Accepted Servicing Standards definition
Examples of Accepted Servicing Standards in a sentence
The program is to ensure that the Mortgage Loans are originated and serviced in accordance with Accepted Servicing Standards and the Underwriting Guidelines; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.
The program is designed to ensure that the Mortgage Loans are originated and serviced in accordance with Accepted Servicing Standards and the Underwriting Guidelines, with reasonable exceptions based on compensating factors; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.
Notwithstanding anything in this Article IV to the contrary, with respect to any action to be taken or not taken with respect to the servicing of the Mortgage Loans that requires the consent or approval of the Purchaser, after a Pass-Through Transfer with respect to the related Mortgage Loan, such consent shall be exercised by the Company as servicer of the Mortgage Loans in accordance with Accepted Servicing Standards.
Notwithstanding anything in this Article IV to the contrary, with respect to any action to be taken or not taken with respect to the servicing of the Mortgage Loans that requires the consent or approval of the Purchaser, after a Securitization Transaction with respect to the related Mortgage Loan, such consent shall be exercised by the Company as servicer of the Mortgage Loans in accordance with Accepted Servicing Standards.
Such program is to ensure that the Mortgage Loans are originated and serviced in accordance with Accepted Servicing Standards and the Underwriting Guidelines; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.
The program is designed to ensure that the Mortgage Loans are originated and serviced in accordance with Accepted Servicing Standards and the Underwriting Guidelines.
The Seller shall cause the Servicer to service, or cause to be serviced, the Purchased Assets, in accordance with Accepted Servicing Standards, pending any transfer of such servicing pursuant to the Custody and Servicing Agreement, employing at least the same procedures and exercising the same care that the Servicer customarily employs in servicing mortgaged properties and mortgage loans for its own account.
In the event of any waiver of the enforcement of, or decision not to enforce, a due-on-sale clause on any Contract, the Servicer shall enter into an assumption and modification agreement with a new Obligor consistent with the Accepted Servicing Standards.
Seller and Originator shall cause Servicer to service, or cause to be serviced, all Loans that are part of the Purchased Assets in accordance with Accepted Servicing Standards, pending any delivery of such servicing to Buyer pursuant to the Servicing Agreement, employing at least the same procedures and exercising the same care that Servicer customarily employs in servicing Loans for its own account.
In addition, the Servicer may accept a lower bid if it determines, in accordance with Accepted Servicing Standards, that the prospective buyer making the lower bid is more likely to perform its obligations, or the terms offered by the prospective buyer making the lower bid are more favorable.