Common use of Servicing Transfer Date Clause in Contracts

Servicing Transfer Date. On the Servicing Transfer Date, the Seller shall comply with the Servicing Transfer Procedures and deliver to the Servicer the Mortgage File and any other Mortgage Loan documents or servicing-related documents in the Seller’s possession for each related Mortgage Loan. With respect to the mechanics of Mortgage Loan servicing transfer, to the extent any provision of this Agreement conflicts with any provision of the Servicing Transfer Procedures, the provisions set forth in this Agreement shall control. As further described in Section 4.08, any fees and expenses incurred by or on behalf of the Seller in transferring the Mortgage Files and such other documents to the Purchaser shall be the obligation of the Seller. With respect to each Mortgage Loan, the Seller shall cause all funds in any Escrow Account, Distribution Account or Collection Account to be transferred to the Purchaser no later than the fifth (5th) day following the Servicing Transfer Date. In addition to any documents and files to be delivered by the Seller to the Purchaser pursuant to the Servicing Transfer Procedures, no later than the Servicing Transfer Date or such other date specified, the Seller shall deliver to the Purchaser the following items or take the following actions, as applicable: (a) In the event that the Closing Date is delayed, the Purchaser shall service the Mortgage Loans on an interim basis as sub-servicer for the Seller in accordance with (i) a mutually satisfactory sub-servicing agreement, to be executed between the Seller and the Purchaser, which agreement shall include mutual indemnification provisions including, without limitation, in connection with such servicing, and (ii) the Servicing Requirements, including, among other things, the making of and reimbursement for any required Advances and Servicing Advances under such sub-servicing agreement; provided, however, that the Servicing Rights shall not be transferred to the Purchaser until the Closing Date, and unless until the Closing Date occurs, the Seller shall retain ownership of the Servicing Rights. In addition, during such servicing period, the Purchaser shall assume no liabilities with respect to the related Mortgage Loans other than those described in the sub-servicing agreement. If the Closing Date does not occur on or before November 15, 2007, the Purchaser shall cooperate with the Seller in taking all steps needed to allow the Seller or its designee to resume servicing of the Mortgage Loans in a timely manner, including, but not limited to, the transfer to the Seller of the Mortgage Files and other documents transferred to the Purchaser under Section 4.02 below, and the sending of “hello” and “goodbye” letters to the Borrowers. The Seller and the Purchaser acknowledge that until the earlier of the Closing Date or November 15, 2007, all funds received by the Seller in connection with the Mortgage Loans, including, but not limited to, tax, insurance, principal, interest and all other types of payments, including, without limitation, mortgage guaranty or mortgage insurance payments, insurance loss drafts and tax refunds, are to be immediately paid over to the Purchaser without offset or deduction. (b) At least five (5) days prior to the Servicing Transfer Date, the Seller shall have provided to the Purchaser records as may be reasonably requested by the Purchaser for the Purchaser to review the investor accounting status of the Mortgage Loans; such records shall include, but, shall not be limited to, the monthly Trustee remittance reports for at least the previous six (6) months. (c) The Seller shall have furnished the Purchaser with the following additional information and documents not later than the Servicing Transfer Date, except where otherwise specified: (1) A reconciliation of all Escrow Account balances and the remittance of the remaining balances held therein as soon as possible after the reconciliation has been completed, and in any event no later than five (5) Business Days after the Servicing Transfer Date; (2) The Mortgage File for each Mortgage Loan, including imaged versions of the documents therein, where available; (3) Trial balances and pool to investor security reconciliations for each Pool for each month for at least the last six months as reasonably available and to the extent reasonably necessary to and requested by the Purchaser, through the Servicing Transfer Date; (4) No later than thirty (30) days after the Servicing Transfer Date, complete principal and interest, tax, and insurance bank account reconciliations as of the Servicing Transfer Date; (5) The loan analysis (including tax and interest statement) for each Mortgage Loan to the extent such loan analysis is reasonably necessary to and requested by the Purchaser; (6) Foreclosure and bankruptcy files and collection records, including collection cards, default letters, demand letters, payment plans and other forbearance agreements, and property inspections for each Mortgage Loan as required by Servicing Requirements, which may be delivered in electronic format agreed to by the Seller and the Purchaser; (7) A copy of any available Custodial File certification executed by the related Trustee or Custodian on each Pool or, if such certification is not available, a status report on a loan-by-loan basis, listing such missing documentation; and (8) Information necessary in order to allow the Purchaser break out information relating to consumer purpose and business purpose Mortgage Loans as may be required by the Amended and Restated Securitization Agreements. (d) All records delivered or transferred to the Purchaser shall be organized by Pool and clearly identified in the Seller’s loan number order. All boxes shall be sequentially labeled and contain a complete listing of Mortgage Files therein. The Seller shall provide the Purchaser a summary schedule reflecting Mortgage Files therein and exceptions thereto and the Purchaser shall sign and return one copy of the summary schedule. (e) No later than five (5) Business Days after the Servicing Transfer Date, a copy of the Seller’s delinquency report showing the due date of the Monthly Payment and the paid-to date as of the Servicing Transfer Date. (f) No later than five (5) Business Days after the Servicing Transfer Date, a copy of loan payment history and escrow analysis for each Mortgage Loan in a format acceptable to the Purchaser. (g) No later than ten (10) Business Days after the Servicing Transfer Date, the Seller’s certification that either (1) with respect to Mortgage Loans as to which the Seller maintains escrows for such items, all Insurance Policy premiums have been paid on all Mortgaged Properties which premiums are due or will become due within thirty (30) days before or after the Servicing Transfer Date, as requested by the Purchaser or (2) the Seller has received no notice of delinquent premium payments. (h) At least fifteen (15) days prior to the Servicing Transfer Date, copies of notifications prepared by the Seller, in duplicate, addressed to each of the related insurance companies requesting endorsements to the mortgagee clause to the Purchaser. (i) On or before the Servicing Transfer Date, a list of all related Mortgage Loans that are on an automatic clearing house program, including loans number, withdrawal amount, withdrawal date, account number, and all other similar information. (j) On or before the Servicing Transfer Date, all unexpired payoff quotes including date of quote, amount of quote and all other relevant information. (k) On or before the Servicing Transfer Date, a list of all related Mortgage Loans with open or pending disputes, including loan number and all information in respect of such dispute.

Appears in 1 contract

Sources: Servicing Rights Transfer Agreement (Novastar Financial Inc)

Servicing Transfer Date. On With respect to each Mortgage Loan for which the related Servicing Transfer DateRights are to be transferred to the Purchaser hereunder, the Seller shall comply with the Servicing Transfer Procedures and deliver to the Servicer the Mortgage File and any other Mortgage Loan documents or servicing-related documents in the Seller’s 's possession for each related Mortgage LoanLoan on or prior to the Servicing Transfer Date. With respect to the mechanics of Mortgage Loan boarding and servicing transfer, to the extent any provision of this Agreement conflicts with any provision of the Servicing Transfer Procedures, the provisions set forth in this Agreement shall control. As further described in Section 4.08, any fees and expenses incurred by or on behalf of the Seller in transferring the Mortgage Files and such other documents to the Purchaser shall be the obligation of the Seller. With respect to each Mortgage Loan, the Seller shall cause all funds in any Escrow Account, Distribution Account or Collection Account to be transferred to the Purchaser no later than the fifth (5th) day following the Servicing Transfer Date. On or prior to boarding, the Seller shall provide written notice to the Purchaser identifying each Mortgage Loan which is not subject to a fully assignable life-of-loan tax service contract issued by a tax service contract provider listed on EXHIBIT 13 attached hereto. In the event that the Seller fails to provide such notice to the Purchaser or if any Mortgage Loan is not subject to a fully assignable life-of-loan tax service contract issued by a tax service contract provider listed on EXHIBIT 13 attached hereto which is assignable to the Purchaser or any subsequent servicer without the payment of any cost or fee, the Purchaser shall acquire a tax service contract for any such Mortgage Loan at a cost equal to no more than $71 per Mortgage Loan. The cost of obtaining such tax service contracts shall be deducted from amounts paid to the Seller by the Purchaser on the Closing Date or from the portion of the Purchase Price held in escrow pursuant to Section 2.02. In addition to any documents and files to be delivered by the Seller to the Purchaser pursuant to the Servicing Transfer Procedures, no later than the Servicing Transfer Date or such other date specified, the Seller shall deliver to the Purchaser the following items or take the following actions, as applicable: (a) In the event that the Closing Date is delayed, An acknowledgment reasonably acceptable to the Purchaser shall service the Mortgage Loans on an interim basis as of any sub-servicer for the Seller in accordance with (i) a mutually satisfactory sub-servicing agreement, to be executed between the Seller and the Purchaser, which agreement shall include mutual indemnification provisions including, without limitation, in connection with such servicing, and (ii) the Servicing Requirements, including, among other things, the making of and reimbursement for any required Advances and Servicing Advances under such sub-servicing agreement; provided, however, that the Servicing Rights shall not be transferred to the Purchaser until the Closing Date, and unless until the Closing Date occurs, the Seller shall retain ownership of the Servicing Rights. In addition, during such servicing period, the Purchaser shall assume no liabilities with respect to the related Mortgage Loans other than those described in the sub-servicing agreement. If the Closing Date does not occur on or before November 15, 2007, the Purchaser shall cooperate with the Seller in taking all steps needed to allow the Seller or its designee to resume servicing of the Mortgage Loans in a timely manner, including, but not limited to, the transfer to the Seller of the Mortgage Files and other documents transferred to the Purchaser under Section 4.02 below, and the sending of “hello” and “goodbye” letters to the Borrowers. The Seller and the Purchaser acknowledge that until the earlier of the Closing Date or November 15, 2007, all funds received by the Seller in connection with the Mortgage Loans, including, but not limited to, tax, insurance, principal, interest servicer has been terminated as servicer and all other types of payments, including, without limitation, mortgage guaranty or mortgage insurance payments, insurance loss drafts and tax refunds, costs associated with such termination have been paid with such exceptions as are to be immediately paid over to the Purchaser without offset or deductionotherwise permitted herein. (b) At The Seller shall provide to the Purchaser at least five fifteen (515) days prior to the Servicing Transfer Date, the Seller shall have provided to the Purchaser records as may be reasonably requested by the Purchaser for the Purchaser to review the investor accounting status of the Mortgage Loans; such records shall include, but, shall not be limited to, the monthly Trustee remittance reports for at least the previous six (6) months. (c) The Seller shall have furnished the Purchaser with the following additional information and documents not later than the Servicing Transfer Date, except where otherwise specified: (1) A reconciliation of The Seller shall reconcile all Escrow Account balances and the remittance of shall remit the remaining balances held therein as soon as possible after the a reconciliation has been completed, and in any event no later than five (5) Business Days after the Servicing Transfer Date; (2) The Mortgage File for each Mortgage Loan, including imaged versions of the documents therein, where available; (3) Trial balances and pool to investor security reconciliations for each Pool for each month for at least the last six months as reasonably available and to the extent reasonably necessary to and requested by the Purchaser, through the Servicing Transfer Date; (4) No later than thirty (30) days after the Servicing Transfer Date, complete Complete principal and interest, tax, and insurance bank account reconciliations as of the Servicing Transfer Date; (5) The loan analysis (including tax and interest statement) for each Mortgage Loan to the extent such loan analysis is reasonably necessary to and requested by the Purchaser; (6) Foreclosure and bankruptcy files and collection records, including collection cards, default letters, demand letters, payment plans and other forbearance agreements, and property inspections for each Mortgage Loan as required by Servicing Requirements, which may be delivered in electronic format agreed to by the Seller and the Purchaser; (7) A The Seller shall deliver to the Purchaser a copy of any available Custodial File certification executed by the related Trustee or Custodian on each Pool or, if such certification is not available, the Seller shall deliver to the Purchaser a status report on a loan-by-loan basis, listing such missing documentation; and (8) Information necessary in order The Seller shall provide to allow the Purchaser break out information relating necessary for the Purchaser to provide break-outs to consumer purpose and business purpose Mortgage Loans as may be required by the Amended and Restated Securitization Agreements. (d) All records delivered or transferred to the Purchaser shall be organized by Pool and clearly identified in the Seller’s 's loan number order. All boxes shall be sequentially labeled and contain a complete listing of Mortgage Files therein. The Seller shall provide the Purchaser a summary schedule reflecting Mortgage Files therein and exceptions thereto and the Purchaser shall sign and return one copy of the summary schedule. (e) No later than five (5) Business Days after the Servicing Transfer Date, a copy of the Seller’s 's delinquency report showing the due date of the Monthly Payment and the paid-to date as of the such Servicing Transfer Date. (f) No later than five (5) Business Days after the Servicing Transfer Date, a copy of loan payment history and escrow analysis for each Mortgage Loan in a format acceptable to the Purchaser. (g) No later than ten (10) Business Days after the Servicing Transfer Date, the Seller’s 's certification that either (1) with respect to Mortgage Loans as to which the Seller maintains escrows for such items, all Insurance Policy premiums have been paid on all Mortgaged Properties which premiums are due or will become due within thirty (30) days before or after the Servicing Transfer Date, as requested by the Purchaser or (2) the Seller has received no notice of delinquent premium payments. (h) At least fifteen (15) days prior to the Servicing Transfer Date, copies of notifications prepared by the Seller, in duplicate, addressed to each of the related insurance companies requesting endorsements to the mortgagee clause to the Purchaser. (i) On or before the Servicing Transfer Date, a list of all related Mortgage Loans that are on an automatic clearing house program, including loans number, withdrawal amount, withdrawal date, account number, and all other similar information. (j) On or before the related Servicing Transfer Date, all unexpired payoff quotes including date of quote, amount of quote and all other relevant information. (k) On or of before the related Servicing Transfer Date, a list of all related Mortgage Loans with open or pending disputes, including loan number and all information in respect of such dispute.

Appears in 1 contract

Sources: Servicing Rights Transfer Agreement (American Business Financial Services Inc /De/)

Servicing Transfer Date. On the Servicing Transfer Date, the (x) Seller shall comply with the Servicing Transfer Procedures and deliver cease to be the Servicer the Mortgage File and any other Mortgage Loan documents or servicing-related documents in the Seller’s possession for each related Mortgage Loan. With respect to the mechanics of Mortgage Loan servicing transfer, to the extent any provision of this Agreement conflicts with any provision of the Servicing Transfer Procedures, the provisions applicable Mortgage Loans as set forth in this Agreement on Schedule 3.02(a) and (y) the transfer of Servicing thereof to Purchaser shall control. As further described in Section 4.08, any fees occur on the books and expenses incurred by or on behalf records of the Seller in transferring the Mortgage Files and such other documents to the Purchaser shall be the obligation of the Seller. With respect to each Mortgage Loan, the Seller shall cause all funds in any Escrow Account, Distribution Account or Collection Account to be transferred to the Purchaser no later than the fifth (5th) day following the Servicing Transfer Date. In addition to any documents and files to be delivered by the Seller to the Purchaser pursuant to the Servicing Transfer Procedures, no later than the Servicing Transfer Date or such other date specified, the Seller shall deliver to the Purchaser the following items or take the following actions, as applicable: (a) In the event that the Closing Date is delayed, the Purchaser shall service the Mortgage Loans on an interim basis as sub-servicer for the Seller in accordance with (i) a mutually satisfactory sub-servicing agreement, to be executed between the Seller and the Purchaser, which agreement shall include mutual indemnification provisions including, without limitation, in connection with such servicing, and (ii) the Servicing Requirements, including, among other things, the making of and reimbursement for any required Advances and Servicing Advances under such sub-servicing agreementInvestor; provided, however, that in the Servicing Rights shall not be transferred to the Purchaser until the Closing Datecase of both clauses (x) and (y), and unless until the Closing Date occurs, the Seller shall retain ownership of the Servicing Rights. In addition, during such servicing period, the Purchaser shall assume no liabilities with respect to the related any Mortgage Loans other than those described in the sub-servicing agreement. If the Closing Date does not occur on or before November 15, 2007, the Purchaser shall cooperate with the Seller in taking all steps needed to allow the Seller or its designee to resume servicing of the Mortgage Loans in a timely manner, including, but not limited to, the transfer to the Seller of the Mortgage Files and other documents transferred to the Purchaser under Section 4.02 below, and the sending of “hello” and “goodbye” letters to the Borrowers. The Seller and the Purchaser acknowledge that until the earlier of the Closing Date or November 15, 2007, all funds received by the Seller in connection with the Mortgage Loans, including, but not limited to, tax, insurance, principal, interest and all other types of payments, including, without limitation, mortgage guaranty or mortgage insurance payments, insurance loss drafts and tax refunds, are to be immediately paid over to the Purchaser without offset or deduction. (b) At least five (5) days prior serviced pursuant to the Servicing Transfer DateAgreement, the Seller shall have provided only to the Purchaser records as may be reasonably requested by the Purchaser for the Purchaser to review the investor accounting status of the Mortgage Loans; such records shall include, but, shall not be limited to, the monthly Trustee remittance reports for at least the previous six (6) months. (c) The Seller shall have furnished the Purchaser with the following additional information and documents not later than extent that the Servicing Transfer Date, except where otherwise specified: Agreement Consent is in full force and effect on such date. Within three (1) A reconciliation of all Escrow Account balances and the remittance of the remaining balances held therein as soon as possible after the reconciliation has been completed, and in any event no later than five (53) Business Days after the Servicing Transfer Date; (2) The Mortgage File for each Mortgage LoanDate or such earlier period provided below, including imaged versions of the documents therein, where available; (3) Trial balances and pool to investor security reconciliations for each Pool for each month for at least the last six months as reasonably available and to the extent reasonably necessary to and requested by the Purchaser, through the Servicing Transfer Date; (4) No later than thirty (30) days after the Servicing Transfer Date, complete principal and interest, tax, and insurance bank account reconciliations as of the Servicing Transfer Date; (5) The loan analysis (including tax and interest statement) for each Mortgage Loan to the extent such loan analysis is reasonably necessary to and requested by the Purchaser; (6) Foreclosure and bankruptcy files and collection records, including collection cards, default letters, demand letters, payment plans and other forbearance agreements, and property inspections for each Mortgage Loan as required by Servicing Requirements, which may be delivered in electronic format agreed to by the Seller and the Purchaser; (7) A copy of any available Custodial File certification executed by the related Trustee or Custodian on each Pool or, if such certification is not available, a status report on a loan-by-loan basis, listing such missing documentation; and (8) Information necessary in order to allow the Purchaser break out information relating to consumer purpose and business purpose Mortgage Loans as may be required by the Amended and Restated Securitization Agreements. (d) All records delivered or transferred to the Purchaser shall be organized by Pool and clearly identified in the Seller’s loan number order. All boxes shall be sequentially labeled and contain a complete listing of Mortgage Files therein. The Seller shall provide the Purchaser a summary schedule reflecting Mortgage Files therein and exceptions thereto and the Purchaser shall sign and return one copy of the summary schedule.or cause to be provided to Purchaser, as applicable: (et) No later than five One or more readable tapes or electronic data files, in a form and content as mutually agreed, within two (52) Business Days after the Servicing Transfer Date, a copy of to allow Purchaser to service such Mortgage Loans in accordance with the Seller’s delinquency report showing the due date of the Monthly Payment and the paid-to date as of the Servicing Agreement following such Servicing Transfer Date.; (fu) No later than five (5) Business Days after All of the Credit and Servicing Files in the possession of Seller and sufficient to enable Purchaser to assume the responsibility for and to conduct the Servicing Transfer Date, a copy of loan payment history and escrow analysis for each Mortgage Loan in a format acceptable to the Purchaser. (g) No later than ten (10) Business Days after the Servicing Transfer Date, the Seller’s certification that either (1) with respect to such Mortgage Loans as to which in compliance with the Seller maintains escrows for Applicable Requirements in all material respects following such items, all Insurance Policy premiums have been paid on all Mortgaged Properties which premiums are due or will become due within thirty (30) days before or after the Servicing Transfer Date, as requested required by the Purchaser or (2) the Seller has received no notice of delinquent premium payments.Section 7.06; (hv) At least fifteen (15) days prior With respect to such Mortgage Loans, Seller’s accounting to Purchaser and reconciliation of all outstanding Advances, suspense, and partial and unapplied funds, all made in accordance with the Servicing Transfer DateAgreement, copies of notifications prepared by the Seller, in duplicate, addressed to each Applicable Requirements and the Interim Servicing Agreement; and (w) All of the Collateral Files related insurance companies requesting endorsements to the mortgagee clause to the Purchaser. (i) On or before the Servicing Transfer Date, a list of all related such Mortgage Loans that in the possession of Seller’s Custodian, other than Trailing Documents, which may be by internal delivery with the Custodian if Purchaser’s and Seller’s Custodian are on an automatic clearing house program, including loans number, withdrawal amount, withdrawal date, account number, and all other similar informationthe same entity. (j) On or before the Servicing Transfer Date, all unexpired payoff quotes including date of quote, amount of quote and all other relevant information. (k) On or before the Servicing Transfer Date, a list of all related Mortgage Loans with open or pending disputes, including loan number and all information in respect of such dispute.

Appears in 1 contract

Sources: Mortgage Servicing Rights Purchase and Sale Agreement (HomeStreet, Inc.)

Servicing Transfer Date. On the Servicing Transfer Date, the Seller shall comply with the Servicing Transfer Procedures and deliver to the Servicer Purchaser the Mortgage File Files and any other Mortgage Loan documents Documents or servicing-related documents in the Seller’s possession for each related Mortgage Loan. With respect to the mechanics of Mortgage Loan servicing transfer, to the extent any provision of this Agreement conflicts with any provision of the Servicing Transfer Procedures, the provisions set forth in this the Agreement shall control. As further described in Section 4.08, any fees and expenses incurred by or on behalf of the Seller in transferring the Mortgage Files and such other documents to the Purchaser shall be the obligation of the Seller. With respect to each Mortgage Loan, the Seller shall cause all funds in any Escrow Account, Distribution Account or Collection Clearing Account to be transferred to the Purchaser no later than the fifth second (5th2nd) day Business Day following the Servicing Transfer Date. Subject to the terms and conditions of this Agreement and unless another standard of effort is expressly set forth in this Agreement or in the Servicing Transfer Procedures, the parties shall cooperate in good faith with each other and use their respective commercially reasonable efforts to accomplish the transfer of the Servicing Rights in accordance with the Servicing Transfer Procedures on the Servicing Transfer Date. In addition to any documents and files to be delivered by the Seller to the Purchaser pursuant to the Servicing Transfer Procedures, no later than the Servicing Transfer Date or such other date specified, the Seller shall deliver to the Purchaser the following items or take the following actions, as applicable: (a) In Seller shall have paid, performed or discharged all of its liabilities and obligations accruing before the event Servicing Transfer Date relating to the Servicing Rights, including any repurchase and indemnity obligation pursuant to the applicable Third Party Servicing Agreement and/or Investor Guidelines, that the Closing Date is delayed, the Purchaser shall service the Mortgage Loans on an interim basis are unpaid or unfulfilled as sub-servicer of such date (except for the Seller in accordance with (i) a mutually satisfactory sub-servicing agreement, the Recourse Obligations with respect to be executed between the Seller and the Purchaser, which agreement shall include mutual indemnification provisions including, without limitation, in connection with such servicing, Tagged Loans and (ii) the Servicing Requirements, including, among other things, the making of and reimbursement for any required Advances and Servicing Advances under such sub-servicing agreement; provided, however, that the Servicing Rights shall not be transferred to the Purchaser until the Closing Date, and unless until the Closing Date occurs, the Seller shall retain ownership of the Servicing Rights. In addition, during such servicing period, the Purchaser shall assume no liabilities or obligations with respect to the related Mortgage Loans other than those described in the sub-servicing agreement. If the Closing Date does not occur payments to be made by a servicer on or before November 15behalf of Borrowers, 2007, the Purchaser shall cooperate with the Seller in taking all steps needed to allow the Seller or its designee to resume servicing of the Mortgage Loans in a timely manner, including, but not limited to, the transfer to the Seller of the Mortgage Files such as property taxes and other documents transferred to the Purchaser under Section 4.02 below, and the sending of “hello” and “goodbye” letters to the Borrowers. The Seller and the Purchaser acknowledge that until the earlier of the Closing Date or November 15, 2007, all funds received by the Seller in connection with the Mortgage Loans, including, but not limited to, tax, insurance, principal, interest that are not due and all other types of payments, including, without limitation, mortgage guaranty or mortgage insurance payments, insurance loss drafts and tax refunds, are to be immediately paid over to payable until after the Purchaser without offset or deductionServicing Transfer Date). (b) At least forty-five (545) days prior to the Servicing Transfer Date, the Seller shall have provided to the Purchaser records as may be reasonably requested by the Purchaser for the Purchaser to review the investor accounting status of the Mortgage Loans; such records shall include, but, shall not be limited to, the monthly Trustee Investor remittance reports for at least the previous six (6) months. (c) The Seller shall have furnished the Purchaser with the following additional information and documents not later than the Servicing Transfer Date, except where otherwise specified: (1) A reconciliation of all Escrow Account balances and the remittance of the remaining balances held therein as soon as possible after the reconciliation has been completed, and in any event no later than five (5) Business Days after the Servicing Transfer DateReserved; (2) The Mortgage File for each Mortgage Loan, including imaged versions of the documents therein, where availableReserved; (3) Trial balances and pool to investor security reconciliations for each Pool for each month for at least the last six (6) months as reasonably available and to the extent reasonably necessary to and requested by the Purchaser, through the Servicing Transfer Date; (4) No later than thirty fifteen (3015) days after the Servicing Transfer Date, complete principal and interest, property tax, and insurance bank account analysis and reconciliations as of the Servicing Transfer Date; (5) The loan analysis (including tax and interest statement) for each Mortgage Loan to the extent such loan analysis is reasonably necessary to and requested by the Purchaser; (6) Foreclosure and bankruptcy files and collection records, including collection cards, default letters, demand letters, payment plans and other forbearance agreements, and property inspections for each Mortgage Loan as required by Servicing Requirementsthe applicable Investor Guidelines, which may be delivered in electronic format agreed to by the Seller and the Purchaser; (7) A copy of any available Custodial File certification executed by the related Trustee or Custodian on each Pool or, if such certification is not available, a status report on a loan-by-loan basis, listing such missing documentation; (8) Reserved; (9) Seller shall have corrected any material errors or deficiencies in any of the Mortgage Loans or related loan documentation. This obligation will survive the Servicing Transfer Date and as such, Seller shall, after such date, at the request of Purchaser, make its best efforts and diligently pursue the correction of any material errors or deficiencies in any of the Mortgage Loans that remained in existence as of the Servicing Transfer Date. For purposes of this provision, “material” shall refer to errors or deficiencies which are required to be corrected by the Investors. Purchaser shall reasonably cooperate in good faith with Seller in connection with any such effort; and (8) Information necessary in order 10) On or before the Servicing Transfer Date, Seller shall correct and fund all cash and collateral deficiencies with respect to allow the Purchaser break out information relating to consumer purpose and business purpose Mortgage Loans custodial accounts as may be required by the Amended and Restated Securitization AgreementsServicing Requirements or Investors Guidelines, except to the extent such deficiencies constitute Advance Receivables. (d) All records delivered or transferred to the Purchaser shall be organized by Pool and clearly identified in the Seller’s loan number order. All boxes shall be sequentially labeled and contain a complete listing of Mortgage Files therein. The Seller shall provide the Purchaser a summary schedule reflecting Mortgage Files therein and exceptions thereto and the Purchaser shall sign and return one copy of the summary schedule. (e) No later than five (5) Business Days after the Servicing Transfer Date, a copy of the Seller’s delinquency report showing the due date of the Monthly Payment and the paid-to date as of the Servicing Transfer Date. (f) No later than five (5) Business Days after the Servicing Transfer Date, a copy of loan payment history and escrow analysis for each Mortgage Loan in a format acceptable to the PurchaserLoan. (g) No later than ten (10) Business Days after the Servicing Transfer Date, the Seller’s certification that either (1) with respect to Mortgage Loans as to which the Seller maintains escrows for such items, all Insurance Policy premiums have been paid on all Mortgaged Properties which premiums are due or will become due within thirty (30) days before or after the Servicing Transfer Date, as requested by the Purchaser or (2) the Seller has received no notice of delinquent premium payments. (h) At least fifteen (15) days prior to the Servicing Transfer Date, copies of notifications prepared by the Seller, in duplicate, addressed to each of the related insurance companies requesting endorsements to the mortgagee clause to the Purchaser. (i) On or before Fifteen (15) days prior to the Servicing Transfer Date, a preliminary list of all related Mortgage Loans that are on an automatic clearing house program, including loans including, loan number, withdrawal amount, withdrawal date, account number, and all other similar information. (j) On or before the Servicing Transfer Date; and, all unexpired payoff quotes including date of quote, amount of quote and all other relevant information. (k) On or before the at Servicing Transfer Date, a final list of all related Mortgage Loans with open or pending disputesthat are on an automatic clearing house program, including including, loan number number, withdrawal amount, withdrawal date, account number, and all information in respect other similar information, updated as of such disputeClosing Date.

Appears in 1 contract

Sources: Servicing Rights Purchase and Transfer Agreement (R&g Financial Corp)