Mortgage Servicing Sample Clauses

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Mortgage Servicing. To the extent requested to do so by INB for any particular mortgage, ICNY shall act as mortgage-servicing agent for specified mortgages (the "Mortgage Servicing Services"). The Mortgage Servicing Services shall include the collection of mortgages receivable, the payment of mortgages payable, the payment of property taxes, insurance premiums and other impositions for the mortgaged premises. ICNY agrees to perform all services as may be reasonably requested by INB hereunder and as may be mutually agreed by the parties to the best of its abilities and within reasonable time periods, and shall allocate sufficient time and resources to this end. Notwithstanding the foregoing, ICNY provides no warranties or guaranty of results with respect to any of its services, which may be performed under this Agreement.
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Mortgage Servicing. Inland Mortgage Servicing Corporation (“IMSC”) will service mortgages. IMSC will not be reimbursed for any expenses incurred in providing these services.
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Mortgage Servicing. The Vendor and the Corporation shall have entered into such mortgage servicing agreement or agreements, in a form mutually satisfactory to the Vendor and Purchaser (each acting in a commercially reasonable manner), as would be necessary to allow for the Vendor to continue to service the Vendor’s mortgages that are held by the Corporation, with such agreement or agreements providing, among other things, that (a) the Vendor shall be the only servicer for the implicated mortgages, (b) the Corporation shall be prohibited from sharing, selling or utilizing customer data pertaining to the mortgages except as provided therein or required by Applicable Law, (c) the fees to be charged thereunder shall be on prevailing market terms typically governing similar arrangements between similar parties, having regard to geography, volume, and other considerations, and (d) the Corporation shall be prohibited from transferring, selling or disposing of the mortgages in any manner without allowing the Vendor 30 days to exercise a right of first refusal with respect thereto, provided that, in the event the Vendor exercises its right of first refusal, the Vendor shall in good faith pay to the Purchaser the fair market value of the applicable mortgages, even if the value to be received by the Purchaser upon transferring, selling or disposing of such mortgages to the potential third party purchaser would have been less than the fair market value of such mortgages; provided further that, in the event that the Parties cannot agree upon the fair market value of such mortgages, the Parties will refer the determination of such fair market value to a third party valuator.
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Mortgage Servicing. The Disclosure Schedule lists all mortgage loan servicing agreements and pooling and servicing agreements to which any Subsidiary is a party (the "Mortgage Servicing Agreements"). The Mortgage Servicing Agreements and the Regulations set forth all the terms and conditions of each Subsidiary's rights against and obligations to the other parties to such Mortgage Servicing Agreements with respect to mortgage loans, and there are no written or oral agreements that modify or amend any such Mortgage Servicing Agreement. All of the Mortgage Servicing Agreements are valid and binding contracts of the applicable Subsidiary, are in full force and effect, and are enforceable in accordance with their terms, except as enforcement thereof may be limited by general principles of equity (whether applied in a court of law or a court of equity) and by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors' rights and remedies generally. There is no default or breach under, or dispute regarding the material terms of, or claim of default or breach by any party under, any Mortgage Servicing Agreement, and no event has occurred which with the passage of time or the giving of notice of both would constitute a default or breach by any party under any such Mortgage Servicing Agreement or would permit termination, modification or acceleration of any such Mortgage Servicing Agreement. There is no pending or overtly threatened cancellation of any Mortgage Servicing Agreement, and the Company has not received indication that any party intends to terminate or is considering terminating its servicing relationship with any Subsidiary. No sanctions or penalties have been imposed on any Subsidiary under any Mortgage Servicing Agreement or any Regulation.
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Mortgage Servicing. To the extent requested to do so by INB for any ------------------- particular mortgage, IMC shall act as mortgage-servicing agent for specified mortgages (the "Mortgage Servicing Services"). The Mortgage Servicing Services shall include the collection of mortgages receivable, the payment of mortgages payable, the payment of property taxes, insurance premiums and other impositions for the mortgaged premises. IMC agrees to perform all services as may be reasonably requested by INB hereunder and as may be mutually agreed by the parties to the best of its abilities and within reasonable time periods, and shall allocate sufficient time and resources to this end. Notwithstanding the foregoing, IMC provides no warranties or guaranty of results with respect to any of its services, which may be performed under this Agreement.
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Mortgage Servicing. The servicing and collection of the Mortgage Loans has been performed using acceptable servicing practices and in all material respects in accordance with applicable laws and regulations.
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Mortgage Servicing. JALIC shall provide such servicing with respect to Mortgage Loans in which JALIC has acted as servicer immediately prior to the date hereof consistent and comparable with the servicing provided by JALIC with respect to such Mortgage Loans immediately prior to the date hereof. The Company and JALIC shall simultaneously herewith enter into an Interim Servicing Agreement regarding the servicing of mortgage loans.
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Mortgage Servicing. Inland Mortgage Servicing Corporation, or “IMSC,” will service mortgages for the Company, as requested by the Business Manager.
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Related to Mortgage Servicing

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

  • Mortgage Lessee does hereby agree to make reasonable modifications of this Lease requested by any Mortgagee of record from time to time, provided such modifications are not substantial and do not increase any of the Rents or obligations of Lessee under this Lease or substantially modify any of the business elements of this Lease.

  • MORTGAGE LOAN ORIGINATOR EDUCATION 1. Prior to the submission of a new application for any new mortgage loan originator license or, as applicable, the filing of a petition for the reinstatement of an MLO Activity Endorsement in any Participating State as provided for in Section II, Paragraph 2 of this Order, the Respondent will be required to complete the following mortgage loan originator education requirements: a. Twenty hours of NMLS approved PE, which shall consist of 14 hours of federal law curriculum, three hours of ethics curriculum, and three hours of non-traditional mortgage lending curriculum. None of these 20 hours of PE may be state-specific curriculum; and b. Eight hours of CE, which shall consist of four hours of federal law curriculum, two hours of ethics curriculum, and two hours of non-traditional mortgage lending curriculum. None of these eight hours of CE may be state-specific curriculum. 2. Respondent may not take any of the PE or CE provided for in Paragraph 1 of this Section in an online self-study format (“OSS”). 3. For a period three years from the Effective Date of this Order, Respondent shall be required to complete any additional required PE and/or CE in a format other than OSS.

  • Servicing The servicing and collection practices used by the Mortgage Loan Seller with respect to the Mortgage Loan have been, in all respects legal and have met with customary industry standards for servicing of commercial loans for conduit loan programs.

  • Mortgage Insurance If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects ▇▇▇▇▇▇▇▇’s obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower’s payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer’s risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer’s risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed “captive reinsurance.” Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has – if any – with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.