Servicing Income definition

Servicing Income means, with respect to any Mortgage Loan, all Servicing Fees and Ancillary Income payable to the Borrower as servicer (as applicable) pursuant to the applicable Servicing Contract. For the avoidance of doubt, Servicing Income shall not include reimbursements of Servicing Advance Receivables.
Sample 1Sample 2Sample 3
Servicing Income means, with respect to any Mortgage Loan, all Servicing Fees and Ancillary Income payable to the Guarantor as servicer (as applicable) pursuant to the Xxxxxx Xxx Agency Guide.
Sample 1
Servicing Income means, with respect to any Mortgage Loan, all Servicing Fees and Ancillary Income payable to the Borrower as servicer (as applicable) pursuant to the Fannie Mae Agency Guide.
Sample 1Sample 2

Examples of Servicing Income in a sentence

  • Any Issuer that executes a transaction where the Issuer’s Servicing Income serves as security for a loan or that in any way encumbers the Issuer’s Servicing Income, must notify its Account Executive about such transaction via email no later than the date that is 15 business days after to the date that the transaction agreement is executed.

  • Servicing fee income, which is reported on the income statement as Loan Servicing Income, is recorded for fees earned for servicing loans.

  • Growth of Sales of Used Cars, Interest Income, Servicing Income, and Gain on Sale of Loans were the primary contributors to the increase.

  • After securities are issued, an Issuer may pledge its rights to Servicing Income as security for a loan, unless Ginnie Mae has entered into an Acknowledgment Agreement with the Issuer pursuant to MBS Guide, Ch. 21, Part 6.

  • It is noted that had the Company only included the additional reimbursements in the Claim Servicing Income (Loss) calculation, the net loss during the period January 1, 2005 through September 30, 2008 would have been $16,228,829.

  • Ginnie Mae does not permit Issuers to sell their Servicing Income.

  • The amount of the servicing income will decrease each year as the amount of the mortgage balances decrease..Entries Cash (or Accrued Receivable) $135,000 Servicing Income $135,000Servicing Costs $35,000Cash (or Accrued Expenses) $35,000Amortization Expense $5,653 Accumulated Amortization $5,653Also see the example at paragraph 50 for details of the sale of loans with servicing retained by the seller.Swap Example from BankExecIAS 393.

  • As a one-time requirement, any Issuer that has executed a transaction where the Issuer’s Servicing Income serves as security for a loan or that in any way encumbers the Issuer’s Servicing Income, prior to November 8, 2018 must notify its Account Executive about such transaction via email no later January 15, 2019.

  • Seller shall or shall cause its Subservicer to deduct from each monthly payment received from each Mortgagor, an amount equal to the Servicing Income payable to Purchaser pursuant to the Agency Requirements.

  • In addition, on February 26, 2014, we issued $123.6 million of Ocwen Asset Servicing Income Series (OASIS), Series 2014-1 Notes secured by Ocwen-owned MSRs relating to Freddie Mac mortgages of $11.8 billion UPB.


More Definitions of Servicing Income

Servicing Income. All servicing fees earned, subservicing fees earned and Ancillary Income, in each case to the extent derived from or related to the Mortgage Loans, as reduced by any compensating interest payments required to be made by SPS related to the Mortgage Loans. Servicing Income for the applicable month shall be itemized and shown on each Monthly Contingent Payment report delivered pursuant to Section 3(a). Subject to Section 7(b), all components of Servicing Income shall be charged, collected, calculated and applied in a manner consistent with methods utilized by SPS during the six months immediately preceding the Option Closing Date, consistently applied.
Sample 1Sample 2
Servicing Income means, with respect to the Eligible Pledged Servicing Receivables at any time, all income from servicing the Mortgage Loans, consisting of the spread between interest actually collected from mortgagors and interest required to be paid to holders of the corresponding Xxxxxx Mae MBS, including any Ancillary Income, prepayment charges payable to the Borrower as servicer (as applicable), and all Surplus Proceeds excluding, in any case, (i) any guaranty fees payable to any Agency and (ii) any Advance Reimbursement Amounts.
Sample 1

Related to Servicing Income

  • Depreciation and Amortization means the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Consolidated Amortization Expense means, for any period, the amortization expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Period Servicing Amount means, for any twelve month period with respect to each of the Shared-Loss Agreements during which the loss-sharing provisions of the applicable Shared-Loss Agreement are in effect, the product of (i) the simple average of the principal amount of Shared-Loss Loans and Shared-Loss Assets (other than the Shared-Loss Securities) (in each case as defined in the Shared-Loss Agreements), as the case may be, at the beginning of such period and at the end of such period times (ii) one percent (1%).

  • Primary Servicing Fee Rate means, with respect to each Mortgage Loan, the rate that corresponds to such Mortgage Loan set forth on Exhibit A hereto under the heading “Primary Servicing Fee.”

  • Servicing Fee means the fee payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement.

  • Master Servicer Remittance Amount With respect to each Master Servicer and each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in such Master Servicer’s Collection Account as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan serviced by such Master Servicer that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property serviced by such Master Servicer after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan serviced by such Master Servicer with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from such Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a), and (vi) any amounts deposited in such Collection Account in error; provided that the Master Servicer Remittance Amount with respect to such Master Servicer for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Servicing Fee Rate With respect to each Mortgage Loan, 0.50% per annum.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Assumed Monthly Payment With respect to (a) any Mortgage Loan that is a Balloon Mortgage Loan delinquent in respect of its Balloon Payment beyond the Determination Date immediately following its scheduled maturity date (as such date may be extended in connection with a bankruptcy, insolvency or similar proceeding involving the related Borrower or by reason of a modification, waiver or amendment granted or agreed to by the applicable Master Servicer or the applicable Special Servicer), for that scheduled maturity date and for each subsequent Due Date as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due with respect to such Mortgage Loan on such Due Date equal to the amount (exclusive of Default Interest and any Post-ARD Additional Interest) that would have been due in respect thereof on such Due Date if such Mortgage Loan had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule (if any), in effect immediately prior to, and without regard to the occurrence of, such maturity date; and (b) any REO Mortgage Loan, for any Due Date as of which the related REO Property (or, in the case of any REO Mortgage Loan that is a successor to any Mortgage Loan in a Loan Combination, any interest in the related REO Property) remains part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Monthly Payment (or, in the case of a Balloon Mortgage Loan described in clause (a) of this definition, the Assumed Monthly Payment) that was due (or deemed due) with respect to the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Seller Remittance Amount With respect to each Servicer, the meaning assigned to such term in the related Servicing Agreement.

  • Servicing Base Amount shall have the meaning specified in Section 3.01.

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.