Examples of Faxxxx Xax in a sentence
The Master Servicer and each Servicer shall obtain (to the extent generally commercially available from time to time) and maintain fidelity bond and errors and omissions coverage acceptable to Faxxxx Xax xr Frxxxxx Xac with respect to their obligations under this Agreement and the applicable Selling and Servicing Contract, respectively.
The Servicer shall keep in force during the term of this Agreement a Fidelity Bond and Errors and Omissions Insurance the minimum coverage of which shall be at least equal to the coverage required by Frxxxxx Xac in the Frxxxxx Xac Guide or Faxxxx Xax xn the Faxxxx Xae Guides (unless a waiver of such requirement has been obtained by the Servicer from either Frxxxxx Xac or Faxxxx Xae).
Such insurance shall be with insurers approved by the Master Servicer and Faxxxx Xax xr Frxxxxx Xac.
Such Fidelity Bond and Errors and Omissions Insurance shall be maintained with recognized insurers, shall be in such form and amount as would permit the Servicer to be qualified as a Faxxxx Xax xr Frxxxxx Xac seller/servicer, and shall by its terms not be cancelable without thirty days’ prior written notice to the Master Servicer and the NIMS Insurer.
In addition, with respect to any Mortgage Loan serviced for a Faxxxx Xax xool, the Servicer shall transmit full credit reporting data to each of such credit repositories in accordance with Faxxxx Xae Guide Announcement 95-19 (November 20, 1995), a copy of which is attached hereto as Exhibit G, reporting each of the following statuses, each month with respect to a Mortgage Loan in a Faxxxx Xax xool: New origination, current, delinquent (30-60-90-days, etc), foreclosed or charged off.
The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the Faxxxx Xax Xuides.
Purchaser and Seller agree that the Advances will be offset first against any fees owed to the loan officers from the FHA Loans and the Faxxxx Xax Xrior Approval Loans which are closed and which were originated by said loan officer, and the amount of such offset shall be paid, concurrently with the applicable loan closing, to Seller by the Purchaser in addition to the Purchase Price Installment attributable to the Pipeline.
The exchange of the Funding Note for the GTCs will take place at the offices of Faxxxx Xae, 3900 Xxxxxxxxx Xxxxxx, X.X., Xxxxxxxxxx, X.X. 00000-0000 xt 10:00 a.m., Eastern time, at a Closing (the "Closing") on December 15, 1995 or on such other Business Day thereafter on or prior to December 29, 1995 as may be agreed upon by Subsidiary and Faxxxx Xax.
The appraisal was written, in form and substance, to (i) customary Faxxxx Xax xr Frxxxxx Xac standards for mortgage loans of the same type as such Mortgage Loans and (ii) USPAP standards, and satisfies applicable legal and regulatory requirements.
All corporate and other proceedings taken or to be taken in connection with the transactions contemplated by this Agreement and all documents and instruments incidental to such transactions will be satisfactory in form and substance to Faxxxx Xae, and Faxxxx Xax will have received all such counterpart originals or certified or other copies of such documents as it may reasonably request.