest portion of the next installment due is then calculated based on the Unpaid Principal Balance of the related Mortgage Loan after application of the Curtailment.
Appears in 77 contracts
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-4 Trust.), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar14 Trust)
