Direct Servicer definition

Direct Servicer. A Person obligated to service any Mortgage Loan or Pool pursuant to a Servicing Contract, which may include an independent contractor of the Master Servicer or of Xxxxxx Mae (acting individually or in its capacity as Master Servicer).
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Examples of Direct Servicer in a sentence

  • The Master Servicer will have no liability to any Holder other than for direct damages (i) resulting from its failure or the failure of a Direct Servicer to service in accordance with Accepted Servicing Practices, or (ii) due to a Servicing Event of Default.

  • If a defaulted Mortgage Loan is covered by Mortgage Insurance, the Direct Servicer will assign the Mortgage Loan or the related REO Property to the insurer, guarantor or other third-party provider of the Mortgage Insurance, if such Person so requires, within the time required to obtain the benefits of the Mortgage Insurance.

  • It has a host of big and small competitors that are a who’s who of the technology sector.

  • The Direct Servicer and the Custodian will provide the Master Servicer, the Trustee, the Issuer and the Guarantor with access, without charge, to the Mortgage Documents, any other records and documentation regarding the Mortgage Loans, and all accounts, insurance policies and other matters relating to the Mortgage Loans and the Trusts.

  • Our principal executive officer and principal financial and accounting officer has concluded based upon the evaluation described above that, as of December 31, 2020, our disclosure controls and procedures were effective at the reasonable assurance level.

  • For each Mortgage Loan that is secured by a first lien, the Direct Servicer will cause hazard insurance, if available and not unreasonably expensive in keeping with Accepted Servicing Practices, to be maintained on the related Mortgaged Property in an amount consistent with the related Mortgage Documents, unless such insurance is not required under either the related Mortgage Documents or the related Servicing Contract for that Mortgage Loan when it is transferred to the Trust.

  • Each Direct Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects.

  • The Trustee’s standard of care is as described in Section 10.1. In ascertaining whether a Mortgage Loan is to be purchased from a Pool as described in Section 2.5, none of the Master Servicer, the applicable Direct Servicer, the Guarantor or the Trustee will be liable for taking into consideration the costs of the Master Servicer, the related Direct Servicer, the Trustee or the Guarantor or the Guarantor’s possible exposure under the Guaranty.

  • In its agreement with any replacement Direct Servicer, the Master Servicer may vary the allocation of the Spread for related Mortgage Loans among the Servicing Fee, Excess Spread, LPMI Charges and (but only with the consent of the Guarantor unless a Guarantor Event of Default has occurred and has not been cured) the Guaranty Fee.

  • With respect to each Direct Servicer, and unless expressly stated otherwise, the provisions of the Trust Documents will be interpreted as referring only to the Mortgage Loans serviced by that Direct Servicer.

Related to Direct Servicer

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Interim Servicer The servicer under the Interim Servicing Agreement, or its successor in interest, or any successor to the Interim Servicer under the Interim Servicing Agreement, as therein provided.

  • Primary Servicer Prudential Asset Resources, Inc., or any successor thereto (as primary servicer) appointed as provided in the Primary Servicing Agreement.

  • Special Servicer means the special servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization Servicing Agreement.

  • The Master Servicer has fully furnished and shall continue to fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and Trans Union Credit Information Company or their successors on a monthly basis; and

  • Additional Servicer Each affiliate of each Servicer that services any of the Mortgage Loans and each Person who is not an affiliate of the any Servicer, who services 10% or more of the Mortgage Loans. For clarification purposes, the Master Servicer and the Securities Administrator are Additional Servicers.

  • Countrywide Servicing Countrywide Home Loans Servicing LP, a Texas limited partnership and its successors and assigns.

  • Lead Servicer means the master servicer designated under the Note A-1 PSA.

  • Non-Lead Servicer means any Non-Lead Master Servicer or Non-Lead Special Servicer, as the context may require.

  • Third Party Servicer means any servicer appointed from time to time by the Assuming Institution or any Affiliate of the Assuming Institution to service the Shared-Loss Loans on behalf of the Assuming Institution, the identity of which shall be given to the Receiver prior to or concurrent with the appointment thereof.

  • Successor Servicer means any entity appointed as a successor to the Servicer pursuant to Section 8.02.

  • Reporting Servicer As defined in Section 11.13.

  • Replacement Servicer has the meaning assigned to that term in Section 6.01(c).