Final Certification and Recertification. MSR Owner shall cause the Document Custodian to promptly review, at MSR Owner’s expense, all Mortgage Loan Documents related to the Defended Loans and provide Subservicer with a missing/defective document exception report promptly following the applicable Agency Delivery Date and, on a monthly basis thereafter, MSR Owner shall or shall cause its Document Custodian to deliver to Subservicer and MSR Owner a list of the related Defended Loans (for which the related Servicing Rights were sold on such Agency Delivery Date) as to which the related Legal Documents have not been provided in full (the “Exceptions List”). Subservicer agrees that in connection with the final certification and/or recertification of any Pool or Defended Loan, Subservicer, at Subservicer’s expense, shall deliver to the Document Custodian all documents required for such final certification and/or recertification. No later than the tenth (10th) Business Day of each full calendar month following the delivery of the Exceptions List, MSR Owner shall cause the Document Custodian to provide to Subservicer status reports, document tracking reports and other related information that evidences that Subservicer is delivering documents, clearing exceptions and taking all other necessary actions in such manner as to permit final certification and/or recertification, as the case may be, as required under Applicable Requirements with respect to all Defended Loans. Subservicer and MSR Owner shall cooperate with each other and shall use commercially reasonable efforts to obtain recertification waivers from each of Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac, as applicable. If MSR Owner or its designee or the Document Custodian returns a Defended Loan required for final certification and/or recertification to Subservicer for correction or missing information, Subservicer, at its own cost and expense, shall promptly correct such Mortgage Loan Document related to the Defended Loans, insert the appropriate information, record such document if required, and return the document to MSR Owner, its designee or the Document Custodian, as applicable. If Subservicer does not take such actions and, as a result, MSR Owner cannot obtain by the deadline required by Applicable Requirements, the Agency-required certification or recertification of any Pool or Defended Loan, then, upon the request of MSR Owner, Subservicer shall (i) reimburse MSR Owner for any reasonable, documented out-of-pocket expense or cost incurred by MSR...
Final Certification and Recertification. (a) Seller shall use commercially reasonable efforts to obtain the final certification or recertification, as applicable, of any Mortgage Pool related to the Servicing Portfolio with respect to which the deadline for final document certification or document recertification is a date that occurs on or before the Closing Date. Seller shall provide and pay the cost of any letter of credit required by GNMA attributable to the final certification or recertification of the Servicing.
(b) Purchaser shall obtain such documents and shall take or cause to be taken such steps as are necessary to enable it, through the exercise of commercially reasonable efforts after the Closing Date, to obtain by the appropriate deadline the final certification or recertification, as applicable, of any Mortgage Pool related to the Servicing Portfolio with respect to which the deadline for final certification or recertification is after the Closing Date, including the recertification of Mortgage Pools in connection with the transfer of Servicing to Purchaser hereunder.
Final Certification and Recertification. Seller shall obtain such documents and shall take such steps as are necessary to enable Purchaser, through the exercise of reasonable efforts after the applicable Transfer Date, to obtain by the appropriate deadline the final certification and/or recertification, as applicable, of any Pool, including any required recertification of Pools in connection with the transfer of Servicing Rights to Purchaser hereunder. If Seller does not take such actions and, as a result, Purchaser cannot obtain by the appropriate deadline, through the exercise of reasonable efforts after the applicable Transfer Date, the final certification and/or recertification of any Pool, then upon the request of Purchaser, Seller shall (i) reimburse Purchaser for any reasonable expense or cost, including without limitation any internal expenses or costs, incurred by Purchaser in attempting to obtain final certification and/or recertification by the required deadline and (ii) reimburse Purchaser for any Losses resulting from, arising out of or relating to the failure to obtain final certification and/or recertification by the deadline. On and after the applicable Transfer Date, all documents necessary for the final certification and/or recertification of a Pool shall be delivered by Seller to Purchaser or Purchaser’s designee. If Purchaser’s document custodian returns a document to Purchaser for correction or missing information, Purchaser shall forward the document to Seller, and Seller shall promptly correct the document or insert the appropriate information and return the document to Purchaser.
Final Certification and Recertification. On and after the applicable Transfer Date, all documents necessary for the final certification and/or recertification of a Pool shall be delivered by Commercial Federal Bank to Xxxxx Fargo or its designee, within designated investor timelines. If Xxxxx Fargo’s document custodian returns a document to Xxxxx Fargo for correction or missing information, Xxxxx Fargo shall forward the document to Commercial Federal , and Commercial Federal shall promptly correct the document or insert the appropriate information and return the document to Xxxxx Fargo.
Final Certification and Recertification
