Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Determination Date (the “Determination Date Report”), and shall forward to the Trustee in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee in providing all information as is reasonably requested by the Trustee to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2004-1), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2004-3), Pooling and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2004-4)
Determination Date Reports. On the second Business Day following each Determination Date (the “Servicer Reporting Date”), the Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Determination Date (the “Determination Date Report”), and shall forward to the Trustee in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee in providing all information as is reasonably requested by the Trustee to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (NovaStar Certificates Financing CORP), Pooling and Servicing Agreement (NovaStar Certificates Financing CORP), Pooling and Servicing Agreement (NovaStar Certificates Financing CORP)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Determination Date (the “"Determination Date Report”"), and shall forward to the Trustee in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee in providing all information as is reasonably requested by the Trustee to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Home Eq Ln as Bk Ce Se 03 2), Pooling and Servicing Agreement (Novastar Home Equity Loan Asset Backed Cert Series 2003-3), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Home Equity Loan Ser 2003-4)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Indenture Trustee a report, prepared as of the close of business on the Determination Date (the “Determination Date Report”), and shall forward to the Indenture Trustee in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Indenture Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Indenture Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Indenture Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.075.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Indenture Trustee in providing all information as is reasonably requested by the Indenture Trustee to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Indenture Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 4 contracts
Samples: Sale and Servicing Agreement (NovaStar Certificates Financing LLC), Sale and Servicing Agreement (NovaStar Certificates Financing LLC), Sale and Servicing Agreement (NovaStar Certificates Financing CORP)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee Certificate Administrator a report, prepared as of the close of business on the Determination Date (the “"Determination Date Report”"), and shall forward to the Trustee Certificate Administrator in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trusteereport. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee Certificate Administrator for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee Certificate Administrator from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Payment Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee Certificate Administrator in providing all information as is reasonably requested by the Trustee Certificate Administrator to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee and the Certificate Administrator shall be fully protected in relying upon the same without any independent check or verification.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2002-1), Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp)
Determination Date Reports. On the second Business Day following each Determination Date (the “Servicer Reporting Date”), the Servicer shall deliver to the Indenture Trustee a report, prepared as of the close of business on the Determination Date (the “Determination Date Report”), and shall forward to the Indenture Trustee in the form of computer readable electronic file, electromagnetic tape or disk a copy of such report in a format acceptable to the Indenture Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Indenture Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Indenture Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Payment Account pursuant to Section 3.075.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Indenture Trustee in providing all information as is reasonably requested by the Indenture Trustee to prepare the reports required under the this Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Indenture Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (NovaStar Mortgage Funding Trust, Series 2006-1), Sale and Servicing Agreement (NovaStar Certificates Financing CORP), Sale and Servicing Agreement (NovaStar Certificates Financing CORP)
Determination Date Reports. On the second Business Day (or, if the Backup Servicer becomes the successor Servicer, the third Business Day) following each Determination Date (the “Servicer Reporting Date”), the Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Determination Date (the “Determination Date Report”), and shall forward to the Trustee in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trustee. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee in providing all information as is reasonably requested by the Trustee to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust, Series 2007-1), Pooling and Servicing Agreement (NovaStar Certificates Financing CORP), Pooling and Servicing Agreement (Novastar Mortgage Funding Trust, Series 2007-1)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee Certificate Administrator a report, prepared as of the close of business on the Determination Date (the “"Determination Date Report”"), and shall forward to the Trustee Certificate Administrator in the form of computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trusteereport. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee Certificate Administrator for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee Certificate Administrator from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee Certificate Administrator in providing all information as is reasonably requested by the Trustee Certificate Administrator to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee and the Certificate Administrator shall be fully protected in relying upon the same without any independent check or verification.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Trust Series 2002-3), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Series 2002-2)
Determination Date Reports. On the second Business Day following each Determination Date, the Master Servicer shall deliver to the Indenture Trustee a report, prepared as of the close of business on the Determination Date (the “"Determination Date Report”"), and shall forward to the Trustee in the form of computer readable electromagnetic a magnetic tape or disk a copy of or such report in a format acceptable other method as to which the TrusteeMaster Servicer and Indenture Trustee shall agree. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Master Servicer and that is required by the Indenture Trustee for purposes of making the calculations and providing the reports referred to in this Agreementthe Indenture, as set forth in written specifications or guidelines issued by the Indenture Trustee from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Payment Account pursuant to Section 3.07. Such information In addition, prior to each Payment Date, the Master Servicer shall also include (a) determine the number total amount of Mortgage Loans Realized Losses, if any, that prepaid resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Collection Period and the total amount of Realized Losses incurred due to a High LTV Loan being 180 days or more delinquent. The amount of each Realized Loss shall be evidenced by an Officer's Certificate delivered to the Indenture Trustee and the Bond Insurer with the related Determination Date Report in the previous month; (b) month following the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) month during which the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee in providing all information as is reasonably requested by the Trustee to prepare the reports required under the AgreementHigh LTV Loan becomes 180 days delinquent. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be fully protected in relying upon the same without any independent check or verification.
Appears in 1 contract
Samples: Servicing Agreement (Imh Assets Corp Collateralized Asset-Backed BDS Ser 1999-2)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee Certificate Administrator a report, prepared as of the close of business on the Determination Date (the “"Determination Date Report”"), ------------------------- and shall forward to the Trustee Certificate Administrator in the form of computer readable electromagnetic tape or disk or any other electronic media acceptable to the Certificate Administrator a copy of such report in a format acceptable to the Trusteereport. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee Certificate Administrator for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee Certificate Administrator from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Payment Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee Certificate Administrator in providing all information as is reasonably requested by the Trustee Certificate Administrator to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee and the Certificate Administrator shall be fully protected in relying upon the same without any independent check or verification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2001-1)
Determination Date Reports. On the second Business Day following each Determination Date, the Servicer shall deliver to the Trustee Certificate Administrator a report, prepared as of the close of business on the Determination Date (the “"Determination Date ------------------ Report”"), and shall forward to the Trustee Certificate Administrator in the form of ------ computer readable electromagnetic tape or disk a copy of such report in a format acceptable to the Trusteereport. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Servicer and that is required by the Trustee Certificate Administrator for purposes of making the calculations and providing the reports referred to in this Agreement, as set forth in written specifications or guidelines issued by the Trustee Certificate Administrator from time to time. Such information shall include the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Distribution Payment Account pursuant to Section 3.07. Such information shall also include (a) the number of Mortgage Loans that prepaid in the previous month; (b) the loan balance of each such Mortgage Loan; (c) whether a prepayment penalty was applied to such Mortgage Loan; and (d) the amount of prepayment penalty with respect to each such Mortgage Loan. The Servicer agrees to cooperate with the Trustee Certificate Administrator in providing all information as is reasonably requested by the Trustee Certificate Administrator to prepare the reports required under the Agreement. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee and the Certificate Administrator shall be fully protected in relying upon the same without any independent check or verification.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp)