Servicer Purchase of Certain Mortgage Loans. On and after the date upon which the Trust Balance of any HELOC has been reduced to zero (from payments from sources other than the Servicer or any Affiliate of the Servicer), the Servicer may purchase the related Mortgage Loan by depositing an amount equal to the then outstanding Additional Balance with respect to such Mortgage Loan into the Additional Certificate Account. After the deposit of such amount the Trustee shall release such Mortgage Loan and the related Mortgage File to or at the direction of the Servicer.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Home Equity Securitization Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp)
Servicer Purchase of Certain Mortgage Loans. On and after the date upon which the Trust Balance of any HELOC has been reduced to zero (from payments from sources other than the Servicer or any Affiliate of the Servicer)zero, the Servicer may purchase the related Mortgage Loan by depositing an amount equal to the then outstanding Additional Balance with respect to such Mortgage Loan into the Additional Certificate Account. After the deposit of such amount the Trustee shall release such Mortgage Loan and the related Mortgage File to or at the direction of the Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
