Cashiering. On the Servicing Transfer Date, Seller shall provide a listing of all accounts on ACH payment draft. · On the Servicing Transfer Date, Seller shall provide Purchaser a listing of all bi-weekly payment loans. Final Reports · The close of business on the business day immediately prior to the Transfer Date will be considered the Final Conversion Cutoff Date. · Accrued interest on escrow funds is to be posted to each applicable mortgage loan immediately prior to each Final Conversion Cutoff Date. · Seller is responsible for the preparation and mailing all IRS forms 1098 and 1099 to the Borrowers for the period from January 1st through the Final Conversion Cutoff Date and for the reporting to the IRS for the same period on all loans included in the transfer. · No payments or disbursements are to be made to or from the loans included in the transfer after the Final Conversion Cutoff Date as this is the date that files will be generated for conversion of data to Purchaser’s system. · Seller shall provide the following items after the Final Conversion Cutoff Date:
Cashiering. Clearing Broker shall perform cashiering functions for Correspondent. Said functions may include the receipt and deposit by Correspondent to bank accounts established by and for the benefit of Clearing Broker of customer funds, checks and cash, and the receipt by Correspondent of securities sold for the Accounts as well as certain administrative functions relating thereto. All customer funds and securities shall be promptly forwarded by Correspondent to Clearing Broker. Clearing Broker shall be responsible for performing administrative and bookkeeping functions with respect to deposits, fees and charges in the Accounts. Clearing Broker shall not be responsible for any securities or funds until properly delivered to Clearing Broker pursuant to Clearing Broker’s requirements.
Cashiering o On the Servicing Transfer Date, Seller shall provide a listing of all accounts on ACH payment draft. o On the Servicing Transfer Date, Seller shall provide Purchaser a listing of all bi-weekly payment loans. Final Reports o The close of business on the business day immediately prior to the Transfer Date will be considered the Final Conversion Cutoff Date.
Cashiering. The Clearing Agent will engage in all cashiering functions for the Introduced Accounts, including the receipt, delivery and transfer of securities purchased, sold, borrowed and loaned, receiving and distributing payment therefor, holding in custody and safekeeping all securities and cash so received, the handling of margin accounts, the receipt and distribution of dividends and other distributions, and the processing of exchange offers, rights offerings, warrants, tender offers and redemptions. Only where the Clearing Agent receives dividends in its nominee name and then distributes such dividends to Introduced Accounts will the Clearing Agent backup withhold on those Introduced Accounts which do not have a taxpayer identification number. If the Introducing Firm so elects, the cashiering functions with respect to the receipt of securities and the making and receiving of payment therefor may be relinquished to the Introducing Firm.
Cashiering. Except as otherwise agreed, the Clearing Firm will engage in all cashiering functions for the Accounts, including the receipt, delivery and transfer of securities purchased, sold, borrowed and loaned, receive and distribute payment therefor, hold in custody and safekeeping all securities and payments so received, receive and distribute dividends and other distributions, and process exchange offers, rights offerings, warrants, tender offers, and other corporate actions. Clearing Firm shall transfer customer accounts upon instructions received from your clients in accordance with Applicable Rules, and give Introducing Firm notice of receipt of such instructions. Neither you nor the Clearing Firm shall accept cash or cash equivalents, including money orders, traveler’s checks, or cashier’s checks (whether or not in bearer form) or similar instruments for any Account.
Cashiering. Computer-assisted registration of item prices and the billed amount, handling of cash and cashless pay- ment processes and presentation of the bill.
Cashiering. Clearing Broker shall perform certain cashiering functions for Correspondent. Said functions may include the processing of deposits by Correspondent to bank accounts established by and for the benefit of Clearing Broker of customer funds and the receipt by Correspondent of securities sold for the Accounts as well as certain administrative functions relating thereto. All customer funds shall be promptly deposited and securities shall be promptly forwarded by Correspondent to Clearing Broker. Clearing Broker shall be responsible for performing administrative and bookkeeping functions with respect to deposits, fees and charges in the Accounts. Clearing Broker shall not be responsible for any securities or funds until properly delivered to Clearing Broker pursuant to Clearing Broker's requirements. Correspondent shall not be entitled to issue checks or any negotiable instruments directly to Customers using instruments for which the Clearing Broker is the maker or drawer without written approval of the Clearing Broker. Approval shall be at the sole discretion of the Clearing Broker and may be considered only upon Correspondent providing notice and evidence satisfactory to the Clearing Broker of the establishment and ability to maintain and enforce supervisory procedures with respect to the issuance of checks or negotiable instruments pursuant to Section 3.9. For all transactions using wired funds, whether incoming or requests for transfers, Clearing Broker or its agent shall compare relevant information against information supplied by third parties regarding persons subject to the OFAC list. Any instructions or requests for transfers of funds to persons not identified as a Customer shall be subject to prior approval of the Clearing Broker. Clearing Broker shall review relevant information regarding third party payments and deliveries, including the payee's name and address and the recipient bank's name and address, to detect persons subject to the OFAC list.
Cashiering. RPRCS shall assist ROG in performing certain cashiering functions for Correspondent, including the receipt and deposit to local ROG bank accounts established for the benefit of RPRCS of funds and checks and cash and the receipt and overnight delivery to ROG of securities sold for the Accounts as well as certain administrative functions relating thereto. RPRCS shall be responsible for performing all administrative and bookkeeping functions and certain other Services functions with respect to the collection of deposits, fees and charges from Correspondent and its Customers on behalf of itself and ROG and shall perform such Services with respect to the reconciliation of ROG bank accounts established for the benefit of RPRCS as shall be agreed from time to time by ROG and RPRCS. The Clearing Firms shall not be responsible for any securities until received by RPRCS or any funds until collected by RPRCS from Correspondent or Customer. The Clearing Firms need not accept any instruction in violation of the Applicable Rules or contrary to the Procedures or Credit Policies. (f)
Cashiering. This module includes user training at go-live and if required, includes RETAIL and MOTO terminal IDs. Use of this Module requires receipt printers, and if processing credit cards, card readers are also required. Encrypted peripherals are also available and will require point-to-point encryption (P2PE). Hardware is not included, however, the peripheral guide located in the support library outlines applicable hardware costs.
Cashiering including receiving and posting payments, ensuring accurate application of the payments to the customers’ accounts, the end investors’ accounts and the Nationstar’s corporate accounts.
