Subservicing Account definition

Subservicing Account. An account established by a Subservicer in accordance with Section 3.08.
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Subservicing Account. An account established by a Subservicer pursuant to a Subservicing Agreement, which account must be an Eligible Account.
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Subservicing Account. An Eligible Account established or maintained by a Sub servicer as provided for in Section 3.06(e) of the Servicing Agreement.
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Examples of Subservicing Account in a sentence

  • The Subservicer will be required thereby to deposit into the Subservicing Account on a daily basis all proceeds of Mortgage Loans received by the Subservicer, less its Subservicing Fees and unreimbursed advances and expenses, to the extent permitted by the Subservicing Agreement.

  • If the Subservicing Account is not an Eligible Account, the Master Servicer shall be deemed to have received such monies upon receipt thereof by the Subservicer.

  • On or before the date specified in the Program Guide, but in no event later than the Determination Date, the Master Servicer shall cause the Subservicer, pursuant to the Subservicing Agreement, to remit to the Master Servicer for deposit in the Custodial Account all funds held in the Subservicing Account with respect to each Mortgage Loan serviced by such Subservicer that are required to be remitted to the Master Servicer.

  • The Subservicer shall not be required to deposit in the Subservicing Account payments or collections in the nature of prepayment charges or late charges or assumption fees.

  • The Subservicing Account shall be an Eligible Account and shall otherwise be acceptable to the Servicer.


More Definitions of Subservicing Account

Subservicing Account. As defined in Section 10.06.
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Subservicing Account. As defined in the Servicing Agreement,
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Subservicing Account. As defined in Section 3.08. Fremont [200 - ] Pooling & Servicing Agreement 59
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Subservicing Account. An Eligible Account established or maintained by a -------------------- Subservicer as provided for in Section 3.06(e) of the Servicing Agreement.
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Subservicing Account means any bank or trust account maintained by the Subservicer in connection with the performance of its duties hereunder. Any such account maintained by the Subservicer shall be maintained in the name of the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders, and shall be an Eligible Account.
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Subservicing Account. Any collection, servicing, custodial or escrow account established by GMAC.
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Subservicing Account. As defined in Section 3.02(g).
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