Loan Modification Program. The Purchaser shall complete the processing of all Mortgage Loan modifications in process pursuant to the Program as of the Closing Date and will honor all offers of modifications for which processing has not yet commenced in accordance with the terms of the Program. In addition, the Purchaser agrees that it will comply with the Program for so long as any financing provided by the Seller in connection with the purchase of the Servicing Rights remains outstanding. The Purchaser agrees that it will comply with the Program as it may be amended by the FDIC from time to time, provided, however, that, unless otherwise required by Law, the Purchaser shall not be required to comply with any changes to the Program after the Closing Date if such changes would (i) require the Purchaser to take any action in violation of applicable Law or the terms of any Servicing Agreement then in effect or (ii) result in the net present value of the estimated cash flows on the related Loan, discounted at the Then-Current Interest Rate, after any such change being less than the net present value of such Loan prior to such change. The Purchaser acknowledges and agrees that it will be required to comply with reporting requirements with respect to the Program that are acceptable to the FDIC in order to allow the FDIC to monitor compliance with, and the results of, the Program.
Loan Modification Program. The Servicer must at its expense, (a) evaluate each Loan for purposes of its eligibility for a potential modification pursuant to the Loan Modification Program, (b) for any eligible Loan, (i) take into consideration, (ii) discuss with the Manager, and (iii) in the event of any discussions with the Borrower in respect of a Loan modification, discuss with such Borrower, potential modifications under the Loan Modification Program, (c) where directed by the Manager, implement modifications pursuant to the Loan Modification Program, and (d) for any Loan subject to a modification pursuant to the Loan Modification Program, comply (and cause each applicable Subservicer to comply), and cause the Company to comply, as the case may be, with the terms of the Loan Modification Program, as applicable to such Loan.
Loan Modification Program. The Servicer shall at its expense take any and all steps as may be necessary to qualify for, and to maintain its qualification for, the Loan Modification Program.
Loan Modification Program. For all SFR Loans, the Servicer shall at its expense comply (and cause each applicable Sub-Servicer to comply) with the terms of the Loan Modification Program, as more fully described in Exhibit C.
