Common use of Mortgage Lender to Transfer Mortgage Loans and Servicing Thereof to Servicer Clause in Contracts

Mortgage Lender to Transfer Mortgage Loans and Servicing Thereof to Servicer. On the Purchase Date, the Mortgage Lender shall assign and transfer each Mortgage Loan to the Servicer in exchange for payment as provided in this Agreement. Under the Servicing Agreement, after the Purchase Date the Servicer will perform all servicing functions relating to each Mortgage Loan until Mortgage Loans are secured in a Pool. After the issuance date of each Pool, the Servicer shall continue to service the Mortgage Loans and will be governed by the GNMA Guide and MBS Agreement, the Xxxxxxx Mac Guide or the Xxxxxx Mae Guide, as applicable.

Mortgage Lender to Transfer Mortgage Loans and Servicing Thereof to Servicer. On the Purchase Date, the Mortgage Lender shall assign and transfer each Mortgage Loan to the Servicer in exchange for payment as provided in this Agreement. Under the Servicing Agreement, after the Purchase Date the Servicer will perform all servicing functions relating to each Mortgage Loan until Mortgage Loans are secured in a Pool. After the issuance date of each Pool, the Servicer shall continue to service the Mortgage Loans and will be governed by the GNMA Guide and MBS Agreement, the Xxxxxxx Mac Guide or the Xxxxxx Mae Xxx Guide, as applicable.