Custodial Account
Accounts established by the ServicerServicerPrimary Person responsible for servicing the Mortgage Loan (e.g., the originator, the selling Lender, or a third-party servicer). for depositing P&IP&IPrincipal and interest payments, T&IT&ITaxes or assessments that may become a Lien on the Property and insurance premiums. funds, Collateral AgreementCollateral AgreementAgreement under which collateral (other than the Property) may be pledged, transferred, or otherwise provided to secure the Borrower’s obligations under a Mortgage Loan. deposits, and other similar funds.
Synonyms
Custodial Accounts