Common use of Servicer to Purchase and Service Loans Clause in Contracts

Servicer to Purchase and Service Loans. The Servicer has agreed to purchase the Loans from the Participant and to service such Loans as provided in the Program Guide, Servicer Agreement, Xxxxxx Mae Guide, and GNMA Guide; provided, however, that the Servicer is not obligated to purchase Loans which are not current with respect to all payments required under such Loan, including, but not limited to, the payment of principal and interest and escrow payments for taxes and hazard insurance.

Servicer to Purchase and Service Loans. The Servicer has agreed to purchase the Loans from the Participant and to service such Loans as provided in the applicable Program Guide, the Servicer Agreement, Xxxxxx Mae the GNMA Guide, and GNMA Guidethe FHLMC Guide or the FNMA guidelines, as applicable to the type of financing; provided, however, that the Servicer is not obligated to purchase Loans which are not current with respect to all payments required under such Loan, including, but not limited to, the payment of principal and interest and escrow payments for taxes and hazard insurance, or otherwise not in compliance with the applicable Program Guide.

Servicer to Purchase and Service Loans. The Servicer has agreed to purchase the Loans from the Participant and to service such Loans as provided in the Program Guide, Servicer Agreement, Xxxxxx Mae Guide, Xxxxxxx Mac Guide, and GNMA Guide; provided, however, that the Servicer is not obligated to purchase Loans which are not current with respect to all payments required under such Loan, including, but not limited to, the payment of principal and interest and escrow payments for taxes and hazard insurance.