Common use of Subservicing Agreements Between Servicer and Subservicers Clause in Contracts

Subservicing Agreements Between Servicer and Subservicers. Enforcement of Subservicers' and Seller's Obligations The Servicer may enter into Subservicing Agreements with Subservicers, for the servicing and administration of all or some of the Mortgage Loans. Any Subservicer of a Mortgage Loan insured by the FHA must be an FHA- approved servicer and any Subservicer of a Mortgage Loan guaranteed by the VA must be a VA- approved servicer. Each Subservicer of a Mortgage Loan shall be entitled to receive and retain, as provided in the related Subservicing Agreement and in Section 3.07, the related Subservicing Fee from payments of interest received on such Mortgage Loan after payment of all amounts required to be remitted to the Servicer in respect of such Mortgage Loan. Any Subservicing Fee shall be paid by the Servicer out of the Servicing Fee for the related Mortgage Loans. Unless the context otherwise requires, references in this Agreement to actions taken or to be taken by the Servicer in servicing the Mortgage Loans include actions taken or to be taken by a Subservicer on behalf of the Servicer.

Subservicing Agreements Between Servicer and Subservicers. Enforcement of Subservicers' and Seller's Sellers' Obligations The Servicer may enter into Subservicing Agreements with Subservicers, for the servicing and administration of all or some of the Mortgage Loans. Any Subservicer of a Mortgage Loan insured by the FHA must be an FHA- approved servicer and any Subservicer of a Mortgage Loan guaranteed by the VA must be a VA- approved servicer. Each Subservicer of a Mortgage Loan shall be entitled to receive and retain, as provided in the related Subservicing Agreement and in Section 3.07, the related Subservicing Fee from payments of interest received on such Mortgage Loan after payment of all amounts required to be remitted to the Servicer in respect of such Mortgage Loan. Any Subservicing Fee shall be paid by the Servicer out of the Servicing Fee for the related Mortgage Loans. Unless the context otherwise requires, references in this Agreement to actions taken or to be taken by the Servicer in servicing the Mortgage Loans include actions taken or to be taken by a Subservicer on behalf of the Servicer.