Third-party servicing. (a) Third-party servicing fee. As compensation for its activities under its third-party servicing agreements, each third-party servicer will be entitled to a third-party servicing fee for each third-party mortgage loan as to which a monthly installment of principal and interest is received equal to the monthly third-party servicing fee rate for the mortgage loan multiplied by the scheduled principal balance on which the installment of interest accrued. (The third-party servicer’s compensation may be reduced by any master servicing fee on such third-party mortgage loan, as described in the following paragraph (b).)
Appears in 20 contracts
Samples: Pooling Agreement (Citicorp Mortgage Securities Inc), Pooling Agreement (Citicorp Mortgage Securities Inc), Pooling Agreement (Citicorp Mortgage Securities Inc)
