Common use of Amounts Retained by Servicers or Sellers Clause in Contracts

Amounts Retained by Servicers or Sellers. (a) To the extent provided by contractual arrangement with Xxxxxxx Mac, the servicer of each Mortgage will be entitled to retain each month, as a servicing fee, any interest payable by the borrower on a Mortgage that exceeds the servicer's required remittance to Xxxxxxx Mac. Each servicer is required to pay all expenses incurred by it in connection with its servicing activities and will not be entitled to reimbursement for those expenses, except as provided in Section 3.08(c). If a servicer advances any principal and/or interest on a Mortgage to Xxxxxxx Mac prior to the receipt of such funds from the borrower, the servicer may retain (i) from prepayments or collections of delinquent principal on such Mortgage any payments of principal so advanced, or (ii) from collections of delinquent interest on such Mortgage any payments of interest so advanced. To the extent permitted by its servicing agreement, the servicer is entitled to retain as additional compensation certain incidental fees related to Mortgages it services.

Amounts Retained by Servicers or Sellers. (a) To the extent provided by contractual arrangement with Xxxxxxx Freddie Mac, the servicer of each Mortgage will be entitled to retain each month, as a servicing fee, any interest payable by the borrower on a Mortgage that exceeds the servicer's required remittance to Xxxxxxx Freddie Mac. Each servicer is required to pay all expenses incurred by it in connection with its servicing activities and will not be entitled to reimbursement for those expenses, except as provided in Section 3.08(c). If a servicer advances any principal and/or interest on a Mortgage to Xxxxxxx Freddie Mac prior to the receipt of such funds from the borrower, the servicer may retain (i) from prepayments or collections of delinquent principal on such Mortgage any payments of principal so advanced, or (ii) from collections of delinquent interest on such Mortgage any payments of interest so advanced. To the extent permitted by its servicing agreement, the servicer is entitled to retain as additional compensation certain incidental fees related to Mortgages it services.

Amounts Retained by Servicers or Sellers. (a) To the extent As provided by contractual arrangement with Xxxxxxx Mac, the servicer of each Mortgage will be entitled to retain each month, as a servicing fee, any interest payable by the borrower on a Mortgage that exceeds the servicer's required remittance to Xxxxxxx Mac. Each servicer is required to pay all expenses incurred by it in connection with its servicing activities and will not be entitled to reimbursement for those expenses, except as provided in Section 3.08(c). If a servicer advances any principal and/or interest on a Mortgage to Xxxxxxx Mac prior to the receipt of such funds from the borrower, the servicer may retain (i) from prepayments or collections of delinquent principal on such Mortgage any payments of principal so advanced, or (ii) from collections of delinquent interest on such Mortgage any payments of interest so advanced. To the extent permitted by its servicing agreement, the servicer is entitled to retain as additional compensation certain incidental fees related to Mortgages it services.