Custodial Account Separateness. (a) At least one custodial account for principal and interest (i.e., a Custodial P&I Account), one custodial account for taxes and insurance (i.e., a Custodial T&I Account), one custodial account for Subsidy Funds, if applicable (i.e., a Custodial Subsidy Account), one custodial account for PITI Funds, if applicable (i.e., a Custodial PITI Account) and one custodial account for Buydown Funds, if applicable (i.e., a Custodial Buydown Account), shall be established and maintained for the Mortgage Loans. Except as specified in 6.1.2(b), without the written consent of the Master Servicer, funds in these accounts may not be commingled with other funds held by the Servicer. Each Custodial P&I Account shall be established as an Eligible Account ("Eligible Custodial P&I Account").
Appears in 18 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008 -1 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-Ar10 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-16 Trust)
