Compensatory Payments for Foreclosure Timelines Sample Clauses

Compensatory Payments for Foreclosure Timelines. The Mandatory Term of any Subservicing Agreement shall include terms requiring each Approved Subservicer to make compensatory payments, in the form of a reduction in the Base Servicing Fee (“Compensatory Payment”), for each Subserviced Loan as to which the Approved Subservicer fails to adhere to the GSE foreclosure timelines, as set forth in the Xxxxxx Mae Servicing Guide, Part VIII, Section 106.08 (Allowable Time Frames for Completing Foreclosure), subject to any normal and customary changes to such guide, plus 120 days. The calculation of the Compensatory Payment shall exclude from the timeline calculation allowable delays that are beyond the Approved Subservicer’s control, including, but not limited to, court mandated and processing delays, Homeowner Borrower Relief regulations, other regulatory or compliance issues, including restarts, holds and delays, and the allowable delays set forth in the Xxxxxx Xxx Servicing Guide, Part I, Section 201.11.07 (subject to any amendments or changes to such guide). The Compensatory Payment shall be calculated and paid as follows:
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