Common use of Transfer Notices Clause in Contracts

Transfer Notices. (a) No later than fifteen (15) calendar days prior to the Transfer Date, Seller shall mail, or shall cause to be mailed, to each Mortgagor a notification letter, in a form reasonably satisfactory to Purchaser, advising the Mortgagor of (i) the transfer of Servicing to Purchaser, (ii) Seller's tax reporting responsibilities, and (iii) the effect of the transfer of Servicing on Optional Insurance. The expense of the preparation, printing and mailing of such notification letter shall be borne by Seller or Seller's agent. In addition, the mailing and content of such letter shall comply with all applicable state and federal laws or regulations. (b) No later than fifteen (15) calendar days prior to the Transfer Date, Seller shall, at Seller's expense and in a form reasonably satisfactory to Purchaser, (i) notify all relevant MI companies by electronic transmission, that all insurance premium xxxxxxxx for the Mortgage Loans must thereafter be sent to Purchaser and (ii) transmit to the applicable flood and hazard insurance companies and/or agents (1) notification of the assignment of the Servicing to Purchaser, (2) change endorsement requests with standard mortgagee clause endorsed in favor of "CitiMortgage, Inc., its successors and/or assigns," and (3) instructions to deliver all notices and insurance statements, as the case may be, to Purchaser or Purchaser's agent from and after the Transfer Date. (c) No later than fifteen (15) calendar days prior to the date a notice referenced in this Section 7.04 is required to be sent, Seller or Seller's agent, as the case may be, shall provide Purchaser with a draft of such notice for approval.

Transfer Notices. (a) No later than fifteen (15) calendar days prior to the Transfer Date, Seller Purchaser shall mail, or shall cause to be mailed, to each Mortgagor a joint notification letter, in a form reasonably satisfactory to PurchaserSeller, advising the Mortgagor of (i) the transfer of Servicing to Purchaser, (ii) Seller's ’s tax reporting responsibilities, and (iii) the effect of the transfer of Servicing on Optional Insurance. The expense of the preparation, printing and mailing of such notification joint letter shall be borne shared equally by Seller or Purchaser and Seller's agent. In addition, the mailing and content of such letter shall comply with all applicable state and federal laws or regulationsregulations and applicable Agency requirements. (b) No later than fifteen thirty (1530) calendar days prior to the Transfer Date, Seller shall, at Seller's expense ’s expense, and in a form reasonably satisfactory to Purchaser, (i) notify all relevant MI companies by electronic transmission, that all insurance premium xxxxxxxx for the Mortgage Loans must thereafter be sent to Purchaser and (ii) transmit to the applicable flood and hazard insurance companies and/or agents (1) notification of the assignment of the Servicing to Purchaser, (2) change endorsement requests with standard mortgagee clause endorsed in favor of "“CitiMortgage, Inc., its successors and/or assigns," ” and (3) instructions to deliver all notices and insurance statements, as the case may be, to Purchaser or Purchaser's ’s agent from and after the Transfer Date. (c) No later than fifteen thirty (1530) calendar days prior to the date a notice referenced in this Section 7.04 is required to be sent, Seller or Seller's agent, as the case may be, shall provide Purchaser with a draft of such notice for approval.