Bayview definition
Examples of Bayview in a sentence
Bayview and the Master Servicer shall be entitled to be reimbursed by the Servicer for all costs of collection and all costs related to the transfer of said Mortgage Loans, Mortgage Loan documents and data.
If any provision of this Agreement is inconsistent with any prior Agreements between the parties, oral or written, the terms of this Agreement shall prevail, and after the effective date of this Agreement, the relationship and agreements between Bayview and the Servicer shall be governed in accordance with the terms of this Agreement.
Upon request by Bayview or the Trustee, with respect to any REO Property, the Servicer shall obtain broker price opinions from parties selected by the Servicer, and shall solicit, in a commercially reasonable manner, bids for the purchase of such REO Property.
In addition, the Owner shall have the right at any time to designate any Affiliate of the Owner, including Bayview Loan Servicing, LLC, as the Owner’s agent for purposes of receiving any remittances, notices, reports and other information required to be remitted or delivered by the Owner with respect to any Mortgage Loans serviced under this Agreement.
This information will be forwarded to Bayview and the Master Servicer for approval and all necessary disclosures.
In the event of a material breach of this Agreement by Bayview, which breach is curable, Bayview shall have thirty (30) days to cure such breach after written notification is given by the Master Servicer or the Trustee.
Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by such Sections 6050H, 6050J and 6050P of the Code and a copy thereof shall be sent to the Master Servicer (upon its request), Bayview and the Trustee promptly after the filing thereof.
The Servicer shall execute and deliver all appropriate notices required by the Servicing Standard and the Mortgage Loan documents including but not by way of limitation, timely notification to the Master Servicer and Bayview, of applicable date and information regarding such interest rate adjustment, and methods of implementation of such interest rate adjustments and of all prepayments of any loan hereunder by the Mortgagor.
Such coverage shall provide Bayview and the Trustee protection in liquidating a Mortgage Loan against any loss that can be attributed to damage to the property from a hazard or peril required to be insured pursuant to this Agreement and that otherwise would be insured but for the Servicer’s negligence in allowing insurance coverage to lapse or failing to keep a sufficient amount of insurance in force.
The determination by the Servicer that it has made a Non-Recoverable Advance or that any proposed Delinquency Advance, if made, would constitute a Non-Recoverable Advance, shall be evidenced by an Officers’ Certificate of the Servicer delivered to the Master Servicer, Bayview and the Trustee.