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. 2. 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. See Shipping instructions & Preparing Materials for Shipment form from Archive Systems and file Archiving Sheet
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. (a) Without limiting any other provision of this Agreement, in each case at Sellers’ sole cost and expense, Sellers shall:
Servicing Files. A) Servicing files shall contain the documents as defined in Section I B.
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:
Servicing Files. The Seller shall forward to the Purchaser or its designee all documents and records relating to the Mortgage Loans constituting the servicing files no later than three (3) business days prior to the Servicing Transfer Date.
Servicing Files. The Servicing Files contain true, correct and complete copies of all documents, instruments and information necessary to service the Serviced Loans in accordance with the Applicable Requirements in all material respects.
Servicing Files. With respect to each Mortgage Loan, the Mortgage File may include each of the following items to the extent in the possession or the possession of Seller or Seller’s Servicer; however Seller makes no representation or warranty as to the content of the Servicing File: Tax receipts, insurance premium receipts, ledger sheets, payment history from date of origination, insurance claim files including correspondence with respect thereto, correspondence, current and historical computerized data files, and all other processing, underwriting and closing papers and records which are customarily contained in a mortgage loan file and which are required to document the Mortgage Loan or to service the Mortgage Loan; and the original or copy of hazard insurance policy and, if required by law, flood insurance policy, with extended coverage of the hazard insurance policy. EXHIBIT B TO MORTGAGE LOAN PURCHASE AND SALE AGREEMENT XXXX OF SALE AND ASSIGNMENT OF MORTGAGE LOAN DOCUMENTS THIS XXXX OF SALE AND ASSIGNMENT OF MORTGAGE LOAN DOCUMENTS, dated , from [SELLER] a [ Corporation], having an address at (the “Seller”) to , a [ ] Company, having an address at (the “Buyer”). All terms used herein which are not defined herein shall have the meanings given to them in the Mortgage Loan Purchase and Sale Agreement dated as of even date herewith by and between Buyer and Seller (the “Purchase Agreement”).
