Escrow Funds

Escrow Funds

For Custodial Accounts, Escrow Funds are any and all funds deposited by a Servicer on a Borrower's behalf (such as buydown funds) or any and all funds remitted by a Borrower to a Servicer, to be used by the Servicer to pay, with respect to a Mortgage in which Freddie Mac has an ownership interest, such expenses as property insurance premiums, mortgage insurance premiums, property taxes, ground rents, and assessments or other charges that, if delinquent, are or may become First Liens on the property or that if not paid would result in the subordination of Freddie Mac's interests (see Section 9301.6(e) regarding expenses that may become First Liens on the property).