Servicing Transfers Sample Clauses
The Servicing Transfers clause governs the process by which the responsibility for servicing a loan or financial asset is transferred from one party to another. In practice, this clause outlines the conditions under which servicing rights may be assigned, the required notifications to borrowers, and the obligations of both the outgoing and incoming servicers to ensure a smooth transition. Its core function is to provide a clear framework for transferring servicing duties, thereby minimizing disruption for borrowers and ensuring continuity in the management of the loan or asset.
Servicing Transfers. Notwithstanding any resignation, removal or termination of the Primary Servicer, or any assignment of the obligations of the Primary Servicer, pursuant to the other provisions of this Agreement, the Primary Servicer shall remain obligated to comply from time to time with the reporting and certification obligations that would have been applicable under subsection (c) in the absence of such resignation, removal, termination or assignment, but only to the extent related to the time period prior to the effective date of such resignation, removal termination or assignment. Without limiting the generality of the preceding statement, if the Primary Servicer voluntarily assigns its obligations under this Agreement pursuant to the other provisions of this Agreement (or with the consent of the Master Servicer), then the successor Primary Servicer shall be obligated to cause the predecessor Primary Servicer to perform the surviving reporting and certification obligations set forth above and the failure to do so will constitute an "event of default" on the part of the successor Primary Servicer.
Servicing Transfers. Notwithstanding any resignation, removal or termination of the Primary Servicer, or any assignment of the obligations of the Primary Servicer, pursuant to the other provisions of this Agreement, the Primary Servicer shall remain obligated to comply from time to time with the reporting and certification obligations that would have been applicable under subsection (c)(iii)(C) (report of affiliations), subsection (c)(iii)(D) (assessment of compliance and related assessment by a public accounting firm), subsection (c)(iii)(E) (compliance certification) and/or subsection (c)(iv) (▇▇▇▇▇▇▇▇-▇▇▇▇▇ backup certification) in the absence of such resignation, removal, termination or assignment, but only to the extent related to the time period prior to the effective date of such resignation, removal termination or assignment. Without limiting the generality of the preceding statement, if the Primary Servicer voluntarily assigns its obligations under this Agreement pursuant to the other provisions of this Agreement (or with the consent of the Master Servicer), then the successor Primary Servicer shall be obligated to cause the predecessor Primary Servicer to perform the surviving reporting and certification obligations set forth above and the failure to do so will constitute an "event of default" on the part of the successor Primary Servicer.
Servicing Transfers. In the event of a transfer of the servicing on a Rescheduled Loan to a third party, Aegis shall continue to provide the services described in this Agreement, pursuant to the terms of the Procedures.
Servicing Transfers. Renovation Lender cannot transfer servicing of HomePath Renovation Mortgages until the renovation is complete. Special Feature Code(s) (“SFC”): Specific to Variance Mortgages 058 - for all HomePath Renovation Mortgages Special Feature Code(s) (“SFC”): Other Instructions • All standard per Selling Guide, including: • 118 (for first Mortgages originated in conjunction with Community Seconds transactions); or • 062 (Expanded Approval Mortgages) - for all HomePath Renovation Mortgages that receive an EA-I recommendation from DU. [***] Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Title (Version): HomeStyle ® Renovation Mortgages (04/2010) Description: Lender is approved to sell HomeStyle Renovation Mortgages per the Selling Guide.
Servicing Transfers. Renovation Lender cannot transfer servicing of HomePath Renovation Mortgages until the renovation is complete. Special Feature Code(s) (“SFC”): Specific to Variance Mortgages 058 - for all HomePath Renovation Mortgages Special Feature Code(s) (“SFC”): Other Instructions All standard per Selling Guide, including: 118 (for first Mortgages originated in conjunction with Community Seconds transactions); or
Servicing Transfers. From time to time, ▇▇▇▇▇▇ ▇▇▇ may (a) work with one or more approved servicers to sell, transfer, convey, and assign Servicing Rights for certain Mortgage Loans to Nationstar; (b) work with one or more approved servicers to appoint Nationstar to provide Subservicing for certain Mortgage Loans for such servicers, or (c) appoint Nationstar to provide Subservicing for certain Mortgage Loans for which ▇▇▇▇▇▇ ▇▇▇ is the Servicer. If a Prior Servicer hires Servicer as a subservicer and retains its ownership of the Servicing Rights, such Prior Servicer will be relieved of its related day-to-day Servicing obligations but will have continued liability for certain of its obligations as further described in the applicable Subservicing Agreement. This Agreement shall apply to all such Servicing or Subservicing (whether the direct Servicer is ▇▇▇▇▇▇ ▇▇▇ or a Prior Servicer), as applicable. ▇▇▇▇▇▇ ▇▇▇ shall consider and consult in good faith with Nationstar about providing financing for subsequent purchases of ▇▇▇▇▇▇ ▇▇▇ Servicing Rights.
Servicing Transfers. Renovation Lender cannot transfer servicing of HomePath Renovation Mortgages until the renovation is complete. Special Feature Code(s) (“SFC”): Specific to Variance Mortgages 058 - for all HomePath Renovation Mortgages Special Feature Code(s) (“SFC”): Other Instructions • All standard per Selling Guide, including: • 118 (for first Mortgages originated in conjunction with Community Seconds transactions); or • 062 (Expanded Approval Mortgages) - for all HomePath Renovation Mortgages that receive an EA-I recommendation from DU.