Subservicing Protocol definition

Subservicing Protocol means the terms of this Settlement applicable to servicing remedies, as set forth in Exhibit B.
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Examples of Subservicing Protocol in a sentence

  • Within sixty (60) days of JPMorgan’s approval of an Authorized Subservicer (or within sixty (60) days of the Acceptance Date, if later), JPMorgan shall negotiate with each Approved Subservicer for the purpose of entering into a subservicing agreement that complies materially with the uniform terms mandated by this Subservicing Protocol (each, a “Subservicing Agreement”).

  • JPMorgan shall be permitted to seek approval of the terms of this Subservicing Protocol from the Consumer Finance Protection Bureau, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Office of Mortgage Settlement Oversight and the Monitoring Committee of the National Mortgage Settlement (each, a “Government Agency”).

  • Unless otherwise indicated, costs associated with this Subservicing Protocol set forth herein shall be the responsibility of whichever party bears such costs in the Governing Agreement.

  • Nothing in the Subservicing Protocol or elsewhere in this Settlement Agreement shall prevent JPMorgan from selling some or all of its servicing rights with respect to the Mortgage Loans in the Settlement Trusts at any time, provided that any purchaser must agree to comply with all material aspects of the Subservicing Protocol in connection with the purchase of servicing rights related to the Mortgage Loans in the Settlement Trusts.

  • The Settlement consideration shall consist of (i) a cash payment of FOUR BILLION, FIVE HUNDRED MILLION and no/100 dollars (the “Gross Settlement Amount”), reduced by the sum of the Allocable Shares for all Non-Settling Trusts (the “Settlement Payment”), plus (ii) the value of JPMorgan’s agreement to the Subservicing Protocol.

  • Nothing in this Subservicing Protocol shall require JPMorgan to evaluate more than one Authorized Subservicer for approval at any one time.

  • Any amendment to the Subservicing Agreement that is required to conform it to subsequent changes in applicable law, regulation, or which are commercially necessary or reasonable shall not constitute a breach of this Subservicing Protocol.

  • The Parties do not release or waive any rights or claims against each other to enforce the terms of this Settlement Agreement, including the Subservicing Protocol.

  • For the purpose of this Subservicing Protocol, subject to subparagraph (e), no Approved Subservicer shall be eligible to subservice loans in excess of 40,000 Delinquent Subserviced Loans (the “Active Loan Cap”).

  • JPMorgan shall use commercially reasonable efforts to implement this Subservicing Protocol.

Related to Subservicing Protocol

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Customary Servicing Procedures means procedures (including collection procedures) that the Assuming Institution (or, to the extent a Third Party Servicer is engaged, the Third Party Servicer) customarily employs and exercises in servicing and administering mortgage loans for its own accounts and the servicing procedures established by FNMA or FHLMC (as in effect from time to time), which are in accordance with accepted mortgage servicing practices of prudent lending institutions.

  • Subservicing Agreement The written contract between the Master Servicer and any Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02, generally in the form of the servicer contract referred to or contained in the Program Guide or in such other form as has been approved by the Master Servicer and the Depositor.

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Primary Servicing Agreement means the agreement between the applicable Primary Servicer and the Master Servicer, under which such applicable Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.