Servicer Modification definition

Servicer Modification. A modification to the terms of a Mortgage Loan, in accordance with the terms of Section 3.01, as to which the Mortgagor is in default or as to which, in the judgment of the Servicer, default is reasonably foreseeable.
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Servicer Modification means any action by the Servicer, which constitutes any breach of Section 4.01, 4.02, 4.03, 4.04, 4.05 or 4.06 hereof.
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Servicer Modification means, solely with respect to the Series 2019-T2 Notes, modifications to the Transaction Documents to provide for (i) Nationstar, (ii) SPS or an affiliate thereof, (iii) SLS or an affiliate thereof, and/or (iv) NRZ or any subsidiary of NRZ to become the named servicer under any Designated Servicing Agreement (so long as, in the case of NRZ or any subsidiary of NRZ becoming a named servicer, either Nationstar, SLS (or an affiliate thereof), SPS (or an affiliate thereof), PMC or an OFC-Owned Servicer services the related Mortgage Loans as a subservicer). After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements.
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Examples of Servicer Modification in a sentence

  • Master Servicer, Seller, Special Servicer, Modification Oversight Agent and Servicers May Own Certificates........................................................90 ARTICLE VIII DEFAULT.............................................................................................91 SECTION 8.01.

  • As to any defaulted Mortgage Loan, the Servicer must account to, and report in writing to, the Master Servicer as to any Realized Loss (or gain) upon the Liquidation, Deficient Valuation or Servicer Modification in respect of such Mortgage Loan.

  • Processes of behavior change and weight loss in a theory-based weight loss intervention program: a test of the process model for lifestyle behavior change.

  • An Advance in respect of principal and/or interest (or other amounts) which are subsequently forgiven as a Servicer Modification shall be deemed a Non-Recoverable Advance.

  • University Admissions Transparency ACU delivers best practice in admissions transparency, having invested in a user experience based online environment, to design content to meet and exceed student expectations and transparency requirements.

  • Effective as of the Amendment Effective Date (as defined below), Section 12.1(a)(xi) of the Indenture is hereby amended by deleting the words “the new issuance” and replacing such words with “such Potential Restructuring or Servicer Modification, as applicable,”.

  • After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements.


More Definitions of Servicer Modification

Servicer Modification. With respect to any Mortgage Loan in default, or where default is reasonably foreseeable, is a modification permitted by the Servicer of such Mortgage Loan to reduce its principal balance and/or extend its term to a term not longer than the latest maturity date of any other Mortgage Loan. Any such principal reduction will constitute a Realized Loss at the time of such reduction. An extension of the term will not result in a Realized Loss unless coupled with a principal reduction.
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Servicer Modification. A modification to the terms of a Mortgage Loan, in accordance with the terms of the applicable Servicing Agreement.
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Servicer Modification. Any modification to the Transaction Documents to provide for (i) Nationstar, (ii) SPS or an affiliate thereof, (iii) SLS or an affiliate thereof, (iv) Xxxxxx or an affiliate thereof and/or (v) NRZ or any subsidiary of NRZ to become the named servicer under any Designated Servicing Agreement (so long as, in the case of NRZ or any subsidiary of NRZ becoming a named servicer, either Nationstar, SLS (or an affiliate thereof), SPS (or an affiliate thereof, Xxxxxx (or an affiliate thereof), OLS or an OFC-Owned Servicer services the related Mortgage Loans as a subservicer). After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements.
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Servicer Modification means, for purposes of the Series 2015-T4 Notes, one or more restructurings of any or all of the Transaction Documents to provide for (i) Nationstar Mortgage LLC and/or (ii) NRZ or any subsidiary of NRZ to become the named servicer under any Designated Servicing Agreement (so long as, in the case of NRZ or any subsidiary of NRZ becoming a named servicer, either Nationstar Mortgage LLC, OLS or an OFC-Owned Servicer services the related Mortgage Loans as a subservicer). After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements.
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Servicer Modification. One or more restructurings of any or all of the Transaction Documents to provide for Nationstar to become the named servicer under any Designated Servicing Agreement. After giving effect to any Servicer Modification, there may be multiple named servicers under the Designated Servicing Agreements. 50
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Related to Servicer Modification

  • Contract Modification means any changes in the terms or provisions of the Contract which are reduced to writing and fully executed by both parties.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Subservicing Agreement The written contract between the Master Servicer and any Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02, generally in the form of the servicer contract referred to or contained in the Program Guide or in such other form as has been approved by the Master Servicer and the Depositor.