Common use of Origination and Servicing Practices Clause in Contracts

Origination and Servicing Practices. The origination and servicing of the Loans have been in accordance with Applicable Requirements, Accepted Servicing Practices and the terms of the Mortgage and Mortgage Note, and have been in all respects legal, proper and prudent in the mortgage origination and servicing business. All Mortgage Interest Rate adjustments have been made in compliance with applicable state and federal law and the terms of the related Mortgage and Mortgage Note on the related adjustment date. Seller executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and any payment adjustments. Any interest required to be paid pursuant to applicable state, federal and local law has been properly paid and credited. All escrow deposits and escrow payments, if any, are in the possession of, or under the control of, Seller and have been collected and handled in full compliance with Applicable Requirements. No escrow deposits or escrow payments or other charges or payments due the Seller have been capitalized under the Mortgage Note.

Origination and Servicing Practices. The origination and servicing of the Loans have been in beenin accordance with Applicable Requirements, Accepted Servicing Practices and the terms of the Mortgage and Mortgage Note, and have been in all respects legal, proper and prudent in the mortgage origination and servicing business. All Mortgage Interest Rate adjustments have been made in compliance with applicable state and federal law and xxxxxx the terms of the related Mortgage and Mortgage Note on the related adjustment date. Seller executed and delivered any deliveredany and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the regardingthe Mortgage Interest Rate and any payment adjustments. Any interest required to be paid pursuant to applicable state, ,federal and local law has been properly paid and credited. All escrow deposits and escrow payments, if any, are in the possession thepossession of, or under the control of, Seller and have been collected and handled in full compliance with Applicable Requirements. No escrow deposits or escrow payments or other charges or payments due the Seller have been capitalized under the Mortgage Note.