Common use of Regulatory Approvals and Licensing Clause in Contracts

Regulatory Approvals and Licensing. The Servicer must be: (a) FNMA or FHLMC approved and in good standing; (b) a HUD approved mortgagee in good standing; (c) in compliance with all applicable capital requirements and other requirements from time to time specified by any governmental agency or quasi-governmental authority having jurisdiction over the Servicer; and (d) properly licensed to service the Mortgage Loans in all relevant jurisdictions where such licenses are required.