Servicing-Released Basis definition
Servicing-Released Basis means the method or basis for the sale of the Loan whereby all rights, obligations, liabilities, and responsibilities in connection with the servicing and administration of the Loan is released, relinquished, sold, transferred, conveyed and assigned by Seller of the Loan to Buyer.
Servicing-Released Basis means the method or basis for the sale of Loan whereby all rights, obligations, liabilities, and responsibilities in connection with the servicing and administration of a loan are released, relinquished, sold, transferred, conveyed and assigned by the seller of the loan to the buyer.
Examples of Servicing-Released Basis in a sentence
All Transferred Loans will be sold, transferred, conveyed and assigned to Buyers on a Servicing-Released Basis.
All Phase II Transferred Loans will be sold, transferred, conveyed and assigned to Buyers on a Servicing-Released Basis.