Common use of Preparation of Forms 1098 and 1099 Clause in Contracts

Preparation of Forms 1098 and 1099. With respect to each Mortgage Loan Package, the Seller shall prepare and distribute to each Mortgagor, in the name of the Seller, forms required by applicable law relating to interest paid by the Mortgagors on the related Mortgage Loans and, to the extent that monies are paid to the Mortgagors in respect of escrow accounts, forms relating to interest paid to the Mortgagors, with respect to periods prior to and including the related Servicing Transfer Date. The Purchaser or its designee shall prepare and distribute to each Mortgagor in the name of the Purchaser forms relating to interest paid by or to such Mortgagors on the related Mortgage Loan with respect to periods after the related Servicing Transfer Date.