Participating Lending Institution as Servicer. In the event that the Participating Lending Institution is also the applicable Servicer under any Program, the requirements of the Program Agreement with respect to sale and transfer of Mortgage Loans by the Participating Lending Institution to the Servicer or the assignment of servicing of Mortgage Loans by the Participating Lending Institution to the Servicer shall be deemed to be satisfied without further formality if no such sale, transfer or assignment, or no actual transfer of funds or instruments, is necessary to vest in the Participating Lending Institution, as Participating Lending Institution or Servicer, the rights required to be transferred or vested hereunder. Nothing in this Section, however, shall relieve the Participating Lending Institution, in its capacity as Participating Lending Institution or Servicer under the applicable Program Agreement, from any duty to maintain records or files, submit reports, obtain or document required approvals or provide information or documentation as required thereunder to the Division, the Trustee or the applicable Compliance Agent.
