Administration of Funds

The ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must:

• administer and manage funds or collateral under all Collateral AgreementsCollateral AgreementsAgreement granting a security interest in Mortgage Loan collateral not covered by the Security Instrument. ; and
• ensure that any disbursements of funds, or other collateral releases or reductions, are:
  • approved only for valid reasons;
  • appropriately documented; and
  • consistent with the provisions of the Collateral AgreementCollateral AgreementAgreement granting a security interest in Mortgage Loan collateral not covered by the Security Instrument. and this Section.