Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.
Appears in 3 contracts
Sources: Servicing Agreement (D&n Capital Corp), Servicing Agreement (Flagstar Capital Corp), Servicing Agreement (Franklin Finance Corp)
Agency Suspension. Should the Servicer or any subservicer of the Mortgage Loans at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rights.
Appears in 2 contracts
Sources: Servicing Agreement (First Nationwide Preferred Capital Corp), Servicing Agreement (California Federal Preferred Capital Corpation)
Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA or FHLMC, then the Purchaser Owner may immediately terminate this Agreement and accelerate performance of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rightsservicing rights.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26)
Agency Suspension. Should the Servicer at any time during the term of this Agreement have its right to service temporarily or permanently suspended by FNMA ▇▇▇▇▇▇ ▇▇▇ or FHLMC or otherwise cease to be an approved seller/servicer of conventional residential mortgage loans for FNMA ▇▇▇▇▇▇ ▇▇▇ or FHLMC, then the Purchaser Company may immediately terminate this Agreement and accelerate performance without assessment of the provisions of the Purchase Agreement to require immediate transfer of the Servicing Rightsany termination fee.
Appears in 1 contract
Sources: Servicing Agreement (Harris Preferred Capital Corp)