Co-Issue Basis definition
Co-Issue Basis means a transfer of Servicing Rights by the Subservicer to the MSR Owner concurrently with the Subservicer selling and transferring the related Defended Loan to the applicable Agency, in each case, in accordance with Agency Guidelines.
Examples of Co-Issue Basis in a sentence
The Servicing Rights related to each New Mortgage Loan shall be assigned to MSR Owner under this Agreement so long as the following conditions are met: (1) such New Mortgage Loan is an Eligible Loan, (2) such New Mortgage Loan is not a Prohibited Refinanced Loan and (3) the Subservicer has obtained consents, if any, required by the applicable Agency to assign the related Servicing Rights to the MSR Owner which, after January 1, 2018, shall be under a Co-Issue Basis.