Custodial Funds Account definition

Custodial Funds Account means the separate trust account or accounts created and maintained pursuant to the FNMA Servicing Guide and which shall be entitled "Cendant Mortgage Corporation, in trust for Xxxxxxx Xxxxx Credit Corporation, Investor Number _________" or such other title as is requested by the Owner.
Custodial Funds Account is hereby amended to entitle such account as "Wells Fargo Bank Minnesota, National Association, in trust for xxx xegistered holders of Merrill Lynch Mortgage Investors Trust Series MLCC 2003-A Certixxxxxxx." Xxx following sentence is added to the end of such definition: "The Custodial Funds Account shall be an Eligible Account."
Custodial Funds Account means the separate trust account or accounts created and maintained pursuant to the FNMA Servicing Guide and which shall be entitled “Cendant Mortgage Corporation, in trust for Mxxxxxx Lxxxx Credit Corporation, Investor Number ___” or such other title as is requested by the Owner.

Examples of Custodial Funds Account in a sentence

  • If the proceeds from an REO Disposition are insufficient to reimburse the Company for any related unreimbursed Servicing Advances, the Company shall be entitled to withdraw any such deficiency from amounts on deposit in the applicable Custodial Funds Account.

  • As to each Mortgage Loan, the Servicing Fee shall be payable monthly from payments of interest on such Mortgage Loan prior to the deposit of such payments into the applicable Custodial Funds Account, shall accrue at the applicable Base Servicing Fee Rate, and shall be computed on the basis of the same principal amount and for the same period respecting which such interest payment was computed.

  • While this funding shift meant that Consumer Protection attorneys and investigators were not laid off, it depleted the Custodial Funds Account by the same amount.

  • Seller shall be entitled to retain all ancillary income with respect thereto, and all net interest earnings, on the related Custodial Funds Account and Related Escrow Funds Account balances for the preceding calendar month (such income and earnings, together with the Base MLCC Interim Servicing Fee, the “MLCC Interim Servicing Compensation”).

  • The Department requests one year of funding at $2,040,267 in total ARPA funds to be used to restore these General Fund losses—thereby allowing the Department to return the shifted funds to the Custodial Funds Account to aid harmed consumers consistent with court orders, while not creating additional stress on the State General Fund.


More Definitions of Custodial Funds Account

Custodial Funds Account means an account maintained by Seller for the deposit of principal and interest payments received in respect of one or more Mortgage Loans.

Related to Custodial Funds Account

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Note Account As defined in the Indenture.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Agent Account means such account of the Administrative Agent as is designated in writing from time to time by the Administrative Agent to the Borrower and the Lenders for such purpose.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.