Servicing Files. The Servicing Files included in the Purchased Assets contain true, correct and complete copies of all documents, instruments and information necessary to service the Serviced Mortgage Loans and Other Serviced Loans serviced by Seller in accordance with the Applicable Requirements in all material respects.
Servicing Files a. Each Servicing File maintained by the Servicer for each Mortgage Loan shall be clearly identified and marked to reflect Angel Oak’s or related Investor’s ownership of the related Mortgage Loan, shall be kept by Servicer as bailee for the sole benefit of Angel Oak and the related Investor, in conformance with applicable Requirements and Accepted Servicing Practices, and shall contain copies of the following items, to the extent received by the Servicer upon the Servicer’s request from Angel Oak or its agent:
(i) the Mortgage Note bearing all intervening endorsements, endorsed “Pay to the order of [insert related Investor], without recourse”; or in blank and signed in the name of the previous endorsee by an authorized officer;
(ii) the Mortgage, with evidence of recording thereon;
(iii) all assumption, modification, consolidation or extension agreements, with evidence of recording thereof;
(iv) evidence (which may be a certificate of insurance) of all insurance required by such Mortgage;
(v) the Title Insurance Policy;
(vi) all intervening Assignments of Mortgage with evidence of recording thereof; and
(vii) any other material documents.
b. Notwithstanding any provision herein to the contrary, blanket insurance policies may be kept by the Servicer in a separate blanket file and need not be included in each Servicing File.
c. Each Servicing File shall also contain the following documents or photocopies thereof, to the extent received by the Servicer in connection with the Servicer’s duties under this Agreement:
(i) the Appraisal Report made at the time the Mortgage Loan was originated;
(ii) the settlement statement for the purchase and financing or refinancing of the Mortgaged Property under the Mortgage Note and Mortgage;
(iii) the originals of any tax service contract;
(iv) documentation relating to modifications to the original Mortgage Loan documents;
(v) documentation relating to any releases of any collateral supporting the Mortgage Loan;
(vi) collection letters or form notices sent to the Mortgagor, but only if the Servicer does not maintain collection files;
(vii) foreclosure correspondence and legal notifications, if applicable;
(viii) water and irrigation company stock certificates, if applicable;
(ix) the loan application, any credit reports, verification of employment, verification of any deposit, and tax returns;
(x) the originals of all RESPA and Truth in Lending Act disclosure statements executed by the Mortgagor; and
(xi) all other document...
Servicing Files. Seller shall deliver to GMACM a servicing file for each loan in the Manual Transfer. Files will contain, but not be limited to, the documents identified below (as applicable) which are critical for boarding the loans to GMACM’s system: Legal Description (Exhibit A) / Tax Contract (copy) Homeowner authorization if NY or NJ Copy of Note with all riders Interest Only Addendum Buydown agreement/rider Copy of recorded Mortgage/Deed of Trust with riders (if recorded copy is not available; provide copy of unrecorded document) Funding Letter/First Payment Letter RESPA/Escrow Account Disclosure HUD-1 Settlement Statement – final Loan Application Form 1003 (initial and final signed application) Appraisal/PSAR (with all attachments) Certificate of Flood Zone Rating Evidence of Insurance Applicable Mortgage Insurance: PMI commitment, FHA MIC, VA LGC PMI Disclosure statement Tax Certification System master file record Payment history from origination to current year-to-date
Servicing Files. To the extent that Purchaser or its successors or any subservicer, as applicable, is unable, despite its or its successor servicer’s best efforts, to service a Mortgage Loans in accordance with Applicable Requirements because the related Servicing File does not contain the documents or information required to be maintained by the Seller under Applicable Requirement and are necessary to service the applicable Mortgage Loan in compliance with Applicable Requirements, Seller shall reimburse the Purchaser for any reasonable out-of-pocket expenses incurred by Purchaser in curing such deficiency and indemnify Purchaser for any Losses that it incurs due to the inability to service in accordance with Applicable Requirements; provided that the Purchaser shall have (and shall have caused its successors and any subservicer to) used best efforts to obtain reimbursement from the applicable Investor for any such unreimbursed expenses or Losses prior to making a claim hereunder.
Servicing Files. See Shipping instructions & Preparing Materials for Shipment form from Archive Systems and file Archiving Sheet
Servicing Files. Each Servicing File delivered to the Servicer shall be held in trust by the Servicer for the benefit of the applicable Owner; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the applicable Owner or its designee. The Servicer’s possession of any portion of the mortgage loan documents shall be at the will of the applicable Owner for the sole purpose of facilitating servicing of the related Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the applicable Owner and the ownership of all records and documents with respect to the related Loan prepared by or which come into the possession of the Servicer shall immediately vest in the applicable Owner and shall be retained and maintained, in trust, by the Servicer at the will of the applicable Owner in such custodial capacity only. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with the written instructions of the applicable Owner.
Servicing Files. Following the Sale Date, the Interim Servicer shall service the Loans pursuant to the terms of a reconstitution agreement entered into pursuant to Section 2.6 of this Agreement.
Servicing Files. (a) The Purchaser, as beneficial owner of the Receivables, revocably appoints the Servicer, and the Servicer accepts such appointment, to act as the agent of the Purchaser and as custodian of the Servicing File with respect to each Receivable. Such retention and possession by the Servicer is in a custodial capacity only. With the prior written consent of the Administrative Agent, the Servicer may retain any third-party service provider to perform Servicer’s duties as custodian hereunder, provided that Servicer shall remain fully liable with respect to such duties notwithstanding Administrative Agent’s consent to the retention of any such third-party custodian. The Servicer shall be solely responsible for the payment of any and all fees, costs and other expenses of such third-party service provider. The Servicer shall be deemed to have received proper instructions from the Purchaser with respect to the Servicing Files upon its receipt of written instructions signed by a responsible officer of the Administrative Agent.
(b) The Servicer’s appointment as custodian of the Servicing Files with respect to the Receivables hereunder shall become effective on the Closing Date, and shall continue in full force and effect until the termination of this Agreement. The Administrative Agent may terminate the Servicer’s appointment as custodian of the Servicing Files at any time at the Administrative Agent’s sole and absolute discretion upon written notification to the Servicer, and such termination shall be binding on the Purchaser. Any termination of the Servicer as servicer of the Receivables shall also constitute a termination of the Servicer as custodian of the Servicing Files of the Receivables. As soon as practicable after any termination of such appointment (but in no event more than five (5) Business Days after any such termination of appointment), the Servicer shall deliver the Servicing Files to the Purchaser or the Purchaser’s agent (including, without limitation, any Successor Servicer) at such place or places as the Administrative Agent (or any Successor Servicer on its behalf) may reasonably designate. The Servicer shall cooperate with the Purchaser, the Administrative Agent and any Successor Servicer in making the transfer and shall bear all of the Servicer’s costs and expenses with respect to such transfer. Notwithstanding the termination of the Servicer as custodian of the Servicing Files, the Purchaser agrees that upon any such termination, the Purchaser...
Servicing Files. Xxxxxxxx agrees to furnish to Xxxxxx from time to time, promptly upon written request of Xxxxxx, any information related to the Receivables (including the Account Debtors) contained in the servicing files and any other documents in Borrower’s possession or control.
Servicing Files. Pursuant to the provision in the Servicing Agreement, Owner acknowledges that the files held by HOME SERVICING, LLC with respect to the Loans and Properties (the "Servicing Files") shall be transferred to SNSC under the term of the Servicing Agreement. SNSC further acknowledges that upon receipt of any original Servicing Files, it shall act as bailee on behalf of the Owner of such files.
