Common use of Agency repurchase Clause in Contracts

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.

Agency repurchase. (1) The lenderLend- er’s servicing fee will stop on the date that interest Interest was last paid by the borrower Bor- rower when the Agency purchases the guar- anteed guaranteed portion of the loan from a hold- erHolder. The lender Lender cannot charge such serv- icing servicing fee to the Agency and must apply all loan payments and collateral pro- ceeds Collateral proceeds received to the guaranteed and unguaranteed portions of the loan on a pro rata Pro Rata basis.