Loan Servicing Portfolio Sample Clauses

Loan Servicing Portfolio. Except as set forth on SCHEDULE 5.28, CU Bank services no loans owned in whole or in part by other parties.
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Loan Servicing Portfolio. (a) To the Knowledge of NFI, there does not exist an event of default or event of termination, or any event that with notice could constitute an event of default or event of termination under any Mortgage Loan Servicing Agreement or Mortgage Loan Securitization Document with respect to NFI or any of its Subsidiaries. (b) NFI or one of its Subsidiaries possesses the entire right, title and interest in and to the servicing of the Mortgage Loan Servicing Portfolio and the sole right to service the Mortgage Loan Servicing Portfolio, subject to the Mortgage Loan Servicing Agreements and the Mortgage Loan Securitization Documents, free and clear of all Liens, other than Permitted Liens or Liens created under NFI's existing bank credit facilities. (c) All amounts payable in respect of the Mortgage Loan Servicing Portfolio which NFI or any of its Subsidiaries, as servicer of the Residential Mortgage Loans in the Mortgage Loan Servicing Portfolio, is responsible for paying under the Mortgage Loan Servicing Agreements and the Mortgage Loan Securitization Documents, directly or on behalf of any holder of any Residential Mortgage Loan, have, in all material respects, been paid when due and payable. (d) Except in the ordinary course of business, neither NFI nor any of its Subsidiaries is a party to any agreement pursuant to which NFI or any of its Subsidiaries has provided a guarantee, funds for a reserve account, liquidity facility, derivative transaction or similar credit enhancement relating to any Serviced Mortgage Loan. (e) No trigger event has occurred and is continuing as of the date hereof which has caused an increase in a reserve requirement, increase in an overcollateralization requirement (or prevented a decrease in any overcollateralization requirement), early amortization of securities issued by any Securitization Trust or termination of any reinvestment or revolving period under any Mortgage Loan Servicing Agreement or Mortgage Loan Securitization Document. (f) To the Knowledge of NFI, the prospectuses, prospectus supplements and registration statements for the offering of securities, and any amendments or supplements thereto, distributed, delivered or filed in connection with the sales of securities that have been issued prior to the date hereof by any Securitization Trust, as of their respective dates, did not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circ...
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Loan Servicing Portfolio. (a) Section 5.11(a) of the Company Disclosure Schedule sets forth a true, complete and correct list of all Contracts whereby the Company or any of its Subsidiaries has agreed to service any Home Equity Loan on behalf of any Securitization Trust or other Person, including without limitation, any Home Equity Loan Securitization Document, any Home Equity Loan Servicing Agreement and the HSF II Program Documents. (b) Except as set forth in Section 5.11(b) of the Company Disclosure Schedule, there are no Contracts to which the Company or any of its Subsidiaries is a party pursuant to which the Company or any of its Subsidiaries may be required to repurchase Home Equity Loans in the Home Equity Loan Portfolio (other than due to a breach of a representation or warranty). Except as set forth in Section 5.11(b) of the Company Disclosure Schedule, neither the Company nor any of its Subsidiaries (i) has repurchased any material amount of home equity loans that was transferred pursuant to any agreement due to a breach or claimed breach of any representation or warranty made by the Company or any of its Subsidiaries or (ii) received written notice (or to the Knowledge of the Company, any other notice) that it is in breach of any representation or warranty made by the Company or any of its Subsidiaries under any Home Equity Loan Securitization Document or Whole Loan Sale Agreement. (c) Section 5.11(c) of the Company Disclosure Schedule identifies which Home Equity Loan Securitization Documents relate to transactions that are treated as financings for accounting purposes and which relate to transactions that are treated as sales for accounting purposes. All transactions undertaken by the Company or any of its Subsidiaries pursuant to any Home Equity Loan Securitization Documents are treated as sales for tax purposes. The Home Equity Loan Securitization Documents include all material Contracts to which the Company or any of its Subsidiaries is a party relating to all term securitizations for the permanent funding of mortgage loans effected by the Company or any of its Subsidiaries (other than the HSF II Program Documents) in respect of which securities issued by the related securitization vehicle are outstanding as of the date hereof. (d) Except as set forth in Section 5.11(d) of the Company Disclosure Schedule, the Company or one of its Subsidiaries possesses the entire right, title and interest in and to the servicing of the Home Equity Loan Servicing Portfolio and the ...
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Loan Servicing Portfolio. Except as set forth on Schedule 4.28, Home Bank services no loans owned in whole or in part by other parties.
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Loan Servicing Portfolio. Except as set forth in Schedule 3.24, neither BRB nor any of its Subsidiaries services loans owned in whole or in part by other persons.
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Loan Servicing Portfolio. Except as set forth on Schedule 4.24, neither Bancorp nor CUB services loans owned in whole or in part by other persons.
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Loan Servicing Portfolio. Except as set forth on Schedule 3.24, neither CorpBank nor any CorpBank Subsidiary services loans owned in whole or in part by other persons.
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Related to Loan Servicing Portfolio

  • Loan Servicing The servicing practices used with respect to each Mortgage Loan have been in all material respects legal, proper, and prudent.

  • Servicing of the Mortgage Loans The Mortgage Loans have been sold by the Seller to the Purchaser on a servicing released basis. Subject to, and upon the terms and conditions of this Agreement and the Interim Servicing Agreement (with respect to each Mortgage Loan, for an interim period, as specified therein), the Seller hereby sells, transfers, assigns, conveys and delivers to the Purchaser the Servicing Rights. The Purchaser shall retain the Interim Servicer as contract servicer of the Mortgage Loans for an interim period pursuant to and in accordance with the terms and conditions contained in the Interim Servicing Agreement (with respect to each Mortgage Loan, for an interim period, as specified therein). The Seller shall cause the Interim Servicer to execute the Interim Servicing Agreement on the initial Closing Date. Pursuant to the Interim Servicing Agreement (with respect to each Mortgage Loan, for an interim period, as specified therein), the Interim Servicer shall begin servicing the Mortgage Loans on behalf of the Purchaser and shall be entitled to a Servicing Fee with respect to such Mortgage Loans until the applicable Transfer Date. The Interim Servicer shall conduct such servicing in accordance with the Interim Servicing Agreement. The Interim Servicer may enter into subservicing agreements with subservicers for the servicing and administration of the Mortgage Loans and for the performance of any and all other activities of the Interim Servicer as provided in the Interim Servicing Agreement. The Purchaser hereby acknowledges that the Seller shall assign its obligation to service the Mortgage Loans for the benefit of the Purchaser to its interim subservicer, which, on the date of this Agreement, is either Option One Mortgage Corporation or Litton Loan Servicing, LP.

  • Mortgage Loans Upon the liquidation of any Mortgage Loan, the Servicer shall remit the proceeds thereof to the related Certificate Account in accordance with Sections 3.05 and 3.06 above and shall deliver to the Trustee a Request for Release requesting that the Trustee execute such instrument of release or satisfaction as is necessary to release the related Mortgaged Property from the lien of the related Mortgage. The Trustee shall, within five Business Days of its receipt of such a Request for Release, release, or cause the Custodian to release, the related Trustee Mortgage Loan File to the Servicer. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to a Certificate Account or Distribution Account. From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan, including but not limited to, collection under any Title Insurance Policy, Primary Mortgage Insurance Policy, flood insurance policy or Standard Hazard Insurance Policy or to effect a partial release of any Mortgaged Property from the lien of the related Mortgage, the Servicer shall deliver to the Trustee a Request for Release. The Trustee shall, within five Business Days after its receipt of such Request for Release, release, or cause the Custodian to release, the related Trustee Mortgage Loan File to the Servicer. Any such Request for Release shall obligate the Servicer to return each and every document previously requested from the Trustee Mortgage Loan File to the Trustee by the twenty-first day following the release thereof, unless (a) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the related Certificate Account or Distribution Account or the Trustee Mortgage Loan File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer has delivered to the Trustee a certificate of the Servicer certifying as to the name and address of the Person to which such Trustee Mortgage Loan File or such document was delivered and the purpose or purposes of such delivery. Upon receipt of an Officer's certificate of the Servicer stating that such Mortgage Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the applicable Certificate Account or the Distribution Account have been so deposited, or that such Mortgage Loan has become an REO Property, the Request for Release shall be released by the Trustee to the Servicer.

  • Mortgage Loan The appraisal was conducted by an appraiser who had no interest, direct or indirect, in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and the appraiser both satisfy the applicable requirements of Title XI of the Financial Institution Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;

  • Master Servicer to Service Mortgage Loans For and on behalf of the Certificateholders, the Master Servicer shall service and administer the Mortgage Loans in accordance with the terms of this Agreement and customary and usual standards of practice of prudent mortgage loan servicers. In connection with such servicing and administration, the Master Servicer shall have full power and authority, acting alone and/or through Subservicers as provided in Section 3.02 hereof, subject to the terms hereof (i) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (iii) to collect any Insurance Proceeds and other Liquidation Proceeds (which, for the purpose of this Section, includes any Subsequent Recoveries), and (iv) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan; provided that the Master Servicer shall not take any action that is inconsistent with or prejudices the interests of the Trust Fund or the Certificateholders in any Mortgage Loan or the rights and interests of the Depositor, the Trustee and the Certificateholders under this Agreement. The Master Servicer shall represent and protect the interests of the Trust Fund in the same manner as it protects its own interests in mortgage loans in its own portfolio in any claim, proceeding or litigation regarding a Mortgage Loan, and shall not make or permit any modification, waiver or amendment of any Mortgage Loan which would cause any REMIC created hereunder to fail to qualify as a REMIC or result in the imposition of any tax under Section 860F(a) or Section 860G(d) of the Code. Without limiting the generality of the foregoing, the Master Servicer, in its own name or in the name of the Depositor and the Trustee, is hereby authorized and empowered by the Depositor and the Trustee, when the Master Servicer believes it appropriate in its reasonable judgment, to execute and deliver, on behalf of the Trustee, the Depositor, the Certificateholders or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge and all other comparable instruments, with respect to the Mortgage Loans, and with respect to the Mortgaged Properties held for the benefit of the Certificateholders. The Master Servicer shall prepare and deliver to the Depositor and/or the Trustee such documents requiring execution and delivery by either or both of them as are necessary or appropriate to enable the Master Servicer to service and administer the Mortgage Loans to the extent that the Master Servicer is not permitted to execute and deliver such documents pursuant to the preceding sentence. Upon receipt of such documents, the Depositor and/or the Trustee shall execute such documents and deliver them to the Master Servicer. The Master Servicer further is authorized and empowered by the Trustee, on behalf of the Certificateholders and the Trustee, in its own name or in the name of the Subservicer, when the Master Servicer or the Subservicer, as the case may be, believes it appropriate in its best judgment to register any Mortgage Loan on the MERS(R) System, or cause the removal from the registration of any Mortgage Loan on the MERS(R) System, to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of assignment and other comparable instruments with respect to such assignment or re-recording of a Mortgage in the name of MERS, solely as nominee for the Trustee and its successors and assigns. In accordance with the standards of the preceding paragraph, the Master Servicer shall advance or cause to be advanced funds as necessary for the purpose of effecting the payment of taxes and assessments on the Mortgaged Properties, which advances shall be reimbursable in the first instance from related collections from the Mortgagors pursuant to Section 3.06, and further as provided in Section 3.08. The costs incurred by the Master Servicer, if any, in effecting the timely payments of taxes and assessments on the Mortgaged Properties and related insurance premiums shall not, for the purpose of calculating monthly distributions to the Certificateholders, be added to the Stated Principal Balances of the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.