ARMs. The Servicer shall enforce each ARM and 5/1 ARM ---- Mortgage Loan in accordance with its terms and shall or shall cause the applicable Subservicers to timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Coupon Rate and monthly payment and the Servicer shall or shall cause the applicable Subservicers to timely notify the Mortgagor of any changes to the Coupon Rate or the Mortgagor's monthly payment.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Thornburg Mortgage Asset Corp)
ARMs. The Servicer shall enforce each ARM and 5/1 ARM ---- Mortgage Loan in accordance with its terms and shall or shall cause the applicable Subservicers to timely calculate, record, report and apply all interest rate adjustments in accordance with the related Mortgage Note. The Servicer's records shall, at all times, reflect the then Coupon Rate and monthly payment and the Servicer shall or shall cause the applicable Subservicers to timely notify the Mortgagor of any changes to the Coupon Rate or the Mortgagor's monthly payment.
Appears in 1 contract
Sources: Submaster Servicing Agreement (Structured Asset Mortgage Investments Inc)