Borrower Correspondence Sample Clauses

Borrower Correspondence. The following is added as a second paragraph of Section 4.12 of the Servicing Agreement: “FMC and Servicer have instituted the functionality to identify specific ▇▇▇▇-guaranteed loans with criteria established by FMC, which will increase correspondence to the co-borrowers for these loans. This functionality was created pursuant to a Statement of Work, dated March 20, 2008, which is attached as Exhibit D to this Agreement, and is incorporated herein.”

Borrower Correspondence. Lender shall have the right to request changes to, and approve the form and substance of, all correspondence sent to Borrowers that is customizable by the Servicer at the Lender level, including but not limited to pre-repayment letters and collection correspondence that Servicer is required to send to Borrowers pursuant to the Servicing Guidelines or any federal or state regulation. Servicer’s inability to customize at the Lender level shall not excuse its obligation to comply with all applicable laws. Lender shall bear all compliance responsibility for the language of correspondence changes requested by Lender and implemented by Servicer. Requested changes to letters shall be completed within a timely manner in accordance with a schedule adopted by mutual agreement of the Parties. Program Administrator and Servicer have instituted the functionality to identify specific loans for which correspondence with Borrowers may be enhanced. From time to time, Program Administrator, on behalf of Lender, shall designate those borrower segments that will receive enhanced correspondence. Fees for such correspondence shall be paid by Program Administrator.