Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 90 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2005-Ar17), Pooling and Servicing Agreement (IndyMac MBS, Inc. Residential Asset Securitization Trust 2004-A7)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 17 contracts
Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2006-Ar19), Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2006-Ar9), Pooling and Servicing Agreement (IndyMac INDA Mortgage Loan Trust 2006-Ar1)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A14cb), Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A7cb), Pooling and Servicing Agreement (Residential Asset Securitization Trust 2006-A4ip)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Collection Account, or Trust Fund an amount equal to interest at the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, late payment fees, assumption fees (i.e. fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan)), modification fees, customary real estate referral fees, extension fees and similar fees payable by the Mortgagor, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments in the Collection Account shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Collection Account pursuant to Sections 3.05 or 3.12(a) hereof. In addition, the Servicer shall be entitled to income and gain from amounts on deposit in the Certificate Account during the period from the Servicer Remittance date to but not including the Business Day immediately preceding the related Distribution Date as described in Section 3.063.05(g). The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy as required by Section 3.10 hereof and maintenance of the other forms of insurance coverage required by this AgreementSection 3.10 hereof) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee or the Securities Administrator be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates, Series 2005-3), Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2005-4), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A14j), Pooling and Servicing Agreement (Indymac MBS Inc Res Asset Sec Trust 2002-A15), Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A10)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled out of each payment of interest on a Mortgage Loan (or portion thereof) included in the Trust Fund to retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related such Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.063.08. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. As compensation for its activities under its Servicing Agreement, each Servicer shall be entitled to retain out of each payment of interest on a Mortgage Loan (or portion thereof) included in the Trust Fund an amount equal to interest at the applicable Servicing Fee Rate on the Stated Principal Balance of the related Mortgage Loan for the period covered by such interest payment. Additional servicing compensation in the form of prepayment penalties, assumption fees and late payment charges shall be retained by the Servicers to the extent not required to be deposited in the Servicing Accounts pursuant to the related Servicing Agreement. Each Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities under its Servicing Agreement (including payment of any premium for hazard insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement and its Servicing Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in its Servicing Agreement and not inconsistent with this Agreement. In the event of any Prepayment Interest Shortfall, the aggregate Master Servicing Fee for such Distribution Date shall be reduced (but not below zero) by an amount equal to such Prepayment Interest Shortfall.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges (not including Prepayment Charges) and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Securitization Tr 2002-A4), Pooling and Servicing Agreement (Indymac MBS Residential Asset Securitization Trust 2002 A5), Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Securitizations Tr 2002-A1)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Indymac Abs Inc Hm Eq Mort Ln Asset Back Tr Ser SPMD 2001-B), Pooling and Servicing Agreement (Indymac Abs Inc Home Eq Mort Loan as Back Tr Ser SPMD 2002 B), Pooling and Servicing Agreement (Indymac Inc Home Eq Mort Loan as-BCK Tr Ser SPMD 2001-A)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled out of each payment of interest on a Mortgage Loan (or portion thereof) included in the Trust Fund to retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related such Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.063.08. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. As compensation for is activities under its Servicing Agreement, each Servicer shall be entitled to retain out of each payment of interest on a Mortgage Loan (or portion thereof) included in the Trust Fund an amount equal to interest at the applicable Servicing Fee Rate on the Stated Principal Balance of the related Mortgage Loan for the period covered by such interest payment. Additional servicing compensation in the form of prepayment penalties, assumption fees and late payment charges shall be retained by the Servicers to the extent not required to be deposited in the Servicing Accounts pursuant to the related Servicing Agreement. Each Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities under its Servicing Agreement (including payment of any premium for hazard insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement and its Servicing Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in its Servicing Agreement and not inconsistent with this Agreement. In the event of any Prepayment Interest Shortfall, the aggregate Master Servicing Fee for such Distribution Date shall be reduced (but not below zero) by an amount equal to such Prepayment Interest Shortfall.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Collection Account, or Trust Fund an amount equal to interest at the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, late payment fees, assumption fees (i.e. fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan)), modification fees, customary real estate referral fees, extension fees and similar fees payable by the Mortgagor, any Prepayment Interest Excess, assumption fees, late payment charges Excess and all income and gain net of any losses realized from Permitted Investments in the Collection Account shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Collection Account pursuant to Sections 3.05 or 3.12(a) hereof. In addition, the Servicer shall be entitled to income and gain from amounts on deposit in the Certificate Account during the period from the Servicer Remittance date to but not including the Business Day immediately preceding the related Distribution Date as described in Section 3.063.05(g). The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy as required by Section 3.10 hereof and maintenance of the other forms of insurance coverage required by this AgreementSection 3.10 hereof) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (OwnIt Mortgage Loan Trust Series 2006-4), Pooling and Servicing Agreement (OwnIt Mortgage Loan Trust Series 2006-6), Pooling and Servicing Agreement (Mortgage Loan Asset-Backed Certificates Series 2006-5)
Servicing Compensation. As compensation for its activities services hereunder, the Master Servicer may shall be entitled to retain or withdraw from interest payments on the Mortgage Loans the amounts provided for as the Servicing Account, the Collection Account, or the Certificate Account the Fee. The Servicing Fee for each in respect of a Mortgage Loan for a particular month shall become payable only upon the related Distribution Date. Notwithstanding receipt by the Servicer from the Mortgagor of the full Monthly Payment in respect of such Mortgage Loan; provided, however, that, notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls entitled to retain from recoveries with respect to the Distribution Date interest from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and the aggregate Compensating Interest for the Distribution DateREO Disposition Proceeds any accrued but unpaid Servicing Fees. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master Any additional servicing compensation expressly provided for in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments this Agreement shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant Collection Account. In the event that Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and REO Disposition Proceeds exceed the Unpaid Principal Balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to Section 3.06the related Remittance Rate, the Servicer shall be entitled to retain therefrom and pay to itself any Foreclosure Profits and any accrued but unpaid Servicing Fees. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreementfor herein.
Appears in 5 contracts
Samples: Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2013-1), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2012-3), Mortgage Loan Flow Purchase, Sale & Servicing Agreement (Sequoia Mortgage Trust 2012-2)
Servicing Compensation. As compensation consideration for its activities hereunderservicing the Mortgage Loans subject to this Agreement, the Master Servicer may retain or withdraw from and the Subservicer shall be paid in the aggregate the relevant Servicing Account, the Collection Account, or the Certificate Account the Servicing Administration Fee for each Mortgage Loan for the related Distribution Dateremaining subject to this Agreement during any month or part thereof. Notwithstanding the foregoing, the Such Servicing Administration Fee payable to the Master Servicer shall be reduced payable monthly and retained by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage LoanSubservicer, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing servicesapplicable. Additional master servicing compensation in the form of Excess Proceeds, Ancillary Income (except for Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments Premiums which shall be retained by the Master Servicer (notwithstanding any provision of Section 4.02(a) to the extent contrary)) shall be retained by the Subservicer only and is not required to be deposited in the Certificate Account pursuant to Section 3.06Custodial Account. The Master obligation of the Issuer to pay the Servicing Administration Fee is limited to, and the Servicing Administration Fee is payable from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds) of such Scheduled Payment collected by the Servicer, or as otherwise provided in Section 4.02(e)(2). Each of the Servicer and the Subservicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor thereof except as specifically provided for herein. The Servicing Administration Fee payable to or retained by the Servicer or the Subservicer, as applicable, with respect to any Due Period shall be reduced by the Prepayment Interest Shortfall Amount for the related Prepayment Period required to be deposited in this Agreementthe Custodial Account and remitted to the Master Servicer on the related Servicer Remittance Date. The Servicer and the Subservicer shall be obligated to remit to the Master Servicer on each Servicer Remittance Date the Prepayment Interest Shortfall Amount, only up to an amount equal to in the aggregate the Servicing Administration Fee the Servicer and the Subservicer are entitled to receive for such Due Period.
Appears in 3 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of an amount equal to the aggregate of the Prepayment Interest Shortfalls Shortfalls, if any, with respect to such Distribution Date; provided, however, that the reduction for any Distribution Date and shall not exceed the aggregate Compensating Interest for the such Distribution Date. The Master Servicer may shall also be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Servicing Fee for each Mortgage Loan for the related Distribution Date. If In cases where a Mortgage Loan is being directly serviced by the Master Servicer directly services a Mortgage LoanServicer, the Master Servicer may shall be entitled to retain the Servicing Fee such amount for its own account as compensation for performing such services. If a Subservicer directly services In cases where a Mortgage Loan, unless the Subservicer retains the Servicing FeeLoan is being directly serviced by a Subservicer, the Master Servicer shall remit (unless the Servicing Fee has been retained by the Subservicer) remit such amount to the related Subservicer as compensation for performing such services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Indymac Abs Inc), Pooling and Servicing Agreement (Indymac Abs Inc)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Collection Account, or Trust Fund an amount equal to interest at the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, late payment fees, assumption fees (i.e. fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan)), modification fees, customary real estate referral fees, extension fees and similar fees payable by the Mortgagor, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments in the Collection Account shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate -80- Collection Account pursuant to Section 3.06Sections 3.05 or 3.12(a) hereof. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy as required by Section 3.10 hereof and maintenance of the other forms of insurance coverage required by this AgreementSection 3.10 hereof) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee, the Master Servicer or the Securities Administrator be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust Series 2005-Ff12), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust Series 2005-Ff12)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, Excess Proceeds, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Loan Asset-Backed Trust, Series SPMD 2004-A), Pooling and Servicing Agreement (IndyMac ABS Inc. Home Equity Mortgage Loan Asset-Backed Trust, Series SPMD 2004-A)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Collection Account, or Trust Fund an amount equal to interest at the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, late payment fees, assumption fees (i.e. fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property), bad check charges, modification fees and similar fees and charges payable by the Mortgagor, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments in the Collection Account, and any other benefits arising from the Collection Account and the Escrow Account shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Collection Account and the Escrow Account pursuant to Sections 3.05, 3.06 or 3.12(a) hereof. Additionally, the Servicer will be entitled to receive a fee from amounts on deposit in the Collection Account for the costs associated with certain forbearances with respect to Mortgage Loans in amounts as specified in Section 3.063.05(a) herein. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-5), Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of an amount equal to the aggregate of the Prepayment Interest Shortfalls Shortfalls, if any, with respect to such Distribution Date; provided, however, that the reduction for any Distribution Date and shall not exceed the aggregate Compensating Interest for the such Distribution Date. The Master Servicer may shall also be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Servicing Fee for each Mortgage Loan for the related Distribution Date. If In cases where a Mortgage Loan is being directly serviced by the Master Servicer directly services a Mortgage LoanServicer, the Master Servicer may shall be entitled to retain the Servicing Fee such amount for its own account as compensation for performing such services. If a Subservicer directly services In cases where a Mortgage Loan, unless the Subservicer retains the Servicing FeeLoan is being directly serviced by a Subservicer, the Master Servicer shall remit (unless the Servicing Fee has been retained by the Subservicer) remit such amount to the related Subservicer as compensation for performing such services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.063.08. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)
Servicing Compensation. As compensation consideration for its activities hereunderservicing the Mortgage Loans subject to this Agreement, the Master Servicer may retain or withdraw from and the Servicing Account, Subservicer shall be paid in the Collection Account, or aggregate the Certificate Account the relevant Servicing Fee for each Mortgage Loan for the related Distribution Dateremaining subject to this Agreement during any month or part thereof. Notwithstanding the foregoing, the Such Servicing Fee payable to the Master Servicer shall be reduced payable monthly and retained by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage LoanSubservicer, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing servicesapplicable. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments Ancillary Income shall be retained by the Master Servicer to the extent Subservicer only and is not required to be deposited in the Certificate Account pursuant to Section 3.06Custodial Account. The Master obligation of the Seller to pay the Servicing Fee is limited to, and the Servicing Fee is payable from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds) of such Monthly Payment collected by the Servicer, or as otherwise provided in Section 3.04. Each of the Servicer and the Subservicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor thereof except as specifically provided for herein. The Servicing Fee payable to or retained by the Servicer or the Subservicer, as applicable, with respect to any Collection Period shall be reduced by the Prepayment Interest Shortfall Amount required to be deposited in this Agreementthe Custodial Account and remitted to the Master Servicer on the related Remittance Date. The Servicer and the Subservicer shall be obligated to remit to the Master Servicer on each Remittance Date the Prepayment Interest Shortfall Amount, if any, only up to an amount equal to in the aggregate the Servicing Fee the Servicer and the Subservicer are entitled to receive for such Distribution Date.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Fieldstone Mortgage Investment CORP), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-1)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Indy Mac Abs Inc Home Equity Mor Ln as Bk Tr Ser SPMD 2002-A), Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002 A2j)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain shall be entitled to withhold and retain, from deposits to the Custodial Account of amounts representing payments or withdraw from the Servicing Accountrecoveries of interest, the Collection Account, or the Certificate Account the Master Servicing Fee for Fees with respect to each Mortgage Loan for the related Distribution Date(less any portion of such amounts retained by any Sub-Servicer). Notwithstanding the foregoingIn addition, the Servicing Fee payable to the Master Servicer shall be reduced entitled to recover unpaid Master Servicing Fees out of related Late Collections to the extent permitted in Section 3.11. Each Sub-Servicing Agreement shall permit the related Sub-Servicer to retain the Sub-Servicing Fees from collections on the related Mortgage Loans, or shall provide that the Sub- Servicer be paid directly by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for collections on the related Distribution DateMortgage Loans. If To the extent the Master Servicer directly services a Mortgage Loan, the Master Servicer may shall be entitled to retain the Sub-Servicing Fee Fees for its own account as compensation for performing services. If a Subservicer directly services a that Mortgage Loan, unless the Subservicer retains the Servicing Fee, the . The Master Servicer also shall remit be entitled pursuant to Section 3.11 to receive from the Servicing Fee to the related Subservicer Custodial Account as compensation for performing services. Additional master additional servicing compensation in the form of Excess Proceedsinterest or other income earned on deposits therein, Prepayment Interest Excesssubject to Section 3.23, as well as any assumption fees, late payment charges and all income net of reconveyance fees. The Master Servicer or any losses realized from Permitted Investments Sub-Servicer, pursuant to a Subservicing Agreement, shall be retained by the Master Servicer entitled to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06retain any prepayment charges. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any the premiums for any blanket policy insuring against hazard insurance, losses pursuant to Section 3.13 and any Primary Insurance Policy and maintenance servicing compensation of the other forms of insurance coverage required Sub-Servicer to the extent not retained by this Agreement) it), and shall not be entitled to reimbursement therefor except as specifically provided in Section 3.11. The Master Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Master Servicer's responsibilities and obligations under this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp)
Servicing Compensation. As compensation for its activities services hereunder, the Master Servicer may retain or withdraw shall be entitled to pay itself the Servicer's Servicing Fee from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for gross amount of interest payments on each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced which are actually received by the lesser of the aggregate of the Prepayment Interest Shortfalls Servicer with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing servicesthereto. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessnon-sufficient funds check fees, assumption fees, other related administrative fees, late payment charges, prepayment charges and all income net other similar types of any losses realized from Permitted Investments shall ancillary fees and charges which are actually received by the Servicer may be retained by the Master Servicer to the extent not required to be deposited in into the Certificate Custodial Account pursuant to Section 3.06the terms of this Agreement. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided for in this Agreement. The Servicing Fee for each period ending on each Distribution Date shall be reduced by an amount equal to the Compensating Interest Payment for the Distribution Date. The Servicer shall, on the third Business Day immediately preceding the related Distribution Date, deposit the related Compensating Interest Payment to the Custodial Account. In addition, the Servicer shall be entitled to reimbursement for Monthly Advances, Servicing Advances and Nonrecoverable Advances, all as specified by Section 3.07. The amount of compensation or reimbursement provided for shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. The Servicing Fee with respect to any Mortgage Loan will accrue on the same basis as interest accrues on the Mortgage Loan.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Corp M B P T C Se 00 Wm2)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Collection Account, or Trust Fund an amount equal to interest at the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, Prepayment Interest Excesslate payment fees, assumption fees (i.e. fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan)), modification fees, late payment charges customary real estate referral fees, extension fees and similar fees payable by the Mortgagor, and all income and gain net of any losses realized from Permitted Investments in the Collection Account shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Collection Account pursuant to Sections 3.05 or 3.12(a) hereof. In addition, the Servicer shall be entitled to income and gain from amounts on deposit in the Certificate Account during the period from the Servicer Remittance date to but not including the Business Day immediately preceding the related Distribution Date as described in Section 3.063.05(g). The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy as required by Section 3.10 hereof and maintenance of the other forms of insurance coverage required by this AgreementSection 3.10 hereof) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2006-2)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee, Servicing Fee and any Additional Servicing Compensation payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee and any Additional Servicing Compensation for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee and any Additional Servicing Compensation for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac Abs Inc Home Eq Mort Ln Asst Back Tr Ser SPMD 2003-A)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of an amount equal to the aggregate of the Prepayment Interest Shortfalls Shortfalls, if any, with respect to such Distribution Date, but not below an amount equal to one-half of the aggregate Master Servicing Fee for such Distribution Date; provided, however, that the reduction for any Distribution Date and shall not exceed the aggregate Compensating Interest for the such Distribution Date. The Master Servicer may shall also be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Servicing Fee for each Mortgage Loan for the related Distribution Date. If In cases where a Mortgage Loan is being directly serviced by the Master Servicer directly services a Mortgage LoanServicer, the Master Servicer may shall be entitled to retain the Servicing Fee such amount for its own account as compensation for performing such services. If a Subservicer directly services In cases where a Mortgage Loan, unless the Subservicer retains the Servicing FeeLoan is being directly serviced by a Subservicer, the Master Servicer shall remit (unless the Servicing Fee has been retained by the Subservicer) remit such amount to the related Subservicer as compensation for performing such services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.063.08. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.this
Appears in 1 contract
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of an amount equal to the aggregate of the Prepayment Interest Shortfalls Shortfalls, if any, with respect to such Distribution Date; provided, however, that the reduction for any Distribution Date and shall not exceed the aggregate Compensating Interest for the such Distribution Date. The Master Servicer may shall also be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Servicing Fee for each Mortgage Loan for the related Distribution Date. If In cases where a Mortgage Loan is being directly serviced by the Master Servicer directly services a Mortgage LoanServicer, the Master Servicer may shall be entitled to retain the Servicing Fee such amount for its own account as compensation for performing such services. If a Subservicer directly services In cases where a Mortgage Loan, unless the Subservicer retains the Servicing FeeLoan is being directly serviced by a Subservicer, the Master Servicer shall remit (unless the Servicing Fee has been retained by the Subservicer) remit such amount to the related Subservicer as compensation for performing such services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (IndyMac INDB Mortgage Loan Trust 2005-1)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may shall be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Master Servicing Fee and Servicing Fee payable to the Master Servicer shall be reduced by the lesser of an amount equal to the aggregate of the Prepayment Interest Shortfalls Shortfalls, if any, with respect to such Distribution Date; provided, however, that the reduction for any Distribution Date and shall not exceed the aggregate Compensating Interest for the both Loan Groups for such Distribution Date. The Master Servicer may shall also be entitled to retain or withdraw from the Servicing Account, the Collection Account, Account or the Certificate Account an amount equal to the Servicing Fee for each Mortgage Loan for the related Distribution Date. If In cases where a Mortgage Loan is being directly serviced by the Master Servicer directly services a Mortgage LoanServicer, the Master Servicer may shall be entitled to retain the Servicing Fee such amount for its own account as compensation for performing such services. If a Subservicer directly services In cases where a Mortgage Loan, unless the Subservicer retains the Servicing FeeLoan is being directly serviced by a Subservicer, the Master Servicer shall remit (unless the Servicing Fee has been retained by the Subservicer) remit such amount to the related Subservicer as compensation for performing such services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excessprepayment penalties, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.063.08. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Master Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac MBS Inc Res as Sec Tr 2002-A3 Mo Pa Th Ce Se 2002-C)
Servicing Compensation. As compensation for its activities hereunder, the Master each Servicer may shall be entitled to retain or withdraw from its Servicer Collection Account out of each payment or recovery of interest on a Mortgage Loan included in the Servicing Account, Trust Fund an amount equal to interest at the Collection Account, or the Certificate Account the applicable Servicing Fee for each Rate on the Stated Principal Balance of the related Mortgage Loan for as of the related immediately preceding Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of any Excess Proceeds, late payment fees, assumption fees (i.e., fees related to the assumption of a Mortgage Loan upon the purchase of the related Mortgaged Property (or stock allocated to a dwelling unit, in the case of Co-op Loan)), modification fees, customary real estate referral fees, extension fees and similar fees payable by the Mortgagor, Prepayment Interest Excess, assumption fees, late payment charges and all income and gain net of any losses realized from Permitted Investments in the related Servicer Collection Account shall be retained by the Master applicable Servicer to the extent not required to be deposited in the Certificate Servicer Collection Account pursuant to Section 3.06Sections 3.05 or 3.12(a) hereof. The Master Each Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy as required by Section 3.10 hereof and maintenance of the other forms of insurance coverage required by this AgreementSection 3.10 hereof) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement. In no event shall the Trustee be liable for any Servicing Fee or for any differential between the Servicing Fee and the amount necessary to induce a successor servicer to act as successor servicer under this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2006-Alt1)
Servicing Compensation. As compensation for its activities hereunderunder this Agreement, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder under this Agreement (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac Indx Mortgage Loan Trust 2004-Ar11)
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. Notwithstanding the foregoing, the aggregate Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Servicing Compensation. As compensation for its activities hereunder, the Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date, but only from amounts available therefor with respect to the related Loan Group. Notwithstanding the foregoing, the Servicing Fee payable to the Master Servicer shall be reduced by the lesser of the aggregate of the Prepayment Interest Shortfalls with respect to the Distribution Date and the aggregate Compensating Interest for the Distribution Date. The Master Servicer may retain or withdraw from the Servicing Account, the Collection Account, or the Certificate Account the Servicing Fee for each Mortgage Loan for the related Distribution Date. If the Master Servicer directly services a Mortgage Loan, the Master Servicer may retain the Servicing Fee for its own account as compensation for performing services. If a Subservicer directly services a Mortgage Loan, unless the Subservicer retains the Servicing Fee, the Master Servicer shall remit the Servicing Fee to the related Subservicer as compensation for performing services. Additional master servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, assumption fees, late payment charges and all income net of any losses realized from Permitted Investments shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.06. The Master Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees of any Subservicer, payment of any premiums for hazard insurance, and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2004 A2)