Document Exception Report definition
Examples of Document Exception Report in a sentence
Upon correction of the deficiencies and return of the related documents, Collateral Custodian shall promptly telecopy to Lender and Borrower a Custodian's Certification and an updated Document Exception Report and destroy the related Request for Release of Documents.
In no event shall Custodian list any Mortgage Loan on the Asset Schedule and Exception Report if such Mortgage Loan is required to be listed on the Fatal Document Exception Report and related Asset Schedule; provided that, if a Wet-Ink Mortgage Loan has been previously listed on the Asset Schedule and Exception Report, it shall remain on the Asset Schedule and Exception Report and the Custodian shall indicate any Fatal Document Exception.
With respect to each HECM Loan, as of the Closing Date, there are no defective or missing Collateral Documents required to be included in the applicable Collateral File, except as identified on the Document Exception Report.
By 3:30 p.m. of each Business Day on which Lender has received an Outstanding Notes Report from Collateral Custodian, Lender shall forward a copy of such report to Borrower together with a current Document Exception Report.
Upon discovery by Custodian of a Fatal Document Exception, Custodian shall immediately send to Seller, Disbursement Agent and Buyer, by Electronic Transmission, a Fatal Document Exception Report listing such Fatal Document Exceptions together with an Asset Schedule with respect to each Mortgage Loan that has any Fatal Document Exception.
If such deficiencies can only be cured by returning documents to Borrower, Collateral Custodian shall request that Borrower deliver to Collateral Custodian a Request for Release of Documents and, upon receipt thereof, Collateral Custodian shall return any document containing any deficiency to Borrower for correction and deliver to Lender a Document Exception Report.