PHH Mortgage Loans definition
Examples of PHH Mortgage Loans in a sentence
With respect to the PHH Mortgage Loans and the period from such Bring-Down Date to and including the Closing Date, the Seller hereby makes the representations and warranties contained in clauses (4), (20), (21), (25), (31) and (57) of Section 3.03 of the PHH Purchase and Servicing Agreement with respect to each of the PHH Mortgage Loans to and for the benefit of the Depositor, the Trustee and the Trust Fund.
NAMC will be the NAMC Master Servicer for the NAMC Mortgage Loans and PHH will be the PHH Master Servicer for the PHH Mortgage Loans.
Only the PHH Master Servicer will indemnify any Indemnified Person for any loss, liability for expense which primarily relates to the servicing or administration of the PHH Mortgage Loans.
Only the NAMC Master Servicer or the PHH Master Servicer, as the case may be, shall be liable with respect to the servicing of the NAMC Mortgage Loans or the PHH Mortgage Loans, respectively, and the REO Property for actions taken by any such person in contravention of such Master Servicer's duties hereunder.
All funds with respect to the NAMC Mortgag▇ ▇▇▇▇▇ shall be deposited in the NAMC Custody Account, and all funds with respect to the PHH Mortgage Loans shall be deposited in the PHH Custody Account.
By: Name: Title: Except for “Mortgage Loans”, which shall mean the PHH Mortgage Loans sold by the Seller to the Purchaser, all capitalized terms in this Exhibit A shall have the meanings ascribed to them in the PHH Servicing Agreement.
On each Payment Date, all amounts representing prepayment charges in respect of the PHH Mortgage Loans received during the related Prepayment Period will be withdrawn from the Payment Account and distributed to the holders of the Subordinate Notes and shall not be available for distribution on any other Notes.
The Master Servicer shall deposit in the Collection Account all Collections on the PHH Mortgage Loans upon receipt by the Master Servicer from the related Servicer.
All funds with respect to the NAMC Mor▇▇▇▇▇ ▇oans shall be deposited in the NAMC Custody Account, and all funds with respect to the PHH Mortgage Loans shall be deposited in the PHH Custody Account.
Prepayment charges with respect to the mortgage loans will be distributed to Countrywide or EMC, respectively, with respect to the related Mortgage Loans and to the holder of the Subordinate Notes with respect to the PHH Mortgage Loans.