Common use of Agency Approvals; Servicing Clause in Contracts

Agency Approvals; Servicing. Seller shall maintain its status with Xxxxxx Xxx as an approved lender and Xxxxxxx Mac as an approved seller/servicer, in each case in good standing (“Agency Approvals”). Servicer shall service all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guide. Should Servicer, for any reason, cease to possess all such applicable Agency Approvals, or should notification to the relevant Agency or to the HUD, FHA or VA be required, such Seller shall so notify Administrative Agent immediately in writing. Notwithstanding the preceding sentence, Servicer shall take all necessary action to maintain all of their applicable Agency Approvals at all times during the term of this Agreement and each outstanding Transaction. Servicer shall maintain 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.

Agency Approvals; Servicing. Seller shall cause Servicer to maintain its status with Xxxxxx Xxx as an approved lender and seller/servicer, Xxxxxxx Mac as an approved seller/servicerservicer and GNMA as an approved issuer to the extent previously approved, in each case in good standing (“Agency Approvals”)standing. Servicer shall service all Purchased Mortgage Loans which are Committed Related Mortgage Loans in accordance with the applicable agency guideAgency Guide. Should Servicer, for any reason, cease to possess all such applicable Agency Approvals, or should a change in insurance coverage require notification to the relevant Agency or to the HUDDepartment of Housing and Urban Development, FHA or VA be required, such Seller shall so notify Administrative Agent Purchaser immediately in writing. Notwithstanding the preceding sentence, Servicer shall take all necessary action to maintain all of their its applicable Agency Approvals at all times during the term of this Agreement and each outstanding Transactionsale of a Participation Certificate. Servicer shall maintain 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 Related Mortgage Loans and in accordance with Accepted Servicing Practices.

Agency Approvals; Servicing. Seller shall cause Servicer to maintain its status with Xxxxxx Xxx as an approved lender and Xxxxxxx Mac Fxxxxx Mxx as an approved seller/servicer, Fxxxxxx Mac as an approved seller/servicer and GNMA as an approved issuer to the extent previously approved, in each case in good standing (“Agency Approvals”)standing. Servicer shall service all Purchased Mortgage Loans which are Committed Related Mortgage Loans in accordance with the applicable agency guideAgency Guide. Should Servicer, for any reason, cease to possess all such applicable Agency Approvals, or should a change in insurance coverage require notification to the relevant Agency or to the HUDDepartment of Housing and Urban Development, FHA FHA, RD or VA be required, such Seller shall so notify Administrative Agent Purchaser immediately in writing. Notwithstanding the preceding sentence, Servicer shall take all necessary action to maintain all of their its applicable Agency Approvals at all times during the term of this Agreement and each outstanding Transactionsale of a Participation Certificate. Servicer shall maintain 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 Related Mortgage Loans and in accordance with Accepted Servicing Practices.

Agency Approvals; Servicing. Seller MortgageIT shall maintain its status with Xxxxxx Xxx as an approved lender and Xxxxxxx Mac as an approved seller/servicer, in each case in good standing (“Agency Approvals”)standing. Servicer MortgageIT shall service or cause to be serviced all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guide. Should ServicerMortgageIT, for any reason, cease to possess all such applicable Agency Approvals, or should notification to the relevant Agency or to the HUDDepartment of Housing and Urban Development, FHA or VA be required, such Seller MortgageIT shall so notify Administrative Agent Buyer immediately in writing. Notwithstanding the preceding sentence, Servicer such Seller shall take all necessary action to maintain all of their its applicable Agency Approvals at all times during the term of this Agreement and each outstanding Transaction. Servicer shall maintain MortgageIT 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.