Common use of COMPENSATORY PAYMENT Clause in Contracts

COMPENSATORY PAYMENT. For any first lien Subserviced Loan in breach of the GSE foreclosure timelines and not subject to allowable delays, the Base Servicing Fee for that loan, for the following month, shall be reduced by 30% provided that: (1) If the loan becomes REO or cures, the subservicing fee will revert to the base subservicing fee; (2) Timelines will be based on the greater of Xxxxxx Xxx / Freddie Mac timelines in effect at the relevant time; and, (3) Time shall be measured from the greater of the Transfer Date plus 120 days or the Due Date of Last Paid Installment.

COMPENSATORY PAYMENT. For any first lien Subserviced Loan in breach of the GSE foreclosure timelines and not subject to allowable delays, the Base Servicing Fee for that loan, for the following month, shall be reduced by 30% provided that: (1) If the loan becomes REO or cures, the subservicing fee will revert to the base subservicing fee; (2) Timelines will be based on the greater of Xxxxxx Xxx Mae / Freddie Xxxxxxx Mac timelines in effect at the relevant time; and, (3) Time shall be measured from the greater of the Transfer Date plus 120 days or the Due Date of Last Paid Installment.