Mortgage Loans without Escrow. If the Servicer is not required to collect Escrow Funds on a Mortgage Loan, the Servicer shall require proof of payment of all taxes, ground rents, assessments, insurance or other charges, or use other means commonly used in the mortgage industry to ascertain that such items are paid on a timely basis.
Appears in 77 contracts
Sources: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar5 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-3 Trust)