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Accepted Servicing Practices. The collection and servicing practices used by the Servicer have been in all material respects legal and in accordance with the Mortgage Loan Documents and Accepted Servicing Practices. With respect to escrow deposits and payments that the Servicer collects, all such payments are in the possession of, or under the control of, the Servicer, and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected and are being maintained in full compliance with applicable state and federal law and the provisions of the related Mortgage Note and Mortgage. As to any Mortgage Loan that is the subject of an escrow, escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every escrowed item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or other charges or payments due under the Mortgage Note have been capitalized under any Mortgage or the related Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage Note. Any interest required to be paid pursuant to state and local law has been properly paid and credited.
Accepted Servicing Practices. The Servicer has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans and real estate of the same types as may from time to time constitute Mortgage Loans and Contributed Assets, as applicable, and in accordance with Accepted Servicing Practices.
Accepted Servicing Practices. Each Seller shall cause the servicing of the Purchased Loans to conform to Accepted Servicing Practices;
Accepted Servicing Practices. Sample Clauses 1 EXHIBIT 20 STATE OF NEW YORK DEPARTMENT OF FINANCIAL SERVICES BANKING DEPARTMENT AGREEMENT ON MORTGAGE SERVICING PRACTICES WHEREAS Ocwen Financial Corporation, the parent company ofOcwen Loan LLC (collectively "Ocwen"), a mortgage servicer regulated by the New York State Banking Department (the "Department") and headquartered at 0000 Xxxxxx Xxxxxxxxx, 00x Xxxxx, Xxxxxxx, Xxxxxxx 00000, requested that the Department grant approval tbr it to acquire Xxxxxx Loan Servicing LP ("Xxxxxx''), a ... Exhibit OCWEN NYDFS Agreement on Mortgage Servicing Practices The new Agreement on Mortgage Servicing Practices that Goldman, Ocwen and Xxxxxx have signed makes important changes in the mortgage servicing industry which, as a whole, has been plagued by ...
Accepted Servicing Practices. Comply (and cause the Servicer to comply) in all material respects with the Accepted Servicing Practices in regard to each Receivable.
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Accepted Servicing Practices. The Sellers covenant to cause the servicing of the Junior Participation Interests, Mezzanine Loans and or Whole Loans to be maintained in conformity with Accepted Servicing Practices and in a manner at least equal in quality to the servicing the applicable Seller would provide for the Junior Participation Interests, Mezzanine Loans and or Whole Loans which it owns. In the event that the preceding language is interpreted as constituting one or more servicing contracts, each such servicing contract shall terminate automatically upon the earliest of (i) an Event of Default, (ii) the date on which this Repurchase Agreement terminates or (iii) the transfer of servicing approved by the Agent in accordance with the terms of this Agreement.
