Interim Servicing Fee Clause Samples

The Interim Servicing Fee clause defines the compensation paid to a service provider for managing an asset or obligation during a transitional or interim period, typically before a permanent servicer is appointed or a transaction is finalized. This fee is usually calculated based on a percentage of the outstanding principal or a fixed amount, and it covers essential administrative tasks such as collecting payments, maintaining records, and handling communications. Its core function is to ensure that servicing responsibilities are maintained without interruption during transitional phases, thereby protecting the interests of all parties involved and ensuring operational continuity.
Interim Servicing Fee. The parties hereto acknowledge that with respect to each Serviced Mortgage Loan and for each period of one full month during the period commencing with the Trust Cut-off Date and ending with the Servicing Transfer Date (December 1, 2000), the Interim Servicing Fee for purposes of this Agreement shall equal one-twelfth of the product of (a) the Servicing Fee Rate of 0.25% and (b) the outstanding principal balance of each Serviced Mortgage Loan. Such fee shall be computed monthly on the same principal amount and period respecting which any related interest payment on such Serviced Mortgage Loan is computed. The obligation of the Trust Fund to pay such Interim Servicing Fee is payable solely from the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 4.05 of the Servicing Agreement) of the Monthly Payment collected by the Servicer or as otherwise provided under Section 4.05
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Interim Servicing Fee. The monthly Interim Servicing Fee payable to Seller for performing interim servicing of the Mortgage Loans shall be as set forth on Schedule I attached hereto. The Interim Servicing Fee shall be fully earned on the first day of the month, regardless of actual collections. In addition, the Seller shall be entitled to retain all late fees, ancillary income, and float income with respect to the Mortgage Loans during the Interim Servicing Period.
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Interim Servicing Fee. (a) Purchaser shall pay to Seller the Interim Servicing Fee. Seller shall perform all of its obligations hereunder at Seller’s sole cost and expense, except as otherwise specifically provided herein. Seller shall also be entitled to retain as additional compensation the economic benefit resulting from holding all Custodial Accounts and Related Escrow Account balances until the applicable Servicing Transfer Date and all Ancillary Income received during the Interim Servicing Period[, including the initial HAMP servicer incentive fee earned under HAMP guidelines but not paid during or before the Interim Servicing Period (provided, that Purchaser shall be entitled to any HAMP performance incentive fees thereafter). (b) The Interim Servicing Fee due to Seller shall be netted out of the payment of the Servicing Fee due to Purchaser. A report of the Servicing Fee and Interim Servicing Fee, on a loan-level basis, shall be delivered to Purchaser within thirty (30) calendar days, after each calendar month end. The Interim Servicing Fee is subject to verification and approval by Purchaser within five (5) Business Days after receipt of Seller’s certification.
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Interim Servicing Fee. The Interim Servicing Fee payable to Seller for performing interim servicing of the Mortgage Loans during the Interim Servicing Period shall be equal to the out-of-pocket subservicing fee paid by Seller to its subservicer, ServiceMac, pursuant to the Subservicing Agreement dated February 7, 2022 by and between ServiceMac LLC and Home Point Financial Corporation solely with respect to Mortgage Loans.
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Interim Servicing Fee. Purchaser shall pay to Seller the Interim Servicing Fee. Seller shall perform all of its obligations hereunder, itself or via its subservicer, at Seller’s sole cost and expense, except as otherwise specifically provided herein. Purchaser shall be entitled to receive the economic benefit resulting from holding all Custodial Accounts and Custodial Account balances until the Servicing Transfer Date, late fees collected and any other ancillary income received during the Interim Servicing Period. Seller shall be responsible for any Escrow Account interest payment due borrowers during Interim Servicing Period. Purchaser shall reimburse Seller for any prepayment interest shortfalls related to the Mortgage Loans during the Interim Servicing Period, whether due to Mortgage Loan prepayments made in full or in part. The Interim Servicing Fee and any reimbursements related to prepayment interest shortfalls due to Seller shall be netted out of the payment of the Servicing Fee due to Purchaser. A loan-level report of the Servicing Fee, Interim Servicing Fee, and all reimbursements related to prepayment interest shortfalls shall be delivered to Purchaser within fifteen (15) calendar days after each calendar month end (if such day is not a Business Day, the next Business Day). Seller and Purchaser, as applicable, shall make all applicable payments no later than five (5) Business Days following delivery of such monthly report. As of Date Date the data is as of Seller Loan Number Loan ID assigned by seller Servicer Loan Number Loan ID assigned by the servicer Origination Channel Origination channel the loan was originated through Broker, Correspondent, or Retail Product Type Product Type Fixed or ARM Lien Position Lien Position Note Date Date the note is dated First Payment Date First payment date stated on note Next Payment Date Actual next payment due date Maturity Date Stated maturity date on Note Original Loan Amount Original Loan Amount Current Balance of the Loan Current Balance of the Loan Original Term Original Term Amortization Term Original amortization term of the loan Original Rate Original Rate Current Rate Current Rate Net Servicing Fee Servicing fee net of any fees Guarantee Fee Guarantee Fee P&I Amount Monthly principal and interest amount T&I Amount Monthly tax and insurance amount Escrow Flag Flag identifying whether the borrower escrows funds Yes or No Escrow Balance Current escrow balance Appraised Value Appraised value of property at time of origination...
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Interim Servicing Fee. The monthly Interim Servicing Fee payable to Seller for performing interim servicing of the Mortgage Loans shall be for each current Mortgage Loan having an outstanding principal balance as of the first day of the month and for each Delinquent Serviced Mortgage Loan having an outstanding principal balance as of the first day of the month as follows: FNMA: $ [ ] $ [ ] The Interim Servicing Fee shall be fully earned on the first day of the month, regardless of actual collections.
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Interim Servicing Fee. For the period from October 1 through November 1, 2008, an amount equal to $400,000. Thereafter, see attached Schedule A. Ancillary Income: Servicer shall be entitled to additional servicing compensation for all ancillary income, including NSF, Late Charges and Prepayment Penalties Custodial Accounts: Custodial accounts held by and float benefits received by Servicer shall inure to the benefit of the Servicer Account Management: Peninsula will be assigned an Account Manager to act as a single point of contact to respond to data requests and client issues. RADAR Vision: All securities serviced by ▇▇▇▇▇▇ will be installed on RADAR Vision. Peninsula will be assigned a user id and password enabling users to access deal level performance data. ▇▇▇▇▇▇ will also design and deliver customized reports as needed.
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Interim Servicing Fee. In its capacity as Interim Servicer, Seller shall be entitled to receive from Purchaser, with respect to the Mortgage Loans serviced by Seller on behalf of Purchaser pursuant to this Section 4.1, a servicing fee in an amount equal to: (i) Eight Dollars ($8.00) per Mortgage Loan as of the first day of each month for each month of the Interim Servicing Period, with the fee to be prorated for the actual number of days elapsed for the months in which the Interim Servicing Period begins and ends, if not on the first and last days of such months, respectively; plus (ii) all Ancillary Income collected relating to such Mortgage Loans other than prepayment fees. Prior to transmitting Servicing Fees to Purchaser pursuant to Section 2.5, Seller may deduct the interim servicing fee and such Ancillary Income due to Seller pursuant to this Section 4.1(b).
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Related to Interim Servicing Fee

  • Servicing Fee On each Payment Date, the Indenture Trustee on behalf of the Issuer shall pay to the Servicer the Servicing Fee in accordance with Section 4.4 for the immediately preceding Collection Period as compensation for its services. In addition, the Servicer will be entitled to retain all Supplemental Servicing Fees. The Servicer also will be entitled to receive investment earnings (net of investment losses and expenses) on funds on deposit in the Collection Account and the Reserve Account during each Collection Period.

  • Servicing Fees As compensation for its servicing activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fees monthly on each Settlement Date. Such Servicing Fees shall be payable from available funds in accordance with Section 2.07 and 2.08 of the Funding Agreement. The Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fees.

  • Reasonable Servicing Fee The Company acknowledges and agrees that the Servicing Fee represents reasonable compensation for performing such services and that the entire Servicing Fee shall be treated by the Company, for accounting and tax purposes, as compensation for the servicing and administration of the Mortgage Loans pursuant to this Agreement;

  • Master Servicing Fee Rate The rate used to calculate the Master Servicing Fee for each Mortgage Loan is 0.017% per annum.

  • of the Interim Servicing Agreement All individual insurance policies contain a standard mortgagee clause naming the Seller and its successors and assigns as mortgagee, and all premiums thereon have been paid. The Mortgage obligates the Mortgagor thereunder to maintain the hazard insurance policy at the Mortgagor's cost and expense, and on the Mortgagor's failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at such Mortgagor's cost and expense, and to seek reimbursement therefor from the Mortgagor. Where required by state law or regulation, the Mortgagor has been given an opportunity to choose the carrier of the required hazard insurance, provided the policy is not a "master" or "blanket" hazard insurance policy covering a condominium, or any hazard insurance policy covering the common facilities of a planned unit development. The hazard insurance policy is the valid and binding obligation of the insurer, is in full force and effect, and will be in full force and effect and inure to the benefit of the Purchaser upon the consummation of the transactions contemplated by this Agreement. The Seller has not engaged in, and has no knowledge of the Mortgagor's having engaged in, any act or omission which would impair the coverage of any such policy, the benefits of the endorsement provided for herein, or the validity and binding effect of either including, without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Seller;