Approved Subservicer definition

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Approved Subservicer means a subservicer acceptable to Agent with whom Borrower has entered into a subservicing agreement acceptable to Agent.

Approved Subservicer means Cenlar and any other subservicer approved in writing by the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed).

Examples of Approved Subservicer in a sentence

If the contract incentive is greater than the HAFA incentive, the Approved Subservicer shall keep the HAFA incentive and JPMorgan shall pay the Approved Subservicer the difference between the full contract incentive and the HAFA incentive.
The short sale incentives will be netted with any Treasury-paid servicer incentives in which the Approved Subservicer participates (e.g., Home Affordable Foreclosure Alternatives (“HAFA”) incentives, if applicable); provided, however, that if a loan is HAFA eligible, and the related Approved Subservicer participates in HAFA, such Approved Subservicer shall retain all HAFA incentives so long as the HAFA incentive is greater than the contract incentive.
Each Approved Subservicer shall be entitled to receive the following incentive fees for short sale resolutions of Delinquent Subserviced Loans: Sale Price to BPO Incentive Floor $ Cap $ <80% 0.00% 0 0 80% – 85% 0.50% 500 4,500 85% – 90% 0.75% 500 4,500 >90% 1.25% 500 4,500 The short sale incentive shall be the gross sale price multiplied by the incentive percentage, subject to the Floor and Cap, as per the table above.
For the purpose of this Subservicing Protocol, subject to subparagraph (e), no Approved Subservicer shall be eligible to subservice loans in excess of 40,000 Delinquent Subserviced Loans (the “Active Loan Cap”).
Once any legal or regulatory requirements have been satisfied with respect to any Potentially Eligible Loan, including the passage of any necessary time or notice period and all required rating agency approvals or other required third party approvals, such loan will be considered an “Eligible Loan” that may be subserviced by an Approved Subservicer.
Approved Subservicers must agree to comply with all terms of this Subservicing Protocol, the Governing Agreements and any other consent order or judgment to which JPMorgan may be subject that, in JPMorgan’s judgment, would apply to the Approved Subservicer.
Nothing in this provision shall be construed to require JPMorgan to transfer Eligible Loans to more than one Approved Subservicer per month.
Within sixty (60) days of JPMorgan’s approval of an Authorized Subservicer (or within sixty (60) days of the Acceptance Date, if later), JPMorgan shall negotiate with each Approved Subservicer for the purpose of entering into a subservicing agreement that complies materially with the uniform terms mandated by this Subservicing Protocol (each, a “Subservicing Agreement”).
In addition, JPMorgan shall identify and, at its discretion, remove from consideration as Potentially Eligible Loans any second lien loans, until such time that there is an Approved Subservicer that can service second lien Delinquent Loans and has commercially acceptable processes to map fixed second liens from JPMorgan systems.
Each Approved Subservicer shall, once a month within five (5) business days of the last business day of the prior month, send to the applicable Trustee for a particular Trust and to JPMorgan statistics comparing its performance for each Subserviced Loan to the relevant timeline applicable to that Subserviced Loan (the “Monthly Statement”).

More Definitions of Approved Subservicer

Approved Subservicer means (i) the Diamond Subservicer and (ii) any other Person to which the Servicer has delegated all or substantially all of its servicing activities with respect to any Pledged Timeshare Loan under the Servicing Agreement to and approved in writing by the Administrative Agent.

Approved Subservicer means each subservicer approved by Freddie Mac, in its sole discretion, with respect to the Freddie Mac Mortgage Loans serviced by ▇▇▇▇▇▇▇▇, as servicer, for Freddie Mac under the Freddie Mac Servicing Contract. For purposes of clarity, the Lender has no approval rights relating to a determination that a subservicer is an Approved Subservicer or Freddie Mac’s requiring Borrower to engage an Approved Subservicer; provided, that if such Approved Subservicer has entered into a subservicer side letter in form and substance reasonably acceptable to Lender and acceptable to Freddie Mac, the Freddie Mac Servicing Contract Rights will be considered as Eligible Servicing Rights.

Approved Subservicer means any subservicer approved in writing by Buyer (such approval not to be unreasonably withheld, conditioned or delayed).

Approved Subservicer means any subservicer approved in writing by Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) and any Interim Servicer (as defined in the Base Indenture). On the Closing Date, PennyMac Loan Services, LLC shall be considered an Approved Subservicer.

Approved Subservicer means Cenlar FSB, Nationstar Mortgage LLC, d/b/a ▇▇. ▇▇▇▇▇▇ and any other subservicer approved in writing by the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed).

Approved Subservicer means each subservicer approved by ▇▇▇▇▇▇▇ ▇▇▇, in its sole discretion, with respect to the ▇▇▇▇▇▇▇ ▇▇▇ Mortgage Loans serviced by ▇▇▇▇▇▇▇▇, as servicer, for ▇▇▇▇▇▇▇ ▇▇▇ under the ▇▇▇▇▇▇▇ ▇▇▇ Servicing Contract. For purposes of clarity, the Lender has no approval rights relating to a determination that a subservicer is an Approved Subservicer or ▇▇▇▇▇▇▇ ▇▇▇’s requiring Borrower to engage an Approved Subservicer; provided, that if such Approved Subservicer has entered into a subservicer side letter in form and substance reasonably acceptable to Lender and acceptable to ▇▇▇▇▇▇▇ ▇▇▇, the ▇▇▇▇▇▇▇ ▇▇▇ Servicing Contract Rights will be considered as Eligible Servicing Rights.