Common use of Conveyance of Mortgage Loans; Possession of Servicing Files Clause in Contracts

Conveyance of Mortgage Loans; Possession of Servicing Files. The Seller, simultaneously with the payment of the Purchase Price, shall execute and deliver to the Initial Purchaser an Assignment and Conveyance with respect to the related Mortgage Loan Package in the form attached hereto as Exhibit 4. No assignment is required if the Mortgage Loan is a MOM Mortgage, or has been previously assigned to MERS, and will remain registered on the MERS(R) System. The Servicing File retained by the Servicer with respect to each Mortgage Loan pursuant to this Agreement shall be appropriately identified in the Servicer's computer system to reflect clearly the sale of such related Mortgage Loan to the Purchaser. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement, except when such release is required in connection with a repurchase of any such Mortgage Loan pursuant to Subsection 7.03 or 7.04.

Conveyance of Mortgage Loans; Possession of Servicing Files. The Seller, simultaneously with the payment of the Purchase Price, shall execute and deliver to the Initial Purchaser an Assignment and Conveyance with respect to the related Mortgage Loan Package in the form attached hereto as Exhibit 4. No assignment of Mortgage is required if the Mortgage Loan is a MOM Mortgage, or has been previously assigned to MERS, and will remain registered on the MERS(R) System. The Servicing File retained by the Servicer Seller with respect to each Mortgage Loan pursuant to this Agreement shall be appropriately identified in the ServicerSeller's computer system to reflect clearly the sale of such related Mortgage Loan to the Purchaser. The Servicer Seller shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement, except when such release is required in connection with a repurchase of any such Mortgage Loan pursuant to Subsection 7.03 or 7.04.

Conveyance of Mortgage Loans; Possession of Servicing Files. The Seller, simultaneously with the payment of the Purchase Price, shall execute and deliver to the Initial Purchaser an Assignment and Conveyance with respect to the related Mortgage Loan Package in the form attached hereto as Exhibit 4. No assignment is required if the Mortgage Loan is a MOM Mortgage, or has been previously assigned to MERS, and will remain registered on the MERS(R) System. The Servicing File retained by the Servicer Seller with respect to each Mortgage Loan pursuant to this Agreement shall be appropriately identified in the ServicerSeller's computer system to reflect clearly the sale of such related Mortgage Loan to the Purchaser. The Servicer Seller shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement, except when such release is required in connection with a repurchase of any such Mortgage Loan pursuant to Subsection 7.03 or 7.04.