Servicing Release Premium definition

Servicing Release Premium means the amounts determined pursuant to Exhibit A hereto, to be paid by the Servicer to Mortgage Lenders at the time of loan purchase for release of the Mortgage Lender’s servicing rights to the Servicer at the Authority’s direction, in connection with each Mortgage Loan originated or purchased by Servicer. Exhibit A may be amended from time to time by the Authority, in its sole discretion.

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Servicing Release Premium means the fee included within the purchase price as compensation to the Originator for release of the right to service the Mortgage Loan.

Servicing Release Premium means the fee included within the Purchase Price as compensation to the Originator for release of the right to service the Mortgage Loan, which shall be based on a sliding scale in an amount equal to 1.50% to 2.00% of the principle amount of the Mortgage Loan on those with FHA Insurance, Rural Development Guaranty or 1.00% to 1.50% of the principle amount of the Conventional Mortgage Loans purchased by the Authority.

Examples of Servicing Release Premium in a sentence

Mortgage Loans to mortgagors not receiving Entry Costs Assistance shall be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest and (ii) the applicable Servicing Release Premium.
Mortgage Loans to mortgagors receiving Entry Cost Assistance will be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest, (ii) the applicable Servicing Release Premium, and (iii) the amount of cash assistance provided by the Mortgage Lender for such Loan, as directed by the Authority.
If a Mortgage Loan is refinanced within the first six months of Utah Housing purchasing the Mortgage Loan by the same Lender from whom Utah Housing purchased the Mortgage Loan, Utah Housing may require the Lender to reimburse the Servicing Release Premium (SRP) paid to the Lender at the time the Mortgage Loan was purchased.
At loan purchase, Mortgage Lenders will be paid 0.25% of the Servicing Release Premium as additional compensation to earn a total of 2.25% per loan.
The Servicer shall acquire Mortgages from Mortgage Lenders pursuant to the Program Documents and sell each MBS to the entity designated by the Department pursuant to Appendix A and in consideration of its being designated as Servicer hereunder and delivery of this Agreement shall pay to the Department the Servicing Release Premium (excluding Second Lien Mortgages).
The Premium Discount Percent shall be equal to a fraction, the numerator of which is the sum of (a) the Servicing Release Premium, plus (b) Premium/Discount on Loans, plus (c) Discount/Premium Points achieved on the sale of the Loans Held for Sale, minus the principal value of any Loans Held for Sale not sold, and the denominator of which is the principal balance of all Loans Held for Sale at Closing.
Correspondent agrees that DIME may, at its option, deduct from any Servicing Release Premium payment, and/or bonus payment due Correspondent, any moneys paid by DIME on behalf of Correspondent, or due DIME based upon Correspondent's failure to perform under the terms of this Agreement, the Dime Correspondent Manual and/or any related Commitment.

More Definitions of Servicing Release Premium

Servicing Release Premium means the fee for release of servicing paid by the Servicer in the amounts and manner set forth in the Servicing Agreement.

Servicing Release Premium means the fee included within the purchase price paid by the Master Servicer as compensation to a Lender for release of the right to service a Mortgage Loan, which shall be equal to 1.50% of the principal amount of the Mortgage Loan on those with FHA Insurance, USDA-RD Guaranty and 1.25% of the principal amount of the Conventional Mortgage Loans

Servicing Release Premium means the compensation/fee payable to the Department for the sale of the Servicing Rights.

Servicing Release Premium means that fee paid by the Master Servicer to a Lender in connection with the purchase of a Mortgage Loan, thus releasing the servicing rights for such Mortgage Loan, which fee shall be in an amount specified in the Program Guidelines.

Servicing Release Premium means the amount in addition to the Purchase Price that Purchaser pays, if any, to obtain a Mortgage Loan without reservation by Seller of the servicing right for such Mortgage Loan.