Recourse Servicing Clause Samples

Recourse Servicing. The Borrower does not have any Recourse Servicing.

Recourse Servicing. Permit the aggregate principal balance of Mortgage Loans covered by Recourse Servicing at any time after the date hereof to exceed (i) $2,350,000,000 less (ii) all reductions in the aggregate principal balance of such Mortgage Loans covered by Recourse Servicing as of March 31, 1998, whether by reason of prepayment or amortization from and after April 1, 1998.

Recourse Servicing. The Borrower will not at any time acquire or create any Recourse Servicing beyond the Recourse Servicing held by the Company on the Effective Date.

Recourse Servicing. 54 8.11 Liens......................................................... 54 8.12

Recourse Servicing. 55 6.20 Federal Agency Approvals............................................................................ 55 6.21 Approved Investor Commitments....................................................................... 55 6.22 Negative Pledges.................................................................................... 55 6.23 Keeping of Records and Books of Account............................................................. 55 6.24 Hedging Program..................................................................................... 55 6.25

Recourse Servicing. 85 8.11 Liens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 8.12

Recourse Servicing. Permit the aggregate unpaid principal amount of Mortgage Loans included in the Servicing Portfolio for which the Borrower has Recourse Direct Servicing Rights to exceed one percent (1%) of the aggregate unpaid principal amount of all Mortgage Loans included in the Servicing Portfolio.

Recourse Servicing. Permit the principal balance of Mortgage Loans covered by Recourse Servicing to exceed the sum of (A) the aggregate principal balance of all Mortgage Loans covered by Recourse Servicing owned by the Company as of March 31, 1997 plus (B) the aggregate principal balance of all Mortgage Loans covered by Recourse Servicing acquired by the Company from and after April 1, 1997 as a part of one or more larger acquisitions of Servicing Agreements, provided that the aggregate principal balance of Mortgage Loans covered by Recourse Servicing acquired in all acquisitions after April 1, 1997 shall not exceed the lesser of (i) $100,000,000 or (ii) 10% of the principal balance of all Mortgage Loans covered by the Servicing Agreements acquired in all such acquisitions less (C) all reductions in such aggregate principal balances, whether by reason of prepayment or amortization from and after April 1, 1997 (or the date of later acquisition, as the case may be) and less (D) the aggregate principal balance of any Mortgage Loans covered by any such Recourse Servicing sold by the Company after March 31, 1997.

Recourse Servicing. Neither the Borrower nor any Borrowing Subsidiary will at any time have any Recourse Servicing.