Statements to Master Servicer. Not later than the Reporting Date of each month, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with a trial balance report attached thereto, in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as to the period ending on the Record Date in the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to time.
Appears in 37 contracts
Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Lehman Sarm 2005-5), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Rate)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each month, the Servicer shall furnish to the Master Servicer a and the NIMS Insurer an electronic monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsTrust Fund. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Securities Administrator or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner the Securities Administrator and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner Securities Administrator to prepare its federal income tax return returns as any Owner or the Master Servicer Securities Administrator may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 8 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust Series 2004-11), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMs Insurer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed heretoD hereto with regard to monthly loan remittance data, together Exhibit E with a delinquency report in the form of regard to default mortgage loans, and Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable F with regard to the parties as to realized losses or gains for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. The Servicer shall also furnish to the Master Servicer and the NIMs Insurer (in such format mutually agreed to by the Servicer and the Master Servicer) a monthly report detailing loan level Prepayment Charges collected and/or waived by the Servicer in accordance with Section 3.15. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder and the transactions contemplated herebyNIMs Insurer to prepare its federal income tax return. In additionSuch obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2004, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust's federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp Asset Backed Pass-Through Certificates, 2005-2), Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.), Pooling and Servicing Agreement (Homestar Mortgage Acceptance Corp Asset-Backed Pass-Through Certificates, Series 2004-4)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2005, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 7 contracts
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2005-7), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-3), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-4)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Securities Administrator’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Securities Administrator and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 7 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc1), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-9)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each month (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice in the format set forth in Exhibit D-1 hereto and a monthly default loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The Servicer shall include in the monthly remittance advice information regarding each Employee Mortgage Loan (including, without limitation, the related Employee Discount Rate and any amounts remitted to the Master Servicer pursuant to Section 4.01 as a result of the Employee Discount Rate ceasing to apply to any Mortgage Loan. Not later than the seventeenth day of each month, the Servicer shall furnish to the Master Servicer (a) a monthly payoff remittance adviceadvice regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, with a trial balance report attached theretobut on or before the sixteenth day of the month of such reporting date, containing such information and in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium such format as is mutually acceptable to the parties as to the period ending on the Record Date in the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and the Servicer, and in any other party designated by event containing sufficient information to permit the Master Servicer which includes on an aggregate basis for to properly report Principal Prepayment in full information to the previous Due Period (i) Trustee under the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies Trust Agreement and (ivb) PMI Policies canceled with respect all such information required pursuant to those Mortgage Loans covered by any PMI Policy purchased by clause (a) above in electronic format, on magnetic tape or other similar media reasonably acceptable to the OwnerMaster Servicer. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, commencing December 31, 2003, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating furnish to Reconstituted each Person who was an owner of the Mortgage Loans and one relating at any time during such calendar year as required by applicable law or if not required by applicable law, at the request of such owner as to all the aggregate of remittances for the applicable portion of such year. The Master Servicer may request that the Servicer provide, at the Master Servicer’s expense, an appraisal or a broker price opinion on any Mortgage Loans Loan which is 90 days or more delinquent. The Servicer shall use its best efforts to deliver such appraisal or broker price opinion to the Master Servicer within 15 calendar days after such request. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Internal Revenue Code as from time to time are not then subject to a Reconstitutionin force. Upon reasonable advance noticeBeginning with calendar year 2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer or the Trustee to prepare its the Trust Fund’s federal income tax return as any Owner or the Master Servicer or the Trustee may reasonably request from time to time.
Appears in 7 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 30), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Se 2003 29), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-21)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans Trustee and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 6 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp. 2005 S-3), Servicing Agreement (Structured Asset Securities Corp 2005-S5), Servicing Agreement (Structured Asset Securities Corp 2005-S6)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 5 contracts
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc8), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc5), Subservicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 5 contracts
Samples: Servicing Agreement (Structured Asset Inv Loan Mort Pass THR Certs Ser 2003-Bc6), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc8), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc9)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Securities Administrator’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Securities Administrator and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 5 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-4), Securitization Servicing Agreement (Structured Asset Securities Corp), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-8)
Statements to Master Servicer. Not later than the Reporting Date 5th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2004, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 5 contracts
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2004-10), Subservicing Agreement (Structured Asset Investment Loan Trust 2004-9), Subservicing Agreement (Structured Asset Investment Loan Trust Series 2004-11)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer a and the NIMS Insurer an electronic monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsTrust Fund. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Securities Administrator or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner the Securities Administrator and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner Securities Administrator to prepare its federal income tax return returns as any Owner or the Master Servicer Securities Administrator may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 4 contracts
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2005-10), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-8), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-9)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Securities Administrator’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Securities Administrator and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004-3), Securitization Servicing Agreement (Structured Asset Securities Corp), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004 2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each month, the Servicer shall furnish to the Master Servicer a and the NIMS Insurer an electronic monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsTrust Fund. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Securities Administrator or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner the Securities Administrator and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner Securities Administrator to prepare its federal income tax return returns as any Owner or the Master Servicer Securities Administrator may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 4 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11), Subservicing Agreement (Structured Asset Securities Corp), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004-3)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency report D hereto (or in such other format mutually agreed between the form of Exhibit D-2 annexed hereto, in hard copy Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. The format of this monthly reporting may be amended from time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-8), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-9), Securitization Servicing Agreement (Structured Asset Investment Loan Trust Series 2004-11)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Not later than the seventeenth day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, but on or before the sixteenth day of the month of such reporting date, containing such information and in such format as is mutually acceptable to the Master Servicer and the Servicer, and in any event containing sufficient information to permit the Master Servicer to properly report Principal Prepayment in full information to the Securities Administrator under the Trust Agreement and (b) all such information required hereunder pursuant to clause (a) above in two (2) separate reportselectronic format, one relating on magnetic tape or other similar media reasonably acceptable to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are the Master Servicer. In addition, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 4 contracts
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2005-6), Servicing Agreement (Structured Asset Investment Loan Trust 2005-5), Servicing Agreement (Structured Asset Investment Loan Trust 2005-4)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMs Insurer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed heretoD hereto with regard to monthly loan remittance data, together Exhibit E with a delinquency report in the form of regard to default mortgage loans, and Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable F with regard to the parties as to realized losses or gains for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. The Servicer shall also furnish to the Master Servicer and the NIMs Insurer (in such format mutually agreed to by the Servicer and the Master Servicer) a monthly report detailing loan level Prepayment Charges collected and/or waived by the Servicer in accordance with Section 3.15. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder and the transactions contemplated herebyNIMs Insurer to prepare its federal income tax return. In additionSuch obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2004, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp Asset Backed Pass-Through Certificates, Series 2005-3), Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp Asset Backed Pass-Through Certificates, 2005-5), Pooling and Servicing Agreement (Opteum Mortgage Acceptance Corp. Asset-Backed Pass-Through Certificates, Series 2005-4)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month (or, if such sixteenth day is not a Business Day, the immediately succeeding Business Day; provided that are not then subject to a Reconstitution. Upon reasonable advance noticein no event may such reporting be delivered after the eighteenth day of each month), the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2006-1), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2006-Bnc1), Securitization Servicing Agreement (Sail 2006-2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as Master Servicer and the NIMS Insurer. The format of this monthly reporting may be amended from time to time to the period ending on the Record Date in the preceding calendar monthextent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2005, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp 2005-S4), Servicing Agreement (Structured Asset Securities Corp 2005-S5), Servicing Agreement (Structured Asset Securities Corp 2005-S1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2005, the Servicer shall provide the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Servicing Agreement (Structured Asset Investment Loan Trust 2005-1), Servicing Agreement (Structured Asset Investment Loan Trust 2005-3)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (i) the amount of claims filed on any LPMI Policy, (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to those Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, but on or before the fourteenth day of the month of such reporting date, containing such information and in such format as is mutually acceptable to the Master Servicer and the Servicer, and in any event containing sufficient information to permit the Master Servicer to properly report Principal Prepayment in full information to the Securities Administrator under the Trust Agreement and (b) all such information required hereunder pursuant to clause (a) above in two (2) separate reportselectronic format, one relating on magnetic tape or other similar media reasonably acceptable to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are the Master Servicer. In addition, at the Master Servicer’s or Securities Administrator’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Securities Administrator and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-11), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-9), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-10)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer a and the NIMS Insurer an electronic monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsTrust Fund. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Trustee or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner the Trustee and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner Trustee to prepare its federal income tax return returns as any Owner or the Master Servicer Trustee may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 3 contracts
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2005-He2), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-He3), Subservicing Agreement (Structured Asset Securities Corp 2005-Ar1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer each Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from each Seller (with respect to its related Mortgage Loans) to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2004, the Servicer shall provide the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004 2), Servicing Agreement (Structured Asset Investment Loan Trust 2004-4), Servicing Agreement (Structured Asset Investment Loan Trust Series 2004-11)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed heretohereto (or in such other format mutually agreed between the Servicer and the Master Servicer), together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the Servicer, whose agreement shall not be unreasonably withheld. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by upon 30 days written notice from the Master Servicer Servicer, the NIMS Insurer and the Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutionaccordance with requirements. Upon reasonable advance noticeNot later than the seventeenth day of each month, the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, a bankbut on or before the sixteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Trustee under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Securities CORP 2007-Bc1), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc2), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed heretohereto (which remittance advice shall include Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, together with but on or before the last day of the month preceding the month of such reporting date), a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month (or, if such sixteenth day is not a Business Day, the immediately succeeding Business Day; provided that are not then subject to a Reconstitution. Upon reasonable advance noticein no event may such reporting be delivered after the eighteenth day of each month), the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the first day of the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2006-4), Securitization Servicing Agreement (Sasco 2006-Am1)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 3 contracts
Samples: Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3), Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel1), Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer a and the NIMS Insurer an electronic monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsTrust Fund. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Securities Administrator or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner the Securities Administrator and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner Securities Administrator to prepare its federal income tax return returns as any Owner or the Master Servicer Securities Administrator may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 3 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2005-2), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-4), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-3)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 39ex)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the Certificate Insurer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed heretoD hereto with regard to monthly loan remittance data, together Exhibit E with a delinquency report in the form of regard to default mortgage loans, and Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable F with regard to the parties as to realized losses or gains for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. The Servicer shall also furnish to the Master Servicer and the Certificate Insurer (in such format mutually agreed to by the Servicer and the Master Servicer) a monthly report detailing loan level Prepayment Charges collected and/or waived by the Servicer in accordance with Section 3.15. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2006, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder and the transactions contemplated herebyCertificate Insurer to prepare its federal income tax return. In additionSuch obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2006, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 3 contracts
Samples: Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Servicing Agreement (MASTR Alternative Loan Trust 2006-1), Servicing Agreement (MASTR Asset Securitization Trust 2006-3)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed heretohereto (which remittance advice shall include Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, together with but on or before the last day of the month preceding the month of such reporting date), a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator and any other party designated by the Master Servicer NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month (or, if such sixteenth day is not a Business Day, the immediately succeeding Business Day; provided that are not then subject to a Reconstitution. Upon reasonable advance noticein no event may such reporting be delivered after the eighteenth day of each month), the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the first day of the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-1), Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc6)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Trustee to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Trustee and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2006, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-6xs), Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-3xs)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer Servicer, the Securities Administrator and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Securities Administrator will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Master Servicer to prepare its the Trust Fund's federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2), Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3)
Statements to Master Servicer. Not later than the Reporting Date fifth (5th) calendar day of each month, commencing with March 2003 (or if such fifth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice (a “Monthly Remittance Advice”) in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. month and a report detailing the Servicer’s performance under each category of the performance standards set forth on Exhibit F. Such monthly remittance advice Monthly Remittance Advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 Bc1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc2)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer Servicer, the Trustee and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer each Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the OwnerTrust Fund. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from each Seller (with respect to its related Mortgage Loans) to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer, the Trustee and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner the Master Servicer, the Trustee and the Master Servicer NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Subservicing Agreement (Amoritizing Residential Col Tr Mor Pas Thru Cer Ser 2002-Bc6), Subservicing Agreement (Structured Asset Securities Corp)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the Indenture Trustee (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law or the terms of the Transfer and Servicing Agreement Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Indenture Trustee and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been Issuer, subject to the lien of the Indenture Trustee; provided, however, notwithstanding anything to the contrary contained in a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with Indenture Trustee such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Indenture Trustee to prepare its the Issuer’s federal income tax return as and for any Owner or investor in the Securities to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Indenture Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Indenture Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Indenture Trustee within such reasonable time frame as shall enable the Indenture Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and, upon request, the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to the period ending on the Record Date in the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller and, upon request, the NIMS Insurer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of calendar year December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan associationprovide, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities but only with respect to its investment in the such portion of calendar year 2005 for which Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner are serviced pursuant to any applicable law with respect this Agreement, (as such information becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and, upon request, the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as any Owner return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer (or successor servicer) to the Master Servicer may reasonably request and the Trustee and, upon request, the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide, but only with respect to such portion of calendar year 2005 for which Mortgage Loans are serviced pursuant to this Agreement, such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Interim Subservicing Agreement (Structured Asset Investment Loan Trust 2005-9), Subservicing Agreement (Structured Asset Investment Loan Trust 2005-10)
Statements to Master Servicer. (a) Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, in hard copy hereto (or upon such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto (of such other format mutually agreed upon by the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall provide each Owner and include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with such respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information concerning from the Mortgage Loans as is necessary for such Owner Seller to prepare appropriately code its federal income tax return as any Owner or servicing system in accordance with the Master Servicer may reasonably request from time to timePMI Insurer’s requirements.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc6), Servicing Agreement (Sasco 2006-Opt1)
Statements to Master Servicer. Not later than xxxxx xhan the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as to D hereto for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect The Master Servicer will convert such data into a format acceptable to any month each related Trustee and provide monthly reports to such Trustee pursuant to the related Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the transactions contemplated herebyCode as from time to time are in force. In additionBeginning with calendar year 2003, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust's federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-2), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-6)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, the Trustee and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth at Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer, the Trustee and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Trustee, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans Trustee and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Amoritizing Residential Col Tr Mor Pas Thru Cer Ser 2002-Bc6), Securitization Servicing Agreement (Structured Asset Securities Corp)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed heretohereto (which remittance advice shall include Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, together with but on or before the last day of the month preceding the month of such reporting date), a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Trustee, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month (or, if such sixteenth day is not a Business Day, the immediately succeeding Business Day; provided that are not then subject to a Reconstitution. Upon reasonable advance noticein no event may such reporting be delivered after the eighteenth day of each month), the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the first day of the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Trustee under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi), Securitization Servicing Agreement (Structured Asset Securities CORP 2007-Bc1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc13), Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc5), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc13)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each month, the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with month and (ii) all such information required pursuant to clause (i) above on a supplemental report provided magnetic tape or other similar media reasonably acceptable to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period Servicer. The monthly statement shall include (ia) the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Serviced Mortgage Loans covered by any PMI Policy purchased Policy, on a current and cumulative basis the amount of any (i) claims filed, (ii) claims payments made, (iii) claims denied, (iv) policies cancelled and (v) all such other information reasonably required by the Owner. With respect to Master Servicer and (b) the amount of any month in which Monthly Advances made by the Servicer on such Monthly Remittance Date. The Master Servicer may request that the Servicer provide, at the Master Servicer’s expense, an appraisal or a broker price opinion on any Mortgage Loan which is servicing both Reconstituted Mortgage Loans 90 days or more delinquent. The Servicer shall promptly, and Mortgage Loans that have not been subject in no event later than 15 calendar days after such request, deliver such appraisal or broker price opinion to a Reconstitutionthe Master Servicer. Beginning with the year 2003, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings for the portion of the tax year 2002 and the portion of subsequent tax years for which the Servicer has serviced some or all of the Mortgage Loans hereunder as such returns, information statements or other filings are required to be delivered to any governmental taxing authority or to any Owner the Master Servicer pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as any Owner or the Master Servicer may reasonably request from time to time.
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-24), Mortgage Loan Sale and Servicing Agreement (Structured Asset Securities Corp Mor Pa Th Ce Se 2002 23xs)
Statements to Master Servicer. Not later than xxxxx xxan the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as to D hereto for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect The Master Servicer will convert such data into a format acceptable to any month each related Trustee and provide monthly reports to such Trustee pursuant to the related Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the transactions contemplated herebyCode as from time to time are in force. In additionBeginning with calendar year 2003, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust's federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 2 contracts
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-1), Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth at Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer NIMS Insurer and the Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice in the format set forth in Exhibit D hereto (or in such other format mutually agreed between the Servicer and the Master Servicer) relating to the period ending on the last day of each monththe preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law or the terms of the Transfer and Servicing Agreement. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been Issuer, subject to the lien of the Indenture Trustee; provided, however, notwithstanding anything to the contrary contained in a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Indenture Trustee to prepare its the Issuer’s federal income tax return as and for any Owner or investor in the Securities to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Indenture Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide such information reasonably available to it as may be requested by the Indenture Trustee and required for the completion of any tax reporting responsibility of the Indenture Trustee within such reasonable time frame as shall enable the Indenture Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Securities Administrator’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Securities Administrator and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc13)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Not later than the seventeenth day of each month, the Servicer shall furnish to the Master Servicer (a) a monthly payoff remittance advice regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, but on or before the sixteenth day of the month of such reporting date, containing such information and in such format as is mutually acceptable to the Master Servicer and the Servicer, and in any event containing sufficient information to permit the Master Servicer to properly report Principal Prepayment in full information to the Trustee under the Trust Agreement and (b) all such information required hereunder pursuant to clause (a) above in two (2) separate reportselectronic format, one relating on magnetic tape or other similar media reasonably acceptable to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are the Master Servicer. In addition, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return and for any investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as any Owner or from time to time are in force. The Servicer shall also provide to the Master Servicer such information as may reasonably request from be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timetimely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-6xs), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-8xs)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Trustee, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Trustee’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Trustee and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (SASCO Mortgage Pass Through Certificates, Series 2005-Nc2), Securitization Servicing Agreement (SASCO Mortgage Pass Through Certificates, Series 2005-Nc1)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency report D hereto (or in such other format mutually agreed between the form of Exhibit D-2 annexed hereto, in hard copy Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide such information reasonably available to it as may be requested by the Trustee and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 2 contracts
Samples: Securitization Subservicing Agreement (Finance America Mortgage Loan Trust 2004-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, the Securities Administrator and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth at Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer, the Securities Administrator and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect Such supplemental report shall also include the aggregate amount of DA Dividends attributable to any month in which the Servicer is servicing both Reconstituted DAD Mortgage Loans deposited into the DA Reserve Account for the related Due Period and Mortgage Loans that have not been subject the amount of DA Dividends remitted to the Master Servicer for the related Due Period as a result of or relating to a ReconstitutionDA Forfeiture Event by the related Mortgagor. The Securities Administrator will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans Securities Administrator and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Securitization Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth at Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer, the Trustee and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer NIMS Insurer and the Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Trustee, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Trustee’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and Servicer) to the transactions contemplated hereby. In additionMaster Servicer, the Servicer shall provide each Owner and Trustee and, if required, the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Securities Administrator such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Inv Loan Tr Mort Pass-THR Cert Ser 2004-1)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day) the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer and the NIMS Insurer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Am1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer each Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from each Seller (with respect to its related Mortgage Loans) to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2003-Bc2)
Statements to Master Servicer. Not later than the Reporting Date 5th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as Master Servicer and the NIMS Insurer. The format of this monthly reporting may be amended from time to time to the period ending on the Record Date in the preceding calendar monthextent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2004, the Servicer shall provide the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2004-8)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer Servicer, the Securities Administrator and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth at Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer, the Securities Administrator and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Securities Administrator will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans Securities Administrator and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the Securities Administrator (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium the Master Servicer) and a monthly modified loan report in the format set forth in Exhibit D-3 hereto (or in such other format mutually acceptable agreed to between the parties as Servicer and the Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with month and (ii) all such information required pursuant to clause (i) above on a supplemental report provided magnetic tape or other similar media reasonably acceptable to the Master Servicer and any other party designated by the Servicer, whose agreement shall not be unreasonably withheld. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law or the terms of the Trust Agreement. All information relating to the delinquency status of a Mortgage Loan and included in the reports delivered to the Master Servicer which includes on an aggregate basis for under this Agreement shall be calculated using the previous Due Period MBA delinquency method. Not later than the seventeenth day of each month (i) or if such day is not a Business Day, the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionimmediately preceding Business Day), the Servicer shall submit all information required hereunder furnish to the Master Servicer and the Securities Administrator (a) a monthly payoff remittance advice regarding any Principal Prepayments in two (2) separate reportsfull applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticebut on or before the sixteenth day of the month of such reporting date, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Trustee under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2008-2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as Master Servicer and the NIMS Insurer. The format of this monthly reporting may be amended from time to time to the period ending on the Record Date in the preceding calendar monthextent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2004, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (and the Master Servicer shall as promptly as practicable upon receipt from the Servicer furnish to the NIMS Insurer) (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar month. Such , a monthly remittance advice shall also be accompanied with loan loss report in the format set forth in Exhibit D-3 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) and a supplemental monthly modified loan report provided in the format set forth in Exhibit D-4 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer; provided, however, the information required by Exhibit D-2 and Exhibit D-3 is limited to that which is readily available to the Servicer and any other party designated is mutually agreed to by the Servicer and Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsServicer. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to provide the Mortgage Loans and the transactions contemplated hereby. In addition, the Master Servicer shall provide each Owner (and the Master Servicer shall as promptly as practicable upon receipt from the Servicer furnish the NIMS Insurer) with such information available to it concerning the Mortgage Loans as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as any Owner or the Master Servicer Securities Administrator may reasonably request from time to time. The Master Servicer shall deliver copies of the monthly remittance advance and such other information required to be delivered pursuant to this Section 5.02 to the NIMS Insurer in the same format as received from the Servicer. In connection with the delivery of such documentation to the NIMS Insurer, the Master Servicer shall have no obligation to verify, recompute, reconcile, recalculate or reformat any such documentation prior to its delivery to the NIMS Insurer and shall not have any liability for any errors or omissions with respect to information contained in such documentation.
Appears in 1 contract
Samples: Warranties and Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Wf2)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with (which remittance advice shall include Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, but on or before the last day of the month preceding the month of such reporting date), a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and make available monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutioncovered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Upon reasonable advance noticeNo later than three business days after the Prepayment Period, the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the first day of the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, upon request, the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to the period ending on the Record Date in the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller and, upon request, the NIMS Insurer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of calendar year December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan associationprovide, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities but only with respect to its investment in the such portion of calendar year 2005 for which Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner are serviced pursuant to any applicable law with respect this Agreement, (as such information becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and, upon request, the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as any Owner return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer (or successor servicer) to the Master Servicer may reasonably request and the Trustee and, upon request, the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide, but only with respect to such portion of calendar year 2005 for which Mortgage Loans are serviced pursuant to this Agreement, such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2005-11)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2003, the Servicer shall provide the Master Servicer, the Trustee and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Trustee to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Trustee and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each month, the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice containing such information in the form of Exhibit D-1 annexed hereto, together with a delinquency report in Xxxxxx Xxx Form 2010 or such other form as shall be required by the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable Xxxxxx Mae Guides or by the Master Servicer as to the parties as to accompanying remittance and the period ending on the Record Date in last day of the preceding calendar month and (ii) all such information required pursuant to clause (ii) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Not later than the seventeenth day of each month. Such , the Servicer shall furnish to the Master Servicer (a) a monthly payoff remittance advice shall also be accompanied with a supplemental report provided regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, but on or before the sixteenth day of the month of such reporting date, containing such information and in such format as is mutually acceptable to the Master Servicer and the Servicer, and in any other party designated by event containing sufficient information to permit the Master Servicer which includes on an aggregate basis for to properly report Principal Prepayment in full information to the previous Due Period (i) Trustee under the amount of claims filed under PMI Policies and LPMI Policies, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies Trust Agreement and (ivb) PMI Policies canceled with respect all such information required pursuant to those Mortgage Loans covered by any PMI Policy purchased by clause (a) above in electronic format, on magnetic tape or other similar media reasonably acceptable to the OwnerMaster Servicer. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, commencing December 31, 2004, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating furnish to Reconstituted each Person who was an owner of the Mortgage Loans and one relating at any time during such calendar year as required by applicable law or if not required by applicable law, at the request of such owner as to all the aggregate of remittances for the applicable portion of such year. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Internal Revenue Code as from time to time are in force. The Master Servicer may request that the Servicer provide, at the Master Servicer's expense, an appraisal or a broker price opinion on any Mortgage Loans that are not then subject Loan which is 90 days or more delinquent. The Servicer shall use its best efforts to a Reconstitutiondeliver such appraisal or broker price opinion to the Master Servicer within 15 calendar days after such request. Upon reasonable advance noticeBeginning with calendar year 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner the Securities Administrator or the Trustee to prepare its the Trust Fund's federal income tax return as any Owner the Securities Administrator or the Master Servicer Trustee may reasonably request from time to time.
Appears in 1 contract
Samples: Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the Servicer, whose agreement shall not be unreasonably withheld. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutionaccordance with requirements. Upon reasonable advance noticeNot later than the seventeenth day of each month, the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, a bankbut on or before the sixteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Trustee under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Samples: Servicing Agreement (BNC Mortgage Loan Trust 2006-1)
Statements to Master Servicer. Not later than the Reporting Date fifth (5th) calendar day of each monthmonth (or if such fifth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2002, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner and annual remittances to the Master Servicer, if any, to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf2)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each month, the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of Exhibit D-1 annexed heretoFidelity (or any successor thereto) S50Y format (or in such other formats mutually agreed to between the Servicer and the Master Servicer), together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as such advice relating to the period ending on the Record Date in last day of the preceding calendar month. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law or the terms of the Transfer and Servicing Agreement. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been Issuer, subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, lien of the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirementsIndenture Trustee. The Servicer shall prepare and file any and all usual and customary tax returns, information statements or other filings required to be delivered to any governmental taxing authority authority, the Indenture Trustee or to any Owner its designee pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer Indenture Trustee with such information concerning the Mortgage Loans as is necessary for such Owner the Indenture Trustee to prepare its federal income tax return returns as any Owner or the Master Servicer Indenture Trustee may reasonably request from time to time. Such obligation of the Servicer shall be deemed satisfied to the extent that substantially comparable information has been provided by the Servicer throughout the calendar year.
Appears in 1 contract
Samples: Securitization Subservicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Statements to Master Servicer. Not later than the Reporting Date of each monthtenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency report D hereto (or in such other format mutually agreed between the form of Exhibit D-2 annexed hereto, in hard copy Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer and the NIMS Insurer a report setting forth a calculation of each of the Trigger Events set forth in Section 8.03 relating to the period ending on the last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide such information reasonably available to it as may be requested by the Trustee and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the Servicer immediately preceding Business Day), the Seller shall furnish to the Master Servicer (i) a monthly remittance advice, with advice in a trial balance report attached thereto, format mutually agreed to between the Seller and the Master Servicer similar to the format set forth in the form of Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in a format mutually agreed to between the form of Seller and the Master Servicer similar to the format set forth in Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as hereto relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice The Seller shall also be accompanied with a supplemental report provided promptly notify the Trustee, the Master Servicer and the Depositor (i) of any legal proceedings pending against the Seller of the type described in Item 1117 (Section 229.1117) of Regulation AB and (ii) if the Seller shall become (but only to the extent not previously disclosed to the Master Servicer and the Depositor) at any time an affiliate of any of the other party designated parties listed on Exhibit G to this Agreement. If so requested by the Trustee, the Master Servicer or the Depositor on any date following the date on which includes on an aggregate basis for information was first provided to the previous Due Period (i) Trustee and the amount of claims filed under PMI Policies and LPMI Policies, (ii) Depositor pursuant to the amount of any claim payments made under PMI Policies and LPMI Policies, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionpreceding sentence, the Servicer shall submit all information required hereunder Seller shall, within five Business Days following such request, confirm in two writing the accuracy of the representations and warranties set forth in Section 2(b)(i) of the Regulation AB Compliance Addendum (2) separate reportsor, one relating if such a representation and warranty is not accurate as of the date of such request, provide reasonable adequate disclosure of the pertinent facts, in writing, to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutionthe requesting party. Upon reasonable advance notice, the Servicer The Seller shall provide to the Trustee, the Master Servicer and the Depositor prompt notice of the occurrence of any Owner that is a savings of the following: any event of default under the terms of this Agreement, any merger, consolidation or sale of substantially all of the assets of the Seller, the Seller's engagement of any Subservicer, Subcontractor or vendor to perform or assist in the performance of any of the Seller's obligations under this Agreement, any material litigation involving the Seller, and loan association, a bank, an insurance company any affiliation or other regulated significant relationship between the Seller and other transaction parties, as such transaction parties are identified on Exhibit G to this Agreement. Not later than the tenth calendar day of each month (or supervised entity reports and access if such calendar day is not a Business Day, the immediately preceding Business Day), the Seller shall provide to information and documentation regarding the Mortgage Loans Trustee, the Master Servicer and the transactions contemplated hereby sufficient to permit Depositor notice of the Owner to comply with the applicable regulations occurrence of relevant regulatory any material modifications, extensions or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnswaivers of terms, information statements fees, penalties or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect payments relating to the Mortgage Loans during the related Due Period or that have cumulatively become material over time (Item 1121(a)(11) of Regulation AB) along with all information, data, and materials related thereto as may be required to be included in the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to time.related Distribution Report on Form 10-D.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-10n)
Statements to Master Servicer. Not Xxx later than the Reporting Date 16th calendar day of August 2001 and the 12th calendar day of each monthsubsequent month (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable D hereto as to the parties as to accompanying remittance and the period ending on the Record Determination Date in and (b) all such information required pursuant to clause (a) above on a magnetic tape or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer and the NIMS Insurer. Such monthly remittance advice shall also be provided by the Servicer to Aurora Loan Services Inc. on behalf of the Seller. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Serviced Mortgage Loans covered by the Radian Master PMI Insurance Policy or any PMI Policy other provider of primary mortgage insurance purchased by the OwnerTrust Fund. With respect Such supplemental report shall also include the aggregate amount of DA Dividends attributable to any month in which the Servicer is servicing both Reconstituted DAD Mortgage Loans deposited into the DA Reserve Account for the related Due Period, and Mortgage Loans that have not been subject the amount of DA Dividends remitted to the Master Servicer for the related Due Period as a result of or relating to a ReconstitutionDA Forfeiture Event by the related Mortgagor. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in the Radian Master PMI Insurance Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to the Radian Master PMI Insurance Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Depositor to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2001, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Serviced Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2002, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Serviced Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund's federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2001-Bc5)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by a Seller on behalf of the Owner. With respect Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the Securities Administrator to permit prepare the Owner Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer, the Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Securities Administrator and required for the completion of any tax reporting responsibility of the Securities Administrator within such reasonable time frame as shall enable the Securities Administrator to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2004, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004 2)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer with respect to each the Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as to D hereto for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect The Master Servicer will convert such data into a format acceptable to any month each the Trustee and provide monthly reports to such Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2002, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities Master Servicer with respect to the Securitized Loans in each Trust as is necessary for each Certificateholder to prepare its investment federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the Code as from time to time are in the Mortgage Loans and the Owner's internal and third-party audit requirementsforce. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the Trust’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed heretohereto (or in such other format mutually agreed between the Servicer and the Master Servicer), together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar month, a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) and a monthly modified loan report in the format set forth in Exhibit D-4 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the Servicer, whose agreement shall not be unreasonably withheld. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by upon 30 days written notice from the Master Servicer Servicer, the NIMS Insurer and the Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Not later than the seventeenth day of each month (or, if such seventeenth day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Principal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, but on or before the sixteenth day of the month of such reporting date, containing such information and in such format as is mutually acceptable to the Master Servicer and the Servicer, and in any event containing sufficient information to permit the Master Servicer to properly report Principal Prepayment in full information to the Trustee under the Trust Agreement and (b) all such information required hereunder pursuant to clause (a) above in two (2) separate reportselectronic format, one on magnetic tape or other similar media reasonably acceptable to the Master Servicer. To the extent that the Master Servicer has provided an “ARM 304” or other similar report relating to Reconstituted the adjustment of Mortgage Loans Interest Rates for any or all of the Mortgage Loans, the Servicer shall review such report and one relating resolve any Mortgage Interest Rate adjustment discrepancies with the Master Servicer prior to all the related Mortgage Loans that are not then subject to a ReconstitutionInterest Rate adjustment date. Upon reasonable advance noticeIn connection therewith, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans documentation as is may be reasonable necessary for to resolve such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timediscrepancies.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc4)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer Servicer, and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing January 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s or Trustee request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with or the Trustee and, if required, the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Trustee and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff7)
Statements to Master Servicer. Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law or the terms of the Transfer and Servicing Agreement. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerIssuer. With respect The Master Servicer will convert such data into a format acceptable to any month the Indenture Trustee and provide monthly reports to the Indenture Trustee pursuant to the Transfer and Servicing Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Issuer. In addition, at the Master Servicer’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Indenture Trustee to prepare its the Issuer’s federal income tax return as and for any Owner or investor in the Securities to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Indenture Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Indenture Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Indenture Trustee within such reasonable time frame as shall enable the Indenture Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMs Insurer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth as Exhibit D-1 annexed heretoD hereto with regard to monthly loan remittance data, together with a delinquency report set forth as Exhibit E with regard to default mortgage loans and a realized loss report in the form of format set forth as Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable F with regard to the parties as to realized losses or gains for the period ending on the Record Date first day of such calendar month (i.e., the Due Period) and (b) all such information required pursuant to clause (a) above in an electronic file or other similar media reasonably acceptable to the preceding Master Servicer. The Servicer shall also furnish to the Master Servicer and the NIMs Insurer (in such format mutually agreed to by the Servicer and the Master Servicer) a monthly report detailing loan level Prepayment Charges collected and/or waived by the Servicer in accordance with Section 3.15. Not later than the 18th calendar monthday of each month (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMs Insurer with respect to each related Trust, or as the Servicer and the Master Servicer may otherwise agree (a) a Prepayment in Full report with regard to Prepayments in Full. in an electronic file or other similar media reasonably acceptable to the Master Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Securitized Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust. With respect Notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2004, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access the Servicer) to the Master Servicer such information and documentation regarding concerning the Mortgage Securitized Loans and annual remittances to the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Master Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Securitized Loans in each Trust as is necessary for each Certificateholder and the transactions contemplated herebyNIMs Insurer to prepare its federal income tax return. In additionSuch obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2004, the Servicer shall provide each Owner and the Master Servicer and each Trustee with such information concerning the Mortgage related Securitized Loans as is necessary for such Owner Trustee to prepare its the related Trust’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time related Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP Trust 2006-2)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2003, the Servicer shall provide the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc13)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and, if required, the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-He3)
Statements to Master Servicer. (a) Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, in hard copy hereto (or upon such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto and (b) all such information required pursuant to clause (a) above on a magnetic tape, electronic mail, or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall provide each Owner and include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with such respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information concerning from the Mortgage Loans as is necessary for such Owner Seller to prepare appropriately code its federal income tax return as any Owner or servicing system in accordance with the Master Servicer may reasonably request from time to timePMI Insurer’s requirements.
Appears in 1 contract
Samples: Servicing Agreement (Sail 2006-2)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutionaccordance with requirements. Upon reasonable advance noticeNot later than the seventeenth day of each month, the Servicer shall provide furnish to the Master Servicer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, a bankbut on or before the sixteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Trustee under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp 2006-S1)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the Servicer, whose agreement shall not be unreasonably withheld. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitutionaccordance with requirements. Upon reasonable advance noticeNot later than the seventeenth day of each month, the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the seventeenth day of the month preceding the month of such reporting date, a bankbut on or before the sixteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2006-4)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each month, the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect Seller on behalf of the Trust Fund; provided, however, notwithstanding anything to any month the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for the preparation of the Trust Fund’s federal income tax return. Such obligation of the Servicer shall be deemed to permit have been satisfied to the Owner extent that substantially comparable information shall be provided by the Servicer to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in Master Servicer, the Mortgage Loans Trustee and the Owner's internal and third-party audit requirementsNIMS Insurer pursuant to any requirements of the Code as from time to time are in force. The Servicer shall prepare also provide such information reasonably available to it as may be requested by the Trustee and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file any and all tax returns, information statements each Schedule Q (or other filings applicable tax report or return) required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law filed by it. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2003, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4)
Statements to Master Servicer. (a) Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and, if required, the NIMS Insurer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with (which remittance advice shall include Principal Prepayments in full applied to the related Mortgage Loan on or after the fifteenth day of the month preceding the month of such reporting date, but on or before the last day of the month preceding the month of such reporting date), a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and a monthly loan loss report in the format set forth in Exhibit D-3 (or in such other format mutually agreed to between the Servicer and the Master Servicer) hereto and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer, if required, and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, the NIMS Insurer, if required, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. Not later than the sixteenth day of each month (or, if such sixteenth day is not a Business Day, the immediately succeeding Business Day; provided that are not then subject to a Reconstitution. Upon reasonable advance noticein no event may such reporting be delivered after the eighteenth day of each month), the Servicer shall provide furnish to the Master Servicer and the NIMS Insurer (a) a monthly payoff remittance advice regarding any Owner that is a savings and loan associationPrincipal Prepayments in full applied to the related Mortgage Loan on or after the first day of the month of such reporting date, a bankbut on or before the fourteenth day of the month of such reporting date, an insurance company or other regulated or supervised entity reports and access to containing such information and documentation regarding in such format as is mutually acceptable to the Mortgage Loans Master Servicer and the transactions contemplated hereby Servicer, and in any event containing sufficient information to permit the Owner Master Servicer to comply with properly report Principal Prepayment in full information to the applicable regulations of relevant regulatory or supervisory authorities with respect Securities Administrator under the Trust Agreement and (b) all such information required pursuant to its investment clause (a) above in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returnselectronic format, information statements on magnetic tape or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect similar media reasonably acceptable to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner to prepare its federal income tax return as any Owner or the Master Servicer may reasonably request from time to timeServicer.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Sail 2006-Bnc2)
Statements to Master Servicer. Not later than the Reporting Date thirteenth calendar day of each monthmonth (or if such thirteenth calendar day is not a Business Day, the next succeeding Business Day), the Servicer shall furnish to the Master Servicer (a) a monthly remittance advice, with a trial balance report attached thereto, advice containing such information in the form of Exhibit D-1 annexed hereto, together with a delinquency report in FNMA form 2010 or such other form as shall be required by the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable FNMA Guides or by the Master Servicer as to the parties as to accompanying remittance and the period ending on the Record preceding Determination Date in and (b) all such information required pursuant to clause (a) above on a magnetic tape or other similar media reasonably acceptable to the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with include on a supplemental report provided to the Master Servicer cumulative and any other party designated by the Master Servicer which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policies, (iiiii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled with respect to those Mortgage Loans covered by the loan-level primary mortgage insurance policies provided by PMI Mortgage Insurance Co. or any PMI Policy other provider of primary mortgage insurance purchased by the OwnerTrust (collectively, the "PMI Policies"). With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, commencing December 31, 2000, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating furnish to Reconstituted each Person who was an owner of the Mortgage Loans and one relating at any time during such calendar year as required by applicable law or if not required by applicable law, at the request of such owner as to all Mortgage Loans that are not then subject to a Reconstitutionthe aggregate of remittances for the applicable portion of such year. Upon reasonable advance notice, Such obligation of the Servicer shall provide be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any Owner that is a savings and loan associationrequirements of the Internal Revenue Code as from time to time are in force. Beginning with calendar year 2001, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings for the portion of the tax year 2000 and the portion of subsequent tax years for which the Servicer has serviced some or all of the Mortgage Loans hereunder as such returns, information statements or other filings are required to be delivered to any governmental taxing authority or to any Owner the Master Servicer pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund's federal income tax return as any Owner or the Master Servicer may reasonably request from time to time.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp Mo Pa Th Ce Se 2000-Bc1)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth (or if such 10th calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed hereto, hereto (or in hard copy such other format mutually agreed to between the Servicer and electronic medium mutually acceptable to the parties as Master Servicer) relating to the period ending on the Record Date in last day of the preceding calendar monthmonth and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. The format of this monthly reporting may be amended from time to time to the extent necessary to comply with applicable law and/or the terms of the Trust Agreement. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period calendar month (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by Seller on behalf of the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from Seller to appropriately code its servicing system in two accordance with the PMI Insurer’s requirements. Such monthly remittance advice shall also be accompanied by a supplemental report provided to the Master Servicer, and the Seller which includes on an aggregate basis for the previous calendar month (2i) separate reportsthe amount of claims filed on any LPMI Policy, one relating (ii) the amount of any claim payments made on any LPMI Policy, (iii) the amount of claims denied or curtailed on any LPMI Policy and (iv) policies cancelled with respect to Reconstituted those Mortgage Loans and one relating to all Mortgage Loans that are covered by any LPMI Policy purchased by the Seller on behalf of the Trust Fund. In addition, at the Master Servicer’s request, not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2005, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with Servicer, such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide to the Trustee such information as may be requested by it and required for the completion of any tax reporting responsibility of the Trustee within such reasonable time frame as shall enable the Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day (or if such tenth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer (i) a monthly remittance advice in the format set forth in Exhibit D hereto (or in such other format mutually agreed between the Servicer and the Master Servicer) relating to the period ending on the last day of each monththe preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been Issuer, subject to the lien of the Indenture Trustee; provided, however, notwithstanding anything to the contrary contained in a ReconstitutionPMI Policy, the Servicer shall not be required to submit all any supplemental reports including the foregoing data with respect to any such PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information required hereunder from the Seller to appropriately code its servicing system in two (2) separate reportsaccordance with such requirements. In addition, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance noticemore than 60 days after the end of each calendar year, commencing December 31, 2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Indenture Trustee to prepare its the Issuer’s federal income tax return as and for any Owner or investor in the Securities to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the Indenture Trustee pursuant to any requirements of the Code as from time to timetime are in force. The Servicer shall also provide such information reasonably available to it as may be requested by the Indenture Trustee and required for the completion of any tax reporting responsibility of the Indenture Trustee within such reasonable time frame as shall enable the Indenture Trustee to timely file each Schedule Q (or other applicable tax report or return) required to be filed by it.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)
Statements to Master Servicer. Not later than the Reporting Date tenth (10th) calendar day of each monthmonth the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer Servicer, the Securities Administrator and the NIMS Insurer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the Securities Administrator, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2003, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings and loan associationthe Servicer) to the Master Servicer, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans Securities Administrator and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and the Master Servicer with NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Securities Administrator to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request Servicer, the Securities Administrator and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth at Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as to D hereto for the period ending on the Record Date in last day of the preceding calendar monthmonth and (b) all such information required pursuant to clause (a) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. Such monthly remittance advice shall also be provided by the Servicer to Aurora Loan Services Inc. on behalf of each Seller (with respect to its related Mortgage Loans). 32 Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer each Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy or any other provider of primary mortgage insurance purchased by the OwnerTrust Fund. With respect The Master Servicer will convert such data into a format acceptable to any month the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in which the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a ReconstitutionPMI Policy, the Servicer shall not be required to submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject any supplemental reports including the foregoing data with respect to a ReconstitutionPMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from each Seller (with respect to its related Mortgage Loans) to appropriately code its servicing system in accordance with requirements. Upon reasonable advance noticeIn addition, not more than 60 days after the end of each calendar year, commencing December 31, 2001, the Servicer shall provide (as such information becomes reasonably available to any Owner that is a savings the Servicer) to the Master Servicer and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to the NIMS Insurer such information and documentation regarding concerning the Mortgage Loans and annual remittances to the transactions contemplated hereby sufficient Master Servicer therefrom as is necessary for each Certificateholder to permit prepare its federal income tax return. Such obligation of the Owner Servicer shall be deemed to comply with have been satisfied to the applicable regulations of relevant regulatory or supervisory authorities with respect extent that substantially comparable information shall be provided by the Servicer to its investment in the Mortgage Loans Master Servicer and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner NIMS Insurer pursuant to any applicable law requirements of the Code as from time to time are in force. Beginning with respect to the Mortgage Loans and the transactions contemplated hereby. In additioncalendar year 2002, the Servicer shall provide each Owner and the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund's federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Ass Sec Cor a R Col Tr MRT Ps THR CRT Ser 01-Bc6)
Statements to Master Servicer. Not Beginning in December 2005, not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to Master Servicer and the period ending on the Record Date in the preceding calendar monthNIMS Insurer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner and calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer and the NIMS Insurer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2005, the Servicer shall provide the Master Servicer and the NIMS Insurer with such information concerning the Mortgage Loans as is necessary for such Owner the Master Servicer to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corporation, 2005 OPT-1)
Statements to Master Servicer. Not later than the Reporting Date fifth (5th) calendar day of each monthmonth (or if such fifth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. month and a report detailing the Servicer’s performance under each category of the performance standards set forth on Exhibit F. Such monthly remittance advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2002, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)
Statements to Master Servicer. Not later than the Reporting Date 10th calendar day of each monthmonth (or if such calendar day is not a Business Day, the immediately succeeding Business Day), the Servicer shall furnish to the Master Servicer (a) a monthly remittance advice, with a trial balance report attached thereto, advice in the form of format set forth in Exhibit D-1 annexed hereto, together with hereto and a delinquency monthly defaulted loan report in the form of format set forth in Exhibit D-2 annexed heretohereto (or upon such other format mutually agreed to between the Servicer and the Master Servicer) and (b) all such information required pursuant to clause (a) above on a magnetic tape, in hard copy and electronic medium mutually mail, or other similar media reasonably acceptable to the parties as to the period ending on the Record Date in the preceding calendar monthMaster Servicer. Such monthly remittance advice shall also be accompanied with a supplemental report provided to the Master Servicer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and LPMI Policiesfiled, (ii) the amount of any claim payments made under PMI Policies and LPMI Policiesmade, (iii) the amount of claims denied or curtailed under PMI Policies and LPMI Policies and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI Policy purchased by the Owner. With respect to any month in which Seller on behalf of the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitution, the Servicer shall submit all information required hereunder in two (2) separate reports, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect to the Mortgage Loans and the transactions contemplated herebyTrust Fund. In addition, the Servicer shall include in such monthly remittance advice any change in the Servicing Fee Rate for the related Due Period with respect to the Stepped Servicing Fee Mortgage Loans. The Master Servicer will convert such data into a format acceptable to the Trustee and provide monthly reports to the Trustee pursuant to the Trust Agreement; provided, however, notwithstanding anything to the contrary contained in a PMI Policy, the Servicer shall not be required to submit any supplemental reports including the foregoing data with respect to a PMI Policy until a reporting date that is at least 15 days after the Servicer has received sufficient loan level information from the Seller to appropriately code its servicing system in accordance with the PMI Insurer’s requirements. In addition, not more than 60 days after the end of each Owner calendar year, commencing December 31, 2005, the Servicer shall provide (as such information becomes reasonably available to the Servicer) to the Master Servicer such information concerning the Mortgage Loans and annual remittances to the Master Servicer therefrom as is necessary for each Certificateholder to prepare its federal income tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer pursuant to any requirements of the Code as from time to time are in force. Beginning with calendar year 2005, the Servicer shall provide the Master Servicer with such information concerning the Mortgage Loans as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Master Servicer may reasonably request from time Certificates to timeprepare any required tax return.
Appears in 1 contract
Samples: Servicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel1)
Statements to Master Servicer. Not later than the Reporting Date fifth (5th) calendar day of each monthmonth (or if such fifth calendar day is not a Business Day, the immediately preceding Business Day), the Servicer shall furnish to the Master Servicer and the NIMS Insurer (i) a monthly remittance advice (a “Monthly Remittance Advice”) in the format set forth in Exhibit D-1 hereto and a monthly defaulted loan report in the format set forth in Exhibit D-2 hereto (or in such other format mutually agreed to between the Servicer and the Master Servicer) relating to the period ending on the last day of the preceding calendar month and (ii) all such information required pursuant to clause (i) above on a magnetic tape or other similar media reasonably acceptable to the Master Servicer and the NIMS Insurer. Together with such monthly remittance advice, the Servicer shall furnish to the Master Servicer a monthly remittance advice, with report setting forth a trial balance report attached thereto, calculation of each of the Trigger Events set forth in the form of Exhibit D-1 annexed hereto, together with a delinquency report in the form of Exhibit D-2 annexed hereto, in hard copy and electronic medium mutually acceptable to the parties as Section 8.03 relating to the period ending on the Record Date in last day of the preceding calendar month. month and a report detailing the Servicer’s performance under each category of the performance standards set forth on Exhibit F. Such monthly remittance advice Monthly Remittance Advice shall also be accompanied with by a supplemental report provided to the Master Servicer Servicer, the NIMS Insurer and any other party designated by the Master Servicer Seller which includes on an aggregate basis for the previous Due Period (i) the amount of claims filed under PMI Policies and on any LPMI PoliciesPolicy, (ii) the amount of any claim payments made under PMI Policies and on any LPMI PoliciesPolicy, (iii) the amount of claims denied or curtailed under PMI Policies and on any LPMI Policies Policy and (iv) PMI Policies canceled policies cancelled with respect to those Mortgage Loans covered by any PMI LPMI Policy purchased by the OwnerSeller on behalf of the Trust Fund. With respect to any month in which In addition, not more than 60 days after the Servicer is servicing both Reconstituted Mortgage Loans and Mortgage Loans that have not been subject to a Reconstitutionend of each calendar year, the Servicer shall submit all information required hereunder in two (2) separate reportscommencing December 31, one relating to Reconstituted Mortgage Loans and one relating to all Mortgage Loans that are not then subject to a Reconstitution. Upon reasonable advance notice2003, the Servicer shall provide to any Owner that is a savings and loan association, a bank, an insurance company or other regulated or supervised entity reports and access to (as such information and documentation regarding the Mortgage Loans and the transactions contemplated hereby sufficient to permit the Owner to comply with the applicable regulations of relevant regulatory or supervisory authorities with respect to its investment in the Mortgage Loans and the Owner's internal and third-party audit requirements. The Servicer shall prepare and file any and all tax returns, information statements or other filings required to be delivered to any governmental taxing authority or to any Owner pursuant to any applicable law with respect becomes reasonably available to the Mortgage Loans and the transactions contemplated hereby. In addition, the Servicer shall provide each Owner and Servicer) to the Master Servicer with and the NIMS Insurer such information concerning the Mortgage Loans and annual remittances to the Master Servicer relating thereto as is necessary for such Owner the Trustee to prepare its the Trust Fund’s federal income tax return as and for any Owner or investor in the Certificates to prepare any required tax return. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Master Servicer may reasonably request and the NIMS Insurer pursuant to any requirements of the Code as from time to timetime are in force.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10)