Examples of Serviced Loan in a sentence
The purchase of a Serviced Loan will be confirmed with the Transaction Confirmation and Loan Funding Activity Report delivered to the Selling PFI on the Funding Date.
This will result in a new Transaction Confirmation and Loan Funding Activity Report for the Serviced Loan.
If the Serviced Loan is not a MOM loan, a recorded assignment with an assigned Mortgage Identification Number (MIN) naming MERS as the nominee will be required.
The MPF Provider may be required to reverse the funding of the Serviced Loan that has been sold in order to correct the loan data.
The Selling PFI will sell the Serviced Loan and transfer the servicing in accordance to the terms of the Participating Financial Institution Agreement ("PFI Agreement") and this manual (“Manual”).