Ability to Service definition

Ability to Service. The Seller is an approved servicer of conventional residential mortgage loans for ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇▇ Mac, with the facilities, procedures, and experienced personnel necessary for the sound servicing of mortgage loans of the same type as the Mortgage Loans. The Seller is in good standing to service mortgage loans for ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇▇ Mac, and no event has occurred, including but not limited to a change in insurance coverage, which would make the Seller unable to comply with ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇▇ Mac eligibility requirements or which would require notification to either ▇▇▇▇▇▇ Mae or ▇▇▇▇▇▇▇ Mac, as applicable; and
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Examples of Ability to Service in a sentence

  • No consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and performance by the Servicer of or compliance by the Servicer with this Agreement, or if required, such consent, approval, authorization or order will be obtained prior to December 31, 1997; Ability to Service.

  • Section 7.1 (h) (Ability to Service) is hereby amended by deleting "seller/" in the first line thereof and "FNMA or" in each instance.

  • See "Risk Factors -- Our Ability to Service the Notes Depends on Our Ability to Get Cash from Our Subsidiaries" and "-- The Notes Will be Effectively Subordinated to Our Secured Debt." The Company and its subsidiaries will be permitted to incur additional secured and unsecured indebtedness.