Maintenance of Servicing Files. The Servicer shall maintain a Servicing File consisting of all documents necessary to service the Mortgage Loans. The possession of each Servicing File by the Servicer is for the sole purpose of servicing the Mortgage Loan, and such retention and possession by the Servicer is in a custodial capacity only. The Servicer acknowledges that the ownership of each Mortgage Loan, including the Note, the Mortgage, all other Mortgage Loan Documents and all rights, benefits, proceeds and obligations arising therefrom or in connection therewith, has been vested in the Owner. All rights arising out of the Mortgage Loans including, but not limited to, all funds received on or in connection with the Mortgage Loans and all records or documents with respect to the Mortgage Loans prepared by or which come into the possession of the Servicer shall be received and held by the Servicer in trust for the exclusive benefit of the Owner as the owner of the related Mortgage Loans. Any portion of the related Servicing Files retained by the Servicer shall be appropriately identified in the Servicer's computer system to clearly reflect the ownership of the related Mortgage Loans by the Owner. The Servicer shall release its custody of the contents of the related Servicing Files only in accordance with written instructions of the Owner, except when such release is required as incidental to the Servicer's servicing of the Mortgage Loans, such written instructions shall not be required.
Maintenance of Servicing Files. The Company, simultaneously with the execution and delivery of this Agreement, does hereby sell, transfer, assign, set over and convey to the Purchaser, without recourse, but subject to the terms of this Agreement, all the right, title and interest of the Company in and to the Mortgage Loans. Pursuant to Section 2.03, the Company has delivered the Mortgage Loan Documents to the Custodian. The contents of each Mortgage File not delivered to the Custodian are and shall be held in trust by the Company for the benefit of the Purchaser as the owner thereof. The Company shall maintain a Servicing File consisting of a copy of the contents of each Mortgage File and the originals of the documents in each Mortgage File not delivered to the Custodian. The possession of each Servicing File by the Company is at the will of the Purchaser for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Company is in a custodial capacity only. Upon the sale of the Mortgage Loans the ownership of each Mortgage Note, the related Mortgage and the related Mortgage File and Servicing File shall vest immediately in the Purchaser, and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Company shall vest immediately in the Purchaser and shall be retained and maintained by the Company, in trust, at the will of the Purchaser and only in such custodial capacity. The Company shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Purchaser, unless such release is required as incidental to the Company's servicing of the Mortgage Loans or is in connection with a repurchase of any Mortgage Loan pursuant to Section 3.03 or 6.02. All such costs associated with the release, transfer and re-delivery to the Company shall be the responsibility of the Purchaser.
Maintenance of Servicing Files. Ocwen shall maintain the servicing file with respect to each Mortgage Loan pursuant to Applicable Law and customary industry practice and shall retain any information about the Mortgage Loans which is prepared by or comes into the possession of Ocwen during the term of this Agreement (the “Servicing Information”). All rights to and interest in the Servicing Information shall immediately vest in Servicer and the servicing files and Servicing Information shall be held and maintained in trust by Ocwen. The documents comprising the servicing files and Servicing Information shall be appropriately identified from the other books and records of Ocwen and shall be appropriately marked to clearly reflect the ownership interest of Servicer.
Maintenance of Servicing Files. The Servicer shall maintain a Servicing File consisting of all documents necessary to service the Mortgage Loans. The possession of each Servicing File by the Servicer is for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Servicer is in a custodial capacity only. The Servicer acknowledges that the ownership of each Mortgage Loan is vested in the Owner. All rights arising out of the Mortgage Loans including all funds received on or in connection with the Mortgage Loans and all records or documents with respect to the Mortgage Loans prepared by or which come into the possession of the Servicer shall be received and held by the Servicer for the sole purpose of servicing the Mortgage Loans and such retention and possession by the Servicer is in a custodial capacity only in trust for the exclusive benefit of the Owner as the owner of the related Mortgage Loans. Any portion of the related Servicing Files retained by the Servicer shall be appropriately identified in the Servicer's computer system to reflect clearly the ownership of the related Mortgage Loans by the Owner. The Servicer shall release its custody of the contents of the related Servicing Files only in accordance with written instructions of the Owner, except when such release is required as incidental to the Servicer's servicing of the Mortgage Loans, such written instructions shall not be required. At least 15 days prior to the related transfer date, the Servicer shall provide the prior servicer with transfer procedures outlining the delivery requirements for the Servicing Files. The Owner shall use commercially reasonable efforts to ensure that (i) the prior servicer delivers the contents of the Servicing Files to the Servicer for receipt no more than five (5) Business Days after the related transfer date; (ii) the delivery of each Servicing File is accompanied by an electronic transmittal to include, at a minimum, the prior servicer's loan number, the Mortgagor's last name, the original loan amount and the box number for each Servicing File; (ii) each box of Servicing Files contains a hard copy of the electronic transmittal for the Servicing Files contained in such box; and (iv) the Servicing Files are in a consistent stacking order, secured and clearly labeled with the Mortgagor's name and prior servicer's loan number.
Maintenance of Servicing Files. The Company shall maintain a Servicing File consisting of all records required to service the Mortgage Loan. Each Servicing File shall be marked appropriately to reflect clearly the sale of the related Mortgage Loan to the Purchaser, and records relating to the Servicing Files will reflect their segregation from other files in the Servicer's possession. Ownership of Servicing Files shall be retained by the Company.
Maintenance of Servicing Files. GMACM shall maintain a Servicing File as to each Loan on film or hard copy containing the Closed Loan File and all correspondence, records and other documents received or generated by or on behalf of GMACM with respect to that Loan. If the Closed Loan Data Files are electronically transmitted to GMACM, hard copy files will be created only for Loans having other items such as correspondence and reports.
Maintenance of Servicing Files. Subservicer shall maintain a Servicing File as to each Loan on film or hard copy containing the Loan Data Report and all correspondence, records and other documents received or generated by or on behalf of Subservicer with respect to that Loan.
Maintenance of Servicing Files. The Servicer shall maintain a Servicing File consisting of a copy of the contents of each Mortgage File. The possession of each Servicing File by the Servicer shall be at the will of the Owner, for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Servicer shall be in a custodial capacity only. Any portion of the Mortgage Files retained by the Servicer shall be identified appropriately in the Servicer’s computer system to clearly reflect the ownership of the Mortgage Loans by the Owner. The Servicer shall release its custody of the contents of the Mortgage Files only in accordance with written instructions of the Owner, except that when such release is required as incidental to the Servicer’s servicing of the Mortgage Loans (if applicable) or is in connection with a repurchase of any Mortgage Loan or Loans with respect thereto, such written instructions shall not be required.
Maintenance of Servicing Files. The Servicer shall maintain a Servicing File consisting of all documents necessary to service the Mortgage Loans. The possession of each Servicing File by the Servicer is for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Servicer is in a custodial capacity only. The Servicer acknowledges that the ownership of each Mortgage Loan is vested in the Trust. All rights arising out of the Mortgage Loans including all funds received on or in connection with the Mortgage Loans and all records or documents with respect to the Mortgage Loans prepared by or which come into the possession of the Servicer shall be received and held by the Servicer for the sole purpose of servicing the Mortgage Loans and such retention and possession by the Servicer is in a custodial capacity only in trust for the exclusive benefit of the Trust. Any portion of the related Servicing Files retained by the Servicer shall be appropriately identified in the Servicer’s computer system to reflect clearly the ownership of the related Mortgage Loans by the Trust. The Servicer shall release its custody of the contents of the related Servicing Files only in accordance with this Agreement.
Maintenance of Servicing Files. The Company shall maintain a ------------------------------ Servicing File consisting of all records required to service the Mortgage Loan. Each Servicing File shall be marked appropriately to reflect clearly the sale of the related Mortgage Loan to the Purchaser, and records relating to the Servicing Files will reflect their segregation from other files in the Servicer's possession. Ownership of Servicing Files shall be retained by the Company. The Company shall release the contents of any Servicing File only in accordance with written instructions from the Purchaser or its designee, unless such release is required as incidental to the Company's servicing of the Mortgage Loans or relates to a repurchase of any Mortgage Loan pursuant to Section 3.03 or Section 6.02. In the event the Company resigns or is terminated in accordance with the terms of this Agreement, the Company shall within a reasonable time thereafter release the Servicing Files to Purchaser or its designee.
