Agency repurchase. (1) The Lend- er’s servicing fee will stop on the date that Interest was last paid by the Bor- rower when the Agency purchases the guaranteed portion of the loan from a Holder. The Lender cannot charge such servicing fee to the Agency and must apply all loan payments and Collateral proceeds received to the guaranteed and unguaranteed portions of the loan on a Pro Rata basis.
(2) If the Agency repurchases 100 per- cent of the guaranteed portion of the loan, the Agency will not continue col- lection of the Annual Renewal Fee from the Lender.
(3) If the Lender does not repurchase the unpaid guaranteed portion of the loan as provided in paragraph (a) of this section, the Agency will purchase from the Holder the unpaid principal balance of the guaranteed portion to- gether with accrued Interest to date of repurchase or the Interest Termination Date, whichever is sooner, less the Lender’s servicing fee, within 30 days after written demand to the Agency from the Holder.
(4) When Xxxxxx has accelerated the account, and subject to the expiration of any forbearance or workout agree- ment, the Lender, or the Agency at its sole discretion, must issue a letter to the Holder(s) establishing the Interest Termination Date. Accrued Interest to be paid to the Holder(s) will be cal- culated from the date Interest was last paid on the loan with a termination date not to exceed the Interest Termi- nation Date.
(5) When the Lender has accelerated the account and the Lender holds all or a portion of the guaranteed loan, an es- timated loss claim (loan in the liquida- tion process) must be filed by the Lend- er with the Agency within 60 days. Ac- crued Interest paid to the Lender will be calculated from the date Interest was last paid on the loan to the Inter- est Termination Date.
(6) The Holder’s demand to the Agen- cy must include a copy of the written demand made upon the Lender. The Holder must also include evidence of its right to require payment from the Agency. Such evidence must consist of either the original of the Loan Note Guarantee properly endorsed to the Agency or the original of the Assign- ment Guarantee Agreement properly assigned to the Agency without re- course including all rights, title, and interest in the loan. When the single- note system is utilized and the initial Holder has sold its interest, the cur- rent Holder must present the original Assignment Guarantee Agreement and an original of each Agency approved re- assignment document in the chain of owne...
Agency repurchase. (1) If the lender does not repurchase as provided in paragraph (a) of this section, the Agen- cy will purchase from the holder the unpaid principal balance of the xxxxxx- xxxx portion together with accrued in- terest to date of repurchase (less the lender’s servicing fee) within 30 days after a specific written demand di- rected to the Agency. The copy of the demand on the lender is not sufficient. The guarantee will not cover the note interest to the holder on the xxxxxx- xxxx loan accruing after 90 days from the date of the original demand letter. The lender shall not charge the Agency any servicing fees nor are any such fees collectible from the Agency.
(2) The holder’s demand to the Agen- cy must include a copy of the written demand made upon the lender. The holder or duly authorized agent must also include evidence of the right to re- quire payment from the Agency. Such evidence will consist of either the original of the Loan Note Guarantee properly endorsed to the Agency or the original of the Assignment Guarantee Agreement properly assigned to the Agency without recourse including all rights, title, and interest in the loan. The Agency will be subrogated to all rights of the holder. The holder must include in the demand the amount due including unpaid principal, unpaid in- terest to date of demand, and interest subsequently accruing from the date of demand to the proposed payment date. Unless otherwise agreed to by the Agency, such proposed payment will not be later than 30 days from the date of demand.
(3) The lender must promptly provide the Agency with the information nec- xxxxxx for the Agency’s determination of the appropriate amount due the holder upon the Agency’s notification to the lender of the holder’s demand for payment. This information must be certified by an authorized officer of the lender. Any discrepancy between the amount claimed by the holder and the information submitted by the lender must be resolved before payment will be approved. The Agency will notify both parties and such conflict will sus- pend the running of the 30-day pay- ment requirement.
(4) Any purchase by the Agency does not change, alter, or modify any of the lender’s obligations to the Agency aris- ing from the loan or guarantee nor does it waive any of the Agency’s rights against the lender. The Agency may set off against the lender all rights inuring to the Agency as the holder of the instrument against the Agency’s obligation to the lender under the Loan Note ...
Agency repurchase. (1) The Lend- er’s servicing fee will stop on the date that Interest was last paid by the Bor- rower when the Agency purchases the guaranteed portion of the loan from a Holder. The Lender cannot charge such servicing fee to the Agency and must apply all loan payments and Collateral proceeds received to the guaranteed and unguaranteed portions of the loan on a Pro Rata basis.
(2) If the Agency repurchases 100 per- cent of the guaranteed portion of the loan, the Agency will not continue col- lection of the Annual Renewal Fee from the Lender.
(3) If the Lender does not repurchase the unpaid guaranteed portion of the loan as provided in paragraph (a) of this section, the Agency will purchase from the Holder the unpaid principal balance of the guaranteed portion to- gether with accrued Interest to date of repurchase or the Interest Termination Date, whichever is sooner, less the Lender’s servicing fee, within 30 days
Agency repurchase. (1) The lender’s servicing fee will stop on the date that interest was last paid by the borrower when the Agency purchases the guar- anteed portion of the loan from a hold- er. The lender cannot charge such serv- icing fee to the Agency and must apply all loan payments and collateral pro- ceeds received to the guaranteed and unguaranteed portions of the loan on a pro rata basis.
(2) If the Agency repurchases 100 per- cent of the guaranteed portion of the loan and becomes the holder, interest accrual on the loan will cease, and the Agency will not continue collection of the annual renewal fee from the lender.
(3) If the lender does not repurchase the unpaid guaranteed portion of the loan as provided in paragraph (a) of this section, the Agency will purchase from the holder the unpaid principal balance of the guaranteed portion to- gether with accrued interest to date of repurchase, less the lender’s servicing fee, within 30 days after written xx- xxxx to the Agency from the holder. For those loans closed on or after Au- gust 2, 2016, the lender or the Agency will issue an interest termination let- ter to the holder(s) establishing the termination date for interest accrual. The guarantee will not cover interest to any holder accruing after the great- er of: 90 days from the date of the most recent delinquency effective date as re- ported by the lender or 30 days from the date of the interest termination letter. Once the holder makes demand upon the Agency, the request cannot be rescinded.
(4) When the guaranteed loan has been delinquent more than 60 days and no holder comes forward, the Agency
Agency repurchase. If the lender does not repurchase the guaranteed portion from the holder, the Agency may, at its option, purchase such guar- anteed portion of the loan for loan
