Servicing Business definition

Servicing Business means Sellers’ business of Servicing residential mortgage loans and certain non-real estate secured and unsecured loans.

Servicing Business means the business of servicing mortgage loans presently conducted by the Company, but shall not include loan servicing performed by the Company in the ordinary course of business for the interim following closing of the loan and before the sale of the loan by the Company to an Investor.

Servicing Business has the meaning specified in the Recitals to this Agreement.

Examples of Servicing Business in a sentence

• Seller shall have acquired the Mortgage Servicing Rights from Aurora pursuant to the Residential Servicing Business Asset Purchase Agreement as of the Closing Date.

• If all necessary Owner Consents are not received by the Closing Date, or if the Residential Servicing Business Asset Purchase Agreement is terminated, this Agreement shall be terminated concurrently therewith, without any further action of either Party, and neither Party shall have any further obligations to the other Party hereunder.

• The Parties acknowledge that SMI caused Private ServiceCo to be formed as a wholly owned Subsidiary of SMI on September 12, 2013, for the purpose of holding the Private Loan Servicing Business following the Separation and the Distribution.

• Subject to the rights of the Agency and except as contemplated under the Residential Servicing Business Asset Purchase Agreement with respect to transition services thereunder, Seller will not permit any Person other than Seller to service or sub-service the Mortgage Loans without the prior written consent of Purchaser, in each case other than third-party vendors customarily employed by servicers in the ordinary course of business in accordance with prudent mortgage servicing practices.

• Seller shall have obtained all consents, approvals or other requirements of third parties required for the consummation of the transactions contemplated by the Transaction Documents (other than Owner Consents under the Current Excess Servicing Spread Acquisition Agreement for Non-Agency Loans or as provided in the Residential Servicing Business Asset Purchase Agreement), including Agency approval as contemplated by Section 5.03.

More Definitions of Servicing Business

Servicing Business the North American “servicing” segment of the Company and its Subsidiaries.

Servicing Business. As defined in the recitals hereto. Servicing Rights -- The right to receive the servicing fees and any Ancillary Income the servicer, subservicer or master servicer is entitled to receive arising from or connected to the Mortgage Loans and the related obligations to (i) administer and collect payments for the reduction of principal and interest, (ii) pay taxes and insurance premiums, (iii) remit all amounts

Servicing Business. As defined in the recitals hereto. Servicing Rights -- The right to receive the servicing fees and any Ancillary Income the servicer,

Servicing Business means, collectively, the Phase I Servicing Business and the Phase II Servicing Business.

Servicing Business means the North American “servicing” segment of the Borrower and its Subsidiaries.

Servicing Business means the Servicing of Investments.

Servicing Business means (i) all of the rights and obligations of GMB under each of the Servicing Agreements, including the Servicing Rights; (ii) the Servicing Files; and (iii) the Serviced Loan Suspense Amount.