Common use of Core Business Activities Clause in Contracts

Core Business Activities. Loan servicing and collection activities and ancillary services directly related thereto (including, for example, the making of servicer advances and the financing of servicer advances), asset management for investors that are not a part of the Administrator’s consolidated group and management of loans, REO Property and securities portfolios for investors that are not a part of the Administrator’s consolidated group, support services to third-party mortgage lending and loan investment and servicing businesses (e.g., due diligence services, loan underwriting services, real estate title services, provision of broker-price opinions and other valuation services), collection of consumer receivables, bankruptcy assistance and solution activities, and the provision of technological support products and services related to the foregoing and business initiatives arising out of and related to any of the foregoing; provided, however, that the Administrator and each of its Affiliates shall be specifically permitted to make material changes to their Core Business Activities insofar as these changes relate to originating, acquiring, securitizing and/or selling mortgage loans. Corporate Advance: Collectively, (i) any advance made by the Servicer (including any predecessor servicer) and reimbursable to the Servicer pursuant to a Designated Servicing Agreement to inspect, protect, preserve or repair properties that secure Mortgage Loans or that have been acquired through foreclosure or deed in lieu of foreclosure or other similar action pending disposition thereof, or for similar or related purposes, including, but not limited to, necessary legal fees and costs expended or incurred by the Servicer (including any predecessor servicer) in connection with foreclosure, bankruptcy, eviction or litigation actions with or involving Obligors on Mortgage Loans, as well as costs to obtain clear title to such a property, to protect the priority of the lien created by a Mortgage Loan on such a property, and to dispose of properties taken through foreclosure or by deed in lieu thereof or other similar action, (ii) any advance made by the Servicer (including any predecessor servicer) pursuant to a Designated Servicing Agreement to foreclose or undertake similar action with respect to a Mortgage Loan, and (iii) any other out of pocket expenses incurred by the Servicer (including any predecessor servicer) pursuant to a Designated Servicing Agreement (including, for example, costs and expenses incurred in loss mitigation efforts and in processing assumptions of Mortgage Loans).

Core Business Activities. Loan The loan servicing and collection activities and ancillary services directly related thereto (including, for examplebut not limited to, the making of servicer advances and the financing of servicer advances), asset management for investors that are not a part of the Administrator’s consolidated group and management of loans, REO Property and securities portfolios for investors that are not a part of the Administrator’s consolidated groupgroup (provided that neither of the foregoing shall permit (i) any acquisition of ownership interest in loans (excluding, for the avoidance of doubt, servicer advances) or asset backed securities by the Administrator or any of its Affiliates as principal or (ii) incremental cash investments by the Administrator or any of its Affiliates in entities that acquire ownership interests in loans or asset backed securities), support services to third-party mortgage lending and loan investment and servicing businesses (e.g., due diligence services, loan underwriting services, real estate title services, provision of broker-price opinions and other valuation services), collection of consumer receivables, bankruptcy assistance and solution activities, and the provision of technological support products and services related to the foregoing foregoing, and business initiatives arising out of and related to any of the foregoing; provided, however, that the Administrator and each of its Affiliates shall may be specifically permitted to make material changes to their its Core Business Activities insofar as these changes relate to originating, acquiring, securitizing and/or selling mortgage loansloans that are purchased, insured, guaranteed or securitized by the Federal Housing Administration, Veterans Administration, Xxxxxx Xxx, Xxxxxx Xxx, Freddie Mac or other similar government or government sponsored programs. Corporate Advance: Collectively, (i) any advance (other than those described in clause (ii) below) made by the Servicer (including any predecessor servicer) and reimbursable to the Servicer pursuant to a Designated Servicing Agreement to inspect, protect, preserve or repair properties that secure Mortgage Loans or that have been acquired through foreclosure or deed in lieu of foreclosure or other similar action pending disposition thereof, or for similar or related purposes, including, but not limited to, necessary legal fees and costs expended or incurred by the Servicer (including any predecessor servicer) in connection with foreclosure, bankruptcy, eviction or litigation actions with or involving Obligors on Mortgage Loans, as well as costs to obtain clear title to such a property, to protect the priority of the lien created by a Mortgage Loan on such a property, and to dispose of properties taken through foreclosure or by deed in lieu thereof or other similar action, (ii) any advance made by the Servicer (including any predecessor servicer) pursuant to a Designated Servicing Agreement to foreclose or undertake similar action with respect to a Mortgage Loan, and (iii) any other out of pocket expenses incurred by the Servicer (including any predecessor servicer) pursuant to a Designated Servicing Agreement (including, for example, costs and expenses incurred in loss mitigation efforts and in processing assumptions of Mortgage Loans).