Common use of Servicing Standard Clause in Contracts

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities Insurer, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments Notes and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.023.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the manner in which prudent servicers service FHA Title I home improvement loans and which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicersinstitutions, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b2.04(c) or any FHA Loans pursuant to Section 4.12(b3.12(b); (iii) the ownership of any Securities Certificate by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a3.08(a), to make Foreclosure Advances pursuant to Section 4.08(b3.08(b), or repurchase any FHA Loans pursuant to Section 4.123.12; or (v) the Master Servicer's right to receive compensation for its services as provided in hereunder pursuant to Section 5.01(c)(i)(b)4.05. The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities Certificate Insurer, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 51 57 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) Nothing in this Agreement shall preclude the Master Servicer, in its individual capacity, from entering into other mortgage loans or other financial transactions with any Obligor or from refinancing any Loan. (e) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, Agreement and the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicersinstitutions, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b)3.05; (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), ) or to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b5.01(c)(i)(a). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities InsurerTrustee, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in 52 favor of the Master Servicer or Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in shall take such capacity shall manage, service, administer and make collections on the Home Loans, actions and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel duties in connection with the performance of any of its obligations hereunder servicing, administration, management and instigating litigation to enforce any obligation of any Obligor, without the consent or approval disposition of the Indenture Trustee or Loans and Underlying Collateral as are set forth on Schedule 3, as the Securities Insurer, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause same may be amended from time to time by the Custodian to execute Manager and return to the Master Servicer or the Servicer designated (the “Servicing Obligations”). The Servicer shall perform its Servicing Obligations (i) in a written instruction from the Master Servicer to best interests and for the Indenture Trustee, within 5 days benefit of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain Company, (ii) in accordance with the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor terms of the Servicer with respect to any modificationLoans (and related Loan Documents), waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all (iii) in accordance with the terms of this Agreement (including this Article II), (iv) in accordance with all applicable Law, (v) subject to Section 5.7, in accordance with the requirements of the LLC Operating Agreement. , the Custodial and Paying Agency Agreement and the other Ancillary Documents, and (vi) to the extent consistent with the foregoing terms, in the same manner in which a prudent servicer would service and administer similar loans and in which a prudent servicer would manage and administer similar properties for its own portfolio or for other Persons, whichever standard is higher, but using no less care and diligence than would be customarily employed by a prudent servicer following customary and usual standards of practice of prudent mortgage lenders, loan servicers and asset managers servicing, managing and administering similar loans and properties on an arms’ length basis, provided that, with respect to each Loan and related Underlying Collateral, in the absence of a customary and usual standard of practice, the Servicer shall comply with the applicable ▇▇▇▇▇▇ Mae Guidelines, if any, with respect to similar loans or properties in similar situations (the requirements in clauses (i) through (vii) collectively, the “Servicing Standard”). In addition, the Servicer shall perform its Servicing Obligations without regard to (a) any relationship that the Servicer, the Company, the Manager or any Subservicer or any of their respective Affiliates may have to any Borrower or Obligor or any of their respective Affiliates, including any other banking or lending relationship and any other relationship described in Section 5.1(h), (b) the Company’s, the Manager’s, the Servicer’s or any Subservicer’s obligation to make disbursements and advances with respect to the Loans and the Underlying Collateral, (c) The Indenture Trustee shall cause any relationship that the Custodian to furnish the Master Servicer or Servicer within 5 days any Subservicer may have to each other or to the Company, the Manager or any of request their respective Affiliates, or any relationship that any of a Master Servicing Officer therefor their respective Affiliates may have to the Company, the Manager or any powers of attorney their respective Affiliates (other than the contractual relationship evidenced by this Agreement or any Subservicing Agreement), and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of Servicer’s or any Subservicer’s right to receive compensation (including the Servicing Fee) for its services under this Agreement or any Subservicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the manner in which prudent servicers service FHA Title I home improvement loans and which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicersinstitutions, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities Insurer, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in such capacity shall manage, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, Agreement and the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicersinstitutions, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b)3.05; (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), ) or to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b5.01(c)(i)(a). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities InsurerTrustee, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Master Servicer or Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in shall take such capacity shall manage, service, administer and make collections on the Home Loans, actions and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel duties in connection with the performance of any of its obligations hereunder servicing, administration, management and instigating litigation to enforce any obligation of any Obligor, without the consent or approval disposition of the Indenture Trustee or Mortgage Loans and Underlying Collateral as are set forth on Schedule 2, as the Securities Insurer, unless any such consent or approval is expressly required hereunder or under applicable law. (b) The Indenture Trustee shall cause same may be amended from time to time by the Custodian to execute Manager and return to the Master Servicer or the Servicer designated (the “Servicing Obligations”). The Servicer shall perform its Servicing Obligations (i) in a written instruction from the Master Servicer to best interests and for the Indenture Trustee, within 5 days benefit of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain Company, (ii) in accordance with the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor terms of the Servicer with respect to any modificationMortgage Loans (and related Mortgage Loan Documents), waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all (iii) in accordance with the terms of this Agreement (including this Article II), (iv) in accordance with all applicable Law, including but not limited to, the Real Estate Settlement Procedures Act of 1974, as amended, and the Helping Families Save Their Homes Act of 2009, as amended, (v) subject to Section 5.7, in accordance with the requirements of the LLC Operating Agreement. , the Custodial and Paying Agency Agreement and the other Ancillary Documents, (vi) with respect to all Mortgage Loans, in compliance with the Guidelines and the Loan Modification Program and (vii) to the extent consistent with the foregoing terms, in the same manner in which a prudent servicer would service and administer similar loans and in which a prudent servicer would manage and administer similar properties for its own portfolio or for other Persons, whichever standard is higher, but using no less care and diligence than would be customarily employed by a prudent servicer following customary and usual standards of practice of prudent mortgage lenders, loan servicers and asset managers servicing, managing and administering similar loans and properties on an arms’ length basis, provided that, with respect to each Mortgage Loan and related Underlying Collateral, in the absence of a customary and usual standard of practice, the Servicer shall comply with the applicable ▇▇▇▇▇▇ ▇▇▇ Guidelines, if any, with respect to similar loans or properties in similar situations (the requirements in clauses (i) through (vii) collectively, the “Servicing Standard”). In addition, the Servicer shall perform its Servicing Obligations without regard to (a) any relationship that the Servicer, the Company, the Manager or any Subservicer or any of their respective Affiliates may have to any Borrower or Obligor or any of their respective Affiliates, including any other banking or lending relationship and any other relationship described in Section 5.1(h), (b) the Company’s, the Manager’s, the Servicer’s or any Subservicer’s obligation to make disbursements and advances with respect to the Mortgage Loans and the Underlying Collateral, (c) The Indenture Trustee shall cause any relationship that the Custodian to furnish the Master Servicer or Servicer within 5 days any Subservicer may have to each other or to the Company, the Manager or any of request their respective Affiliates, or any relationship that any of a Master Servicing Officer therefor their respective Affiliates may have to the Company, the Manager or any powers of attorney their respective Affiliates (other than the contractual relationship evidenced by this Agreement or any Subservicing Agreement), and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of Servicer’s or any Subservicer’s right to receive compensation (including the Servicing Fee) for its services under this Agreement or any Subservicing Agreement.

Servicing Standard. (a) The Master Servicer, as an independent contractor, ------------------ shall service and administer the Home Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Servicer is hereby authorized may deem necessary or desirable and consistent with the terms of this Agreement. Notwithstanding anything to act as agent for the Trust contrary contained herein, the Servicer, in servicing and in such capacity shall manage, service, administer and make collections on administering the Home Loans, shall employ or cause to be employed procedures (including collection, foreclosure, liquidation and perform Foreclosure Property management and liquidation procedures) and exercise the other actions required by same care that it customarily employs and exercises in servicing and administering loans of the Master same type as the Home Loans for its own account, all in accordance with Accepted Servicing Procedures of prudent lending institutions and servicers of loans of the same type as the Home Loans and giving due consideration to the Certificateholders' reliance on the Servicer. The Servicer under has and shall maintain the facilities, procedures and experienced personnel necessary to comply with the servicing standard set forth in this Agreementsubsection (a) and the duties of the Servicer set forth in this Agreement relating to the servicing and administration of the Home Loans. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer Subservicer as provided in Section 4.024.07, ------------ subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the manner in which prudent servicers service FHA Title I home improvement loans and which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities Insurer, unless any such consent or approval is expressly required hereunder or under applicable lawinstitutions. (b) The Indenture Trustee shall cause the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereof, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all in accordance with the terms of this Agreement. (c) The Indenture Trustee shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor any powers of attorney and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of the Servicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for the Trust and in shall take such capacity shall manage, service, administer and make collections on the Home Loans, actions and perform the other actions required by the Master Servicer under this Agreement. In performing its obligations hereunder the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authority, acting alone and/or through the Servicer as provided in Section 4.02, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: (i) any relationship that the Master Servicer, the Servicer or any affiliate of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel duties in connection with the performance servicing, administration, management and disposition of any of its obligations hereunder the Loans and instigating litigation Collateral as are set forth on Schedule 2, as the same may be amended from time to enforce any obligation of any Obligor, time by the Company and the Servicer without the Participant’s consent or approval (the “Servicing Obligations”). The Servicer shall perform its Servicing Obligations (i) in the best interests and for the benefit of the Indenture Trustee or Participant and the Securities InsurerCompany, unless any such consent or approval is expressly required hereunder or under applicable law. (bii) The Indenture Trustee shall cause in accordance with the Custodian to execute and return to the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days terms of the Indenture Trustee's receipt any Loans (and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property or any portion thereofLoan Documents), and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Home Loans and with respect to the related Mortgaged Properties prepared and delivered to the Indenture Trustee by the Master Servicer or any Servicer, all (iii) in accordance with the terms of this Agreement. Agreement (including this Article II), (iv) in accordance with all applicable Law, (v) with respect to all Loans, in compliance with the Statement on Loss Mitigation Strategies for Servicers of Residential Mortgages (September 2007), issued by the federal financial institutions regulatory agencies and the Conference of State Bank Supervisors, and the Statement on Working with Mortgage Borrowers (April 2007), issued by the federal financial institutions regulatory agencies, as the same may be amended, supplemented or modified from time to time (collectively, the “Guidelines”), to the extent applicable, and, (vi) to the extent consistent with the foregoing terms, in the same manner in which a prudent servicer would service and administer similar loans and in which a prudent servicer would manage and administer similar properties for its own portfolio or for other Persons, whichever standard is higher, but using no less care and diligence than would be customarily employed by a prudent servicer following customary and usual standards of practice of prudent mortgage lenders, loan servicers and asset managers servicing, managing and administering similar loans and properties on an arms’ length basis, provided that in the absence of a customary and usual standard of practice, the Servicer shall comply with the ▇▇▇▇▇▇ ▇▇▇ Guidelines applicable to similar loans or properties in similar situations (the requirements in clauses (i) through (vi) collectively, the “Servicing Standard”). In addition, the Servicer shall perform its Servicing Obligations without regard to (a) any relationship that the Servicer, the Company or any Subservicer or any of their respective Affiliates may have to any Borrower, Guarantor or other obligor or any of their respective Affiliates, including any other banking or lending relationship, (b) the Company’s, the Servicer’s, or any Subservicer’s, obligation to make disbursements and advances with respect to the Loans and the Collateral, (c) The Indenture Trustee shall cause any relationship that the Custodian to furnish the Master Servicer or Servicer within 5 days any Subservicer may have to each other or to the Company or any of request its Affiliates, or any relationship that any of a Master Servicing Officer therefor their respective Affiliates may have to the Company or any powers of attorney its Affiliates (other than the contractual relationship evidenced by this Agreement or any Subservicing Agreement), and other documents necessary and appropriate to carry out its servicing and administrative duties hereunder, including any documents or powers of attorney necessary to foreclose any Home Loan. The forms of any such powers or documents shall be appended to such requests. (d) The Servicer hereby incorporates by reference the representations, warranties and covenants made by it in Section 2.02 of Servicer’s or any Subservicer’s right to receive compensation (including the Servicing Fee) for its services under this Agreement or any Subservicing Agreement.

Servicing Standard. (a) The Master Servicer is hereby authorized to act as agent for For and on behalf of the Trust Trustee and in such capacity shall managethe Certificateholders, service, administer and make collections on the Home Loans, and perform the other actions required by the Master Servicer under shall service and administer the Mortgage Loans in accordance with prudent mortgage loan servicing standards and procedures generally accepted in the mortgage banking industry and generally in a manner consistent with ▇▇▇▇▇▇ ▇▇▇ guidelines except as otherwise expressly provided in this Agreement. In performing its obligations hereunder connection with such servicing and administration, the Master Servicer shall at all times act in good faith in a commercially reasonable manner in accordance with all requirements of the FHA applicable to the servicing of the FHA Loans and otherwise in accordance with applicable law and the Debt Instruments and Mortgages. The Master Servicer shall at all times service and administer the FHA Loans in accordance with Title I, and shall have full power and authorityServicer, acting alone and/or through the any Sub-Servicer as provided in Section 4.023.02 hereof, shall have the power and authority, subject only to this Agreement, the respective Home Loans, and, in the case of the FHA Loans, the specific requirements and prohibitions of Title I, to do any and all things in connection with such servicing and administration which are consistent with the ordinary practices of prudent mortgage lending institutions and, in the case of the FHA Loans, prudent FHA Title I home improvement loan servicers, but without regard to: terms hereof (i) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents (including, without limitation, estoppel certificates), (ii) to consent to transfers of any relationship Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (iii) to collect any Insurance Proceeds and Liquidation Proceeds, (iv) to consent to any subordinate financings to be secured by any Mortgaged Property to the extent that such consent is required pursuant to the terms of the related Mortgage, (v) to consent to the application of any proceeds of insurance policies or condemnation awards to the restoration of the applicable Mortgaged Property or otherwise, and (vi) subject to the provisions of Section 3.07 and 3.13, to effectuate foreclosure or other conversion of the ownership of the Mortgage Property securing any Mortgage Loan; provided, however, that the Master Servicer, Servicer shall take no action that is materially inconsistent with or materially prejudices the Servicer or any affiliate interest of the Master Servicer or any Servicer may have with the related Obligor: (ii) Mego's obligations to repurchase or substitute for a Defective Home Loan pursuant to Section 3.05(b) or any FHA Loans pursuant to Section 4.12(b); (iii) the ownership of any Securities by the Master Servicer or any affiliate of the Master Servicer; (iv) the Master Servicer's obligation to make Interest Advances pursuant to Section 4.08(a), to make Foreclosure Advances pursuant to Section 4.08(b), or repurchase any FHA Loans pursuant to Section 4.12; or (v) the Master Servicer's right to receive compensation for its services as provided in Section 5.01(c)(i)(b). The Master Servicer may take any action hereunder, including exercising any remedy under any Home Loan, retaining counsel in connection with the performance of any of its obligations hereunder and instigating litigation to enforce any obligation of any Obligor, without the consent or approval of the Indenture Trustee or the Securities InsurerCertificateholders in any Mortgage Loan or the rights and interest of the Seller, the Trustee and the Certificateholders under the terms of this Agreement unless any such consent or approval action is expressly required hereunder or under applicable lawspecifically called for by the terms hereof. (b) The Indenture Trustee shall cause Without limiting the Custodian generality of the foregoing, but subject to the terms hereof, the Master Servicer, in its own name or in the name of the Trustee, is hereby authorized and empowered by the Seller and the Trustee, when a prudent servicer of mortgage loans would so act under similar circumstances, to execute and return to deliver, on behalf of the Master Servicer or the Servicer designated in a written instruction from the Master Servicer to the Indenture Trustee, within 5 days of the Indenture Trustee's receipt any and all documents or instruments necessary to maintain the lien created by any Mortgage on the related Property Certificateholders or any portion thereofof them, and, within 5 days of request by the Master Servicer or the Servicer therefor a power of attorney in favor of the Servicer with respect to any modification, waiver, or amendment to any document contained in any Home Loan File and any and all instruments of satisfaction modification, satisfaction, cancellation or cancellationassignment, or of partial or full release or discharge, discharge and all other comparable instruments, with respect to the Home Loans Mortgage Loans, and with respect to the related Mortgaged Properties prepared and delivered to held for the Indenture Trustee by benefit of the Certificateholders. The Master Servicer or shall promptly notify the Trustee of any Servicer, all in accordance with such execution and delivery. The Trustee for the terms benefit of this Agreement. (c) The Indenture Trustee the Certificateholders shall cause the Custodian to furnish the Master Servicer or Servicer within 5 days of request of a Master Servicing Officer therefor execute any powers of attorney and other documents necessary and or appropriate to carry out its servicing enable the Master Servicer to service and administrative duties hereunderadminister the Mortgage Loans. (c) Notwithstanding anything in this Agreement to the contrary, the Master Servicer shall not (unless the Mortgagor is in default with respect to the Mortgage Loan or such default is, in the judgment of the Master Servicer, imminent) permit any modification with respect to any Mortgage Loan (i) that would change the Net Mortgage Rate or, reduce or increase the principal balance (except for increases resulting from the addition of Deferred Interest and reductions resulting from actual payments of principal) or (ii) that would both constitute a sale or exchange of such Mortgage 44 Loan within the meaning of Section 1001 of the Code (including any documents proposed, temporary or powers final regulations promulgated thereunder) (other than in connection with a proposed conveyance or assumption of attorney necessary such Mortgage Loan that is a Principal Prepayment made (or treated as made) by the Mortgagor of the entire principal balance of a Mortgage Loan) and cause the Trust Fund to foreclose any Home Loan. The forms of any such powers or documents shall be appended fail to such requestsqualify as a REMIC under the Code. (d) If an Index of One-Year MTA is not available with respect to any Mortgage Loan, the Master Servicer will select an alternative Index which is based on comparable information. In such event, the Master Servicer will also determine a new Gross Margin. The Servicer hereby incorporates by reference new Gross Margin will be the representations, warranties and covenants made by it in Section 2.02 difference between the average of the Servicing Agreementlast available Index for the most recent three-year period which ends on the last date the last available Index was available plus the Gross Margin on the last date the last available Index was available and the average of the new Index for the most recent three year period which ends on that date (or, if not available for such three-year period, for such time as it is available), rounded as provided in the Mortgage Note.