Common use of Servicing and Collection Practices Clause in Contracts

Servicing and Collection Practices. The servicing and collection practices used by the Seller and each subservicer, and, to the best of the Seller’s knowledge, any prior originator or servicer since origination with respect to each mortgage note and mortgage, have complied with applicable state and federal law, the HUD HECM Guidelines and the documents relating to the Mortgage Loan.

Servicing and Collection Practices. The servicing and collection practices used by the Seller and each subservicer, and, to the best of the Seller’s knowledge, any prior originator or servicer since origination with respect to each mortgage note and mortgage, Mortgage Loan have complied with applicable state and federal law, the HUD HECM Guidelines and the documents relating to the Mortgage Loan.