Examples of Serviced Mortgage Loan in a sentence
Except as otherwise provided herein (including the Purchaser Payment Cap) or in the Servicing Transfer Agreement, Sellers, on the one hand, and Purchaser, on the other hand, shall each be responsible for 50% of all costs and expenses of transferring the Purchased Mortgage Servicing to Purchaser, including (i) transferring the servicer status of any Serviced Mortgage Loan registered on MERS from Sellers to Purchaser, (ii) preparingpurchaser payment cap (the “Purchaser Payment Cap”), as defined in the APA.
If a Specially Serviced Mortgage Loan becomes a Corrected Mortgage Loan, the Primary Servicer shall commence servicing such Corrected Mortgage Loan pursuant to the terms of this Agreement.
Each Party shall promptly notify the other Parties of any claim, threatened claim or litigation against a Seller, the Purchaser or any of their respective employees, officers, agents and representatives arising out of or in any way related to any Serviced Mortgage Loan or Servicing Rights purchased by Purchaser that may come to its attention.
All the information included in the Serviced Mortgage Loan Data Tape is, and in the Monthly Serviced Mortgage Loan Data Tapes will be, true and correct in all material respects as of January 31, 2012 or, with respect to any Monthly Serviced Mortgage Loan Data Tape, as of the applicable month-end date to which such Monthly Serviced Mortgage Loan Data Tape relates.
At such time as any Mortgage Loan becomes a Specially Serviced Mortgage Loan, the obligations and duties of the Primary Servicer set forth herein with respect to such Specially Serviced Mortgage Loan that are required to be performed by the Special Servicer under the Pooling and Servicing Agreement shall cease in accordance with Section 3.01(c) of this Agreement.