Common use of Sub-Servicing Agreements Between Servicer and Sub-Servicers Clause in Contracts

Sub-Servicing Agreements Between Servicer and Sub-Servicers. The Servicer may enter into Sub-Servicing Agreements for any servicing and administration of Mortgage Loans with any institution that is in compliance with the laws of each state necessary to enable it to perform its obligations under such Sub-Servicing Agreement and (x) has (i) been designated an approved seller-servicer by FHLMC or FNMA and (ii) has equity of at least $5,000,000, as determined in accordance with generally accepted accounting principles or (y) is a

Sub-Servicing Agreements Between Servicer and Sub-Servicers. The Servicer may enter into Sub-Servicing Agreements for any servicing and administration of Mortgage Home Equity Loans with any institution that is in compliance with the laws of each state necessary to enable it to perform its obligations under such Sub-Servicing Agreement and (x) has (i) been designated an approved seller-servicer by FHLMC or FNMA for second mortgage loans and (ii) has equity of at least $5,000,000, as determined in accordance with generally accepted accounting principles or (y) is a

Sub-Servicing Agreements Between Servicer and Sub-Servicers. The Servicer may enter into Sub-Servicing Agreements for any servicing and administration of Mortgage Home Equity Loans with any institution that is in compliance with the laws of each state necessary to enable it to perform its obligations under such Sub-Servicing Agreement and (x) has (i) been designated an approved seller-servicer by FHLMC or FNMA FannieMae for second mortgage loans and (ii) has equity of at least $5,000,000, as determined in accordance with generally accepted accounting principles or (y) is a