True Excess Spread definition

True Excess Spread. The rights of Seller related to the Mortgage Loans, severable from each (and all) of the other rights under the applicable Servicing Agreements, to the Servicing Spread minus the applicable Base Servicing Fees.
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True Excess Spread. As defined in the related TESPA.
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Examples of True Excess Spread in a sentence

  • On or prior to the related Closing Date, Seller will have obtained all necessary approvals and consents, including the consent of the Agency, to the sale of the applicable True Excess Spread.

  • The sale of the True Excess Spread is not undertaken to hinder, delay or defraud any of the creditors of Seller.

  • For the avoidance of doubt, Losses under this Section 10.01 shall include the fair value of any True Excess Spread associated with any Mortgage Servicing Rights as to which the Seller resigns without the consent of the Purchaser or is terminated by the Agency pursuant to a Termination With C▇▇▇▇.

  • Within twenty (20) days after the end of each month or as soon thereafter as reasonably practicable, Seller shall deliver a report listing the valuations of each True Excess Spread related to the Mortgage Servicing Rights as determined by a Valuation Agent.

  • The consideration received by Seller upon the sale of the True Excess Spread constitutes fair consideration and reasonably equivalent value therefor.

  • The Seller warrants and will defend the right, title and interest of the Purchaser in and to the True Excess Spread against all adverse claims and demands subject to Permitted Liens.

  • To the extent relevant to the True Excess Spread and the Reference Spread, Payor shall, or shall cause Subservicer, to provide Payee with copies of all notices and reports deliverable to Payor pursuant to the Subservicing Agreement within the timeframe set forth in the subservicing for delivery by Subservicer to Payor.

  • The Purchase Price shall be payable by the Purchaser (or the Purchaser’s designee) to the Seller (or to the Loan Seller pursuant to the applicable MSR Purchase Agreement) on the related Closing Date, but shall not be duplicative of the Purchase Price already paid for the True Excess Spread associated with the Recaptured Mortgage Loan.

  • The transaction contemplated by this Confirmation shall be governed by that certain True Excess Spread Acquisition Agreement for FNMA Mortgage Loans, dated as of [__], 2023, between Seller and Purchaser (as amended herein and otherwise, the “Agreement”).

  • It is the intention of the Parties that, at the option of Purchaser, the arrangement under which the True Excess Spread is held will be treated as a simple custodial or participation arrangement.