Servicing Release Fee definition

Servicing Release Fee means the fee payable to the Lender from the Servicer upon the Purchase of a Mortgage Loan in an amount agreed upon by the Servicer and the Lender.
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Servicing Release Fee means, with respect to a Program, the fee, if any, payable by the Servicer to the Participating Lending Institution or the Division, as the case may be, pursuant to Sections 4.07 and 4.12(k) hereof as compensation for its transfer and assignment to the Servicer of the right to service such Mortgage Loan, in the amount specified in the applicable Program Supplement.
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Servicing Release Fee means the amount paid to the originating lender by the Board or Master Servicer to purchase the rights to service a Mortgage Loan, as specified in the Term and Conditions.
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Examples of Servicing Release Fee in a sentence

  • To the extent provided in the applicable Program Supplement, on the Purchase Date the Division and/or Participating Lending Institution, as appropriate, also shall receive the Servicing Release Fee, as described in Section 4.12(q) hereof.

  • To the extent and under the circumstances provided in the applicable Program Supplement, upon the purchase of a Mortgage Loan, the Servicer shall pay or cause to be paid the Servicing Release Fee to the Participating Lending Institution as compensation for the release of servicing by the Participating Lending Institution.

  • The Lender shall pay to the Fund a fee of one-half of one percent of the principal amount of the ProLoan as a Servicing Release Fee, payable on the date that a ProLoan application is accepted.

  • Lender shall pay to the Fund a Servicing Release Fee in the amount and on the date as set forth on the Terms Sheet.