Servicing loans definition

Servicing loans means receiving monthly payments of principal and interest and providing them to the Sponsor as the mortgage holder. A Member may also receive payments for escrow of taxes and insurance and remit the annually required payments.
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Servicing loans loans made by the Company or any of its Subsidiaries, in its respective capacity as servicer under any Servicing Agreement, in connection with the servicing and administering of any mortgage loans or any mortgaged property including but not limited to (i) loans of principal and interest payments on mortgage loans and (ii) loans of out-of-pocket costs and expenses incurred by the applicable servicer in respect of mortgage loans in which a default, delinquency or other unanticipated event has occurred or as to which a default is imminent, including, with respect to any underlying mortgaged property, advances necessary for the purpose of effecting the payment of real estate taxes, assessments and other similar items that are or may become a lien thereon, premiums on insurance policies, advances generally known as “emergency advances” or “property protection advances” under any Servicing Agreement, costs of any enforcement or judicial proceedings, maintenance and liquidation of any acquired mortgaged property, extraordinary trust fund expenses, ground rents and similar charges or assessments.
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Servicing loans means the "Loans" as such term is defined in the Servicing Credit Agreement.
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Examples of Servicing loans in a sentence

  • Servicing loans for others generally consists of collecting mortgage payments, disbursing payments to investors and processing foreclosures.


More Definitions of Servicing loans

Servicing loans shall have the meaning given the term "Loans" under the Servicing Credit Agreement.
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Related to Servicing loans

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Servicing Bank means the Agent or the Security Trustee;

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.