ARM Loans. Section 8.1 ARM Loan Servicing............................................. 8.1.1. In General.................................................. 8.1.2.
ARM Loans. With respect to each adjustable rate Primary Mortgage Loan, the Seller has properly and accurately and in material compliance with all Applicable Requirements and Accepted Servicing Practices (a) entered into its system all data required to service such Primary Mortgage Loan, (b) adjusted the mortgage interest rate on each interest adjustment date, (c) adjusted the monthly payment on each payment adjustment date, (d) calculated the amortization of principal and interest on each payment adjustment date, and (e) executed and delivered any and all notices regarding interest rate and payment adjustments.
ARM Loans. As of the Sale Date and Servicing Transfer Date, with respect to each adjustable rate Mortgage Loan, the Seller has, and each Prior Servicer has, properly and accurately and in compliance with all Applicable Requirements and Accepted Servicing Practices (i) entered into its system all data required to service the Mortgage Loan, (ii) adjusted the mortgage interest rate on each interest adjustment date, (iii) adjusted the Mortgage Loan Payment on each payment adjustment date, (iv) calculated the amortization of principal and interest on each payment adjustment date, and (v) executed and delivered any and all notices regarding interest rate and payment adjustments.
ARM Loans. Section 8.1 ARM Loan Servicing ------------------
ARM Loans. With regard to each adjustable rate mortgage loan, Seller --------- shall (a) make all such payment adjustments and interest rate adjustments as may be called for by the related Note and Mortgage, reflecting the applicable movements of the applicable loan index, and (b) administer any interest rate conversion option exercised by the Mortgagor in accordance with the related Note and Mortgage. All such conversions and adjustments, and all notices to the Mortgagor concerning such conversions and adjustments, shall be made in compliance with applicable Legal Requirements.
ARM Loans. With respect to each adjustable rate Mortgage Loan, all of the terms of such Mortgage Note and Mortgage Instrument may be enforced by the holder thereof, its successors and assigns. With respect to each adjustable rate Mortgage Loan, the Seller has, and each Prior Servicer has, properly and accurately and in compliance with all Applicable Requirements and Accepted Servicing Practices (a) entered into its system all data required to service the Mortgage Loan, (b) adjusted the mortgage interest rate on each interest adjustment date, (c) adjusted the monthly payment on each payment adjustment date, (d) calculated the amortization of principal and interest on each payment adjustment date, and (e) executed and delivered any and all notices regarding interest rate and payment adjustments. No Mortgage Note or Mortgage Instrument related to a Mortgage Loan contains terms or provisions that would result in negative amortization, nor does any such Mortgage Note or Mortgage Instrument contain any term or provision whereby its Mortgagor is permitted prospectively to convert the Mortgage Loan to a fixed-rate mortgage loan.
ARM Loans. With respect to each adjustable rate Mortgage Loan, the Company or any Subsidiary has (a) properly and accurately entered into its system all data required to service the Mortgage Loan in accordance with all applicable Regulations and the related Mortgage Loan Documents, (b) to the knowledge of the Seller, properly and accurately adjusted the mortgage interest rate on each interest adjustment date, (c) to the knowledge of the Seller, properly and accurately adjusted the monthly payment on each payment adjustment date, (d) to the knowledge of the Seller, properly and accurately calculated the amortization of principal and interest on each payment adjustment date, in each case in compliance with all applicable Regulations and the related Mortgage Loan Documents, and (e) executed and delivered any and all necessary notices required under, and in a form that complies with, all applicable Regulations regarding the interest rate and payment adjustments and the related Mortgage Loan Documents.
ARM Loans. Section 8.1 ARM Loan Servicing............................................... 8.1.4. Substitute Index..............................................
ARM Loans. If such Mortgage Loan is an ARM Loan, the related Mortgage Note has been timely and appropriately adjusted, if such adjustment is required, and the respective Mortgagor has been timely and appropriately advised. All such adjustments have been made in compliance with applicable law and in accordance with the terms of the Mortgage Loan Documents.
ARM Loans
