Possession of Mortgage Files by Servicer. From time to time in connection ---------------------------------------- with the servicing of the Mortgage Loans hereunder, the Servicer may take possession of all or a portion of the documents relating to the Mortgage Loans as may be held by the Owner or the Custodian. Such documents shall be held in trust by the Servicer for the benefit of the Owner as the owner thereof and the Servicer's possession of such document or documents is at the will of the Owner for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Servicer is in a custodial capacity only.
Appears in 2 contracts
Samples: Loan Servicing Agreement (Preferred Credit Corp), Loan Servicing Agreement (New Century Financial Corp)
Possession of Mortgage Files by Servicer. From time to time in connection ---------------------------------------- with the servicing of the Mortgage Loans hereunder, the Servicer may take possession of all or a portion of the documents relating to the Mortgage Loans as may be held by the Owner or the Custodian. Such documents shall be held in trust by the Servicer for the benefit of the Owner as the owner thereof and the Servicer's possession of such document or documents is at the will of the Owner for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Servicer is in a custodial capacity only.
Appears in 2 contracts
Samples: Custodial Agreement (Realtrust Asset Corp), Loan Servicing Agreement (Preferred Credit Corp)
