Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 96 contracts
Samples: Servicing Agreement, Servicing Agreement (Structured Asset Investment Loan Trust 2005-8), Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as the owner of the servicing rights, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 51 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2006-Bnc1), Securitization Servicing Agreement (Structured Asset Securities CORP 2007-Bc1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 46 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11), Subservicing Agreement (Sasco 2006-Bc3), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-6)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer Servicer, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 44 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2007-6), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-6)
Contract for Servicing; Possession of Servicing Files. The SellerSeller , by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerSeller . The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 34 contracts
Samples: Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc6), Subservicing Agreement (BNC Mortgage Loan Trust 2007-1), Subservicing Agreement (Sail 2006-Bnc3)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller Servicer shall cause to be delivered have in its possession the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerSchedule. Each Servicing File delivered to a Servicer in its possession shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 22 contracts
Samples: Servicing Agreement (Structured Asset Inv Loan Mort Pass THR Certs Ser 2003-Bc6), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc9), Servicing Agreement (Structured Asset Investment Loan Trust 2004-6)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 22 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Servicing Agreement (Structured Asset Securities Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer (which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files) and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 20 contracts
Samples: Servicing Agreement (Lehman XS 2006-13), Servicing Agreement (Lehman XS Trust 2006-11), Servicing Agreement (Lehman XS Trust 2007-1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Securitized Loans. On or before the each Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer or to the Sub-Servicer the Servicing Files with respect to the Mortgage Securitized Loans listed on in the Mortgage Loan Schedule schedule attached to the Servicerapplicable Transfer Notice. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Securitized Loan documents shall be at the will on behalf of the Trustee Trust for the sole purpose of facilitating servicing of the related Mortgage Securitized Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trust and the ownership of all records and documents with respect to the related Mortgage Securitized Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Securitized Loan by the TrusteeTrust. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 18 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Thorn Mort Sec Tr 2003-3), Servicing Agreement (Thornburg Mortgage Securities Trust 2004-2), Servicing Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or the applicable Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 13 contracts
Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar8), Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp3), Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp4)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer and the Subservicer, each subject to the terms of this Agreement, for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On The Servicer or before the Closing Date or Subservicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer or Subservicer shall be held in trust by such the Servicer or Subservicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that neither the Servicer nor the Subservicer shall have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s or Subservicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer or Subservicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer or Subservicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer or Subservicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer or Subservicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s or Subservicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer or Subservicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 13 contracts
Samples: Transfer and Servicing Agreement (New York Mortgage Trust 2005-3), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Servicing Agreement (Fieldstone Mortgage Investment CORP)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Securitized Loans. On or before the each Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer or to the Sub-Servicer the Servicing Files with respect to the Mortgage Securitized Loans listed on in the Mortgage Loan Schedule schedule attached to the Servicerapplicable Transfer Notice. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Securitized Loan documents shall be at the will on behalf of the Trustee Trust for the sole purpose of facilitating servicing of the related Mortgage Securitized Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trust and the ownership of all records and documents with respect to the related Mortgage Securitized Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Securitized Loan by the TrusteeTrust. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 11 contracts
Samples: Servicing Agreement (Structured Asset Mortgage Investments Ii Inc), Servicing Agreement (Thornburg Mortgage Sec Tr 2002-1 MRT Ln Ps THR CRT Sr 2002-1), Servicing Agreement (Greenwich Capital Acceptance Inc)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 11 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mort Pass THR Cert Ser 2002), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-15), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, Issuer does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 11 contracts
Samples: Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2006-2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as the owner of the servicing rights, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 11 contracts
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff14), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff15), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-FFB)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellera Seller (with respect to its related Mortgage Loans). The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 10 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 10 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities Corp 2005-S1), Securitization Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller Servicer shall cause to be delivered have in its possession the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to Schedule, if the ServicerServicer does not already hold such Servicing Files. Each Servicing File delivered to a Servicer in its possession shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 9 contracts
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc6), Servicing Agreement (Structured Asset Investment Loan Trust 2005-1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 8 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-1), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and Accepted Servicing Practices and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trustee, on behalf of the Trust Fund, and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trustee, on behalf of the Trust Fund, and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee, on behalf of the Trust Fund. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 8 contracts
Samples: Securitization Servicing Agreement (Fremont Home Loan Trust 2004-3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerSeller . The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 7 contracts
Samples: Servicing Agreement (Sasco 2006-Bc2), Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5), Subservicing Agreement (Sasco 2006-Bc2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement Agreement, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files, shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 7 contracts
Samples: Servicing Agreement (Structured Asset Securities CORP 2007-Bc1), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc4), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, Date the Seller shall cause the Prior Servicer to be delivered deliver to the Servicer the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 6 contracts
Samples: Subservicing Agreement (Sail 2006-Bnc3), Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3), Subservicing Agreement (BNC Mortgage Loan Trust 2006-2)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 6 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 6 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Ps THR Certs Ser 2003-8), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2002 17), Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-12xs)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 6 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mo Pa Th Ce Ser 2003-25xs), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 28xs), Servicing Agreement (Lehman Abs Corp Mortgage Pass THR Certs Ser 2003-1)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 6 contracts
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10), Subservicing Agreement (Amoritizing Residential Col Tr Mor Pas Thru Cer Ser 2002-Bc6)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement, and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 5 contracts
Samples: Securitization Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-4), Securitization Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-2), Securitization Servicing Agreement (TBW 2006-3)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall not have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer's file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 5 contracts
Samples: Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2005-2), Sale and Servicing Agreement (Cwabs Inc), Sale and Servicing Agreement (Cwalt Inc)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; , provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 4 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2000-2), Servicing Agreement (Amortizing Resi Collateral Tr Mor Pas Thru Cert Ser 2000-Bc3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or any Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File delivered with respect to a Servicer each Mortgage Loan in order to service such Mortgage Loan pursuant to this Agreement and such Servicing File is and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Trustee as the owner thereof. The possession of each Servicing File by the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be is at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be is in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7), Securitization Servicing Agreement (Aames Mortgage Tr Mort Pas Thru Cert Sers 2003-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Am1)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall not have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 4 contracts
Samples: Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2005-1), Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2005-4), Transfer and Servicing Agreement (Structured Asset Securities Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, Trustee does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Trust and the Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trust and the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Homebanc Corp), Pooling and Servicing Agreement (HomeBanc 2007-1), Pooling and Servicing Agreement (Homebanc Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or the Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (Lehman XS Trust Series 2006-4n), Securitization Subservicing Agreement (Structured Asset Securities Corp 2005-S5), Securitization Subservicing Agreement (Structured Asset Securities Corp 2005-S6)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Securitized Loans. On or before the each Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer the Servicing Files with respect to the Mortgage Securitized Loans listed on in the Mortgage Loan Schedule schedule attached to the Servicerapplicable Transfer Notice. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Securitized Loan documents shall be at the will on behalf of the Trustee Trust for the sole purpose of facilitating servicing of the related Mortgage Securitized Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trust and the ownership of all records and documents with respect to the related Mortgage Securitized Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Securitized Loan by the TrusteeTrust. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Servicing Agreement (MASTR Asset Securitization Trust 2006-3), Servicing Agreement (MASTR Alternative Loan Trust 2006-1)
Contract for Servicing; Possession of Servicing Files. The SellerSeller , by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1), Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-6xs), Subservicing Agreement (Sail 2006-2)
Contract for Servicing; Possession of Servicing Files. The SellerOwner, by execution and delivery of this Agreement (and the related Acknowledgment Agreement and Confirmation Agreement), does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing each Transfer Date, as applicable, the Seller Owner shall cause to be delivered or will use its Best Efforts to cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the related Mortgage Loan Schedule to the ServicerServicer to be held in trust for the Owner pursuant to this Agreement. On or before each Transfer Date, the Owner shall, with respect to the Mortgage Loans on the related Mortgage Loan Schedule, execute and deliver an Acknowledgment Agreement in the form attached hereto as Exhibit B-1, which Acknowledgment Agreement shall be executed and delivered simultaneously by the Servicer to the Owner. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Loans pursuant to this Agreement and are and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions owner thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Flow Servicing Agreement (Structured Asset Securities Corp), Flow Servicing Agreement (American Residential Eagle Inc), Servicing Agreement (Structured Asset Securities Corp/Ny)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
Contract for Servicing; Possession of Servicing Files. The SellerFrom time to time, the Owner, by execution and delivery of this the related Acknowledgment Agreement, in the form attached hereto as Exhibit B, and the related Mortgage Loan Schedule, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered The Servicer has in its possession the Servicing Files with respect to the Mortgage Loans listed on the related Mortgage Loan Schedule and the Servicer shall hold the Servicing Files in trust for the Owner pursuant to the Servicerthis Agreement. Each Servicing File delivered shall be held by the Servicer in order to a Servicer service the Mortgage Loans pursuant to this Agreement and are and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions owner thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Master Servicing Agreement (Structured Asset Securities Corp 2004-18h), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, Date the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer Servicer, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar1), Servicing Agreement (GreenPoint Mortgage Funding Trust 2007-Ar3), Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerSubservicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or the Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Subservicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Subservicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a Servicer the Subservicer shall be held in trust by such Servicer the Subservicer for the benefit of the Trustee; provided, however, that the Servicer Subservicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The ServicerSubservicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer Subservicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer Subservicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer Subservicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer Subservicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer Subservicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Securitization Subservicing Agreement (Lehman XS Trust Series 2006-4n), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp1), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution From and delivery after each Purchase Date and until the earlier of: (i) such date as all Loans become Liquidated Loans; or (ii) the termination of this AgreementAgreement in accordance with Section 7.1, does hereby contract below, Purchaser appoints and contracts with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On Such appointment is irrevocable, except in the instances described in Section 7.1 below. Purchaser is the owner of the Servicing Rights relating to each Loan serviced by Servicer hereunder; except that Servicing Rights shall not include the customer relationship with, or before the Closing Date or Servicing Transfer Dateright to market to, Borrower, which rights shall remain with Servicer. Subject to the terms of this Agreement, Servicer shall have, as applicablePurchaser’s independent contractor, all Servicing Rights associated with the Seller Loans. Servicer shall cause to be delivered the establish and maintain a Servicing Files File with respect to the Mortgage Loans listed on the Mortgage each Loan Schedule in order to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by service such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention Servicing File is and possession by the Servicer shall be held in a custodial capacity onlytrust by Servicer on behalf of and for the benefit of Purchaser, as purchaser thereof. The ownership of each Mortgage Note, Mortgage, Each Loan Document and the contents of the Servicing File shall be vested in the Trustee Purchaser, and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession or control of the Servicer shall immediately vest in the Trustee Purchaser and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Purchaser in such custodial capacity only. The portion of each Each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer maintained electronically and shall be appropriately marked identified or recorded to clearly reflect the ownership of the related Mortgage Loan by the TrusteePurchaser. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement, and Purchaser shall thereafter hold such Servicing File in accordance with the terms of this Agreement. To the extent that original documents are not required for purposes of realization of Loan proceeds, documents maintained by Servicer will be in digital format. Servicer shall maintain the Servicing Files and the Loan Documents electronically, and such files and documents may be accessed through the Purchaser Online Account(s) or at the Servicer Physical Payment Address or such other physical location as designated by Servicer in writing; provided, however, that in no event shall such physical location be located outside the continental United States. Record title to each Loan and the related Promissory Note shall remain in the name of Purchaser. Control and ownership of each Loan shall be established by an electronic record of such Loan that: (i) contains an identifiable and authoritative copy of the Loan Documents; (ii) identifies Purchaser as the purchaser of the Loan; (iii) is made available to Purchaser through the applicable Purchaser Online Account; (iv) is not altered to add or change the identification of Purchaser as purchaser of the Loan without the participation of Purchaser; and (v) is not revised except in accordance with the terms of this Agreement, the Loan Documents, or with the written consent of Purchaser, or unless required by Applicable Law. Servicer shall maintain such electronic record for each Loan as bailee and custodian on behalf of Purchaser at all times during the term of this Agreement.
Appears in 3 contracts
Samples: Master Loan Servicing Agreement (LendingClub Corp), Master Loan Servicing Agreement (LendingClub Corp), Master Loan Servicing Agreement (LendingClub Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Encore Credit Corp Mortgage Pass Through Certs Ser 2003-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Am1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Participation Mortgage Loans. On or before the Closing Date or Servicing each Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the related Participation Mortgage Loans listed on the Participation Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeSeller and the applicable Participants; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Participation Mortgage Loan documents shall be at the will of the Trustee Seller and the applicable Participants for the sole purpose of facilitating servicing of the related Participation Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Seller and the applicable Participants and the ownership of all records and documents with respect to the related Participation Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Seller and the applicable Participants and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Seller and the applicable Participants in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Participation Mortgage Loan by the TrusteeSeller and the applicable Participants. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Participation Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a), Participation Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-18a)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date Date, or relevant Servicing Transfer Date, as applicable, applicable the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule as of such date. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc1), Subservicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc2)
Contract for Servicing; Possession of Servicing Files. The SellerSponsor, by execution and delivery of this Servicing Agreement, does hereby contract with the Servicer, subject to the terms of this Servicing Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller Sponsor shall cause to be delivered to the Servicing Servicer the Mortgage Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerLoans. Each Servicing Mortgage File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust Fund and Certificateholders; provided, however, that the Servicer shall have no liability for any Servicing Mortgage Files (or portions thereof) not delivered by the SellerSponsor. The Servicer’s possession of any portion of the Mortgage Loan mortgage documents shall be at the will on behalf of the Trustee Trust Fund for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Servicing Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing Mortgage File shall be vested in the Trustee Trust Fund and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust Fund and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust Fund in such custodial capacity only. The portion of each Servicing Mortgage File retained by the Servicer pursuant to this Servicing Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeTrust Fund. The Servicer shall release from its custody the contents of any Servicing Mortgage File retained by it only in accordance with this Servicing Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-5), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer, subject to the lien of the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Issuer, subject to the lien of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Issuer, subject to the lien of the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Issuer, subject to the lien of the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Issuer, subject to the lien of the Indenture Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Issuer, subject to the lien of the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 S1), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2004-S1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Subservicing Agreement (Structured Asset Securities Corp), Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 03 2a)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer Servicer, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files, and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Servicing Agreement (Sasco 2006-S3), Servicing Agreement (Sasco 2006-S2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4), Subservicing Agreement (Encore Credit Corp Mortgage Pass Through Certs Ser 2003-1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf2), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Serviced Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Serviced Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Serviced Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Serviced Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Serviced Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Serviced Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2001-Bc5), Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Sr 2001-Bc4)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer, subject to the lien of the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Issuer, subject to the lien of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Issuer, subject to the lien of the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Issuer, subject to the lien of the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Issuer, subject to the lien of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Issuer, subject to the lien of the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 2 contracts
Samples: Securitization Subservicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Securitization Subservicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer initially, and beginning on or about November 1, 2003, the Subservicer, each subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that neither the Servicer nor the Subservicer shall have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-1)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the Servicer, Servicer subject to the terms of this Agreement, for the servicing of the Mortgage LoansLoans for the benefit of the Issuing Entity and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuing Entity and the Indenture Trustee; provided, however, that the Servicer shall not have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (SunTrust Mortgage Securitization, LLC)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer Servicer, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files, and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Sasco 2006-S4)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, Trustee does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Trust Fund and the Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trust Fund and the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HMB Acceptance Corp.)
Contract for Servicing; Possession of Servicing Files. The SellerSeller , by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerSeller or the Prior Servicer. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement. The Seller shall cause the Prior Servicer of the Mortgage Loans to transfer the servicing with respect thereto to the Servicer in a manner which complies with RESPA and which allows the Servicer to board and service the Mortgage Loans as of the Servicing Transfer Date in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 Bc1)
Contract for Servicing; Possession of Servicing Files. The SellerOwner, by execution and delivery of this Agreement (and the related Acknowledgment Agreement and Confirmation Agreement), does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing each Transfer Date, as applicable, the Seller Owner shall cause to be delivered or will use its Best Efforts to cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the related Mortgage Loan Schedule to the ServicerServicer to be held in trust for the Owner pursuant to this Agreement. On or before each Transfer Date, the Owner shall, with respect to the Mortgage Loans on the related Mortgage Loan Schedule, execute and deliver an Acknowledgment Agreement in the form attached hereto as Exhibit B-1, which Acknowledgment Agreement shall be executed and delivered simultaneously by the Servicer to the Owner. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Loans pursuant to this Agreement and are and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions owner thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Flow Servicing Agreement (Lehman Mortgage Trust 2006-8)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of each of the Participation Mortgage Loans. On or before the Closing Date or Servicing each Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the related Participation Mortgage Loans listed on the related Participation Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; Seller and the applicable Participants, provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Participation Mortgage Loan documents shall be at the will of the Trustee Seller and the applicable Participants for the sole purpose of facilitating servicing of the related Participation Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Seller and the applicable Participants and the ownership of all records and documents with respect to the related Participation Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Seller and the applicable Participants and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Seller and the applicable Participants in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Participation Mortgage Loan by the TrusteeSeller and the applicable Participants. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Participation Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-18a)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-9a)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as the owner of the servicing rights, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Contract for Servicing; Possession of Servicing Files. The Seller(a) From and after the Effective Date and until the earlier of: (i) such date as such Loans become a Liquidated Loan; or (ii) this Agreement is terminated in accordance with Section 7.01, by execution Indenture Trustee appoints and delivery of this Agreement, does hereby contract contracts with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of such Loan and the Mortgage Loansrelated Borrower Payment Dependent Notes. On or before Servicer is the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered owner of the Servicing Files Rights relating to each Loan serviced by Servicer hereunder, subject to Indenture Trustee’s rights hereunder with respect to such Servicing Rights in the Mortgage Loans listed on the Mortgage Loan Schedule to the event of Servicer’s default hereunder. Each (b) Servicer shall establish and maintain a Servicing File delivered with respect to a Servicer shall be held each Loan and Borrower Payment Dependent Note in trust by order to service such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan and Borrower Payment Dependent Note pursuant to this Agreement, and . Ownership of such retention and possession by the Servicer Servicing File shall be vest in a custodial capacity only. The ownership of each Mortgage Note, MortgageIndenture Trustee, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such a custodial capacity only. The portion ; provided, however, that Indenture Trustee acknowledges and agrees that Servicer will retain electronic copies of: (i) the Loan Documents for such Loan as well as (ii) any other items, documents, data or information that comprise such Servicing File; provided, further, that subject to Article VI, Servicer will retain the right (A) to use and permit its Affiliates to use the same in the performance of each Servicing File retained by its obligations hereunder and in the Servicer pursuant conduct of its and its Affiliates’ businesses generally (subject to the confidentiality provisions of this Agreement shall be segregated from Agreement), including, without limitation, to facilitate the acquisition and sale of consumer loans to persons other books than Indenture Trustee, and records to fulfill the reporting obligations of the Servicer and its Affiliates with respect to any such sales, and (B) to use, deliver or release copies of any such data, information or documents, and permit its Affiliates to use, deliver or release copies thereof, to its or their accountants, counsel or advisors, to regulators or other Regulatory Authorities of competent jurisdiction, or to other Persons to the extent necessary and appropriate to respond to subpoenas or other appropriate demands therefor in connection with any action, proceeding, arbitration or investigation in any forum of or before any Regulatory Authority. Servicer shall be appropriately marked xxxx its records to clearly reflect the ownership of the related Mortgage Loan Loans and Borrower Payment Dependent Notes by the Indenture Trustee. The Except as permitted under this Section 2.01(b), Servicer shall release from its custody the contents of any Servicing File retained by it only to Indenture Trustee or such other Persons as Indenture Trustee may authorize. (c) If any error, inaccuracy, omission or incorrect or non-standard practice or procedure (collectively “Errors”) exist in accordance with this Agreementany materials delivered to Servicer by the prior servicer of the Loans and Borrower Payment Dependent Notes which cause Servicer to make or continue any Errors (collectively, “Continued Errors”), Servicer shall have no liability for such Continued Errors; provided, however, that Servicer, agrees to use its commercially reasonable efforts to prevent Continued Errors. In the event that Servicer becomes aware of Errors or Continued Errors, it shall use its commercially reasonable efforts to reconstruct and reconcile such data and to prevent future Continued Errors. Servicer shall be entitled to recover its reasonable costs thereby expended. Section 2.02.
Appears in 1 contract
Samples: Backup Servicing Agreement
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, Issuer does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.. 201359 HomeBanc 2006-2 Transfer and Servicing Agreement
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and Accepted Servicing Practices and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi)
Contract for Servicing; Possession of Servicing Files. The SellerWith respect to each Mortgage Loan to be serviced hereunder, the Servicer shall deliver to the Subservicer the Servicing File for each related Mortgage Loan and, by execution and delivery of this Agreement, does hereby contract with computer readable electronic transmission in the Servicer, subject to the terms of this Agreement, for format specified either by the servicing transfer instructions attached hereto as Exhibit F or by the Subservicer, the related final Asset Schedule not later than one (1) Business Day following the Transfer Date. Subservicer shall confirm receipt of the Mortgage Loansaforementioned electronic submission and the related asset schedule by e mail not later than 1 business day after receipt. On or before Such submission and confirmation shall constitute the Closing Date or Servicing Transfer Date, as applicable, acknowledgement of the Seller parties that Servicer shall cause to be delivered service and the Subservicer shall subservice the transferred loans in accordance with this agreement. The Subservicer shall maintain the Servicing Files File with respect to the Mortgage Loans listed on the Mortgage Loan Schedule each Asset in order to the Servicer. Each service such Asset pursuant to this Agreement and such Servicing File delivered to a Servicer is and shall be held in trust by such Servicer the Subservicer for the benefit of the Trustee; provided, however, that applicable Mortgage Loan Holder as the Servicer shall have no liability for any owner thereof. The possession of each Servicing Files (or portions thereof) not delivered File by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be Subservicer is at the will of the Trustee Servicer for the sole purpose of facilitating servicing of subservicing the related Mortgage Loan pursuant to this AgreementAsset, and such retention and possession by the Servicer shall be Subservicer is in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, deed, and the contents of the Servicing File shall be vested in the Trustee applicable Mortgage Loan Holder and the ownership of all records and documents with respect to the related Mortgage Loan Asset prepared by or which come into the possession of the Servicer Subservicer shall immediately vest in the Trustee applicable Mortgage Loan Holder and shall be retained and maintained, in trust, maintained by the Servicer Subservicer at the will of the Trustee Servicer in such custodial capacity only. The portion of each Servicing File retained by the Servicer Subservicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked electronically to clearly reflect the ownership of the related Asset by the applicable Mortgage Loan by the TrusteeHolder. The Servicer Subservicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (Provident Mortgage Capital Associates, Inc.)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Subservicing Agreement (Finance America Mortgage Loan Trust 2004-1)
Contract for Servicing; Possession of Servicing Files. The SellerFrom and after each Purchase Date and until the earlier of: (i) such date as all Loans become Liquidated Loans; or (ii) this Agreement is terminated in accordance with Section 7.1, by execution below, Purchaser appoints and delivery of this Agreement, does hereby contract contracts with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. Such appointment is irrevocable except in the instances described in Section 7.2, below. Purchaser is the owner of the Servicing Rights relating to each Loan serviced by Servicer hereunder; except that Servicing Rights shall not include the customer relationship with, or the right to market to, Borrower, which rights shall remain with Servicer. Subject to the terms of this Agreement, Purchaser hereby conveys and grants to Servicer, as Purchaser’s independent contractor, all Servicing Rights associated with the Loans. Each Servicer shall establish and maintain a Servicing File delivered with respect to a Servicer shall be held each Loan in trust by order to service such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention Servicing File is and possession by the Servicer shall be held in a custodial capacity onlytrust by Servicer on behalf of and for the benefit of Purchaser as Purchaser thereof. The ownership of each Mortgage Note, Mortgage, Each Loan Document and the contents of the Servicing File shall be vested in the Trustee Purchaser, and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession or control of the Servicer shall immediately vest in the Trustee Purchaser and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Purchaser in such custodial capacity only. The portion of each Each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer maintained electronically and shall be appropriately marked identified or recorded to clearly reflect the ownership of the related Mortgage Loan by the TrusteePurchaser. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement, and Purchaser shall thereafter hold such Servicing File in accordance with this Agreement and the Purchase Agreement. To the extent that original documents are not required for purposes of realization of Loan proceeds, documents maintained by Servicer will be in digital format. Servicer shall maintain the Servicing Files and the Loan Documents electronically and such files and documents may be accessed at the Servicer Physical Payment Address or such other physical location as designated by Servicer in writing; provided, however, in no event shall physical or electronic copies of Servicing Files be housed outside the continental United States. Record title to each Loan and the related Promissory Note shall remain in the name of Purchaser.
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Revolving Credit Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Revolving Credit Loans listed on the Mortgage Revolving Credit Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the TrusteeTrust; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Revolving Credit Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Revolving Credit Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trust and the ownership of all records and documents with respect to the related Mortgage Revolving Credit Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Revolving Credit Loan by the TrusteeTrust. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Corp)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Assistance Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Assistance Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Assistance Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage its related Assistance Loans listed on the Mortgage Assistance Loan Schedule to the Servicer. While in the possession of the Servicer, the Holder of the Class A1 Certificates (so long as the Class A1 Certificates are outstanding) shall have the right to access the Servicing Files of any of the Pool 1 Mortgage Loans on reasonable advance notice during normal business hours. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; , provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Assistance Loans). The Servicer’s 's possession of any portion of the Assistance Loan Files or Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Assistance Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, Promissory Note, Security Agreement and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Assistance Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Assistance Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Pass Through Cert Series 2002-Al1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer, the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule Schedule. The Servicer shall maintain a Servicing File with respect to the Servicer. Each each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Lehman XS 2007-4n)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Securitized Loans. On or before the each Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicer or to the Subservicer the Servicing Files with respect to the Mortgage Securitized Loans listed on in the Mortgage Loan Schedule schedule attached to the Servicerapplicable Transfer Notice. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Securitized Loan documents shall be at the will on behalf of the Trustee Trust for the sole purpose of facilitating servicing of the related Mortgage Securitized Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Trust and the ownership of all records and documents with respect to the related Mortgage Securitized Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Securitized Loan by the TrusteeTrust. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP Trust 2006-2)
Contract for Servicing; Possession of Servicing Files. The SellerSeller , by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerSeller or a Prior Servicer. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement. The Seller shall cause the Prior Servicer of the Mortgage Loans to transfer the servicing with respect thereto to the Servicer in a manner which complies with RESPA and which allows the Servicer to board and service the Mortgage Loans as of the Closing Date or the Servicing Transfer Date, as applicable, in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc2)
Contract for Servicing; Possession of Servicing Files. The SellerWith respect to the Mortgage Loans in each Mortgage Loan Package, from and after the related Closing Date, the Servicer, as an independent contractor, shall service and administer the Mortgage Loans, by execution and delivery of this the related Acknowledgment Agreement, does hereby contract in the form attached hereto as Exhibit A, and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the ServicerServicer may deem necessary or desirable, subject to consistent with the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Agreement and with Accepted Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerPractices. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Loans pursuant to this Agreement and are and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any owner thereof and the Servicing Files (or portions thereof) not delivered by the SellerRights Owner. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Flow Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-A9)
Contract for Servicing; Possession of Servicing Files. The SellerIssuer, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage LoansLoans that are from time to time subject to this Agreement. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with With respect to the each Mortgage Loans Loan listed on the Mortgage Loan Schedule as of the date of this Agreement the Issuer shall cause to be delivered or will use its Best Efforts to cause to be delivered, on or before the Closing Date, the related Servicing File to the Servicer. With respect to each Mortgage Loan that becomes subject to this Agreement at any time after the date hereof, the Issuer shall cause the Mortgage Loan Schedule to be amended to reflect the Mortgage Loans then subject to this Agreement and shall cause to be delivered or will use its Best Efforts to cause to be delivered as soon as practicable each related Servicing File to the Servicer. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Loans pursuant to this Agreement and is and shall be held in trust by such Servicer as agent for the Issuer and for the benefit of the Trustee; provided, however, that Issuer as the Servicer shall have no liability for any Servicing Files (or portions Issuer thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents Servicing File shall be at the will of the Trustee Issuer for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, Loan and the contents of the Servicing File shall be vested in the Trustee Issuer and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Issuer and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.be
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Servicing Agreement, does hereby contract with the Servicer, subject to the terms of this Servicing Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered to the Servicing Servicer the Mortgage Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerLoans. Each Servicing Mortgage File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the TrusteeTrust Fund and Certificateholders; provided, however, that the Servicer shall have no liability for any Servicing Mortgage Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan mortgage documents shall be at the will on behalf of the Trustee Trust Fund for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Servicing Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing Mortgage File shall be vested in the Trustee Trust Fund and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Trust Fund and shall be retained and maintained, in trust, by the Servicer at the will on behalf of the Trustee Trust Fund in such custodial capacity only. The portion of each Servicing Mortgage File retained by the Servicer pursuant to this Servicing Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeTrust Fund. The Servicer shall release from its custody the contents of any Servicing Mortgage File retained by it only in accordance with this Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-2)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellera Seller (with respect to its related Mortgage Loans). The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, Issuer does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each 145322 HomeBanc 2005-2 Transfer and Servicing Agreement 47 Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement Agreement, which, except for collateral documents such as the Mortgage and the Mortgage Note, may be stored as imaged files, shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The SellerOwner, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage LoansNotes that are from time to time subject to this Agreement. On or before With respect to each Mortgage Note listed on the Closing Date or Mortgage Note Schedule as of the date of this Agreement for which the Servicer does not have possession of a Servicing Transfer Date, File as applicableof the date hereof, the Seller Owner shall cause to be delivered or will use its Best Efforts to cause to be delivered the related Servicing Files with File to the Servicer as soon as practicable. With respect to each Mortgage Note that becomes subject to this Agreement after the date hereof, the Owner shall cause the Mortgage Loans listed on Note Schedule to be amended to reflect the Mortgage Loan Schedule Notes then subject to this Agreement and shall cause to be delivered or will use its Best Efforts to cause to be delivered as soon as practicable each related Servicing File to the Servicer. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Notes pursuant to this Agreement and is and shall be held in trust by such Servicer as agent for the Owner and for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions owner thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents Servicing File shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan Note pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Main Place Real Estate Investment Trust /Md/)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodian, including reasonable fees and expenses due to Servicer’s requests of the Custodian in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Ff3)
Contract for Servicing; Possession of Servicing Files. The SellerOwner, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage LoansNotes that are from time to time subject to this Agreement. On or before With respect to each Mortgage Note listed on the Closing Date or Mortgage Note Schedule as of the date of this Agreement for which the Servicer does not have possession of a Servicing Transfer Date, File as applicableof the date hereof, the Seller Owner shall cause to be delivered or will use its Best Efforts to cause to be delivered the related Servicing Files with File to the Servicer as soon as practicable. With respect to each Mortgage Note that becomes subject to this Agreement after the date hereof, the Owner shall cause the Mortgage Loans listed on Note Schedule to be amended to reflect the Mortgage Loan Schedule Notes then subject to this Agreement and shall cause to be delivered or will use its Best Efforts to cause to be delivered as soon as practicable each related Servicing File to the Servicer. Each Servicing File delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Notes pursuant to this Agreement and is and shall be held in trust by such Servicer as agent for the Owner and for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions owner thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents Servicing File shall be at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan Note pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Main Place Real Estate Investment Trust /Md/)
Contract for Servicing; Possession of Servicing Files. The SellerEach Seller (with respect to its related Mortgage Loans), by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the each Seller (with respect to its related Mortgage Loans) shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Sellereach Seller (with respect to its related Mortgage Loans). The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2003-Bc2)
Contract for Servicing; Possession of Servicing Files. The SellerSponsor, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, Servicer for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that the Servicer shall not have no any liability for any Servicing Files (or portions thereof) not delivered by the SellerSponsor. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Custodial Agreement (Aames Mortgage Investment Trust 2006-1)
Contract for Servicing; Possession of Servicing Files. The Seller, by Simultaneously with the execution and delivery of this Agreement, does hereby the Servicer shall execute and deliver to the Owner an Officer's Certificate in the form of Exhibit D hereto and an opinion of counsel in the form of Exhibit E hereto. From and after each Transfer Date, the Owner shall, by execution and delivery of the related Acknowledgment Agreement, contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule annexed to the Servicersuch Acknowledgment Agreement. Each The Servicer shall maintain a Servicing File delivered with respect to a Servicer each Mortgage Loan in order to service such Mortgage Loan pursuant to this Agreement and such Servicing File is and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the owner thereof. The possession of each Servicing File by the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be is at the will of the Trustee Owner for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this AgreementLoan, and such retention and possession by the Servicer shall be is in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee Owner in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuer, subject to the lien of the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the a Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Issuer, subject to the lien of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Issuer, subject to the lien of the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Issuer, subject to the lien of the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Issuer, subject to the lien of the Indenture Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Issuer, subject to the lien of the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Issuer, subject to the lien of the Indenture Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Issuer, subject to the lien of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Issuer, subject to the lien of the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Issuer, subject to the lien of the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Issuer, subject to the lien of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Issuer, subject to the lien of the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as an independent contractor, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and Accepted Servicing Practices and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. Upon Servicer’s reasonable request, Seller shall assist the Servicer in all reasonable respects in Servicer’s efforts to obtain any additional documentation or information to be included in the Servicing File to enable Servicer to service the Mortgage Loans properly. The Seller shall be responsible for all fees and expenses of the Custodians, including reasonable fees and expenses due to Servicer’s requests of the Custodians in the normal course of Servicer’s collection and foreclosure activities (including but not limited to follow-up document deliveries of the Servicer, photocopies of documents made at the request of the Servicer and follow-up document insertion fees). The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The SellerServicer, by execution and delivery of this Agreement (and the related Acknowledgment Agreement), does hereby contract with the ServicerOwner, subject to the terms of this Agreement, for the servicing of to service the Mortgage Loans. On or before Loans included in Mortgage Loan Packages as to which the Closing Date or Servicing Transfer DateOwner has selected the Servicer to service such Mortgage Loans and the Servicer has agreed to service such Mortgage Loans (as evidenced by such Acknowledgment Agreement), as applicableand pursuant to this Agreement, the Seller Owner shall transfer or cause to be delivered transferred to the Servicer the Servicing Files Files, with respect to the such Mortgage Loans listed on the related Mortgage Loan Schedule Schedule, to be held in trust for the ServicerOwner pursuant to this Agreement. On or before each Transfer Date, the Owner and Servicer shall, with respect to such Mortgage Loans on the related Mortgage Loan Schedule, execute and deliver an Acknowledgment Agreement. Each Servicing File File, or relevant portion thereof, delivered to a the Servicer shall be held by the Servicer in order to service the Mortgage Loans pursuant to this Agreement and shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that Owner as the Servicer shall have no liability for any Servicing Files (or portions purchaser thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents Documents (or any copies thereof) for any Mortgage Loan shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related such Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only, and any original Mortgage Loan Documents held by the Servicer for servicing purposes shall be delivered to the Custodian as soon as the Servicer shall no longer need such documents for servicing. The ownership of each the Mortgage Note, MortgageLoan Documents, and the contents of the Servicing File shall be vested in the Trustee Owner and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer immediately shall immediately vest in the Trustee Owner and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity onlyonly for the benefit of the Owner. The portion of each Each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked identified clearly to clearly reflect the ownership of the related Mortgage Loan by the TrusteeOwner. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement or the Custodial Agreement, unless otherwise instructed by Owner.
Appears in 1 contract
Samples: Servicing Agreement (Imperial Credit Commercial Mortgage Investment Corp)
Contract for Servicing; Possession of Servicing Files. The SellerHoldings, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller Holdings shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerHoldings. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (Amortizing Resi Collateral Tr Mort Pas Thru Cer Ser 2001-Bc1)
Contract for Servicing; Possession of Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer as the owner of the servicing rights, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer's file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Contract for Servicing; Possession of Servicing Files. The SellerSellers, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller Sellers shall cause to be delivered the Servicing Files with respect to the its related Mortgage Loans listed on the Mortgage Loan Schedule to the ServicerServicer if the Servicer does not already hold such Servicing Files. Each The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the SellerSellers. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
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Contract for Servicing; Possession of Servicing Files. The Seller, (a) Owner shall notify Servicer not less than thirty (30) calendar days (or as otherwise mutually agreed upon by execution Owner and delivery of this Agreement, does hereby contract with Servicer) prior to any proposed Servicing Commencement Date that it desires to have Servicer service the Servicer, subject Mortgage Loans in the related Asset Pool pursuant to the terms of this Agreement, for Agreement and shall forward to Servicer the servicing related Acknowledgement Agreement and a computer readable electronic transmission of the Mortgage Loans. On or before related Asset Servicing Schedule, containing the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect information specified in Exhibit I to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trusteeextent available; provided, however, that such data tapes are not required to be delivered with respect to any Mortgage Loan Servicer is servicing as of the date of such Acknowledgment Agreement. In the event that Servicer elects not to service such mortgage loans pursuant to the terms hereof, Servicer shall have no liability for any Servicing Files advise Owner in writing of such election within two (or portions thereof2) not delivered by the Seller. The Servicer’s possession Business Days of any portion receipt of the foregoing notice from Owner. Otherwise, Servicer shall countersign and return the Acknowledgment Agreement to Owner within three (3) calendar days of receipt thereof and each Mortgage Loan documents in the related Asset Pool shall be at the will of the Trustee for the sole purpose of facilitating servicing subject to this Agreement as of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity onlyServicing Commencement Date. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion Within thirty (30) days of each Servicing File retained Commencement Date, Owner shall pay to Servicer, in immediately available funds wired to an account designed by Servicer, the Boarding Fee attributable to each Mortgage Loan transferred to Servicer pursuant to this Agreement shall be segregated from the other books and records on such Servicing Commencement Date, unless Servicer was servicing such Mortgage Loan as of the Servicer and shall be appropriately marked to clearly reflect the ownership date of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Acknowledgment Agreement.
Appears in 1 contract
Samples: Flow Servicing Agreement (Altisource Residential Corp)
Contract for Servicing; Possession of Servicing Files. The Seller, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with the ServicerServicer and the Subservicer, each subject to the terms of this Agreement, for the servicing of the Mortgage LoansLoans for the benefit of the Issuer and the Indenture Trustee. On The Servicer or before the Closing Date or Subservicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer or Subservicer shall be held in trust by such the Servicer or Subservicer for the benefit of the Issuer and the Indenture Trustee; provided, however, that neither the Servicer nor the Subservicer shall have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s 's or Subservicer's possession of any portion of the Mortgage Loan documents shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer or Subservicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer or Subservicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer or Subservicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer or Subservicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer's or Subservicer's file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer or Subservicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Contract for Servicing; Possession of Servicing Files. The SellerServicer, as the owner of the servicing rights, by execution and delivery of this Agreement, does hereby contract with agree to service the Servicer, subject Mortgage Loans pursuant to the terms of this Agreement, Agreement for the servicing benefit of the Mortgage LoansIssuing Entity and the Indenture Trustee. On or before the Closing Date or The Servicer shall maintain a Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files File with respect to the each Mortgage Loan in order to service such Mortgage Loans listed on the Mortgage Loan Schedule pursuant to the Servicer. Each this Agreement and each Servicing File delivered to a the Servicer shall be held in trust by such the Servicer for the benefit of the Issuing Entity and the Indenture Trustee; provided, however, that the Servicer shall not have no any liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents File shall be at the will of the Indenture Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Indenture Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Indenture Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Indenture Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from identified in accordance with the other books and records of the Servicer and shall be appropriately marked Servicer’s file tracking system to clearly reflect the ownership of the related Mortgage Loan by the Indenture Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)