Agency Approvals; Servicing Facilities Sample Clauses
The 'Agency Approvals; Servicing Facilities' clause establishes the requirement that a party, typically a lender or servicer, must maintain all necessary approvals, licenses, and authorizations from relevant governmental or regulatory agencies to operate and service loans. This includes ensuring that their servicing facilities meet specified standards and remain in compliance with applicable laws and agency guidelines. For example, a mortgage servicer may need to be approved by federal housing agencies and maintain facilities that can securely handle borrower information. The core function of this clause is to ensure that the party responsible for servicing has the legal authority and operational capacity to perform its duties, thereby protecting the interests of all parties and ensuring regulatory compliance.
Agency Approvals; Servicing Facilities. The Borrower has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. The Borrower is approved by each of ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇▇ Mac as an approved seller/servicer, approved by ▇▇▇▇▇▇ Mae as an approved issuer, and, to the extent necessary, approved by the Secretary of HUD pursuant to Sections 203 and 211 of the National Housing Act, as amended. In each such case, the Borrower is in good standing, with no event having occurred, including a change in insurance coverage which would either make the Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to any Agency or to HUD, FHA or VA. Should the Borrower for any reason cease to possess all such applicable approvals, or should notification to any Agency or to HUD, FHA or VA be required, the Borrower shall immediately notify Administrative Agent immediately in writing.
Agency Approvals; Servicing Facilities. Borrower or its subservicer has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Serviced Loans in accordance with the requirements of the applicable Approved Servicing Agreement. With respect to ▇▇▇▇▇▇ ▇▇▇ Servicing Rights and to the extent necessary, Borrower is an FHA Approved Mortgagee and a VA Approved Lender. Borrower is also approved by ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇ ▇▇▇ as an approved lender and ▇▇▇▇▇▇▇ Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act. In each such case, Borrower is in good standing, with no event having occurred or Borrower having any reason whatsoever to believe or suspect will occur, including a change in insurance coverage that would either make Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA or VA. Should Borrower for any reason cease to possess all such applicable approvals, or should notification to the relevant Agency or to HUD, FHA or VA be required, or should any Agency or HUD, FHA or VA threaten in writing to revoke or limit any such applicable approvals, Borrower shall so notify Bank immediately in writing.
Agency Approvals; Servicing Facilities. Borrower has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. With respect to ▇▇▇▇▇▇ ▇▇▇ Servicing Right and to the extent necessary, Borrower is an FHA Approved Mortgagee and a VA Approved Lender. Borrower is also approved by ▇▇▇▇▇▇ Mae and ▇▇▇▇▇▇ ▇▇▇ as an approved lender and ▇▇▇▇▇▇▇ Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act. In each such case, Borrower is in good standing, with no event having occurred or Borrower having any reason whatsoever to believe or suspect will occur, including a change in insurance coverage which would either make Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA or VA. Should Borrower for any reason cease to possess all such applicable approvals, or should notification to the relevant Agency or to the Department of Housing and Urban Development, FHA or VA be required, Borrower shall so notify Lender immediately in writing.
Agency Approvals; Servicing Facilities. The Borrower has adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute ▇▇▇▇▇▇ ▇▇▇ Mortgage Loans and in accordance with Accepted Servicing Practices. The Borrower is approved by ▇▇▇▇▇▇ ▇▇▇ as an approved issuer, and, to the extent necessary, approved by the Secretary of HUD pursuant to Sections 203 and 211 of the National Housing Act, as amended. In each such case, the Borrower is in good standing, with no event having occurred, including a change in insurance coverage which would either make the Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to ▇▇▇▇▇▇ ▇▇▇ or to HUD, FHA or VA. Should the Borrower for any reason cease to possess all such applicable approvals, or should notification to ▇▇▇▇▇▇ ▇▇▇ or to HUD, FHA or VA be required, the Borrower shall immediately notify Administrative Agent immediately in writing.
Agency Approvals; Servicing Facilities. Borrower or its subservicer has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Serviced Loans in accordance with the requirements of the applicable Approved Servicing Agreement. With respect to ▇▇▇▇▇▇ Mae Servicing Rights and to the extent necessary, Borrower is an FHA Approved Mortgagee and a VA Approved Lender. Borrower is also approved by ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇ ▇▇▇ as an approved lender and ▇▇▇▇▇▇▇ Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act. In each such case, Borrower is in good standing, with no event having occurred that would make Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA or VA.
Agency Approvals; Servicing Facilities. The Borrower has adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. The Borrower is approved by Fannie Mae as an approved lender. The Borrower is in ▇▇▇▇ standing, with no event having occurred, including a change in insurance coverage which 742613903 21686243 would either make the Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to Fannie Mae. Should the Borrower for any reason cease ▇▇ ▇▇s▇▇▇s all such applicable approvals, or should any such notification to Fannie Mae be required, the Borrower shall immediate▇▇ ▇▇▇ify Administrative Agent immediately in writing.
Agency Approvals; Servicing Facilities. The Borrower has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. The Borrower is approved by each of ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇▇ Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of HUD pursuant to Sections 203 and 211 of the National Housing Act, as amended. In each such case, the Borrower is in good standing, with no event having occurred, including a change in insurance coverage which would either make the Borrower unable to comply in any material respect with Agency eligibility requirement.
Agency Approvals; Servicing Facilities. The Guarantor has adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. The Guarantor is approved by ▇▇▇▇▇▇ ▇▇▇ as an approved lender. The Guarantor is in 752805876 23733713 good standing, with no event having occurred, including a change in insurance coverage which would either make the Guarantor unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to ▇▇▇▇▇▇ ▇▇▇. Should the Guarantor for any reason cease to possess all such applicable approvals, or should any such notification to ▇▇▇▇▇▇ ▇▇▇ be required, the Guarantor shall immediately notify Administrative Agent immediately in writing.
Agency Approvals; Servicing Facilities. The Borrower has adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans and in accordance with Accepted Servicing Practices. The Borrower is approved by ▇▇▇▇▇▇ ▇▇▇ as an approved lender. The Borrower is in good standing, with no event having occurred, including a change in insurance coverage which would either make the Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to ▇▇▇▇▇▇ ▇▇▇. Should the Borrower for any reason cease to possess all such applicable approvals, or should any such notification to ▇▇▇▇▇▇ ▇▇▇ be required, the Borrower shall immediately notify Administrative Agent immediately in writing.
Agency Approvals; Servicing Facilities. Borrower has adequate financial standing, servicing facilities, procedures and experienced personnel necessary for the sound servicing of mortgage loans of the same types as may from time to time constitute Mortgage Loans in accordance with the requirements of each applicable Approved Servicing Agreement. Borrower is approved by F▇▇▇▇▇ M▇▇ as an approved seller/servicer and Freddie Mac as an approved seller/servicer, and, to the extent necessary, approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act. In each such case, Borrower has complied with the eligibility requirements for maintaining all such Agency approvals, with no event having occurred or Borrower having any reason whatsoever to believe or suspect it will occur, including a change in insurance coverage that would either make Borrower unable to comply with the eligibility requirements for maintaining all such applicable approvals or require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA or VA. B▇▇▇▇▇▇▇’s seller/servicer ID numbers with F▇▇▇▇▇ M▇▇ and Freddie Mac are as set forth on Schedule 1 attached hereto.