Servicing Released. The Lender agrees to transfer to Utah Housing the Servicing Rights of each Mortgage Loan purchased hereafter by Utah Housing subject to the following terms: 1. Utah Housing shall pay to the Lender a servicing release fee (SRP) or premium at the time a Mortgage Loan is purchased by Utah Housing. The Lender’s authorized officer may request a copy of the current SRP and premium schedule from Utah Housing’s Vice President of Mortgage Banking. 2. Utah Housing will not pay an SRP for the Subordinate Loan. 3. Nothing herein shall prevent Utah Housing from transferring its rights to service any Mortgage Loan subject to this Agreement.
Appears in 3 contracts
Sources: Participation Agreement, Participation Agreement, Participation Agreement