Mortgage Payments Received After Servicing Transfer Date. The Servicer shall forward the amount of any monthly payments received by the Servicer (or any subservicer) after the Servicing Transfer Date to the Standby Servicer by overnight mail on the date of receipt. The Servicer shall notify the Standby Servicer of the particulars of the payment, which notification requirement shall be satisfied (except with respect to Purchased Mortgage Loans then in foreclosure or bankruptcy) if the Servicer (or any subservicer) forwards with its payments sufficient information to the Standby Servicer. The Servicer shall assume full responsibility for the necessary and appropriate legal application of monthly payments received by the Servicer (or any subservicer) after the Servicing Transfer Date with respect to Purchased Mortgage Loans then in foreclosure or bankruptcy; provided, however, necessary and appropriate legal application of such monthly payments shall include, but not be limited to, endorsement of a Purchased Mortgage Loan monthly payment to the Standby Servicer with the particulars of the payment such as the account number, dollar amount, date received and any special mortgage application instructions.
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Samples: Indenture (loanDepot, Inc.), Indenture (loanDepot, Inc.), Indenture (loanDepot, Inc.)
