Common use of Notice Letters of Transfer Clause in Contracts

Notice Letters of Transfer. Prior to the Servicing Transfer Date, unless otherwise agreed by the parties and the relevant Securities Insurer or Trustee, the Purchaser and the Seller shall, at the Seller's expense, notify each Borrower of the transfer of servicing and instruct the Borrower to remit all Monthly Payments and all tax and insurance notices to the account designated by the Purchaser after the Servicing Transfer Date. Such letters shall be mailed on such date and be in such form as is reasonably acceptable to the Seller and the Purchaser. The Seller and the Purchaser shall exchange copies of the "hello-goodbye" letters with each other prior to mailing such letters and shall cooperate on a joint mailing program for notification to the Borrowers. The Seller shall also, at the Seller's expense, notify any Custodian and insurance companies and/or agents, that servicing is being transferred and instruct such entities to deliver all payments, notices, and insurance statements to the Purchaser after the Servicing Transfer Date. Such notices shall instruct such entities to deliver, from and after the Servicing Transfer Date, all applicable payments, notices, bills, statements, records, files and other documents to the Purchaser. All such notices sent to hazard, flood, earthquake, private mortgage guarantee and other insurers shall comply with the requirements of the applicable master policies and shall instruct such insurers to change the mortgagee clause to "Ocwen Federal Bank FSB [Ocwen Loan Services, LLC], its successors and assigns" or as otherwise required under applicable Servicing Requirements. Other than the costs related to the Purchaser's "welcome letters," the Seller shall be responsible for the cost of preparing and delivering all notices described in this Section.

Notice Letters of Transfer. Prior to the Servicing applicable Transfer Date, unless otherwise agreed by the parties and the relevant Securities Insurer or Trusteeparties, the Purchaser and the Seller Sellers shall, at the Seller's Sellers' expense, notify each Borrower Obligor of the transfer of servicing the Servicing Rights and instruct the Borrower Obligor to remit all Monthly Scheduled Payments and all tax and insurance notices to the account designated by the Purchaser after the Servicing such Transfer Date. Such letters shall be mailed on such date and be in such form -24- as is reasonably acceptable to the Seller Sellers and the Purchaser. The Seller and the Purchaser Sellers shall exchange copies of the "hello-goodbye" letters with each other the Purchaser prior to mailing such letters and the Sellers and the Purchaser shall cooperate on a joint mailing program for notification to the BorrowersObligors. The Seller Sellers shall also, at the Seller's expense, notify any Custodian and and, with respect to any Mortgage Loans with Escrow Accounts, any insurance companies and/or agents, that servicing is the Servicing Rights are being transferred and instruct such entities to deliver all payments, notices, and insurance statements to the Purchaser after the Servicing applicable Transfer Date. Such notices shall instruct such entities to deliver, from and after the Servicing applicable Transfer Date, all applicable payments, notices, bills, statements, records, files and other documents to the Purchaser. All such notices sent to hazard, flood, earthquake, private mortgage guarantee (such notice only required to the extent the mortgage insurance premium not fully paid at closing) and other insurers shall comply with the requirements of the applicable master policies and shall instruct such insurers to change the mortgagee clause to "Ocwen Federal Bank FSB [Ocwen Loan ServicesFSB, LLC]as servicer for the mortgagee, its successors and assigns" or as otherwise required under applicable Servicing Requirements. Other than the costs related to the Purchaser's "welcome letters," the Seller The Sellers shall be responsible for the cost of preparing and delivering all notices described in this Section and shall provide the Purchaser with a copy of the form of each notice used by the Sellers to comply with this Section.

Notice Letters of Transfer. Prior to the Servicing Transfer Date, unless otherwise agreed by the parties and the relevant Securities Insurer or Trustee, the The Purchaser and the Seller shall, at the Seller's ’s expense, notify each Borrower of the transfer of servicing and instruct the Borrower to remit all Monthly Payments and all tax and insurance notices to the account designated by the Purchaser after the Servicing Transfer DateDate within the timeframes required under, and in accordance with, the Xxxxxxxx Xxxxxxxx National Affordable Housing Act of 1990 and any other applicable laws. Such letters shall be mailed on such date and be in such form as is reasonably acceptable to the Seller and the Purchaser. The Seller and the Purchaser shall exchange copies of the "“hello-goodbye" ” letters with each other prior to mailing such letters and shall cooperate on a joint mailing program for notification to the Borrowers. The Seller shall also, at the Seller's ’s expense, notify any Custodian and insurance companies and/or agents, that servicing is being transferred and instruct such entities to deliver all payments, notices, and insurance statements to the Purchaser after the Servicing Transfer Date. Such notices shall instruct such entities to deliver, from and after the Servicing Transfer Date, all applicable payments, notices, bills, statements, records, files and other documents to the Purchaser. All such notices sent to hazard, flood, earthquake, private mortgage guarantee and other insurers shall comply with the requirements of the applicable master policies and shall instruct such insurers to change the mortgagee clause to "Ocwen Federal Bank FSB [Ocwen Loan Services, LLC“[ ], its successors and assigns" ” or as otherwise required under applicable Servicing Requirements. Other than the costs related to the Purchaser's "’s “welcome letters," ” the Seller shall be responsible for the cost of preparing and delivering all notices described in this Section.

Notice Letters of Transfer. Prior to the Servicing Transfer Date, unless otherwise agreed by the parties and the relevant Securities Insurer or Trustee, the The Purchaser and the Seller shall, at the Seller's ’s expense, notify each Borrower of the transfer of servicing and instruct the Borrower to remit all Monthly Payments and all property tax and insurance notices to the account designated by the Purchaser after the Servicing Transfer DateDate within the timeframes required under, and in accordance with any applicable laws and applicable Investor Guidelines. Such letters shall be mailed on such date and be in such form as is reasonably acceptable to the Seller and the Purchaser. The Seller and the Purchaser shall exchange copies of the "“hello-goodbye" ” letters with each other prior to mailing such letters and shall cooperate on a joint mailing program for notification to the Borrowers. The Seller shall also, at the Seller's ’s expense, notify any Custodian and insurance companies and/or agents, that servicing is being transferred and instruct such entities to deliver all payments, notices, and insurance statements to the Purchaser after the Servicing Transfer Date. Such notices shall instruct such entities to deliver, from and after the Servicing Transfer Date, all applicable payments, notices, bills, statements, records, files and other documents to the Purchaser. All such notices sent to hazard, flood, earthquake, private mortgage guarantee and other insurers shall comply with the requirements of the applicable master policies and shall instruct such insurers to change the mortgagee clause to "Ocwen Federal Bank FSB [Ocwen Loan Services, LLC“[ ], its successors and assigns" ” or as otherwise required under applicable Servicing Requirements. Other than the costs related to the Purchaser's "’s “welcome letters," ” the Seller shall be responsible for the cost of preparing and delivering all notices described in this Section.