Examples of Deferred Servicing Fee in a sentence
A Deferred Servicing Fee that arises under a Designated Servicing Agreement that does not provide that the related Deferred Servicing Fee is payable from general collections and proceeds of the entire related mortgage pool if such Deferred Servicing Fee is determined to be a Nonrecoverable Deferred Servicing Fee.
Each Receivable arises from an Advance or Deferred Servicing Fee for which Nationstar is entitled to reimbursement or payment, as applicable, pursuant to a Designated Servicing Agreement.
Upon deposit into the Spread Account of monthly Servicing Fees that are received from interest advances made by Nationstar, such Servicing Fee is converted into a P&I Advance (which may be accounted for, for administrative convenience for Nationstar, as a Deferred Servicing Fee Receivable and not a P&I Advance in connection with any reporting with any applicable counterparty to any applicable Designated Servicing Agreement).
Pursuant to the applicable Designated Servicing Agreement, Nationstar is entitled to reimbursement of such P&I Advance and/or payment of such Deferred Servicing Fee Receivable from subsequent payments on the related Mortgage Loan or, subject to certain exceptions, from payments on other Mortgage Loans.
The Servicer shall cause the Subservicer to withdraw Advance Reimbursement Amounts related to Receivables other than Loan-Level Receivables from the appropriate Custodial Account to reimburse any Advance or pay any Deferred Servicing Fee which the Subservicer shall have determined will not be recoverable from proceeds of the related Mortgage Loan, promptly after making such determination of non-recoverability.
For the avoidance of doubt, Nationstar, each Purchaser and the Depositor hereby acknowledge and agree (on behalf of themselves and their assignees and successors in interest) that the Purchaser has no right, title or interest in any P&I Advances or Deferred Servicing Fee Receivables that have been sold and/or contributed to the Depositor on or prior to the date hereof.
The Issuer has pledged such rights to reimbursement for P&I Advances and Deferred Servicing Fee Receivables to an Indenture Trustee on behalf of certain noteholders.
Each Deferred Servicing Fee Receivable in existence on any Business Day on and after the Effective Date and until the opening of business on the related MSR Transfer Date and which arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as of the date such Receivable is created.
The Servicer shall withdraw Advance Reimbursement Amounts related to Receivables other than Loan-Level Receivables from the appropriate Custodial Account to reimburse any Advance or pay any Deferred Servicing Fee which the Servicer shall have determined will not be recoverable from proceeds of the related Mortgage Loan, promptly after making such determination of non-recoverability.
It would run along the south-western boundary of the site to the rear of the proposed apartment block and then branch off towards the north-west to lead to the driveways for each of the proposed detached dwellings.