Common use of All Mortgage Loans Clause in Contracts

All Mortgage Loans. At all times during the Post Sale Reporting Period, the Mortgage Loans must be serviced by the servicer identified by Purchaser in its NSO Supplemental Qualification Statement and relied on by the Secretary in qualifying Purchaser for participation in this sale, or any successor servicer, which is (i) authorized by the Secretary as a successor servicer for purposes of this transaction, (ii) either an FHA-approved mortgagee or a ▇▇▇▇▇▇ ▇▇▇ or Freddie Mac approved servicer with actual experience in servicing loans similar to the Mortgage Loans; and, (iii) in good standing with and rated average or above by the applicable Agencies, if so rated. Purchaser shall provide any documentation requested by the Secretary for authorization of a successor servicer. Purchaser shall provide a self-certification regarding compliance with this provision in the format provided in Exhibit B-1-NSO with each Post-Sale Report.

Appears in 1 contract

Sources: Neighborhood Stabilization Outcome Pool Mortgage Loan Rider

All Mortgage Loans. At all times during the Post Sale Reporting Period, the Mortgage Loans must be serviced by the servicer identified by Purchaser in its NSO Supplemental Qualification Statement and relied on by the Secretary in qualifying Purchaser for participation in this sale, or any successor servicer, which is (i) authorized by the Secretary as a successor servicer for purposes of this transaction, (ii) either an FHA-approved mortgagee or a ▇▇▇▇▇▇ ▇▇▇ or Freddie Mac (collectively the “Agencies”) approved servicer with actual experience in servicing loans similar to the Mortgage Loans; and, (iii) in good standing with and rated average or above by the applicable Agencies, if so rated. Purchaser shall provide any documentation requested by the Secretary for authorization of a successor servicer. Purchaser shall provide a self-certification regarding compliance with this provision in the format provided in Exhibit B-1-B-2- NSO with each Post-Sale Report.

Appears in 1 contract

Sources: Neighborhood Stabilization Outcome Pool Mortgage Loan Rider

All Mortgage Loans. At all times during the Post Sale Reporting Period, the Mortgage Loans must be serviced by the servicer identified by Purchaser in its NSO Supplemental Qualification Statement and relied on by the Secretary in qualifying Purchaser for participation in this sale, or any successor servicer, which is (i) authorized by the Secretary as a successor servicer for purposes of this transaction, (ii) either an FHA-approved mortgagee or a ▇▇▇▇▇▇ ▇▇▇ or Freddie Mac approved servicer with actual experience in servicing loans similar to the Mortgage Loans; and, (iii) in good standing with and rated average or above by the applicable Agencies, if so rated. Purchaser shall provide any documentation requested by the Secretary for authorization of a successor servicer. Purchaser shall provide a self-certification regarding compliance with this provision in the format provided in Exhibit B-1-NSO B-1 with each Post-Sale Report.

Appears in 1 contract

Sources: Neighborhood Stabilization Outcome Target Pool Mortgage Loan Rider