Common use of Servicer Eligibility Standards Clause in Contracts

Servicer Eligibility Standards. 24 4.1.1. Regulatory Approvals and Licensing..........................24 4.1.2. Net Worth and Portfolio Requirements........................24 4.1.3. Auditor's Opinion and Other Annual Reports..................24 4.1.4. Servicing Experience........................................26 4.1.5. Material Changes............................................26 Section 4.2 Errors and Omissions Insurance.................................27 4.2.1. E & O Requirement...........................................27 4.2.2. E & O Scope.................................................27 4.2.3. E & O Policy Maintenance....................................27 4.2.4. E & O Deductible............................................27 4.2.5. E & O Qualifications........................................27 4.2.6. Notice of Claim.............................................28 Section 4.3 Fidelity Bond Coverage.........................................28 4.3.1. Fidelity Bond Requirement...................................28

Servicer Eligibility Standards. 24 4.1.1. Regulatory Approvals and Licensing.....................................................24 4.1.2. Net Worth and Portfolio Requirements.................................................24 4.1.3. Auditor's Opinion and Other Annual Reports.....................................24 4.1.4. Reports from Affiliates and Third Parties....................27 4.1.5. Servicing Experience........................................26 4.1.5.........................................27 4.1.6. Material Changes............................................26 .............................................27 Section 4.2 Errors and Omissions Insurance.................................27 ...............................28 4.2.1. E & O Requirement...........................................27 ............................................28 4.2.2. E & O Scope.................................................27 ..................................................28 4.2.3. E & O Policy Maintenance....................................27 .....................................28 4.2.4. E & O Deductible............................................27 .............................................28 4.2.5. E & O Qualifications........................................27 .........................................29 4.2.6. Notice of Claim.............................................28 Section 4.3 Fidelity Bond Coverage.........................................28 4.3.1. Fidelity Bond Requirement...................................28..............................................29