Serviced Loan definition

Serviced Loan. A Serviced Mortgage Loan or Serviced Companion Loan.

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Serviced Loan means a residential mortgage loan (i) that is evidenced by a Mortgage Note and secured by a Mortgage, (ii) with respect to which a Selling Company owns the Servicing as of the Closing Date and (iii) which is included in the Retained Servicing Portfolio.

Serviced Loan means any Loan (including a Specially Serviced Loan, but excluding an REO Loan) that is, as contemplated by Section 3.01, to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder, which includes the Mortgage Loans (other than the Non-Serviced Trust Loans) and the Companion Loans (other than the Non-Serviced Companion Loans).

Examples of Serviced Loan in a sentence

• The servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant to the Lead Securitization Servicing Agreement.

• The Special Servicing Fee with respect to any Specially Serviced Loan or REO Loan shall cease to accrue if a Liquidation Event occurs in respect thereof.

• If the Special Servicer is terminated or resigns, it shall retain the right to receive any and all Workout Fees payable in respect of Loans that became Corrected Loans prior to the time of such termination or resignation, except the Workout Fees will no longer be payable if the Loan subsequently becomes a Specially Serviced Loan.

• The Servicing Fee shall be payable monthly on the Remittance Date (or earlier pursuant to the related Partition Agreement) of each month and shall be computed on the basis of the same outstanding principal balance and for the period with respect to which any related interest payment on the related Serviced Loan or distribution on the related Serviced Loan is computed.

• To the extent that amounts on deposit in the Collection Account on the Remittance Date are insufficient to pay the Servicing Fee allocated to any Serviced Loan or related REO Loan, the Issuer shall pay any such shortfall to the Servicer within ten (10) Business Days after the Issuer’s receipt of an itemized invoice therefor.

More Definitions of Serviced Loan

Serviced Loan means any Mortgage Loan, chattel loan or other loan for which the Corporation or any of its Subsidiaries is acting as a servicer under a Servicing Agreement.

Serviced Loan means any Transferred Participated Loan with respect to which Seller acts as servicer for the benefit of a Participant under any Participation Agreement.

Serviced Loan means any of the Student Loans identified in Section 2.01 hereof, except for those Student Loans with respect to which this Agreement has been terminated as provided in Section 5.03; provided, however, that a Defaulted Loan shall not be a “Serviced Loan” for purposes of Schedule A.

Serviced Loan means an outstanding mortgage loan that is serviced or subserviced by any of the Acquired Entities under any Mortgage Servicing Agreement.

Serviced Loan means any Mortgage Loan with respect to which the Company Group owns the applicable servicing rights pursuant to a Servicing Agreement.

Serviced Loan. Each of the loans identified on any Loan Schedule.

Serviced Loan means any mortgage loan with respect to which First Chester or any First Chester Subsidiary owns or provides Servicing.