Common use of Assignments and Related Matters Clause in Contracts

Assignments and Related Matters. Only if (A) expressly required by Applicable Requirements, (B) determined by the MSR Owner to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR Owner’s prior written direction or (C) nominal title is held in Subservicer’s name (or the name of an affiliate of Subservicer), the Subservicer shall, at its expense and in compliance with all Applicable Requirements in all material respects, (i) prepare and record or cause to be prepared and recorded, as required by the applicable Agency, all prior intervening Assignments of Mortgage Instruments related to the Defended Loans; (ii) prepare or cause to be prepared Assignments of Mortgage Instruments from Subservicer to MSR Owner related to the Defended Loans; and (iii) endorse or cause to be endorsed the Mortgage Notes in blank without recourse or as otherwise required by the applicable Agency. Subservicer shall deliver to the Document Custodian all original recorded Assignments of Mortgage Instruments for the related Defended Loans promptly upon receipt of same from the applicable recording office or otherwise. In respect of any Defended Loans which are MERS Mortgage Loans, only if (A) expressly required by Applicable Requirements, (B) determined by the MSR Owner to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR Owner’s prior written direction, the Subservicer shall, at the Subservicer’s expense and in compliance with all Applicable Requirements and Accepted Servicing Practices or (C) if nominal title is held in Subservicer’s name (or the name of an affiliate of Subservicer), Subservicer shall, at Subservicer’s expense, take such actions as are necessary to cause MSR Owner to be clearly identified as the servicer of each such MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of servicing of mortgage loans maintained by MERS and make such other changes to the applicable MERS registration information as is required under Applicable Requirements. MSR Owner shall accept any such transfer of servicer or beneficial interest initiated by Subservicer within the MERS system. If requested by MSR Owner, Subservicer will register with MERS any Defended Loan that is a Non-MERS Mortgage Loan as of the related Agency Delivery Date (and eligible to be a MERS Mortgage Loan), in MSR Owner’s name. The MSR Owner will bear any and all costs and expenses associated with the MERS registration on any such Defended Loans. In connection with each such Defended Loan, if such Defended Loan has been assigned to Subservicer, in lieu of any Assignment of Mortgage Instrument contemplated above in this Section 2.03(c), Subservicer will, at Subservicer’s expense, prepare and record an Assignment of Mortgage Instrument from Subservicer to MERS.

Assignments and Related Matters. Only if (A) expressly required by Applicable Requirements, (B) determined i. Unless otherwise instructed in writing by the MSR Owner to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR Owner’s prior written direction or (C) nominal title is held in Subservicer’s name (Purchaser or the name of an affiliate of Subservicer), the Subservicer Seller shall, at its the Seller’s expense and in compliance with all Applicable Requirements in all material respectsand Accepted Servicing Practices, (iA) prepare and record or cause to be prepared and recorded, as required by the applicable AgencyInvestor, all prior intervening Assignments of Mortgage Instruments related to the Defended LoansInstruments; (iiB) with respect to Non-MERS Mortgage Loans, prepare or cause to be prepared all Assignments of Mortgage Instruments from Subservicer to MSR Owner related the Seller to the Defended LoansPurchaser, and from the Purchaser to the applicable Investor or as otherwise required by Applicable Requirements; and (iiiC) endorse or cause to be endorsed the Mortgage Notes in blank without recourse or as otherwise required by the applicable AgencyInvestor. Subservicer The Seller shall deliver images of the foregoing executed documents within [***] days of the applicable Transfer Date. Additionally, the Seller shall deliver images of the foregoing recorded documents within [***] days of recordation and deliver to the related Document Custodian all original recorded Assignments of Mortgage Instruments for the related Defended Loans promptly upon receipt of same from the applicable recording office or otherwise. ii. In Unless otherwise instructed in writing by the Purchaser or the Subservicer, in respect of any Defended Loans which are MERS Mortgage Loans, only if (A) expressly required by Applicable Requirements, (B) determined by the MSR Owner to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR Owner’s prior written direction, the Subservicer Seller shall, at the Subservicer’s expense and in compliance with all Applicable Requirements and Accepted Servicing Practices or (C) if nominal title is held in Subservicer’s name (or the name of an affiliate of Subservicer), Subservicer shall, at SubservicerSeller’s expense, take such actions as are necessary to cause MSR Owner the Purchaser to be clearly identified identified, as of the Transfer Date, as the servicer of each such MERS Mortgage Loan on and the Subservicer as the subservicer in the records of MERS for purposes of the system of recording transfers of servicing of mortgage loans maintained by MERS and the Seller shall make such other changes to the applicable MERS registration information as is required under Applicable Requirementsinformation. MSR Owner The Purchaser shall accept any such transfer of servicer or beneficial interest initiated by Subservicer the Seller within the MERS system. iii. If requested Except with respect to any Delinquent Loan or any Foreclosure Loan for which Servicing Rights are purchased hereunder by MSR Ownerthe Purchaser, Subservicer will unless otherwise instructed in writing by the Purchaser or the Subservicer, the Seller shall, at the Seller’s expense, register with MERS any Defended Loan that is a Non-MERS Mortgage Loan as of Loans in the related Agency Delivery Date (and eligible Purchaser’s name to be a MERS Mortgage Loan), in MSR Owner’s namethe extent expressly required by the applicable Investor. The MSR Owner will Seller shall bear any and all costs and expenses associated with the MERS registration on of any such Defended Non-MERS Mortgage Loans. In connection with each such Defended Non-MERS Mortgage Loan, if such Defended Loan has been assigned to Subservicer, in lieu of any Assignment of Mortgage Instrument contemplated above in this Section 2.03(c), Subservicer willthe Seller shall, at Subservicer’s its expense, prepare and record an Assignment of Mortgage Instrument from Subservicer the Seller to MERS.

Assignments and Related Matters. Only if (A) expressly required by Applicable Requirements, (B) determined by the MSR Owner Purchaser to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR OwnerPurchaser’s prior written direction or (C) if nominal title is held in SubservicerSeller’s name (or the name of an affiliate of SubservicerSeller), the Subservicer Seller shall, at its expense and in compliance with all Applicable Requirements in all material respects, (i) prepare and record or cause to be prepared and recorded, as required by the applicable AgencyInvestor, all prior intervening Assignments of Mortgage Instruments related to the Defended LoansInstruments; (ii) prepare or cause to be prepared Assignments of Mortgage Instruments from Subservicer Seller to MSR Owner related to the Defended LoansPurchaser; and (iii) endorse or cause to be endorsed the Mortgage Notes in blank without recourse or as otherwise required by the applicable AgencyInvestor. Subservicer Seller shall deliver to the Document Custodian all original recorded Assignments of Mortgage Instruments for the related Defended Loans promptly upon receipt of same from the applicable recording office or otherwise. In respect of any Defended Loans which are MERS Mortgage Loans, only if (A) expressly required by Applicable Requirements, (B) determined by the MSR Owner Purchaser to be advisable after reasonable consultation with the applicable servicer or subservicer, then at the MSR OwnerPurchaser’s prior written direction, the Subservicer Seller shall, at the SubservicerSeller’s expense and in compliance with all Applicable Requirements and Accepted Servicing Practices or (C) if nominal title is held in SubservicerSeller’s name (or the name of an affiliate of SubservicerSeller), Subservicer Seller shall, at SubservicerSeller’s expense, take such actions as are necessary to cause MSR Owner Purchaser to be clearly identified as the servicer of each such MERS Mortgage Loan on the records of MERS for purposes of the system of recording transfers of servicing of mortgage loans maintained by MERS and make such other changes to the applicable MERS registration information as is required under Applicable Requirements. MSR Owner Purchaser shall accept any such transfer of servicer or beneficial interest initiated by Subservicer Seller within the MERS system. If requested by MSR OwnerPurchaser, Subservicer Seller will register with MERS any Defended Mortgage Loan that is a Non-MERS Mortgage Loan as of the related Agency Delivery Sale Date (and eligible to be a MERS Mortgage Loan), in MSR OwnerPurchaser’s name. The MSR Owner Purchaser will bear any and all costs and expenses associated with the MERS registration on any such Defended Mortgage Loans. In connection with each such Defended Mortgage Loan, if such Defended Mortgage Loan has been assigned to SubservicerSeller, in lieu of any Assignment of Mortgage Instrument contemplated above in this Section 2.03(c6.3(d), Subservicer Seller will, at SubservicerSeller’s expense, prepare and record an Assignment of Mortgage Instrument from Subservicer Seller to MERS.