Using Checks

Checks that transfer funds from a Custodial AccountCustodial AccountAccounts established by the Servicer for depositing P&I payments, T&I funds, Collateral Agreement deposits, and other similar funds. (other than a P&I Custodial AccountP&I Custodial AccountCustodial Account for principal and interest deposits.) to a disbursement Clearing AccountClearing AccountLender account at an Eligible Depository used either for receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial Accounts held solely for the benefit of Fannie Mae, or disbursing funds after transfer… must be deposited to the disbursement Clearing AccountClearing AccountLender account at an Eligible Depository used either for receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial Accounts held solely for the benefit of Fannie Mae, or disbursing funds after transfer… concurrent with, or prior to, the issuance of any check drawn on the Clearing AccountClearing AccountLender account at an Eligible Depository used either for receiving funds for various loans and for the benefit of multiple investors, and from which segregated funds are transferred to specific Custodial Accounts held solely for the benefit of Fannie Mae, or disbursing funds after transfer….