Primary Mortgage Insurance Claims. The Servicer must take all steps to ensure the payment of the maximum benefits payable under the terms of any Primary Mortgage Insurance policy. The Servicer must work diligently with each Primary Mortgage Insurer to determine whether such insurer will settle the claim by taking title to the Mortgaged Property in question or in some other manner. Upon receipt of any Primary Mortgage Insurance proceeds, the Servicer must deposit such amounts in the appropriate Custodial P&I Account. The Servicer shall promptly notify the Master Servicer in writing if any Primary Mortgage Insurer at any time denies any or all of a claim filed under its Primary Mortgage Insurance policy.
Appears in 52 contracts
Samples: Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa4 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar13 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-9 Trust)