Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing Agreements, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Fargo Bank, National Association. In connection with the transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master Servicer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s loan number, (b) the Mortgagor’s name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within such 120 day period the Indenture Trustee shall provide the final certification, in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Irwin Whole Loan Home Equity Trust 2004 A)
Mortgage File. In connection with The Depositor shall deliver to the sale of Custodian and the Custodian agrees to accept the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase Note and Servicing Agreements, other documents constituting the Mortgage File with respect to any Substitute Mortgage Loan. From time to time as is appropriate for the servicing or foreclosure of any Mortgage Loan, including, for this purpose, collection under any Primary Insurance Policy, the Servicer or the Subservicer shall (or if the Servicer or the Subservicer does not, the Master Servicer may) deliver to the Custodian a Request for Release signed by a Servicing Officer requesting that possession of all of the Mortgage File be released to the Servicer or the Subservicer and certifying as to the reason for such release and that such release will not invalidate any insurance coverage provided in respect of the Mortgage Loan under any of the Insurance Policies. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File to the Servicer or the Subservicer. The Servicer or the Subservicer shall cause each Mortgage File or any document therein so released to be returned to the Custodian when the need therefore by the Servicer or the Subservicer no longer exists, unless (a) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Payment Account or (b) the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Servicer or the Subservicer has delivered to the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. At any time that the Servicer or the Subservicer is required to Xxxxx Fargo Bankdeliver to the Custodian a Request for Release, National Associationthe Servicer or the Subservicer shall deliver two copies of the Request for Release, if delivered in hard copy or the Servicer or the Subservicer may furnish such Request for Release electronically to the Custodian, in which event the Servicing Officer transmitting the same shall be deemed to have signed the Request for Release. In connection with any Request for Release of a Mortgage File because of a repurchase of a Mortgage Loan, such Request for Release shall be followed by an assignment of mortgage executed by the transfer Indenture Trustee, prepared by and at the request of the Mortgage Loans on Servicer, the Closing DateSubservicer or Master Servicer, without recourse, representation or warranty from the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor Seller and the Master Servicer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s loan number, (b) the Mortgagor’s name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within such 120 day period the Indenture Trustee Note shall provide the final certification, in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided endorsed without recourse by the Indenture Trustee (if not in blank) and be returned to the Seller. In connection with any Securityholder (Request for Release of a Mortgage File because of the payment in full of a Mortgage Loan, such Request for Release shall be accompanied by a certificate of satisfaction or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect other similar instrument to be corrected executed by or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms on behalf of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether returned to the text of any assignment Servicer or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to beSubservicer.
Appears in 1 contract
Samples: Custodial Agreement (Peoples Choice Home Loan Securities Trust Series 2005-4)
Mortgage File. In connection with such transfer and ------------- assignment, the sale of the Mortgage Loans Master Servicer shall deliver to the Depositor pursuant to the Mortgage Loan Purchase and Servicing Agreements, Indenture Trustee the Mortgage File with respect to each Initial Mortgage Loan was delivered on the Closing Date, and shall deliver the Mortgage File with respect to Xxxxx Fargo Bank, National Associationeach Subsequent Mortgage Loan on the related Subsequent Transfer Date. In connection with the transfer of the Initial Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master Servicer. The Indenture Trustee shall not distribute the initial certification to any other partyEnhancer. Within 120 90 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents (or, in the case of the Initial Mortgage Loans the Mortgage Note) are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s Originator's loan number, (b) the Mortgagor’s 's name, (c) the address (including city state and stateZIP code) of the related Mortgaged Property, (d) the original principal balance balance, (e) the initial interest rate and (ef) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 90 day period period, the Indenture Trustee shall provide finds any Mortgage Document constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the final certificationMortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Transferor in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list Transferor shall have a period of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of after such notice, notice within which to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreementcured. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Irwin Home Eq Lo Tr 1999-2)
Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing AgreementsAgreement, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Fargo Bank, National Association. N.A. In connection with the transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master Servicer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s loan number, (b) the Mortgagor’s name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within such 120 day period the Indenture Trustee shall provide the final certification, in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Irwin Whole Loan Home Equity Trust 2005-A)
Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing AgreementsAgreement, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Fargo Bank, National Association[Name of Indenture Trustee]. In connection with the transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master ServicerDepositor. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 [120] days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s 's loan number, (b) the Mortgagor’s 's name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 [120] day period period, the Indenture Trustee shall provide finds any Mortgage Document (other than a Mortgage Note for which the final certificationIndenture Trustee has received a lost note affidavit) constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Master Servicer and the Depositor in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 [120] days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC)
Mortgage File. In connection with such transfer and assignment, the sale of the Mortgage Loans Master Servicer shall deliver to the Depositor pursuant to the Mortgage Loan Purchase and Servicing Agreements, Indenture Trustee the Mortgage File with respect to each Initial Mortgage Loan was delivered on the Closing Date, and shall deliver the Mortgage File with respect to Xxxxx Fargo Bank, National Associationeach Subsequent Mortgage Loan on the related Subsequent Transfer Date. In connection with the transfer of the Initial Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master ServicerDepositor. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s Originator's loan number, (b) the Mortgagor’s 's name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance balance, (e) the initial interest rate and (ef) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 day period period, the Indenture Trustee shall provide finds any Mortgage Document (other than a Mortgage Note for which the final certificationIndenture Trustee has received a lost note affidavit pursuant to Section 2.05 of the Mortgage Loan Sale Agreement) constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Transferor in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer Transferor shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to notice correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms Section 3.04 of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Irwin Home Eq Lo Tr 2001-2)
Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing Agreements, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Fargo BankBank Minnesota, National Association. In connection with the transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E F hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master ServicerEnhancer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s 's loan number, (b) the Mortgagor’s 's name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 day period period, the Indenture Trustee shall provide finds any Mortgage Document (other than a Mortgage Note for which the final certificationIndenture Trustee has received a lost note affidavit) constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Master Servicer, the Depositor and the Enhancer in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Mortgage File. In connection with The Master Servicer shall deliver to the sale of Custodian and the Custodian agrees to accept the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase Note and Servicing Agreements, other documents constituting the Mortgage File with respect to each any Qualified Substitute Mortgage Loan was delivered Loan. From time to Xxxxx Fargo Banktime as is appropriate for the servicing or foreclosures of any Mortgage Loan, National Association. In connection with including, for this purpose, collection under any Primary Insurance Policy or any Mortgage Pool Insurance Policy, the transfer Master Servicer shall deliver to the Custodian a certificate of a Servicing Officer requesting that possession of all, or any document constituting part, of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master Servicer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s loan number, (b) the Mortgagor’s name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within such 120 day period the Indenture Trustee shall provide the final certification, in the form of the certificate attached as Exhibit F hereto, be released to the Master Servicer and certifying as to the Depositor. The list of noted exceptions included on reason for such Exhibit F or of release and that such release will not invalidate any exceptions still existing after delivery insurance coverage provided in respect of the initial certification Mortgage Loan under any of the Required Insurance Policies. With such certificate, the Master Servicer shall not be provided deliver to the Custodian a trust receipt signed by a Servicing Officer on behalf of the Indenture Trustee Master Servicer, and upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or such document to any Securityholder (or beneficial owner thereof)the Master Servicer. The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct each Mortgage File or cure any such defect or to cause such defect document therein so released to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant returned to the terms of Custodian when the need therefor by the Master Servicer no longer exists, unless (i) the Mortgage Loan Purchase has been liquidated and Servicing Agreement. The Indenture Trustee shall the Liquidation Proceeds relating to the Mortgage Loan have no responsibility for reviewing any been deposited in the Custodial Account or (ii) the Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any such document has been recorded delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered to the Custodian a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. In the event of the liquidation of a Mortgage Loan, the Custodian shall deliver the Trust Receipt with respect thereto to the Master Servicer upon deposit of the related Liquidation Proceeds in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted Custodial Account as provided in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to bethe Pooling Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Accredit Loans Inc)
Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing AgreementsAgreement, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Wells Fargo BankBank Minnesota, National Association. In connection with the witx xxx transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and the Master ServicerDepositor. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s 's loan number, (b) the Mortgagor’s 's name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance and (e) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 day period period, the Indenture Trustee shall provide finds any Mortgage Document (other than a Mortgage Note for which the final certificationIndenture Trustee has received a lost note affidavit) constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Master Servicer and the Depositor in the form of the certificate attached as Exhibit F hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Mortgage File. In connection with the sale of the Mortgage Loans to the Depositor pursuant to the Mortgage Loan Purchase and Servicing AgreementsSale Agreement, the Mortgage File with respect to each Mortgage Loan was delivered to Xxxxx Fargo Bank, National Associationthe Indenture Trustee. In connection with the transfer of the Mortgage Loans on the Closing Date, the Indenture Trustee will deliver an initial certification, in the form of the certificate attached as Exhibit E hereto, certifying that it has received a Mortgage File containing a Mortgage Note or Loan Agreement for each such Mortgage Loan listed on the Mortgage Loan Schedule to the Depositor and and, with respect to the Master ServicerMortgage Loans in Group I, the Enhancer. The Indenture Trustee shall not distribute the initial certification to any other party. Within 120 days following each such delivery of Mortgage Files, the Indenture Trustee shall review each such Mortgage File to ascertain that the Mortgage Documents are contained therein and that such Mortgage Documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule. Furthermore, the Indenture Trustee shall review the following data elements contained in the Mortgage Loan Schedule (a) the Seller’s loan number, (b) the Mortgagor’s name, (c) the address (including city and state) of the related Mortgaged Property, (d) the original principal balance balance, (e) the initial interest rate and (ef) the maturity of the related Mortgage Note. In so doing, the Indenture Trustee may rely on the purported due execution and genuineness of any signature thereon. Within If, within such 120 day period period, the Indenture Trustee shall provide finds any Mortgage Document (other than a Mortgage Note for which the final certificationIndenture Trustee has received a lost note affidavit) constituting a part of a Mortgage File not to have been executed or received or to be unrelated to the Mortgage Loan identified in the Mortgage Loan Schedule, the Indenture Trustee shall, promptly upon the conclusion of its review, notify the Master Servicer, the Depositor and, with respect to the Mortgage Loans in Group I, the Enhancer in the form of the certificate attached as Exhibit F E hereto, to the Master Servicer and the Depositor. The list of noted exceptions included on such Exhibit F E or of any exceptions still existing after delivery of the initial certification shall not be provided by the Indenture Trustee to any Securityholder (or beneficial owner thereof). The Master Servicer shall cause the Seller or, if applicable, the Depositor within 120 days of its receipt of such notice, to correct or cure any such defect or to cause such defect to be corrected or cured or to substitute for or repurchase the affected Mortgage Loan pursuant to the terms of the Mortgage Loan Purchase and Servicing Sale Agreement. The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided in this Section. In reviewing any Mortgage File pursuant to this Section, the Indenture Trustee shall have, without limitation, no responsibility for determining whether any document is valid and binding, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Indenture Trustee is the assignee or endorsee thereof), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, whether any Person executing any document is authorized to do so or whether any signature thereon is genuine, but shall only be required to determine whether a document has been executed and that it appears to be what it purports to be.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)