Amounts Retained by Servicers or Sellers Sample Clauses

Amounts Retained by Servicers or Sellers. (a) To the extent provided by contractual arrangement with Xxxxxxx Mac, the servicer of each Mortgage will be entitled to retain each month, as a servicing fee, any interest payable by the borrower on a Mortgage that exceeds the servicer's required remittance to Xxxxxxx Mac. Each servicer is required to pay all expenses incurred by it in connection with its servicing activities and will not be entitled to reimbursement for those expenses, except as provided in Section 3.08(c). If a servicer advances any principal and/or interest on a Mortgage to Xxxxxxx Mac prior to the receipt of such funds from the borrower, the servicer may retain (i) from prepayments or collections of delinquent principal on such Mortgage any payments of principal so advanced, or (ii) from collections of delinquent interest on such Mortgage any payments of interest so advanced. To the extent permitted by its servicing agreement, the servicer is entitled to retain as additional compensation certain incidental fees related to Mortgages it services.
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Related to Amounts Retained by Servicers or Sellers

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  • Examination and Retention of Contractor's Records (a) The HA, HUD, or Comptroller General of the United States, or any of their duly authorized representatives shall, until 3 years after final payment under this contract, have access to and the right to examine any of the Contractor's directly pertinent books, documents, papers, or other records involving transactions related to this contract for the purpose of making audit, examination, excerpts, and transcriptions.

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