Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-15), Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 5.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance Errors and Omissions Insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy it shall in no event be terminated or materially modified without make best efforts to provide 30 days' ’ prior written notice to the PurchaserPurchaser before terminating or materially modifying such Fidelity Bond or Errors or Omissions Insurance Policy.
Appears in 2 contracts
Samples: Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Sasco 2006-Bc3), Mortgage Loan Purchase Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Servicing Agreement (Structured Asset Securities Corp 2004-S3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide[$5,000,000]. Upon the request of the Purchaser, the Seller shall cause to be delivered to the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Master Interim Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Master Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the any Purchaser, the Seller shall cause to be Compaxx xxxlx xause xx xx delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Trust Agreement (GSAA Home Equity Trust 2005-3), Trust Agreement (GSAA Home Equity Trust 2005-3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Xxxxxx Xxx Guides or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxxxxxx Xxx Xxxxxxx' ’ & Servicers' ’ Guide. Upon the request of the PurchaserMaster Servicer, the Seller Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Purchaser such party a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the PurchaserMaster Servicer or the NIMS Insurer.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-5), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2007-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Servicing Agreement (Greenwich Capital Acceptance Inc), Servicing Agreement (Structured Asset Mortgage Investments Inc)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideacceptable to GNMA. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 2 contracts
Samples: Seller's Warranties and Servicing Agreement (Gs Mortgage Securities Corp), Seller's Warranties and Servicing Agreement (Gs Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in acceptable to Xxxxxx Mae, Xxxxxxx Mac, or, with respect to the Fxxxxx Mxx Guides Non-Conventional Mortgage Loans, GNMA or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideVA, as applicable. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae Xxxxxx Xxx in the Fxxxxx Mxx Guides Xxxxxx Mae Mortgage-Backed Securities Selling and Servicing Guide or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxxxxxx Xxx Xxxxxxx' ’ & Servicers' ’ Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy policy, or a certificate of insurance setting forth the related coverage, and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (LMT 2006-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to FNMA or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the any Purchaser, the Seller Company shall cause to caxxx xx be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companiescompanies that meet the requirements of Fxxxxx Mae or Fxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by acceptable to Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (RBSGC Mortgage Loan Trust 2007-B)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideand Freddie Mac. Upon the request of the PurchaserXxxx xhx xequesx xx xxy Owner, the Seller Servicer shall cause to be delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Series 2003-7h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("“Seller Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae Xxxxxx Xxx in the Fxxxxx Mxx Xxxxxx Mae Guides or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac Guides. Upon the request of the Purchaser, the Seller shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (Lehman XS Trust Series 2007-7n)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Xxxxxx Xxx Guides or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the PurchaserMaster Servicer, the Seller Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Purchaser such party a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserMaster Servicer, the Trustee or the NIMS Insurer.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request rxxxxxx of the Purchaserany Xxxxxxxer, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Fannie Mae Guides or by Fxxxxxx Freddie Mac in the Fxxxxxx Freddix Xxx XxxxxxxSxxxers' & ServicersSxxxxxxrs' Guide. Upon the request thx xxxxxst of the Purchaserany Owxxx, the Seller shall xxx Xxxxxxxx xhall cause to be delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Securities Corp Mort Pass Thru Ser 2004-5h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the any Purchaser, the Seller shall cause Company xxxxx xxxse tx xx xxlivered to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideAgencies. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy certificate of insurance for such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2007-Sd2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the any Purchaser, the Seller shall Compaxx xxxll cause to be xx xx delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GS Mortgage GSAA Home Eq. Trust 2004-7)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in acceptable to Xxxxxx Xxx, Freddie Mac, or, with respect to the Fxxxxx Mxx Guides Non-Conventional Mortgage Loans, GNMA or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideVA, as applicable. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of have coverage at least as broad as the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide$100,000,000. Upon the request of the Purchaser, the Seller Servicer shall cause to be delivered to the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 Bc1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause to be delivered to the Purchaser Master Servicer or the Indenture Trustee, as the case may be, a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy Errors and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOmissions Insurance Policy.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (First NLC Securitization, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 5.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance Errors and Omissions Insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy it shall in no event be terminated or materially modified without make best efforts to provide 30 days' ’ prior written notice to the PurchaserPurchaser before terminating or materially modifying such Fidelity Bond or Errors or Omissions Insurance Policy.
Appears in 1 contract
Samples: Servicing Agreement (Sail 2006-3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be with a company acceptable to Faxxxx Xae or Frxxxxx Xac and in amounts at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to Faxxxx Xae or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFrxxxxx Xac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Seller's Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideand Freddie Mac. Upon the request of the PurchaserXxxx txx requexx xx xny Owner, the Seller Servicer shall cause to be delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Eligible Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage an Eligible Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuidelines. Upon the request of the PurchaserAdministrative Agent, the Seller Servicer shall cause to be delivered to the Purchaser Administrative Agent a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaserpolicy.
Appears in 1 contract
Samples: Mortgage Loan Repurchase and Servicing Agreement (PHH Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides xx xxx Xxxnie Mae Xxxxxxge-Backed Securities Selling and Servicing Guide or by Fxxxxxx Freddie Mac in the Fxxxxxx Xxx xx xxx Freddie Mac Xxxxxxx' & ServicersXxxxxxxrs' Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy policy, or a certificate of insurance setting forth the related coverage, and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (Lehman XS Trust Series 2005-5n)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Xxxxxx Xxx Guides or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaserany Owner, the Seller Servicer shall cause to be delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without using commercially reasonable efforts to provide 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Greenwich Capital Acceptance Inc)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to FNMA or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFHLMC. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (Gs Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of have coverage at least as broad as the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide$100,000,000. Upon the request of the Purchaser, the Seller Servicer shall cause to be delivered to the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companiescompanies that meet the requirements of Xxxxxx Mae or Xxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (RBSGC 2007-A)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae FNMA in the Fxxxxx Mxx Guides FNMA Mortgage-Backed Securities Selling and Servicing Guide or by Fxxxxxx Mac FHLMC in the Fxxxxxx Xxx XxxxxxxFHLMC Sellers' & Servicers' Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (Structured Asset Securities Corp/Ny)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideand Freddie Mac. Upon the request of the Purchaserany Owner, the Seller Xxxxxxex shall cause xxxxx to be delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Sec Mort Pass Thru Cert Ser 2002-22h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 5.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance Errors and Omissions Insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy it shall in no event be terminated or materially modified without make best efforts to provide 30 days' ’ prior written notice to the PurchaserPurchaser before terminating or materially modifying such Fidelity Bond or Errors or Omissions Insurance Policy.
Appears in 1 contract
Samples: Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Sasco 2006-Bc4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx acceptable to Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the any Purchaser, the Seller Xxxxxxy shall cause to xxxxx xo be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GSAA Home Equity Trust 2006-6)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideand Freddie Mac. Upon the request of the Purchaserany Owner, the Seller shall cause Servicer sxxxx xause to be delivered bx xxxxxered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Eligible Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage an Eligible Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuidelines. Upon the request of the PurchaserAdministrative Agent, the Seller Servicer shall cause to be delivered to the Purchaser Administrative Agent a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaserpolicy.
Appears in 1 contract
Samples: Mortgage Loan Repurchase and Servicing Agreement (PHH Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2007-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Xxx. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Xxxxxx Xxx Guides or by Fxxxxxx Xxxxxxx Mac in the Fxxxxxx Xxxxxxx Xxx Xxxxxxx' & ServicersCompanys' Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without using commercially reasonable efforts to provide 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Company Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides acceptable to Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.
Appears in 1 contract
Samples: Servicing Agreement (Greenwich Capital Acceptance Inc)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides Xxxxxx Xxx or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Fannie Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' Guideand Freddie Mac. Upon the request of the Purchaserany Owner, the Seller shall cause to be Servxxxx xhxxx causx xx xx delivered to the Purchaser such Owner a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the PurchaserOwner.
Appears in 1 contract
Samples: Master Servicing Agreement (Structured Asset Securities Corp Mort Pass Thru Ser 2004-5h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by Fxxxxx Xxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to the such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' ’ prior written notice to the Purchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Eligible Loans ("Seller “Company Employees"”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage an Eligible Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuidelines. Upon the request of the Purchaser, the Seller Servicer shall cause to be delivered to the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaserpolicy.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (PHH Corp)