Common use of Servicing Performance Clause in Contracts

Servicing Performance. Prior to the purchase date, the Mortgage has been properly serviced in accordance with all applicable FHLB Guidelines, all applicable laws, the terms of the Mortgage, mortgage note and related Mortgage Documents. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of the PFI and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with all applicable laws. An escrow of funds has been established in an amount sufficient to pay for every item which remains unpaid and which has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the PFI have been capitalized under the Mortgage or the mortgage note included in the Mortgage.

Servicing Performance. Prior to the purchase date, the Mortgage has been properly serviced in accordance with all applicable FHLB FHLBI Guidelines, all applicable lawsthe Guide, the terms of the Mortgage, mortgage note Mortgage note, and related Mortgage Documents. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of the PFI Seller and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with all applicable laws. An escrow of funds has been established in an amount sufficient to pay for every item which remains unpaid and which has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the PFI Seller have been capitalized under the Mortgage or the mortgage Mortgage note included in the Mortgage.