Servicing Activities definition

Servicing Activities means with respect to the First Trust Agreement and the Servicing Agreement, any of the following:

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Servicing Activities means actions with direct or potential customer impact, including but not limited to foreclosure, bankruptcy, eviction, payment processing, customer communications, collections, property inspections and preservation, homeowner’s insurance, tax payments, escrow account maintenance, and loss mitigation for loans serviced by Servicer.

Servicing Activities means disbursing loan proceeds; monitoring payments due; communicating with and responding to a borrower, a borrower's heirs, and a borrower's family members; determining whether a borrower continues to occupy a property as a principal residence; managing delinquencies and defaults; initiating, assisting, or facilitating a foreclosure; or performing any other service required by the lender or by the terms of the reverse mortgage loan agreement.

Examples of Servicing Activities in a sentence

Servicer shall also ensure that Third-Party Providers require any Fourth- Party Provider to disclose to the Third-Party Provider any imposition of sanctions or professional disciplinary action taken against the Fourth-Party Provider for misconduct related to the performance of Servicing Activities, and Servicer must require Third-Party Providers to disclose any such sanctions or disciplinary actions to Servicer.
Servicer shall require Third-Party Providers to notify Servicer of any material deficiencies in the Servicing Activities provided by Fourth-Party Providers, of which a Third-Party Provider becomes aware as a result of audits or otherwise.
Servicer shall require its Third-Party Providers to provide to Servicer routine reports, no less than quarterly, of written consumer complaints received by the Third-Party Provider, along with any response, that relate to Servicing Activities.
Consumer complaints (including responses) received by Servicer relating to the performance of Servicing Activities by a Third-Party Provider or Fourth-Party Provider shall be considered by Servicer as part of its periodic review.
Servicer shall ensure that all information provided by Servicer to Third- Party Providers in connection with providing Servicing Activities is accurate and complete, and Servicer shall require that Third-Party Providers provide accurate and complete information to any Fourth-Party Providers.
Servicer shall require Third-Party Providers to disclose to Servicer any imposition of sanctions or professional disciplinary action taken against them for misconduct related to the performance of Servicing Activities.
A review of all regulatory actions relating to the Third-Party Provider’s performance of Servicing Activities.
Servicer shall require Third- Party Providers to notify Servicer when they retain vendors (“Fourth-Party Providers”) to conduct Servicing Activities on behalf of Servicer.
Servicer shall not enter into a contractual relationship for Servicing Activities with a Third-Party Provider unless it is the result of an arm’s-length transaction among unrelated entities or the associated fees do not exceed the lesser of (a) any fee limitation or allowable amount for the service under applicable state law, or (b) the market rate for the service.
Servicer shall ensure that Third-Party Providers require Fourth-Party Providers to disclose written consumer complaints relating to Servicing Activities to the Third-Party Provider, along with any response.

More Definitions of Servicing Activities

Servicing Activities means all services described by the Bank Service Corporation Act, 12 U.S.C. §§ 1861 to 1867, including but not limited to loan receiving and posting customer loan payments, preparation of reports, and collection activities;

Servicing Activities. Those servicing, administrative and related functions in connection with the Loans as are delegated to Subservicer pursuant to this Agreement.

Servicing Activities means issuing Prepaid Cards, loading and unloading Prepaid Cards (including Loading Transactions and Disbursement Authorizations), terminating Prepaid Cards as necessary, and supporting customer services for customer service calls transferred from Better related to servicing and troubleshooting card-related issues, and any other obligations pursuant to this Agreement.

Servicing Activities. Those servicing, administrative and related functions in connection with the Loans as are delegated to GMACM pursuant to this Agreement.