Investor Accounting Clause Samples
The Investor Accounting clause outlines the procedures and responsibilities related to tracking and reporting financial transactions and holdings for investors. It typically specifies how investment records are maintained, how income and expenses are allocated, and the frequency and format of account statements provided to investors. By establishing clear guidelines for financial reporting and record-keeping, this clause ensures transparency and accuracy in investor communications, helping to prevent disputes and maintain trust between parties.
Investor Accounting. In full compliance with the Guide, Subservicer shall:
(a) Make interest rate adjustments in compliance with applicable regulatory adjustable loan requirements and the Note, which reflect the applicable movements of the applicable loan rate index. Applicable interest rate adjustments shall be implemented in accordance with applicable adjustable loan regulations and the Note. Subservicer shall execute and deliver all appropriate notices required by applicable adjustable loan regulations and the Note regarding such interest rate adjustments including but not by way of limitation, timely notification to Investor or to Investor's successors or assigns, of applicable date and information regarding such interest rate adjustment, and methods of implementation of such interest rate adjustments, new schedules of Investor's pro rata share of collections of principal and interest, and of all prepayments of any Loan hereunder by Borrower or Mortgagor.
(b) Perform such other duties, furnish such other reports and execute such other documents in connection with its duties hereunder as Lender/Servicer and Investor from time to time may require consistent with requirements performed by other servicers of loans in accordance with the Guide.
(c) Not accept any prepayment of any Loan except as specified by law or as authorized by law and permitted by the terms of the Loan Documents, nor waive, modify, release or consent to postponement on the part of the Borrower or Mortgagor of any term or provision of the Loan Documents without the written consent of Investor; notwithstanding the foregoing, however, Subservicer shall not be required to obtain written consent for the waiver of any late charge or the waiver, modification, release or consent postponement of any term or provision which may be waived, modified, released or consented to without the consent of the Investor under the terms of its written instructions ("Investors Instructions") or under the Guide.
(d) Upon payment of a Loan in full, have prepared and file any necessary release or satisfaction documents, and shall continue subservicing of the Loan pending final settlement, and refund any Escrowed Sums within state mandated time frames or pay penalties associated with failure to so comply unless such failure results from Lender/Servicer's or Investor's delay.
(e) Where Investors require interest paid through the end of the month although interest due from the Borrower is to the actual date of the payoff, advance its o...
Investor Accounting. (i) Account for Fund capital calls, distributions and fees and expenses on a timely basis in accordance with the Governing Documents, as further instructed by an Operational Contact.
(ii) Prepare economic allocations among the members in accordance with the allocation methodology identified in the Governing Documents, as further instructed by an Operational Contact.
(iii) Monitor and allocate “new issue” income among the members in accordance with the applicable Financial Industry Regulatory Authority rules.
(iv) Calculate the investor’s capital account, net earnings, and other amounts reflective of Fund operations on a quarterly basis.
(v) Communicate, at an agreed upon time, the investor’s capital account value for each valuation date to parties as agreed upon from time to time.
(vi) Receive and respond to investor account inquiries as reasonably requested by the Fund and/or Manager (excluding questions regarding performance estimates) on a timely basis.
Investor Accounting. Servicer shall:
a) Make interest rate adjustments on ARM Loans in accordance with applicable rate index, adjustable loan regulations and the Note. Servicer shall execute and deliver all appropriate notices required by applicable adjustable loan regulations and the Note regarding such interest rate adjustments including but not limited to, timely notification to Investor of effective change dates, new interest rate and new principal and interest payment.
b) Not accept any prepayment of any Loan except as specified by insurer/guarantor, law or as permitted by the terms of the Loan Documents. Not waive, modify, release or consent to postponement on the part of the borrower of any term or provision of the Loan Documents without the written consent of Investor. Notwithstanding the foregoing, Servicer shall not be required to obtain written consent for the waiver of any late charge or the waiver, modification, release or consent postponement of any term or provision which may be waived, modified, released or consented to without the consent of the Investor under the terms of its written instruction or pursuant to servicing best practices.
c) Upon payment of a Loan in full, prepare and file any required release or satisfaction documents, and continue subservicing the Loan pending final settlement.
d) Remit to the Investor all principal and interest collected from borrowers less compensation, Loan related costs and advances due Servicer by the fifteenth (15) business day of the following month. All payments are collected on a calendar month cycle, Servicer shall provide Investor detailed reports of payment collections, disbursements, advances and fees charged as compensation as set forth herein by the fifteenth (15) business day of each month for the prior months activity.
Investor Accounting. Provide any information regarding reconciliation differences in your custodial account(s) that could affect the loans being transferred to EMC.