High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan", "high cost home", "covered", "high cost", "high risk home", "predatory" or similarly classified loan under any applicable state, federal or local law, the Servicer may notify the Depositor and the Trustee thereof; the Servicer may terminate its servicing thereof; and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders in such Mortgage Loan and the Seller will repurchase the Mortgage Loan within a 30 day period from the date of such notice in the manner described in Section 2.02.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ff6), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ffh1)
High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan", "high cost home", "covered", "high cost", "high risk home", "predatory" or similarly classified loan under any applicable state, federal or local law, the Servicer may notify the Depositor Depositor, the related Seller and the Trustee thereof; the Servicer may terminate its servicing thereof; and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders and the Class A Certificate Insurer in such Mortgage Loan and the related Seller will repurchase the Mortgage Loan within a 30 day period from the date of such the notice in the manner described in Section 2.022.03.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
