Recourse Servicing. The Borrower will not at any time be a party to any Servicing Agreements constituting Recourse Servicing other than Approved Recourse Servicing.
Recourse Servicing. The Borrower does not have any Recourse Servicing.
Recourse Servicing. The Borrower will not at any time acquire or create any Recourse Servicing beyond the Recourse Servicing held by the Company on the Effective Date.
Recourse Servicing. Permit the aggregate principal balance of Mortgage Loans covered by Recourse Servicing at any time after the date hereof to exceed (i) $2,350,000,000 less (ii) all reductions in the aggregate principal balance of such Mortgage Loans covered by Recourse Servicing as of March 31, 1998, whether by reason of prepayment or amortization from and after April 1, 1998.
Recourse Servicing. 55 6.20 Federal Agency Approvals............................................................................ 55 6.21 Approved Investor Commitments....................................................................... 55 6.22 Negative Pledges.................................................................................... 55 6.23 Keeping of Records and Books of Account............................................................. 55 6.24 Hedging Program..................................................................................... 55 6.25
Recourse Servicing. 82 8.11 Liens......................................................... 82 8.12
Recourse Servicing. 85 8.11 Liens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 8.12
Recourse Servicing. Permit the principal balance of Mortgage Loans covered by Recourse Servicing to exceed the lesser of:
Recourse Servicing. Permit the principal balance of Mortgage Loans covered by Recourse Servicing to exceed the sum of (A) the aggregate principal balance of all Mortgage Loans covered by Recourse Servicing owned by the Company as of March 31, 1997 plus (B) the aggregate principal balance of all Mortgage Loans covered by Recourse Servicing acquired by the Company from and after April 1, 1997 as a part of one or more larger acquisitions of Servicing Agreements, provided that the aggregate principal balance of Mortgage Loans covered by Recourse Servicing acquired in all acquisitions after April 1, 1997 shall not exceed the lesser of (i) $100,000,000 or (ii) 10% of the principal balance of all Mortgage Loans covered by the Servicing Agreements acquired in all such acquisitions less (C) all reductions in such aggregate principal balances, whether by reason of prepayment or amortization from and after April 1, 1997 (or the date of later acquisition, as the case may be) and less (D) the aggregate principal balance of any Mortgage Loans covered by any such Recourse Servicing sold by the Company after March 31, 1997.
Recourse Servicing. Mortgage Servicing Rights with respect to which the servicer, pursuant to the applicable Guide or a Servicing Agreement or any other Applicable Requirements, has an obligation or liability with respect to any Mortgage Loan (A) for Losses incurred in connection with the foreclosure or other disposition of, or other realization or attempt to realize upon the collateral securing, such Mortgage Loan (including Losses relating to loss mitigation or obtaining deeds in lieu of foreclosure); (B) to repurchase such Mortgage Loan in the event that the Mortgagor of such Mortgage Loan is in bankruptcy, or the Mortgage Loan is in foreclosure or in litigation; or (C) to repurchase such Mortgage Loan in the event of a delinquency or other payment default thereunder by the Mortgagor except, in each case, for any such obligation or liability arising from a failure by a servicer or any predecessor servicer to service and administer a Mortgage Loan in accordance with Applicable Requirements. For the avoidance of doubt, any ordinary Servicing obligations under the GNMA Mortgage Backed Securities Guides shall not be deemed to constitute “Recourse Servicing.” Regulator: The Office of the Comptroller of the Currency or any successor thereto or other Governmental Entity having jurisdiction over Seller or Purchaser.
