Payment of Servicing Fees. Subservicer shall remit to Principal all servicing fees collected on any Mortgage Loan no later than the second Business Day following the day on which such fees are received, net of amounts due Subservicer, if any, under Sections 3.3 or 3.4 and net of any guarantee fee. Subservicer shall provide to Principal a daily statement of the servicing fees collected on the Mortgage Loans based on the Mortgagor payments received by Subservicer. No later than the fifth Business Day after the applicable Investor cut-off date of each month Subservicer shall provide a statement setting forth in reasonable detail the prior month's servicing fees.
Appears in 1 contract
Sources: Subservicing and Transition Services Agreement (Lomas Financial Corp)
Payment of Servicing Fees. Subservicer shall remit to Principal all servicing fees collected on any Mortgage Loan no later than the second Business Day following the day on which such fees are received, net of amounts due Subservicer, if any, under Sections 3.3 or 3.4 and net of any guarantee fee. Subservicer shall provide to Principal a daily statement of the servicing fees collected on the Mortgage Loans based on the Mortgagor payments received by Subservicer. No later than the fifth Business Day after the applicable Investor cut-off date of each month Subservicer shall provide a statement setting forth in reasonable detail the prior month's servicing fees.statement
Appears in 1 contract
Sources: Subservicing and Transition Services Agreement (Lomas Financial Corp)