Accepted Servicing Procedures. Servicing procedures that meet at least the same standards the Servicer would follow in servicing mortgage loans such as the Home Loans held for its own account, giving due consideration to standards of practice of prudent mortgage lenders and loan servicers that originate and service mortgage loans comparable to the Home Loans and the reliance placed by the Securityholders on the Servicer for the servicing of the Home Loans but without regard to:
Accepted Servicing Procedures means that the Master Servicer shall (or shall cause the applicable Sub-Servicer to) manage, service, administer and make collections on the Financed Student Loans with reasonable care, using that degree of skill and attention that the Master Servicer (or such Sub-Servicer) exercises with respect to all comparable student loans that it services but, in any event, in accordance with customary and usual standards of practice of prudent lenders and loan servicers administering similar student loans. The Master Servicer shall (or shall cause the applicable Sub-Servicer to) manage, service, administer and make collections with respect to the Financed Student Loans in accordance with, and otherwise comply with, all applicable Federal and state laws, including all applicable standards, guidelines and requirements of the Higher Education Act (in the case of the Financed Federal Loans) and any applicable Guarantee Agreement (in the case of the Financed Guaranteed Loans). These procedures shall include collection and posting of all payments, responding to inquiries of borrowers on such Financed Student Loans, monitoring borrowers' status, making required disclosures to borrowers, investigating delinquencies, sending payment coupons to borrowers and otherwise establishing repayment terms, reporting tax information to borrowers, if applicable, accounting for collections and furnishing monthly and annual statements with respect thereto to the Administrator (and upon request the Administrator shall provide copies thereof to the Securities Insurer). The Master Servicer shall (or shall cause the applicable Sub-Servicer to) follow its customary standards, policies and procedures in performing its duties as Master Servicer (or Sub-Servicer, as the case may be).
Accepted Servicing Procedures. The servicing procedures set forth in Section 3.01(b)(i).
Examples of Accepted Servicing Procedures in a sentence
Any amounts collected by the Seller under any such policies other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the Mortgaged Property or REO Property, or released to the Mortgagor in accordance with the Accepted Servicing Procedures, shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 11.05.
For the benefit of the Noteholders and the Issuer, the Master Servicer shall (or shall cause the applicable Subservicer to) use reasonable efforts consistent with the Accepted Servicing Procedures in its servicing (or subservicing) of any delinquent Group I or Group II Student Loans.
The Seller shall either itself or through an agent selected by the Seller, manage, conserve, protect and operate each REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, in the same manner that similar property in the same locality as the REO Property is managed and in accordance with Accepted Servicing Procedures.
The servicing and collection practices used by the Master Servicer (or each Subservicer on its behalf) with respect to the Financed Student Loans have been in all respects in compliance with Accepted Servicing Procedures, Section 3.04 and Article IV and all applicable laws and regulations.
More Definitions of Accepted Servicing Procedures
Accepted Servicing Procedures means that the Master Servicer shall (or shall cause the applicable Sub-Servicer to) manage, service, administer and make collections on the Pledged Student Loans in accordance with the Credit and Collection Policies and with reasonable care, using that degree of skill and attention that the Master Servicer (or such Sub-Servicer) exercises with respect to all comparable student loans that it services but, in any event, in accordance with customary and usual standards of practice of prudent lenders and loan servicers administering similar student loans. The Master Servicer shall (or shall cause the applicable Sub-Servicer to) manage, service, administer and make collections with respect to the Pledged Student Loans in accordance with, and otherwise comply with, all applicable federal and state laws, including all applicable standards, guidelines and requirements and any applicable Guarantee Agreement. These procedures shall include collection and posting of all payments, responding to inquiries of borrowers on such Pledged Student Loans, monitoring borrowers’ status, making required disclosures to borrowers, investigating delinquencies, sending billing statements or payment coupons to borrowers and otherwise establishing repayment terms, reporting tax information to borrowers, if applicable, accounting for collections and furnishing monthly and quarterly statements with respect thereto to the Administrative Agent and the Funding Agents. The Master Servicer shall (or shall cause the applicable Sub-Servicer to) follow its customary standards, policies and procedures in performing its duties as Master Servicer (or Sub-Servicer, as the case may be).
Accepted Servicing Procedures means with respect to any Financed Eligible Loan, servicing procedures (including collection procedures) that comply with applicable federal (including but not limited to the Higher Education Act), state and local law and that are in accordance with standards set by the Secretary and the accepted student loan servicing practices of prudent lending institutions that service student loans of the same type in the United States.
Accepted Servicing Procedures. Procedures (including collection procedures) that the Servicer customarily employs and exercises in servicing and administering mortgage loans for its own account that are similar to the Mortgage Loans and which are in accordance with accepted mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as the Mortgage Loans in the jurisdictions where the related Mortgaged Properties are located.
Accepted Servicing Procedures. Servicing procedures that satisfy the following: (a) meet at least the same standards the Servicer would follow in exercising reasonable care in servicing mortgage loans such as the Home Loans held for its own account; (b) comply with applicable state and federal law; (c) comply with the provisions of the related Debt Instruments and Mortgages; and (d) give due consideration to the accepted standards of practice of prudent consumer loan servicers that service mortgage loans comparable to the Home Loans and the reliance placed by the Grantor Trust Holders and Securityholders on the Servicer for the servicing of the Home Loans, but without regard to:
Accepted Servicing Procedures. Servicing procedures that satisfy the following: (a) meet at least the same standards the Servicer would follow in exercising reasonable care in servicing mortgage loans such as the Home Loans held for its own account; (b) comply with applicable state and federal law; (c) comply with the provisions of the related Debt Instruments and Mortgages; and (d) give due consideration to the accepted standards of practice of prudent loan servicers that service sub-prime mortgage loans comparable to the Home Loans, including the terms set forth in the Standard Servicing Terms set forth herein as Exhibit E, and the reliance placed by [the Securities Insurer,] the Master Servicer and Securityholders on the Servicer for the servicing of the Home Loans, but without regard to:
Accepted Servicing Procedures means with respect to any Financed Student Loan serviced by the Servicer, procedures (including collection procedures) that comply with applicable federal, state and local law, that are in accordance with standards set by the Secretary and the accepted student loan servicing practices of prudent lending institutions which service student loans of the same type in the United States.
Accepted Servicing Procedures means with respect to any Student Loan serviced by the Corporation, procedures (including collection procedures) that comply with applicable federal, state and local law, that are in accordance with standards set by the Secretary and the accepted student loan servicing practices of prudent lending institutions which service student loans of the same type in the United States.; provided, however, with respect to Alternative Loans, such loans shall also be serviced in accordance with the PAL Program Manual.