Common use of Agency Approvals; Servicing Clause in Contracts

Agency Approvals; Servicing. Seller shall maintain its status with Xxxxxx Xxx as an approved seller/servicer, Xxxxxxx Mac as an approved seller/servicer and GNMA as an approved issuer to the extent previously approved, in each case in good standing. Subservicer shall service all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guide. Should Subservicer, 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 Department of Housing and Urban Development, FHA, VA or RD be required, such Seller shall so notify Buyer immediately in writing. Notwithstanding the preceding sentence, Subservicer 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. Subservicer 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 and Underlying Repurchase Counterparty, as applicable, shall maintain its status with Xxxxxx Xxx as an approved seller/servicer, Xxxxxxx Mac as an approved seller/servicer and GNMA as an approved issuer to the extent previously approved, in each case in good standing. Subservicer Servicer shall service all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guide. Should SubservicerServicer, for any reason, cease to possess all such applicable Agency Approvalsapprovals, or should a change in insurance coverage require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA, FHA or VA or RD be required, such Seller shall so notify Buyer immediately in writing. Notwithstanding the preceding sentence, Subservicer Servicer shall take all necessary action to maintain all of their applicable Agency Approvals approvals at all times during the term of this Agreement and each outstanding Transaction. Subservicer 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 maintain its status related to single family mortgage loans with Xxxxxx Xxx Fxxxxx Mxx as an approved seller/servicer, Xxxxxxx Fxxxxxx Mac as an approved seller/servicer and GNMA Gxxxxx Mxx as an approved issuer to the extent previously approved, in each case in good standing. Subservicer Servicer shall service all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guideAgency Guide. Should SubservicerServicer, 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 Department of Housing and Urban Development, FHA, VA or RD be required, such Seller shall so notify Buyer Administrative Agent immediately in writing. Notwithstanding the preceding sentence, Subservicer 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. Subservicer 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 and Underlying Repurchase Counterparty, as applicable, shall maintain its status with Xxxxxx Xxx as an approved seller/servicer, Xxxxxxx Mac as an approved seller/servicer and GNMA as an approved issuer to the extent previously approved, in each case in good standing. Subservicer Servicer shall service all Purchased Mortgage Loans which are Committed Mortgage Loans in accordance with the applicable agency guide. Should SubservicerServicer, for any reason, cease to possess all such applicable Agency Approvalsapprovals, or should a change in insurance coverage require notification to the relevant Agency or to the Department of Housing and Urban Development, FHA, VA or RD be required, such Seller shall so notify Buyer immediately in writing. Notwithstanding the preceding sentence, Subservicer Servicer shall take all necessary action to maintain all of their applicable Agency Approvals approvals at all times during the term of this Agreement and each outstanding Transaction. Subservicer 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.