Common use of Servicing Standards Clause in Contracts

Servicing Standards. At all times, the Seller, as Servicer shall, unless otherwise consented to by the Agent: (i) continue to make Delinquency Advances and Servicing Advances and seek reimbursement, including reimbursement of Delinquency Advances and Servicing Advances deemed Nonrecoverable Advances by the Servicer, in accordance with the related Servicing Contract; (ii) apply the Advance Reimbursement Amount on a First In First Out (“FIFO”) basis; (iii) identify on its systems the Issuer as the owner of each Delinquency Advance and Servicing Advance and that such Delinquency Advance or Servicing Advance has been pledged to the Indenture Trustee; (iv) maintain systems and operating procedures necessary to comply with all the terms of the Transaction Documents, including but not limited to maintaining records and systems necessary to indicate cumulative recoveries on each category of Delinquency Advance and Servicing Advance; (v) cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vi) cooperate with the Calculation Agent and the Indenture Trustee in their respective duties set forth in the Transaction Documents; (vii) make all Delinquency Advances within the period required under the related Servicing Contract, unless the same is the result of inadvertence and is corrected on or prior to the related Distribution Date for the applicable Securitization Trust; (viii) with respect to all Delinquency Advances, agree to deposit the Advance Reimbursement Amount from the Collection Account of the related Securitization Trust directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipts thereof and not deposit any Advance Reimbursement Amount at any time in the Servicer’s own accounts; (ix) with respect to all Servicing Advances, agree to deposit the Advance Reimbursement Amount from the Payment Clearing Account directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipt thereof and not deposit any Advance Reimbursement Amount at any time in the Servicer’s own accounts; (x) as it relates to Delinquency Advances on Mortgage Loans with Forbearance Agreements, continue the practice of reimbursing the oldest Delinquency Advance with any current payment received; (xi) maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Securitization Trust reflecting the status of all Pool-Level Delinquency Advances, Loan Level Delinquency Advances (Non-Judicial States), Loan-Level Delinquency Advances (Judicial States), Corporate Advances (Non-Judicial States), Corporate Advances (Judicial States), Escrow Advances (Non-Judicial States) and Escrow Advances (Judicial States) for such Securitization Trust, including the cumulative recoveries related to such Delinquency Advances and Servicing Advances; (xii) service all Mortgage Loans related to all Securitization Trusts in accordance with the terms of the related Servicing Contract without regard to any ownership of any securities issued by the related Securitization Trust; and (xiii) other than with respect to an amendment to a Servicing Contract executed in accordance with Section 9.11 hereof, not change reimbursement mechanics of Delinquency Advances on any Securitization Trust from Pool-Level Advances to Loan-Level Delinquency Advances or from Loan-Level Delinquency Advances to Pool-Level Advances.

Servicing Standards. At all times, the Seller, as Servicer shall, unless otherwise consented to by the Agent:Agent (the following collectively referred to in the Transaction Documents as the “Servicing Standards”): (i) continue to make all Delinquency Advances and Servicing Advances and seek reimbursement, including reimbursement of Delinquency Advances and Servicing Advances deemed Nonrecoverable Advances by the Servicer, in accordance with the related Servicing Contract; (ii) apply the Advance Reimbursement Amount on a First In First Out (“FIFO”) basis; (iii) identify on its systems the Issuer as the owner of each Delinquency Advance and Servicing Advance and that such Delinquency Advance or Servicing Advance has been pledged to the Indenture Trustee; (iv) maintain systems and operating procedures necessary to comply with all the terms of the Transaction Documents, including but not limited to maintaining records and systems necessary to indicate cumulative recoveries on each category of Delinquency Advance and Servicing Advance; (v) cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vi) cooperate with the Calculation Agent and the Indenture Trustee in their respective duties set forth in the Transaction Documents; (vii) make all Delinquency Advances within the period required under the related Servicing Contract, unless the same is the result of inadvertence and is corrected on or prior to the related Distribution Date for the applicable Securitization Trust; (viii) with respect to all Delinquency Advances, agree to deposit the any Advance Reimbursement Amount from the Collection Account of the related Securitization Trust directly to into the Reimbursement Account on a daily basis not later than the second 2nd Business Day following receipts receipt thereof from Xxxxxxx Mac or into the related Collection Account or Xxxxxxx Mac Collection Account, as applicable, and not deposit any such Advance Reimbursement Amount at any time in the Servicer’s 's own accounts; (ixviii) so long as any Receivables related to Delinquency Advances sold or contributed hereunder are outstanding, the Seller shall remit 100% of all amounts collected with respect to all Servicing Advances, agree to deposit principal and interest (including any reimbursements from Xxxxxxx Mac) on the Advance Reimbursement Amount from the Payment Clearing Account directly related Mortgage Loans to the Reimbursement Account to the extent necessary to reduce the amount of such Receivables outstanding hereunder with respect to such Delinquency Advances; so long as any Receivables related to Servicing Advances sold or contributed hereunder are outstanding, the Seller shall remit 100% of all amounts collected that are attributable to each respective Servicing Advance (including any reimbursements from the related Mortgagor or Xxxxxxx Mac, other than as set forth immediately above) on a daily basis not later than the second Business Day following receipt thereof and not deposit any Advance related Mortgage Loans to the Reimbursement Amount at any time in Account to reduce the Servicer’s own accounts;amount of such Receivables outstanding hereunder with respect to such Servicing Advances; and (x) as it relates to Delinquency Advances on Mortgage Loans with Forbearance Agreements, continue the practice of reimbursing the oldest Delinquency Advance with any current payment received; (xiix) maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Securitization Trust the Xxxxxxx Mac Pool reflecting the status of all Pool-Level Delinquency Advances, Loan Level Delinquency Advances (Non-Judicial States), Loan-Level Delinquency Advances (Judicial States), Corporate Advances (Non-Judicial States), Corporate Advances (Judicial States), Escrow Advances (Non-Judicial States) and ), Escrow Advances (Judicial States) for such Securitization Trust), including the cumulative recoveries related to such Delinquency Advances and Servicing Advances; (xii) service all Mortgage Loans related to all Securitization Trusts in accordance with the terms of the related Servicing Contract without regard to any ownership of any securities issued by the related Securitization Trust; and (xiii) other than with respect to an amendment to a Servicing Contract executed in accordance with Section 9.11 hereof, not change reimbursement mechanics of Delinquency Advances on any Securitization Trust from Pool-Level Advances to Loan-Level Delinquency Advances or from Loan-Level Delinquency Advances to Pool-Level Advances.

Servicing Standards. At all times, the Seller, as Servicer shall, unless otherwise consented to by the Agent:Agent (the following collectively referred to in the Transaction Documents as the “Servicing Standards”): (i) continue to make Delinquency Advances and Servicing Advances Advances, other than Nonrecoverable Advances, within the period required under the related Servicing Contract, unless the same is the result of inadvertence and is corrected on or prior to the related Distribution Date for the applicable Securitization Trust, and seek reimbursement, including reimbursement of for all Delinquency Advances and Servicing Advances deemed Nonrecoverable Advances by the Servicer, made in accordance with the related Servicing Contract; (ii) apply the Advance Reimbursement Amount on a First In First Out (“FIFO”) basis; (iii) identify on its systems the Issuer as the owner of each Delinquency Advance and Servicing Advance and that such Delinquency Advance or Servicing Advance has been pledged to the Indenture Trustee; (iv) maintain systems and operating procedures necessary to comply with all the terms of the Transaction Documents, including but not limited to maintaining records and systems necessary to indicate cumulative recoveries on each category of Delinquency Advance and Servicing Advance; (v) cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vi) cooperate with the Calculation Agent and the Indenture Trustee in their respective duties set forth in the Transaction Documents; (vii) make all Delinquency Advances within the period required under the related Servicing Contract, unless the same is the result of inadvertence and is corrected on or prior to the related Distribution Date for the applicable Securitization Trust; (viii) with respect to all Delinquency Advances, agree to deposit the Advance Reimbursement Amount from the Collection Account of the related Securitization Trust directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipts receipt thereof and not deposit any such Advance Reimbursement Amount Amounts at any time in the Servicer’s 's own accounts; (ixviii) with respect to all Servicing Advances, agree to deposit the related Advance Reimbursement Amount Amounts from the Payment Clearing Account or related Collection Account, as applicable, directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipt thereof and not deposit any such Advance Reimbursement Amount Amounts at any time in the Servicer’s 's own accounts; (ix) with respect to all Legacy Deferred Servicing Fees, deposit the related Advance Reimbursement Amounts from the Payment Clearing Account or related Collection Account, as applicable, directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipt thereof and not deposit any such Advance Reimbursement Amounts at any time in the Servicer's own accounts; (x) as it relates to Delinquency Advances on Mortgage Loans with Forbearance Agreements, continue the practice of reimbursing the oldest Delinquency Advance with any current payment received; (xi) maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Securitization Trust reflecting the status of all Pool-Level Delinquency Advances, Loan Loan-Level Delinquency Advances (Non-Judicial States), Loan-Level Delinquency Advances (Judicial States), Corporate Advances (Non-Judicial States), Corporate Advances (Judicial States), Escrow Advances (Non-Judicial States) and ), Escrow Advances (Judicial States), Legacy Deferred Servicing Fees (Judicial States) and Legacy Deferred Servicing Fees (Non-Judicial States) for such Securitization Trust, including the cumulative recoveries related to such Delinquency Advances, Servicing Advances and Legacy Deferred Servicing AdvancesFees; (xii) service all Mortgage Loans related to all Securitization Trusts in accordance with the terms of the related Servicing Contract without regard to any ownership of any securities issued by the related Securitization Trust; and (xiii) other than with respect to an amendment to a Servicing Contract executed in accordance with Section 9.11 hereof, not change the reimbursement mechanics of Delinquency Advances on any Securitization Trust from Pool-Level Advances to Loan-Level Delinquency Advances or from Loan-Loan- Level Delinquency Advances to Pool-Level Advances.

Servicing Standards. At all times, the Seller, as Servicer shall, unless otherwise consented to by the Agent:Agent (the following collectively referred to in the Transaction Documents as the “Servicing Standards”): (i) continue to make Delinquency Advances and Servicing Advances and seek reimbursement, including reimbursement of Delinquency Advances and Servicing Advances deemed Nonrecoverable Advances by the Servicer, in accordance with the related Servicing Contract; (ii) apply the Advance Reimbursement Amount on a First In First Out (“FIFO”) FIFO basis; (iii) identify on its systems the Issuer as the owner of each Delinquency Advance and Servicing Advance and that such Delinquency Advance or Servicing Advance has been pledged to the Indenture Trustee; (iv) maintain systems and operating procedures necessary to comply with all the terms of the Transaction Documents, including but not limited to maintaining records and systems necessary to indicate cumulative recoveries on each category of Delinquency Advance and Servicing Advance; (v) cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vi) cooperate with the Calculation Agent and the Indenture Trustee in their respective duties set forth in the Transaction Documents; (vii) make all Delinquency Advances within the period required under the related Servicing Contract, unless the same is the result of inadvertence and is corrected on or prior to the related Distribution Date for the applicable Securitization Trust; (viii) with respect to all Delinquency Advances, agree to deposit the Advance Reimbursement Amount from the Collection Account of the related Securitization Trust directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipts receipt thereof and not deposit any Advance Reimbursement Amount at any time in the Servicer’s 's own accounts; (ix) with respect to all Servicing Advances, agree to deposit the related Advance Reimbursement Amount Amounts from the Payment Clearing Account or related Collection Account, as applicable, directly to the Reimbursement Account on a daily basis not later than the second Business Day following receipt thereof and not deposit any such Advance Reimbursement Amount Amounts at any time in the Servicer’s 's own accounts; (x) with respect to all Legacy Deferred Servicing Fees, deposit the Advance Reimbursement Amounts from the Payment Clearing Account or related Collection Account, as it relates applicable, directly to Delinquency Advances the Reimbursement Account on Mortgage Loans with Forbearance Agreements, continue a daily basis not later than the practice of reimbursing second Business Day following receipt thereof and not deposit any such Advance Reimbursement Amounts at any time in the oldest Delinquency Advance with any current payment receivedServicer's own accounts; (xi) with respect to Delinquency Advances and Servicing Advances from Non-Backstopped Securitization Trusts, agree to reimburse itself for Escrow Advances and Corporate Advances before Delinquency Advances in respect of a Mortgage Loan upon liquidation of such Mortgage Loan, to the extent permitted by the related Servicing Contract; provided, that, if Receivables attributable to Delinquency Advances are Non-Backstopped Receivables under a Servicing Contract but Corporate Advances and Escrow Advances are not, the Servicer shall effect reimbursement to itself for such Non-Backstopped Receivables before Receivables that are not Non-Backstopped Receivables to the extent permitted by the related Servicing Contract; (xii) maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Securitization Trust reflecting the status of all Pool-Level Delinquency Advances, Loan Loan-Level Delinquency Advances (Non-Judicial States), Loan-Level Delinquency Advances (Judicial States), Corporate Advances (Non-Judicial States), Corporate Advances (Judicial States), Escrow Advances (Non-Judicial States) and ), Escrow Advances (Judicial States) and Legacy Deferred Servicing Fees for such Securitization Trust, including the cumulative recoveries related to such Delinquency Advances Advances, Legacy Deferred Servicing Fees and Servicing Advances; (xiixiii) service all Mortgage Loans related to all Securitization Trusts in accordance with the terms of the related Servicing Contract without regard to any ownership of any securities issued by the related Securitization Trust; and (xiiixiv) other than with respect to an amendment to a Servicing Contract executed in accordance with Section 9.11 hereof, not change reimbursement mechanics of Delinquency Advances on any Securitization Trust from Pool-Level Advances to Loan-Level Delinquency Advances or from Loan-Level Delinquency Advances to Pool-Level Advances.