Servicing Release Premium definition

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.
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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, 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.
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Examples of Servicing Release Premium in a sentence

  • Upon the Purchase of each Qualified Mortgage Loan, the Authority shall deliver to the Originator the appropriate Servicing Release Premium for the Mortgage Loans.

  • Without limiting the foregoing and in addition thereto, with respect to Non-Qualifying Mortgage Loans described in section 4.10C above, each Originator hereby further covenants and agrees to refund to the Authority any Servicing Release Premium paid by the Authority.

  • 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.

  • Lender compensation will be in the form of a Servicing Release Premium (SRP) equal to 2.50%, effective January 01, 2023.

  • The selected Servicer will pay to Florida Housing a Servicing Release Premium (SRP).

  • The Servicing Release Premium you will pay on the principal balance of each loan at the time of its purchase from the originating lender.

  • Servicing Release Premium means the amount, if any, to be paid to SELLER for the Servicing Rights associated with a Mortgage Loan as specified in writing by PURCHASER.

  • Service Release PremiumsA Servicing Release Premium (“SRP”) is paid net of fees and escrows as outlined in the pricing grid and Funding Memo, which is subject to change upon fourteen (14) calendar day’s written notice.

  • Xxxxxxxx Director of Single-Family Wholesale Lending Date:   Exhibit A – Servicing Release Premium Effective November 1, 2018 (for new reservations) For delivery within 30 days after closing 1.5% OR Minimum of $1,000 For delivery within 31-60 days after closing 1.0% OR Minimum of $750 For delivery within 61-90 days after closing .75% OR Minimum of $500 Delivery means all purchase conditions are cleared.


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

  • Day Delinquent Mortgage Loan Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, three months or more past due (without giving effect to any grace period), including each Mortgage Loan in foreclosure, all REO Property and each Mortgage Loan for which the Mortgagor has filed for bankruptcy.

  • Prepayment Charges Any prepayment premium or charge payable by a Mortgagor in connection with any Principal Prepayment on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable.

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • 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.

  • Delinquent Mortgage Loan The meaning ascribed thereto in Section 11.02.

  • 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.

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Prepayment Charge With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a full or partial prepayment of such Mortgage Loan during a Prepayment Period in accordance with the terms thereof (other than any Servicer Prepayment Charge Payment Amount).

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

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Prepayment Charge Schedule As of any date, the list of Prepayment Charges included in the Trust Fund on such date, attached hereto as Schedule 2 (including the prepayment charge summary attached thereto). The Prepayment Charge Schedule shall set forth the following information with respect to each Prepayment Charge:

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Servicing Reserve means, for any Calculation Period, the product (expressed as a percentage) of (a) the Servicing Fee Rate, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • 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.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Other Servicer Mortgage Loan Any of the Mortgage Loans, if any, identified in Exhibit F-2 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, which Mortgage Loan is serviced under an Other Servicing Agreement.

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

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

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.