Common use of Annual Independent Certified Public Accountants' Servicing Reports Clause in Contracts

Annual Independent Certified Public Accountants' Servicing Reports. (a) On or before March 1 of each year, beginning with March 1, 2001, the Company at its expense shall cause a nationally recognized firm of independent certified public accountants to furnish a report to the Owner to the effect that (i) all Mortgage Loans serviced by the Company were included in the total population of mortgage loans subject to selection for testing in such firm's examination of certain documents and records, that such examination was conducted substantially in compliance with the Uniform Single Attestation Program for Mortgage Bankers and that such examination disclosed no items of material noncompliance with the provisions of the Uniform Single Attestation Program for Mortgage Bankers, except for such items of noncompliance as shall be set forth in such report and (ii) such accounting firm (or another nationally recognized firm) has reviewed the operations and control procedures of the Company relative to the Company's EDP and has determined that such system has been suitably designed to service the Mortgage Loans pursuant to this Agreement.

Appears in 4 contracts

Samples: Portfolio Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Portfolio Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

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Annual Independent Certified Public Accountants' Servicing Reports. (a) On or before March 1 of each year, beginning with March 1, 2001, the Company at its expense shall cause a nationally recognized firm of independent certified public accountants to furnish a report to the Owner to the effect that (i) all Mortgage Loans serviced by the Company were included in the total population of mortgage loans subject to selection for testing in such firm's ’s examination of certain documents and records, that such examination was conducted substantially in compliance with the Uniform Single Attestation Program for Mortgage Bankers and that such examination disclosed no items of material noncompliance with the provisions of the Uniform Single Attestation Program for Mortgage Bankers, except for such items of noncompliance as shall be set forth in such report and (ii) such accounting firm (or another nationally recognized firm) has reviewed the operations and control procedures of the Company relative to the Company's ’s EDP and has determined that such system has been suitably designed to service the Mortgage Loans pursuant to this Agreement.,

Appears in 1 contract

Samples: Portfolio Servicing Agreement (PHH Corp)

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