Deferred Servicing Fee Receivable definition

Deferred Servicing Fee Receivable. Any Receivable representing the right to receive payment for any Deferred Servicing Fee pursuant to the terms and provisions of a Designated Servicing Agreement.
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Deferred Servicing Fee Receivable is a Receivable representing the right to receive payment for any “Deferred Servicing Fee” (as defined below) pursuant to the terms and provisions of a Designated Servicing Agreement, and (ii) a “Deferred Servicing Fee” is the right to payment for accrued but unpaid servicing fees earned by either (x) on and after any Transfer Date, NRM or Shellpoint, or (y) before any Transfer Date, PMC (or any predecessor servicer) that are accrued and unpaid on the related monthly remittance date following the related due date. The Purchaser hereby acknowledges and agrees (on behalf of itself and its assignees and successors in interest) that it has been paid in respect of the Excess Servicing Fees related to the Deferred Servicing Fee Receivables that have been sold to HLSS or the applicable Depositor, as applicable, on or prior to the date of this disclaimer (this “Side Letter”). Accordingly, and for the avoidance of doubt, the Purchaser acknowledges and agrees (on behalf of itself and its assignees and successors in interest) that the Purchaser has no right, title or interest in any P&I Advances or Deferred Servicing Fee Receivables that have been sold to HLSS or the Depositor, as applicable, on or prior to the date hereof. This Side Letter may not be amended, nor may any provision hereof be waived or modified, except by an instrument in writing signed by each signatory hereto. This Side Letter may be executed in any number of counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Side Letter by facsimile transmission or other electronic means, including but not limited to electronic mail or “.pdf”, shall be effective as delivery of a manually executed counterpart hereof. THIS SIDE LETTER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. Any signatory hereto irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Side Letter or the transactions contemplated hereby or the actions of the parties hereto in the negotiation, performance or enforcement hereof. Executed as of the date first above written: as Purchaser By: New Residential Investment Corp., its sole member Name: Xxxxxxx XxxXxxxxxx Title: Secretary
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Examples of Deferred Servicing Fee Receivable in a sentence

  • Each Deferred Servicing Fee Receivable in existence on any Business Day on and after the Effective Date and until the opening of business on the related MSR Transfer Date and which arises under any Servicing Agreement that is listed as a “Designated Servicing Agreement” on the Designated Servicing Agreement Schedule as of the date such Receivable is created.

  • A Deferred Servicing Fee Receivable in respect of a Non-Judicial Deferred Servicing Fee.

  • Upon deposit into the Spread Account of monthly Servicing Fees that are received from interest advances made by Nationstar, such Servicing Fee is converted into a P&I Advance (which may be accounted for, for administrative convenience for Nationstar, as a Deferred Servicing Fee Receivable and not a P&I Advance in connection with any reporting with any applicable counterparty to any applicable Designated Servicing Agreement).

  • Pursuant to the applicable Designated Servicing Agreement, Nationstar is entitled to reimbursement of such P&I Advance and/or payment of such Deferred Servicing Fee Receivable from subsequent payments on the related Mortgage Loan or, subject to certain exceptions, from payments on other Mortgage Loans.

  • Any Deferred Servicing Fee Receivable in respect of a Judicial Deferred Servicing Fee.

Related to Deferred Servicing Fee Receivable

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Primary Servicing Fee Rate means, with respect to each Mortgage Loan, the rate that corresponds to such Mortgage Loan set forth on Exhibit A hereto under the heading “Primary Servicing Fee.”

  • Master Servicing Fee Rate With respect to each Mortgage Loan, ____% per annum.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • Servicing Fee Rate With respect to each Mortgage Loan, 0.50% per annum.

  • Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis.

  • Base Servicing Fee means the fee payable to the Servicer on each Distribution Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Rate multiplied by the Pool Balance as of the close of business on the last day of the immediately preceding Collection Period or, with respect to the first Distribution Date, the Original Pool Balance.

  • Subservicing Fee Rate The per annum rate designated on the Mortgage Loan Schedule as the "SUBSERV FEE".

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Servicing Fees With respect to each Mortgage Loan and REO Loan, the Master Servicing Fee and the Special Servicing Fee.

  • Net Servicing Fee Rate means (a) so long as the Seller or The Bank of New York is the Servicer, 1.25% per annum and (b) if the Seller or The Bank of New York is no longer the Servicer, 2.0% per annum.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.