Servicing Fees and Expenses. Mortgagor acknowledges and agrees that State Farm shall impose certain reasonable administrative processing fees (the “Servicing Fees”) in connection with (a) the extension, renewal, modification, amendment and termination of the Loan Documents; (b) the release or substitution of collateral therefor; (c) the consideration of any consents, waivers and approvals with respect to the Secured Property or Mortgagor; (d) the review of any Lease or proposed Lease or the preparation or review of any tenant estoppel certificate or any subordination, nondisturbance and attornment agreement; or (e) any other services provided by State Farm or any of its agents to or on behalf of Mortgagor in connection with the Secured Property, the Loan Documents or the Indebtedness secured thereby (the occurrence of any of the foregoing shall hereafter be referred to as a “Servicing Action”). Mortgagor hereby acknowledges and agrees to pay, immediately, upon demand, all such Servicing Fees (as the same may be increased or decreased from time to time), and any additional fees of a similar type or nature that may be imposed by State Farm from time to time in connection with a Servicing Action. Mortgagor shall also be responsible for the payment of all fees and expenses of State Farm’s outside counsel in the event that State Farm, in its sole discretion, shall determine that the assistance of an outside attorney is necessary or appropriate to accomplish the Servicing Action.
Servicing Fees and Expenses. Notwithstanding anything to the contrary herein or in the Servicing Agreement, all [Servicing Fees and Servicing Expenses]2 (each as 2 Insert applicable terms from Servicing Agreement. defined in the Servicing Agreement), together with any other unreimbursed fees (including, without limitation, termination fees), costs, advances and expenses otherwise due and payable thereunder to Servicer (to the extent related to the Purchased Loans), shall not be withheld from Income prior to the remittance thereof to the Depository Account. Instead, all such amounts shall be deposited by Servicer as Income directly into the Depository Account. All such amounts which are otherwise due and owing to Servicer under the Servicing Agreement shall be separately and independently paid to Servicer directly by Seller. For the avoidance of doubt, all Servicing Rights belong to Buyer, and no such Servicing Rights are owned by Servicer or Seller in any respect. Buyer, its affiliates, and any director, officer, employee or agent of any of them, together with their successors and assigns, shall be indemnified and held harmless by Servicer against any loss, liability or expense (including reasonable attorneys’ fees of outside counsel) incurred by reason of (i) Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its duties under the Servicing Agreement or this instruction letter, (ii) a breach of Servicer’s representations and warranties as set forth in the Servicing Agreement or (iii) by reason of reckless disregard of Servicer’s obligations or duties under the Servicing Agreement or this instruction letter.
Servicing Fees and Expenses. As compensation in full for Servicer's services, Investor shall pay a Servicing Fee equal to: Task Recurrence Fee Boarding/De-boarding* One Time Electronic $30 Manual (imaged) $50 Manual (paper) $100 ARM/DSI $80 De-boarding $60 ($100 w/out cause) Tax boarding $2 Servicing Monthly Current $19 30/60 $60 90/FC $75 Delinquent MI loans +$3 BK $60 Contested/Litigated/TRO $100 POA/ARM/DSI/HELOC Additional +$15 Tax Services*** $2 plus pass thru costs REO oversight $50 Full REO management One Time 1% gross sales price / $1,000 min Loss Mitigation Each Occurrence Reperformance plan $500 Reperformance plan (6 mos pmts) $1,000 Reinstatement $200 Reinstatement (after 90+) $500 Modification 1% of UPB DIL/CFK 1% of XXX ($0x xxxxx) Short sale 1% of XXX ($0,000 xxxxx) Refinance/ PIF .5% Brokered loan sale 1.5% of sale price Short refinance 1.5% of UPB Charge off recovery / Recovery 40% BK proof of claim $275 BK proof of claim (Ch.13) $375 BK claim and plan review $400 BK motion for relief filing** $550 BK motion for relief filing (Ch 13)** $650 BK transfer of claims $200 Mediations/ Written discovery $200 Mediations/Trials (in person) $400/day + costs Title $75 Title curative $250 NOI $125 FC liquidation $150 FC liquidation (timeline beat) $275 XXX xxxx search $15 Assignments $50 O&E – Date down $25 Lien release $30 FHA/VA/USDA/HHF/MI Guarantee/Funding 1% MI claim $100 MI supplemental claims $90 Pool insurance claim $50 Reporting – Non Standard Set up Hourly $80 Report run Each occurrence $50 Special Services Hourly Clerical $40 Managerial $70 Technical $100 Legal – In house (inc. trial prep, QWR, MI disputes) $160 Special Recurring Outbound mail $2 Returned mail $4 Certified checks $7 Third party audit $500/day Manual invoice pmt $15 Wire $35 Minimum Servicing Fee Monthly $3,000 Price adjustment Annual (on Jan 1) CPI No charge for reasonable data storage, however, Investor will be responsible for payment to a third party contractor for imaging and uploading loan level collateral and servicing documents. Other fees may apply at market rates, including requested travel reimbursement. Fees shall be kept strictly confidential. Fees are guaranteed for 12 months at which time they are subject to revision.
Servicing Fees and Expenses. Notwithstanding anything to the contrary herein or in the Servicing Agreement, other than (i) Servicing Fees (as defined in the Servicing Agreement) relating solely to the Purchased Assets, (ii) investment and interest income in funds (net of any and all losses on the investment of such funds) to the extent payable to Servicer under Section 3.06(a)(v) of the Servicing Agreement, (iii) additional servicing compensation set forth in the Servicing Agreement and (iv) any other amounts payable or reimbursable to the Servicer pursuant to the terms of the Servicing Agreement (all such fees, reimbursements and expenses described in the foregoing clauses (i) through (iv), in each case relating solely to the Purchased Assets (and which are not reimbursed from amounts on deposit in the Escrow Account in accordance with the Servicing Agreement), the “Permitted Retained Amounts”), no other unreimbursed fees (including but not limited to termination fees, which shall be at no cost or expense to Buyer, it being agreed that Seller will pay any and all fees required to terminate the Servicing Agreement and to effectuate the transfer of servicing to the designee of Buyer), costs, expenses, indemnification obligations or advances otherwise due and payable under the Servicing Agreement to Servicer (whether incurred by Seller, their respective Affiliates or otherwise), shall be withheld from Income prior to the remittance thereof to the Waterfall Account. Instead, any such amounts (other than Permitted Retained Amounts or amounts deposited in the Escrow Account as provided in Section 4 above) relating to the Purchased Assets shall be deposited by Servicer as Income directly into the Waterfall Account. All such other amounts which are otherwise due and owing to Servicer under the Servicing Agreement shall be separately and independently paid to Servicer directly by Seller. For the avoidance of doubt, all Servicing Rights belong to Buyer, and no such Servicing Rights are owned by Servicer or Seller in any respect. Buyer, its affiliates, and any director, officer, employee or agent of any of them, together with their successors and assigns, shall be indemnified and held harmless by Servicer against any loss, liability or expense (including reasonable attorneys’ fees of outside counsel) incurred by reason of (i) Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its duties under the Servicing Agreement or this instruction letter, (ii) a breach of S...
Servicing Fees and Expenses
