Common use of Collection Practices; Escrow Deposits; Interest Rate Adjustments Clause in Contracts

Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination and collection practices used by the Seller with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Seller and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow

Appears in 2 contracts

Samples: Purchase and Warranties Agreement (D&n Capital Corp), Purchase and Warranties Agreement (Franklin Finance Corp)

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Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination servicing and collection practices used by each Servicer following the Seller acquisition by Trust Subsidiary of the Mortgage Loan with respect to the such Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Seller Trust Subsidiary and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments collected by each Servicer following the acquisition by Trust Subsidiary of the Mortgage Loan have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgagelaw. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or EscrowAll Mortgage Interest Rate adjustments made by each Servicer following the acquisition by Trust Subsidiary of the Mortgage Loan have been made in strict compliance with state and federal law and the terms of the related Mortgage Note.

Appears in 1 contract

Samples: Master Repurchase Agreement (Altisource Residential Corp)

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Collection Practices; Escrow Deposits; Interest Rate Adjustments. The origination and collection practices used by each Servicer following the Seller acquisition by Trust Subsidiary of the Mortgage Loan with respect to the such Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Seller Trust Subsidiary and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments collected by each Servicer following the acquisition by Trust Subsidiary of the Mortgage Loan have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgagelaw. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or EscrowAll Mortgage Interest Rate adjustments made by each Servicer following the acquisition by Trust Subsidiary of the Mortgage Loan have been made in strict compliance with state and federal law and the terms of the related Mortgage Note.

Appears in 1 contract

Samples: Master Repurchase Agreement (Altisource Residential Corp)

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