Examples of Mortgage Loans in a sentence
Except as otherwise directed by the Manager , the Servicer shall maintain a collection department that substantially complies with the Servicing Standard and protects the Company’s interests in the Mortgage Loans and the Underlying Collateral in accordance with the Servicing Standard.
Effective as of the date hereof (and, with respect to each Mortgage Loan or Group of Mortgage Loans, as of the applicable Servicing Transfer Date with respect thereto), the Manager appoints the Servicer to service, administer, manage and dispose of the Mortgage Loans and the Underlying Collateral on behalf of and as an agent of the Manager.
The Servicer shall provide the Manager and the Initial Member with such reports from the MERS® System as the Manager or the Initial Member, from time to time, may request, including to allow the Manager and the Initial Member to verify the Persons identified on the MERS® System as having any interest in any of the Mortgage Loans and to confirm that the Mortgage Loans required to be registered on the MERS® System are so registered.
The Servicer shall take such actions and perform such duties in connection with the servicing, administration, management and disposition of the Mortgage Loans and Underlying Collateral as are set forth on Schedule 2, as the same may be amended from time to time by the Manager and the Servicer (the “Servicing Obligations”).
The Servicer may engage or retain one or more subservicers, including Affiliates of the Manager or of the Servicer (individually and collectively, “Subservicer”), to subservice all Mortgage Loans or any number of individual Mortgage Loan, as applicable, as it may deem necessary and appropriate, provided that any Subservicer meets the requirements set forth in the definition of Qualified Servicer.