Final Recovery Determination Clause Samples
The Final Recovery Determination clause establishes the process and criteria for making a conclusive decision regarding the amount of funds or assets that can be recovered following a loss or claim. Typically, this clause outlines the steps for evaluating recovery efforts, such as insurance payouts or third-party reimbursements, and specifies when a recovery is considered final and no further action will be taken. Its core practical function is to provide certainty and closure for all parties by clearly defining when the recovery process is complete, thereby preventing ongoing disputes or uncertainty about potential future recoveries.
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Final Recovery Determination. 16 FNMA ........................................................... 16
Final Recovery Determination. 14 Fitch ......................................................................................14
Final Recovery Determination. With respect to any defaulted Mortgage Loan or any REO Property (other than a Mortgage Loan or REO Property purchased by Servicer pursuant to this Agreement), a determination made by Servicer that all Insurance Proceeds, Liquidation Proceeds and other payments or recoveries which Servicer, in its reasonable good faith judgment, expects to be finally recoverable in respect thereof have been so recovered. Servicer shall maintain records, prepared by a servicing officer of Servicing, of each Final Recovery Determination.
Final Recovery Determination. 15- Freddie Mac.........................................................................-15- Gross Margin........................................................................-16- Independent.........................................................................-16- Index ...........................................................................-16-
Final Recovery Determination. 14- First Union..................................................-14- First Union Custodial Agreement..............................-14- -iii-
Final Recovery Determination. 9 FNMA......................................................................... 9 Foreclosure Profits"......................................................... 9
Final Recovery Determination. 19- Fitch ...................................................-20- ▇▇▇▇▇▇▇ Mac.................................................-20- Gross Margin................................................-20- Group I Interest Remittance Amount..........................-20- Group I Mortgage Loans......................................-20- Group I Principal Distribution Amount.......................-20- Group I Principal Remittance Amount.........................-20- Group II Interest Remittance Amount........................-20- Group II Mortgage Loans.....................................-21- Group II Principal Distribution Amount......................-21- Group II Principal Remittance Amount........................-21- Independent.................................................-21- Independent Contractor......................................-21- Index ...................................................-22- Institutional Accredited Investor...........................-22- Insurance Proceeds..........................................-22-
Final Recovery Determination. 18- Fitch ...........................................-18- ▇▇▇▇▇▇▇ Mac......................................-18- Gross Margin.....................................-19- Group I Interest Remittance Amount..............-19- Group I Mortgage Loans...........................-19- Group I Principal Distribution Amount............-19- Group I Principal Remittance Amount..............-19- Group II Interest Remittance Amount.............-19- Group II Mortgage Loans..........................-19- Group II Principal Distribution Amount...........-19- Group II Principal Remittance Amount.............-20- Independent......................................-20- Independent Contractor...........................-20- Index ...........................................-21- Insurance Proceeds...............................-21- Interest Accrual Period..........................-21- Interest Carry Forward Amount....................-21- Interest Determination Date......................-21- Interest Distribution Amount.....................-21- Interest Remittance Amount.......................-21- Late Collections.................................-21- Last Scheduled Distribution Date.................-22-
Final Recovery Determination. 14- SECTION PAGE ------- ----
Final Recovery Determination. 18- Fitch ...........................................................................-19- Freddie Mac.........................................................................-19-