ARM Loans. As of the Sale Date and Servicing Transfer Date, with respect to each adjustable rate Mortgage Loan, the Seller has, and each Prior Servicer has, properly and accurately and in compliance with all Applicable Requirements and Accepted Servicing Practices (i) entered into its system all data required to service the Mortgage Loan, (ii) adjusted the mortgage interest rate on each interest adjustment date, (iii) adjusted the Mortgage Loan Payment on each payment adjustment date, (iv) calculated the amortization of principal and interest on each payment adjustment date, and (v) executed and delivered any and all notices regarding interest rate and payment adjustments.
Appears in 2 contracts
Sources: Agreement for the Bulk Purchase and Sale of Mortgage Servicing Rights (Home Point Capital Inc.), Agreement for the Bulk Purchase and Sale of Mortgage Servicing Rights (Mr. Cooper Group Inc.)