Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2005-Ar1), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar6), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers as reported to the Distribution Account pursuant to the related Servicing AgreementMaster Servicer. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-7), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-8), Pooling and Servicing Agreement (GreenPoint MTA Trust, Mortgage Pass-Through Certificates, Series 2005-Ar1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Company and the related Servicer to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Company and the related Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Company and the related Servicer and shall cause each the Company and related Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer Person under this Agreement and the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Company and the related Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the Company's, the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.05 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Company and each Servicer to the Distribution Account pursuant to this Agreement and the related Servicing Agreement. The Trustee shall furnish each Servicer the Company, the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Company, the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Trustee nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Securities Administrator's actual costs. The Trustee shall execute and deliver to the Company or the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-Ac3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Certs Ser 2003-Ac7)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.046.03, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Master Servicer Collection Account pursuant to the related applicable Servicing AgreementAgreements. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A2), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Payment Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and terms hereof based on information provided to the Master Servicer with any powers by the Securities Administrator pursuant to the third paragraph of attorney, in substantially Section 6.01(j) of the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyIndenture. The Indenture Trustee shall provide access and shall cause the Custodian to provide access and the Securities Administrator shall provide access, in each case to the records and documentation in possession of the Trustee Indenture Trustee, the Custodian or the Securities Administrator, as the case may be, regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Indenture Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities and shall cause the Custodian to allow representatives of the above entities and the Securities Administrator shall allow representatives of the above entities, in each case to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s, the Custodian’s or the Securities Administrator’s, as the case may be, actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Servicing Agreement (Renaissance Home Equity Loan Trust 2006-1, Home Equity Loan Asset-Backed Notes, Series 2006-1), Servicing Agreement (Renaissance Home Equity Loan Trust 2006-4), Servicing Agreement (Renaissance Home Equity Loan Trust 2006-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty of obligation to supervise, monitor or oversee the activities of Cendant (or any successor thereto) under any Cendant Servicing Agreements with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of Cendant (or any successor thereto)as successor Servicer under any Cendant Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of the Cendant Servicing Agreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-9), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-10), Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Certs Ser 03 1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust Mortgage Pass Thro Cert Series 2002-8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Bear Stearns Arm Trust 2002-7)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related MortgageIT Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related MortgageIT Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related MortgageIT Servicing Agreement. The Indenture Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Indenture Trustee shall provide access to the records and documentation in possession of the Indenture Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s actual costs. The Indenture Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-2, Mortgage-Backed Notes, Series 2005-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-3, Mortgage-Backed Notes, Series 2005-3), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-4, Mortgage-Backed Notes, Series 2005-4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement this Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Asap1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap3), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of Cendant (or any successor thereto) under any Cendant Servicing Agreements with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of Cendant (or any successor thereto) as successor Servicer under any Cendant Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of the Cendant Servicing Agreements. In no event shall the Master Servicer have any duty or obligation to supervise, monitor or oversee the obligations of MLCC as servicer of the Additional Collateral under the Additional Collateral Servicing Agreement. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust Mort Pass THR Certs Ser 2003-6), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Arm Trust 03-7), Pooling and Servicing Agreement (Bear Stearns Arm Trust 2003-5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.046.03, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Master Servicer Collection Account pursuant to this Agreement. If the related Servicing AgreementMaster Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related applicable Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar4), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar3), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asl1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap2), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap1)
Master Servicer. (a) The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty of obligation to supervise, monitor or oversee the activities of Cendant (or any successor thereto) under any Cendant Servicing Agreement with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of Cendant (or any successor thereto) as successor Servicer under the applicable Cendant Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of such Cendant Servicing Agreement. .
(b) The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. .
(c) The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. .
(d) The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1)
Master Servicer. The Master Servicer shall, from and after beginning on the Closing Date, supervise, monitor and oversee the obligation of the Servicers Company and the related Servicer to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement Agreement, respectively and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administrationservicing. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Company and the related Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, receive and review and evaluate all certain reports, information and other data provided to the Master Servicer by each the Company and the related Servicer and shall cause each enforce the obligations, conditions, covenants, representations and warranties of the Company and related Servicer to perform the extent set forth in this Agreement and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement, respectively. The Master Servicer shall independently monitor the Company and separately monitor each the related Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided described in the previous sentence and received by the Master Servicer on a monthly basis and coordinate corrective adjustments to the related Company’s, the Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Company and each Servicer to the Distribution Account pursuant to this Agreement and the related Servicing Agreement, respectively. The Trustee Master Servicer shall furnish each be entitled to conclusively rely on the Mortgage Loan data provided by the Company and the Servicer and shall have no liability for any errors in such Mortgage Loan data. The Master Servicer, the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer Trustee and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee Securities Administrator shall provide access to the records and documentation in possession of the Master Servicer, the Trustee or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeMaster Servicer, the Trustee or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Master Servicer, the Trustee nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Master Servicer, the Trustee and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Master Servicer’s, the Trustee's ’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the Company, the related Servicer and or the Master Servicer Servicer, as applicable, any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentsecurity instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument security instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A4), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investor Trust Series MLCC 2005-3), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investor Trust Series MLCC 2005-3)
Master Servicer. (a) The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreement. Agreements.
(b) The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. .
(c) The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. .
(d) The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 10), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related MortgageIT Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related MortgageIT Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related MortgageIT Servicing Agreement. The Indenture Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicer's or the Master Servicer's use or misuse of such powers of attorney. The Indenture Trustee shall provide access to the records and documentation in possession of the Indenture Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's actual costs. The Indenture Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's sale or other documents necessary or reasonably desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Sale and Servicing Agreement (MortgageIT Trust 2004-1), Sale and Servicing Agreement (Mortgageit Trust 2004-2, Mortgage-Backed Notes, Series 2004-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-1, Mortgage-Backed Notes, Series 2005-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.04 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing Agreement this Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Fm1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian, as its agent, shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian, as its agent, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s or the Custodian’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-6), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-11), Pooling and Servicing Agreement (Bear Stearns Arm Trust 2005-12)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer, the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the applicable Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl3), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl2 Asset Backed Pass-Through Certificates)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each enforce the obligations of the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Note Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and terms hereof based on information provided to the Master Servicer with any powers by the Securities Administrator pursuant to the third paragraph of attorneySection 6.01(j) of the Indenture. The Indenture Trustee, Master Servicer, Custodian and Securities Administrator shall provide access, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access each case to the records and documentation in possession of the Trustee Indenture Trustee, the Mater Servicer, the Custodian, or the Securities Administrator, as the case may be, regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Indenture Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Indenture Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities entities, in each case to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s, the Custodian’s or the Securities Administrator’s, as the case may be, actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Sale and Servicing Agreement (Centex Land Vista Ridge Lewisville III General Partner, LLC), Sale and Servicing Agreement (Centex Land Vista Ridge Lewisville III General Partner, LLC), Sale and Servicing Agreement (Centex Land Vista Ridge Lewisville III General Partner, LLC)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer as reported to the Distribution Account pursuant Master Servicer; provided, however, that the Master Servicer will not be required to recompute the related Servicing Agreementcalculation of any Prepayment Charge. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability for the use by the Servicer or the Master Servicer of any such powers of attorney. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.04 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; providedPROVIDED, howeverHOWEVER, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Cert 2002-Ar3), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate attorney needed to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer for any cost, liability or expense incurred by the Trustee in connection with such Person's use or misuse of any such power of attorney. For and on behalf of the Certificateholders, as independent contractors of the Trustee, the Master Servicer shall, in accordance with this Agreement, master service and administer the Mortgage Loans by overseeing and enforcing the servicing of the Mortgage Loans by the related Servicer according to the terms of this Agreement. The Trustee and the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, neither the Trustee or the Custodian shall not be required to provide access to such records and documentation if to the provision thereof would violate the legal right to privacy of any MortgagorCertificateholders. The Trustee and the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon written request any court pleadings, requests for trustee's sale or other documents necessary or desirable prepared by the Master Servicer to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 5he), Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 3he)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 7), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 9)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. The Indenture Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Indenture Trustee shall provide access to the records and documentation in possession of the Indenture Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee; provided, however, that, unless otherwise required by law, the Indenture Trustee shall not be required to provide access to such records and documentation to the Noteholders if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s actual costs. The Indenture Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1), Sale and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Arm Trust 2005-3), Pooling and Servicing Agreement (Bear Stearns ARM Trust, Series 2005-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Company and the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with the Company and each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by the Company and each Servicer and shall cause the Company and each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer Person under this Agreement and the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor the Company and each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Company's, the Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.05 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Company and the Servicers to the Distribution Account Protected Accounts pursuant to this Agreement and the related Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Company, the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Company, the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Trustee nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Securities Administrator's actual costs. The Trustee shall execute and deliver to the Company or the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Certificates Series 2002-Ac4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of [NAME OF ADDITIONAL COLLATERAL SERVICER] (or any successor thereto) under any Additional Collateral Servicing Agreements with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of [NAME OF ADDITIONAL COLLATERAL SERVICER](or any successor thereto) as successor Servicer under any Additional Collateral Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of the Additional Collateral Servicing Agreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian, as its agent, shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian, as its agent, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s or the Custodian’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1), Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement this Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He5), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Asap2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing Agreements. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and upon written request from a servicing officer other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian, as its agent, shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian, as its agent, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s or the Custodian’s actual costs. The Trustee shall execute upon the related Servicer’s written instruction (which includes the documents to be signed) and deliver to the related Servicer and the Master Servicer Servicer, any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Master Servicer Collection Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2004-9), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-8)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicers as reported to the Master Servicer. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer's failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the related Servicing Agreement and that any conditions to such modification set forth in the Distribution Account pursuant related Servicing Agreement have been satisfied. Furthermore, if the related Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer Servicer, with any powers of attorney, in substantially the form attached hereto as Exhibit KO, and upon written request from a Servicing Officer, other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee (or Custodian, on its behalf) shall provide access to the records and documentation in possession of the Trustee (or Custodian, on its behalf) regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, or Custodian on its behalf; provided, however, that, unless otherwise required by law, the Trustee Trustee, or Custodian on its behalf, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, or Custodian on its behalf, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or Custodian's actual costs. The Trustee shall execute execute, upon the Servicer's written instruction (which includes the documents to be signed), and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-4), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective Mortgage the Loans in accordance with the terms of the related Mortgage Loan Purchase and Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Mortgage Loan Purchase and Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 4.3 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Mortgage Loan Purchase and Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided reasonably acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service or master service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer for any cost, liability or expense arising from the misuse thereof by the Master Servicer or the Servicer. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable and, in each case, provided to the Trustee by the Servicer or Master Servicer to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Loan Document or otherwise available at law or equity. The Trustee shall have no responsibility for the willful malfeasance or any wrongful or negligent actions taken by the Master Servicer or the Servicer in respect of any document delivered by the Trustee under this paragraph, and the Trustee shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense arising from the misuse thereof by the Master Servicer or the Servicer.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3), Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under the Servicing Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing Agreement Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.02 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related terms of the Servicing AgreementAgreement based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreement. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST MLMI Series 2005-A1), Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST MLMI Series 2005-A1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing Agreement this Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He3), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.03 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; providedPROVIDED, howeverHOWEVER, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity. Notwithstanding the foregoing or any other provision of this Agreement or the Cendant/MLCC Servicing Agreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of MLCC or to enforce the obligation of MLCC under the Cendant/MLCC Servicing Agreement with respect to any Additional Collateral or any Surety Bond, including, without limitation, the collection of any amounts owing to the Trust in respect thereof (unless and until the Master Servicer shall have assumed the obligations of MLCC as successor Servicer under such Servicing Agreement pursuant to Section 3.02 hereof, in which case, as successor Servicer, it shall be bound to service and administer the Additional Collateral and the Surety Bond in accordance with the provisions of such Servicing Agreement).
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Ace Securities Corp. Home Equity Loan Trust, Series 2006-Nc1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op1)
Master Servicer. (a) The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreement. Agreements.
(b) The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service or master service and administer the related Mortgage Loans and REO Property. .
(c) The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. .
(d) The Trustee shall execute and deliver to the related Servicer Servicers and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall have no duties (express or otherwise) except as expressly set forth herein. The Master Servicer shall supervise, monitor and oversee the obligation obligations of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Certificate Administrator by the 15th calendar day of each month as shall be necessary in order for it to prepare the statements specified in Section 6.045.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers as reported to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equityServicer.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2007-A), Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2007-A)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the applicable Servicing Agreements. Not later than the Closing Date, the Master Servicer shall notify the Wells Fargo Guide ▇▇▇▇icers that they are now servicing the Wells Fargo Guide ▇▇▇▇gage Loans on behalf of the Master Servicer and the Trustee for the benefit of the Certificateholders. Such notice shall also provide that, upon the occurrence of an Event of Default under this Agreement and the termination of the Master Servicer hereunder the Wells Fargo Guide ▇▇▇▇icers shall, upon receipt of notice of such termination from the Master Servicer, the Trustee or the successor master servicer, service and administer the Wells Fargo Guide ▇▇▇▇gage Loans for the benefit of the Trustee and the successor master servicer and remit all amounts collected with respect to the Wells Fargo Guide ▇▇▇▇gage Loans in accordance with the instructions provided by the Trustee or the successor master servicer. The Master Servicer shall instruct the Wells Fargo Guide ▇▇▇▇icers to provide all remittances, reports, information and other data or correspondence with respect to each related Wells Fargo Guide ▇▇▇▇gage Loan to the Master Servicer in accordance with instructions to be provided by the Master Servicer. Notwithstanding anything in this Agreement or any Servicing AgreementAgreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee, and shall have no liability to any Certificateholder or to any other Person for the activities of any Servicer with respect to the servicing and administration of any defaulted Cash Flow Loan. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Prime Mort Tr Pas THR Cer Ser 2004 Cl2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Company and the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Company and the Servicers as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Company and the Servicers and shall cause each Servicer the Company and the Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer Person under this Agreement and the related Servicing AgreementAgreements. The Master Servicer shall independently and separately monitor each Servicer's the Company and the Servicers' servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Company's, the Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.05 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Company and the Servicers to the Distribution Account Protected Accounts pursuant to this Agreement and the related Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Company, the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Company, the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, MBIA, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Trustee nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Securities Administrator's actual costs. The Trustee shall execute and deliver to the related Servicer Company or the Servicers and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to desirable
(i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asst Bk Cert Ser 2002-Ac3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account Securities Administrator pursuant to the related applicable Servicing Agreements. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer Servicer, upon written request from a servicing officer, with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian on its behalf or the related Servicer shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian or the related Servicer; provided, however, that, unless otherwise required by law, the Trustee Trustee, the Custodian, or the related Servicer, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, or the related Servicer, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, Custodian’s or the related Servicer’s actual costs. The Trustee shall execute upon the related Servicer’s written instruction (which includes the documents to be signed) and deliver to the related Servicer and the Master Servicer Servicer, any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicers as reported to the Master Servicer. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer's failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the related Servicing Agreement and that any conditions to such modification set forth in the related Servicing Agreement have been satisfied. Furthermore, if the related Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the Distribution Account pursuant related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the related Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer Servicer, upon written request from a Servicing Officer, with any powers of attorney, in substantially the form attached hereto as Exhibit KO, and upon written request from a Servicing Officer, other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee (or Custodian, on its behalf) shall provide access to the records and documentation in possession of the Trustee (or Custodian, on its behalf) regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, or Custodian on its behalf; provided, however, that, unless otherwise required by law, the Trustee or Custodian on its behalf, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or Custodian on its behalf, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or Custodian's actual costs. The Trustee shall execute execute, upon the Servicer's written instruction (which includes the documents to be signed), and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.04 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. The Indenture Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Indenture Trustee shall provide access to the records and documentation in possession of the Indenture Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee; provided, however, that, unless otherwise required by law, the Indenture Trustee shall not be required to provide access to such records and documentation to the Noteholders if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s actual costs. The Indenture Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Master Servicing Agreement (Citigroup Mortgage Loan Trust 2005-11)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer the Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer the Servicers under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each Servicer's the Servicers’ servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicers. The Trustee shall furnish each the related Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the related Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer, the related Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2005-Sl1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04the Grantor Trust Agreement and the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. Notwithstanding anything in this Agreement or the ▇▇▇▇▇ Fargo Servicing Agreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of the Servicer or to enforce the obligations of the Servicer under the ▇▇▇▇▇ Fargo Servicing Agreement with respect to any Pledged Assets securing any Pledged Asset Loan, including, without limitation, the collection of any amounts owing to the Grantor Trust in respect thereof. The Grantor Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Grantor Trustee shall not be liable for the Servicer's or the Master Servicer's use or misuse of such powers of attorney. The Grantor Trustee shall provide access to the records and documentation in possession of the Grantor Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Grantor Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Grantor Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Grantor Trustee's actual costs. The Grantor Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's sale or other documents necessary or reasonably desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Applicable Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Applicable Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Applicable Servicer and shall cause each the Applicable Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Applicable Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Applicable Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Applicable Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Applicable Servicer to the Distribution Certificate Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Applicable Servicer. The Trustee shall furnish each the Applicable Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Applicable Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Applicable Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Applicable Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian and the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian and the Securities Administrator; provided, however, that, that unless otherwise required by law, none of the Trustee Trustee, the Custodian and the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s and the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Applicable Servicer and or the Master Servicer upon written request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-He1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04the Grantor Trust Agreement and the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. Notwithstanding anything in this Agreement or the ▇▇▇▇▇ Fargo Servicing Agreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of the Servicer or enforce the obligations of the Servicer under the ▇▇▇▇▇ Fargo Servicing Agreement with respect to any Pledged Assets securing any Pledged Asset Loan, including, without limitation, the collection of any amounts owing to the Grantor Trust in respect therof. The Grantor Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Grantor Trustee shall not be liable for the Servicer's or the Master Servicer's use or misuse of such powers of attorney. The Grantor Trustee shall provide access to the records and documentation in possession of the Grantor Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Grantor Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Grantor Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Grantor Trustee's actual costs. The Grantor Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's sale or other documents necessary or reasonably desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian, as its agent, shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian, as its agent, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2005-4)
Master Servicer. The Master Servicer shall, from and after beginning on the Closing Date, supervise, monitor and oversee the obligation of the Servicers related Servicer to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the related Servicer as necessary from time-to-time to time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the related Servicer and shall cause each the related Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer Person under this Agreement and the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the related Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.06 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related each Servicer to the Distribution Account pursuant to this Agreement and the related Servicing Agreement. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer's failure to comply with the terms of the related Servicing Agreement or this Agreement. If the related Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of such Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the related Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in such Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such Servicer the related Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian on its behalf and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee or the Custodian on its behalf or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Trustee Trustee, the Custodian nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Luminent Mortgage Trust 2006-3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account Protected Accounts pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 05 2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall 108 cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.044.02, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Master Servicer Collection Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each If the Master Servicer and the Master Servicer with Securities Administrator are the same entity, then at any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and time the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholdersis terminated as Master Servicer, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee Securities Administrator shall not likewise be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equityremoved as securities administrator.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2006-3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of Cendant (or any successor thereto) under any Cendant Servicing Agreements with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of Cendant (or any successor thereto)as successor Servicer under any Cendant Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of the Cendant Servicing Agreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2003 3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-time- to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian, as its agent, shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian, as its agent, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, as its agent, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s or the Custodian’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each enforce the obligations of the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Note Account pursuant to the related Servicing Agreement. The Trustee shall furnish each Servicer and terms hereof based on information provided to the Master Servicer with any powers by the Securities Administrator pursuant to the third paragraph of attorneySection 6.01(j) of the Indenture. The Indenture Trustee, Master Servicer, Custodian and Securities Administrator shall provide access, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access each case to the records and documentation in possession of the Trustee Indenture Trustee, the Mater Servicer, the Custodian, or the Securities Administrator, as the case may be, regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Indenture Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Indenture Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities entities, in each case to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's, the Custodian's or the Securities Administrator's, as the case may be, actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Newcastle Mortgage Securities Trust 2007-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Master Servicer Collection Account pursuant to the related applicable Servicing AgreementAgreements. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-A8)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. Notwithstanding anything to the contrary herein, the Master Servicer shall have no obligation to supervise, monitor or oversee the performance of any Interim Subservicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Trust 2005-He3)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related W▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related W▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04the Grantor Trust Agreement and the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related W▇▇▇▇ Fargo Servicing Agreement. The Grantor Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Grantor Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Grantor Trustee shall provide access to the records and documentation in possession of the Grantor Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Grantor Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Grantor Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Grantor Trustee's ’s actual costs. The Grantor Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related each Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related each Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by each Servicer. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicers pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and the Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.obtain
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prime Mortgage Trust 2004-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of ▇▇▇▇▇ Fargo under this Agreement and GMAC under the Servicers Servicing Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of this Agreement or the related Servicing Agreement Agreement, as applicable, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer the Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such the related Servicer under this Agreement or the related Servicing Agreement, as applicable. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related each Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related each Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by each Servicer. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such each Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicers pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (MortgageIT Securities Corp. Mortgage Loan Trust, Series 2007-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers as reported to the Distribution Account pursuant to the related Servicing AgreementMaster Servicer. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-9)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective the Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer the Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer the Servicers under this Agreement and the related Servicing AgreementAgreements. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by such Servicer. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such each Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the related Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person's misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's, the Custodian's or the Securities Administrator's actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents prepared and delivered to the Trustee and reasonably acceptable to it and necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ace Securities Corp Hm Equity Ln Trust Ser 2003-He1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Trust Administrator pursuant to the third paragraph of Section 8.01. Notwithstanding any provision of this Agreement to the contrary, the Master Servicer shall have no duty or obligation to confirm or verify the amounts reported by the Servicer as Realized Losses with respect to any Determination Date unless the Servicer shall have failed the Servicer Enhanced Review Test for such Determination Date. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Propertyperform its master servicing obligations. The Trustee shall have no responsibility for any action of the Master Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with the Master Servicer's misuse of any such power of attorney. Fremont 2005-A Pooling & Servicing Agreement The Master Servicer shall provide access to the records and documentation in possession of the Trustee Master Servicer regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeMaster Servicer; provided, however, that, unless otherwise required by law, the Trustee Master Servicer shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Master Servicer shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the TrusteeMaster Servicer's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s or the Custodian’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A7)
Master Servicer. The Master Servicer shall, from and after beginning on the Closing Date, supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer Person under this Agreement and the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.06 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Securities Administrator and the Servicer pursuant to this Agreement and the Servicing Agreement. In addition to the Distribution Account pursuant foregoing, in connection with a modification of any Mortgage Loan by the Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement or this Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each the Servicer and the Master Servicer Servicer, upon written request from a servicing officer, with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian on its behalf, or the Servicer shall provide access to the records and documentation in possession of the Trustee or the Custodian on its behalf, or the Servicer regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Servicer; provided, however, that, unless otherwise required by law, neither the Trustee Trustee, the Custodian nor the Servicer shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Servicer shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Servicer’s actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer Servicer, upon such party’s written instruction (which includes the documents to be signed) any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-St1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Trust Administrator pursuant to the third paragraph of Section 8.01. Notwithstanding any provision of this Agreement to the contrary, the Master Servicer shall have no duty or obligation to confirm or verify the amounts reported by the Servicer as Realized Losses with respect to any Determination Date unless the Servicer shall have failed the Servicer Enhanced Review Test for such Determination Date. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Propertyperform its master servicing obligations. The Trustee shall have no responsibility for any action of the Master Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with the Master Servicer's misuse of any such power of attorney. The Master Servicer shall provide access to the records and documentation in possession of the Trustee Master Servicer regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeMaster Servicer; provided, however, that, unless otherwise required by law, the Trustee Master Servicer shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Master Servicer shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the TrusteeMaster Servicer's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Master Servicer. (a) The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account Servicers pursuant to the related applicable Servicing Agreement. Agreements.
(b) The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. .
(c) The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. .
(d) The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Trust Mortgage Pass-Through Certs Ser 2004)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related its Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04the Grantor Trust Agreement and the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. The Grantor Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Grantor Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Grantor Trustee shall provide access to the records and documentation in possession of the Grantor Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Grantor Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Grantor Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Grantor Trustee's ’s actual costs. The Grantor Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide a report in the form of a computer readable magnetic tape (or by such information to other means as the Master Servicer and the Securities Administrator may agree from time to time) containing such data and information, as shall be necessary in order for it agreed to by the Master Servicer and the Securities Administrator such as to permit the Securities Administrator to prepare the statements specified in Section 6.046.04 by 12:00 p.m. Central Standard Time on the 5th Business Day prior to each Distribution Date, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder; provided, however, in no event shall the Master Servicer be required to provide such information to the Securities Administrator earlier than 12:00 p.m. Central Standard Time on the 19th calendar day of the month. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account Master Servicer pursuant to the applicable Servicing Agreements. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by the related Servicer and shall have no liability for any errors in such Mortgage Loan data. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. In connection with any such Servicing Modification, the related Servicer may reimburse itself from the Trust for any outstanding Advances and Servicing Advances at the time of the modification to the extent interest and principal is forgiven or Servicing Advances are reimbursed. Any such reimbursement shall occur during the same calendar month as the Servicing Modification, and, to the extent such Advance or Servicing Advance is forgiven, any such reimbursement will be treated as a Realized Loss which will be incurred on the Distribution Date related to the calendar month during which the Servicing Modification occurred. To the extent Advances and Servicing Advances or other amounts owed the Servicer are capitalized, the related Servicer may reimburse itself from such arrearages on a first priority basis. The Trustee shall furnish each Servicer the Servicers and the Master Servicer Servicer, upon written request from a servicing officer, with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the related Custodian on its behalf or the related Servicer shall provide access to the records and documentation in the possession of the Trustee related Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trusteerelated Custodian or the related Servicer; provided, however, that, unless otherwise required by law, the Trustee Trustee, the related Custodian, or the related Servicer, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the related Custodian, on its behalf, or the related Servicer, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the related Custodian’s or the related Servicer’s actual costs. The Trustee shall execute upon the related Servicer’s written instruction (which includes the documents to be signed) and deliver to the related Servicer and the Master Servicer Servicer, any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Countrywide Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Countrywide Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Countrywide Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.obtain
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II 2005-Ar4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing Agreements. Notwithstanding anything in this Agreement to the contrary, with respect to any Mortgage Loan secured by any Additional Collateral, the Master Servicer shall have no duty of obligation to supervise, monitor or oversee the activities of Cendant (or any successor thereto) under any Cendant Servicing Agreements with respect to any Additional Collateral (unless the Master Servicer shall have assumed the obligations of Cendant (or any successor thereto)as successor Servicer under any Cendant Servicing Agreement pursuant to Section 3.03 of this Agreement, in which event, as successor Servicer, it will service and administer the Additional Collateral in accordance with the provisions of the Cendant Servicing Agreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service or master service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-11)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and the Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement. The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, the Servicing Agreement and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related terms hereof and pursuant to the Servicing AgreementAgreement based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with the Servicer’s or the Master Servicer’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp., Home Equity Loan Trust, Series 2005-Wf1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the related Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2005-Ag1)
Master Servicer. The Master Servicer shallServicer, from and after beginning on the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers to service and administer their respective Mortgage Loans HELOCs in accordance with the terms of the related Servicing Agreement or this Agreement, as applicable, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administrationservicing. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, receive and review and evaluate all certain reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer enforce the respective obligations, conditions and covenants of the Servicers to perform and observe the covenants, obligations and conditions to be performed extent set forth in this Agreement or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the related Servicer's ’s servicing activities with respect to each related Mortgage Loanthe HELOCs, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan HELOC monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement or this Agreement, as applicable. The Master Servicer shall be entitled to conclusively rely on the HELOC data provided to it by each Servicer and shall have no liability for any errors in such HELOC data. The Indenture Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers to service and administer and the Master Servicer to master service and administer the related Mortgage Loans HELOCs and REO Property. The Indenture Trustee shall not be liable for the Servicers’ or the Master Servicer’s use or misuse of such powers of attorney. The Master Servicer, Securities Administrator and Indenture Trustee shall provide access to the records and documentation in their possession of the Trustee regarding the related Mortgage Loans HELOCs and REO Property and the servicing thereof to the CertificateholdersNoteholders, the Note Insurer, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Master Servicer, Securities Administrator and Indenture Trustee, as the case may be; provided, however, that, unless otherwise required by law, the Master Servicer, Securities Administrator and Indenture Trustee shall not be required to provide access to such records and documentation to the Noteholders if the provision thereof would violate the legal right to privacy of any Mortgagor. The Master Servicer, Securities Administrator and Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Master Servicer, Securities Administrator and Indenture Trustee's ’s actual costs. The Trustee Indenture Trustee, at the request of the Servicers or Master Servicer, as applicable, shall execute and deliver to the related Servicer and Servicers or the Master Servicer Servicer, as the case may be, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Master Servicer. The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account Securities Administrator pursuant to the related applicable Servicing Agreements. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the related Servicer is not complying with such timeframes and/or other requirements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer Servicer, upon written request from a servicing officer, with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian on its behalf or the related Servicer shall provide access to the records and documentation in the possession of the Trustee Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeCustodian or the related Servicer; provided, however, that, unless otherwise required by law, the Trustee Trustee, the Custodian, or the related Servicer, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, on its behalf, or the related Servicer, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, Custodian’s or the related Servicer’s actual costs. The Trustee shall execute upon the related Servicer’s written instruction (which includes the documents to be signed) and deliver to the related Servicer and the Master Servicer Servicer, any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-4)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, MBIA the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Prime Mortgage Trust 2003 2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related each Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related each Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by each Servicer. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicers pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodians and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodians or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the Certificate Insurer, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodians or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-Sl2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers Servicer under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing this Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicer. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Class A Certificate Insurer, the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1)
Master Servicer. The Master Servicer shall, from shall deliver a copy of the Mortgage Loan Schedule to the Servicer and after the Closing Securities Administrator on the Final Servicing Transfer Date. Prior to the Final Servicing Transfer Date, the Master Servicer shall supervise, monitor and oversee the obligation of the Interim Servicers to service and administer their respective the Mortgage Loans in accordance with the terms of the related Interim Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administrationadministration subject to the terms of the Interim Servicing Agreement. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, prior to the Final Servicing Transfer Date, the Master Servicer shall oversee and consult with each Servicer the Interim Servicers as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Interim Servicers and shall cause each Servicer the Interim Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer the Interim Servicers under the related Interim Servicing AgreementAgreements. The Master Servicer shall independently and separately monitor each Servicer's the Interim Servicers' servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Interim Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 4.05 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Interim Servicer to the Distribution Master Servicer Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Interim Servicers. The Trustee Securities Administrator shall furnish each Servicer the Interim Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Interim Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee Securities Administrator shall have no responsibility for any action of the Master Servicer or the Interim Servicers pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Interim Servicers, as applicable, for any cost, liability or expense incurred by the Securities Administrator in connection with such Person's use or misuse of any such power of attorney. The Securities Administrator and the Master Servicer shall provide access to the records and documentation in possession of the Trustee Securities Administrator or the Master Servicer regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeSecurities Administrator or the Master Servicer; provided, however, that, unless otherwise required by law, none of the Trustee Securities Administrator or the Master Servicer shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Securities Administrator and the Master Servicer shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the TrusteeSecurities Administrator's or the Master Servicer's actual costs. The Trustee shall execute and deliver to the related Servicer and Interim Servicers or the Master Servicer upon written request any court pleadings, requests for trustee's sale or other documents necessary or desirable prepared by the Servicer or the Master Servicer to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Asst Back Certs Ser 2003-5sl)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer on or after the Servicing Transfer Date, and the obligation of Fremont prior to the Servicing Transfer Date, to service and administer their respective the Mortgage Loans in accordance with the terms of this Agreement in the related Servicing Agreement case of the Servicer, or the Assignment Agreement, in the case of Fremont, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer or Fremont, as applicable, as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer or Fremont, as applicable, and shall cause each the Servicer or Fremont, as applicable, to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer or Fremont, as applicable, under this Agreement or the related Servicing Assignment Agreement, as applicable. The Master Servicer shall independently and separately monitor each the Servicer's or Fremont's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's or Fremont's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer or Fremont, as applicable, to the Distribution Account pursuant to the related Servicing terms hereof or under the Assignment Agreement, as applicable, based on information provided to the Master Servicer by the Servicer or Fremont, as applicable,. The Trustee shall furnish each the Servicer or Fremont, as applicable, and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer or Fremont, as applicable, and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicer or Fremont, as applicable, pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the Servicer or Fremont, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person's misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's, the Custodian's or the Securities Administrator's actual costs. The Trustee shall execute and deliver to the related Servicer and or Fremont, as applicable, or the Master Servicer upon written request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Sg Mortgage Securities Trust 2006-Fre2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, Date supervise, monitor and oversee the obligation obligations of the Servicers under this Agreement to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement this Agreement, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer the Servicers to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer the Servicers under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each Servicer's the servicing activities of the Servicers with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 5.03 and prepare any other information and statements required to be forwarded provided by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Servicers. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO PropertyProperties. The Trustee shall have no responsibility for any action of the Master Servicer or the Servicers pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer or the related Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with such Person’s misuse of any such power of attorney. The Trustee, the Custodian and the Securities Administrator shall provide access to the records and documentation in possession of the Trustee Trustee, the Custodian or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee, the Custodian or the Securities Administrator; provided, however, that, unless otherwise required by law, none of the Trustee Trustee, the Custodian or the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Trustee, the Custodian and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s, the Custodian’s or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Servicer and or the Master Servicer upon request any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentany other Mortgage Loan Document; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument any other Mortgage Loan Document or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He2)
Master Servicer. (a) The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related GreenPoint Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related GreenPoint Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Protected Account pursuant to the related GreenPoint Servicing Agreement. .
(b) The Trustee shall furnish each the Servicer and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. .
(c) The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's ’s actual costs. .
(d) The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns BSALTA 2005-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.04 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Protected Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian, as its agent, respectively, regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; providedPROVIDED, howeverHOWEVER, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity. Notwithstanding the foregoing or any other provision of this Agreement or the Cendant/MLCC Servicing Agreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of MLCC or to enforce the obligation of MLCC under the Cendant/MLCC Servicing Agreement with respect to any Additional Collateral or any Surety Bond, including, without limitation, the collection of any amounts owing to the Trust in respect thereof (unless and until the Master Servicer shall have assumed the obligations of MLCC as successor Servicer under such Servicing Agreement pursuant to Section 3.02 hereof, in which case, as successor Servicer, it shall be bound to service and administer the Additional Collateral and the Surety Bond in accordance with the provisions of such Servicing Agreement).
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.046.05, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Master Servicer Collection Account pursuant to the related Servicing Agreement. If the Master Servicer and the Securities Administrator are the same entity, then at any time the Master Servicer is terminated as Master Servicer, the Securities Administrator shall likewise be removed as securities administrator. The Trustee shall furnish each the Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided acceptable to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall have no liability with respect to the use of any such limited power of attorney. The Trustee or the Custodian shall provide access to the records and documentation in possession of the Trustee or the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeTrustee or the Custodian; provided, however, that, unless otherwise required by law, the Trustee or the Custodian shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's or the Custodian's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer upon request any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2)
Master Servicer. The Master Servicer shallServicer, from and after beginning on the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related Servicing Agreement or this Agreement, as applicable, and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administrationservicing. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, receive and review and evaluate all certain reports, information and other data provided to the Master Servicer by each Servicer the Servicers and shall cause each Servicer enforce the respective obligations, conditions and covenants of the Servicers to perform and observe the covenants, obligations and conditions to be performed extent set forth in this Agreement or observed by such Servicer under the related Servicing Agreement. The Master Servicer shall independently and separately monitor each the related Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreement or this Agreement, as applicable. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to it by each Servicer and shall have no liability for any errors in such Mortgage Loan data. The Indenture Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers to service and administer and the Master Servicer to master service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicers’ or the Master Servicer’s use or misuse of such powers of attorney. The Master Servicer, Securities Administrator and Indenture Trustee shall provide access to the records and documentation in their possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the Note Insurer, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Master Servicer, Securities Administrator and Indenture Trustee, as the case may be; provided, however, that, unless otherwise required by law, the Master Servicer, Securities Administrator and Indenture Trustee shall not be required to provide access to such records and documentation to the Noteholders if the provision thereof would violate the legal right to privacy of any Mortgagor. The Master Servicer, Securities Administrator and Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Master Servicer, Securities Administrator and Indenture Trustee's ’s actual costs. The Trustee Indenture Trustee, at the request of the Servicers or Master Servicer, as applicable, shall execute and deliver to the related Servicer and Servicers or the Master Servicer Servicer, as the case may be, any court pleadings, requests for trustee's ’s sale or other documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Bear Stearns Second Lien Trust 2007-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer Servicers to the Distribution Account Protected Accounts pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each Servicer the Servicers and the Master Servicer with any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer the Servicers and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 11)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation obligations of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related ▇▇▇▇▇ Fargo Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related ▇▇▇▇▇ Fargo Servicing Agreement. The Master Servicer shall independently and separately monitor each the Servicer's ’s servicing activities with respect to each related the Mortgage LoanLoans, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's ’s and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.047.03 of the Indenture, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related ▇▇▇▇▇ Fargo Servicing Agreement. In addition to the foregoing, in connection with a modification of any Mortgage Loan by the Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of the Servicer’s failure to comply with the terms of the ▇▇▇▇▇ Fargo Servicing Agreement. If the ▇▇▇▇▇ Fargo Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the ▇▇▇▇▇ Fargo Servicing Agreement and that any conditions to such modification set forth in the ▇▇▇▇▇ Fargo Servicing Agreement have been satisfied. Furthermore, if the ▇▇▇▇▇ Fargo Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the ▇▇▇▇▇ Fargo Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the Servicer is not complying with such timeframes and/or other requirements. The Indenture Trustee shall furnish each the Servicer and the Master Servicer Servicer, upon written request from a servicing officer, with any powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Indenture Trustee shall not be liable for the Servicer’s or the Master Servicer’s use or misuse of such powers of attorney. The Indenture Trustee shall provide access to the records and documentation in possession of the Indenture Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the CertificateholdersNoteholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Indenture Trustee; provided, however, that, unless otherwise required by law, the Indenture Trustee shall not be required to provide access to such records and documentation to the Noteholders if the provision thereof would violate the legal right to privacy of any Mortgagor. The Indenture Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Indenture Trustee's ’s actual costs. The Indenture Trustee shall execute and deliver to the related Servicer and or the Master Servicer Servicer, as applicable based on the requesting party, any court pleadings, requests for trustee's ’s sale or other appropriate documents necessary or reasonably desirable to (i) effect the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) take any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Bear Stearns ARM Trust 2006-1)
Master Servicer. The Master Servicer shall, from and after beginning on the Closing Date, supervise, monitor and oversee the obligation of the Company and the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of this Agreement and the related Servicing Agreement Agreement, respectively and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administrationservicing. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer the Company and the Servicers as necessary from time-to-time to carry out the Master Servicer's ’s obligations hereunder, shall receive, receive and review and evaluate all certain reports, information and other data provided to the Master Servicer by each Servicer the Company and the Servicers and shall cause each Servicer enforce the obligations, conditions and covenants of the Company and Servicers to perform the extent set forth in this Agreement and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related Servicing Agreement, respectively. The Master Servicer shall independently monitor the Company and separately monitor each Servicer's the Servicers’ servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided described in the previous sentence and received by the Master Servicer on a monthly basis and coordinate corrective adjustments to the related Servicer's Company’s, the Servicers’ and Master Servicer's ’s records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, 6.06 and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Company and the Servicers pursuant to this Agreement and the applicable Servicing Agreement, respectively. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by the Company and the Servicers and shall have no liability for any errors in such Mortgage Loan data. In addition to the foregoing, in connection with a modification of any Mortgage Loan by a Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of such Servicer’s failure to comply with the terms of the Servicing Agreement or this Agreement. If the Servicing Agreement or this Agreement (in the case of the Company, as Servicer) requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the related Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement or this Agreement (in the case of the Company, as Servicer) and that any conditions to such modification set forth in the Distribution Account pursuant Servicing Agreement or this Agreement have been satisfied. Furthermore, if the Servicing Agreement or this Agreement (in the case of the Company, as Servicer) requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the related Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement. The Trustee shall furnish each Servicer Agreement or this Agreement (in the case of the Company, as Servicer), and the Master Servicer with shall notify the Depositor in any powers of attorney, case in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and which the Master Servicer to service and administer believes that the related Mortgage Loans and REO PropertyServicer is not complying with such timeframes and/or other requirements. The Master Servicer, the Trustee or the related Custodian on its behalf and the Securities Administrator shall provide access to the records and documentation in possession of the Master Servicer, the Trustee or the related Custodian on its behalf or the Securities Administrator regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Master Servicer, the Trustee, the Custodians or the Securities Administrator; provided, however, that, unless otherwise required by law, neither the Trustee Master Servicer, the Trustee, the Custodians nor the Securities Administrator shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Master Servicer, the Trustee, the Custodians and the Securities Administrator shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Master Servicer’s, the Trustee's ’s, the Custodians’ or the Securities Administrator’s actual costs. The Trustee shall execute and deliver to the related Company, each Servicer and or the Master Servicer Servicer, as applicable, any court pleadings, requests for trustee's ’s sale or other documents necessary or desirable to (i) the foreclosure or trustee's ’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrumentsecurity instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument security instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (SACO I Trust 2007-1)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the related applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the related applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's Servicers' and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.044.02, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the 109 actual remittances of the related Servicer Servicers to the Distribution Master Servicer Custodial Account pursuant to the related applicable Servicing AgreementAgreements. The Trustee shall furnish each If the Master Servicer and the Master Servicer with Securities Administrator are the same entity, then at any powers of attorney, in substantially the form attached hereto as Exhibit K, and other documents in form as provided to it necessary or appropriate to enable such Servicer and time the Master Servicer to service and administer the related Mortgage Loans and REO Property. The Trustee shall provide access to the records and documentation in possession of the Trustee regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholdersis terminated as Master Servicer, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Trustee; provided, however, that, unless otherwise required by law, the Trustee Securities Administrator shall not likewise be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equityremoved as securities administrator.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series MLCC 2006-2)
Master Servicer. The Master Servicer shall, from and after the Closing Date, shall supervise, monitor and oversee the obligation of the Servicers Servicer to service and administer their respective the Mortgage Loans in accordance with the terms of the related Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with each the Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each the Servicer and shall cause each the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such the Servicer under the related Servicing this Agreement. The Master Servicer shall independently and separately monitor each the Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the related Servicer's and Master Servicer's records, and based on such reconciled and corrected information, the Master Servicer shall provide such information to the Securities Administrator as shall be necessary in order for it to prepare the statements specified in Section 6.04, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the related Servicer to the Distribution Account pursuant to the related Servicing Agreementterms hereof based on information provided to the Master Servicer by the Trust Administrator pursuant to the third paragraph of Section 8.01. The Trustee shall furnish each Servicer and the Master Servicer with any limited powers of attorney, in substantially the form attached hereto as Exhibit K, attorney and other documents in form as provided to it necessary or appropriate to enable such Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Propertyperform its master servicing obligations. The Trustee shall have no responsibility for any action of the Master Servicer pursuant to any such limited power of attorney and shall be indemnified by the Master Servicer, as applicable, for any cost, liability or expense incurred by the Trustee in connection with the Master Servicer's misuse of any such power of attorney. The Master Servicer shall provide access to the records and documentation in possession of the Trustee Master Servicer regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the TrusteeMaster Servicer; provided, however, that, unless otherwise required by law, the Trustee Master Servicer shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee Master Servicer shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the TrusteeMaster Servicer's actual costs. The Trustee shall execute and deliver to the related Servicer and the Master Servicer any court pleadings, requests for trustee's sale or other documents necessary or desirable to (i) the foreclosure or trustee's sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)