Direct Servicer definition

Direct ServicerA 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).
Direct ServicerA Person (who may be an independent contractor of the Master

Examples of Direct Servicer in a sentence

  • Each Servicing Contract will require the Direct Servicer to make these records available to the Issuer, the Master Servicer, the Guarantor and the Trustee at all times.

  • The Direct Servicer may waive other ancillary service charges if permitted by the Servicing Contract.

  • 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.

  • Amounts held by a Direct Servicer in a Custodial Account are also subject to any additional limitations under the Servicing Contract, including the Direct Servicer’s responsibility for any fees or penalties for withdrawals.

  • If the Master Servicer collects a payment from a successor Direct Servicer in connection with the appointment of the successor Direct Servicer, the Master Servicer is entitled to keep the payment.

  • 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.

  • If a Direct Servicer is terminated or resigns before a replacement Direct Servicer can be engaged, the Master Servicer may engage (or act as) an interim servicer to perform such services.

  • On or before the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer or the Trustee will transfer or cause to be transferred for deposit to a Certificate Account (directly or through a clearing account as provided in Subsection 7.2(3)) certain funds deposited to one or more Custodial Accounts by a Direct Servicer or Subservicer for each Mortgage Loan that is serviced by that Direct Servicer or Subservicer.

  • Subject to Subsection 5.4(2), the Master Servicer or Trustee may permit a Direct Servicer or Custodian (without regard to whether such Person is also the Seller of a Mortgage Loan or its affiliate) to hold Mortgage Documents in a custodial capacity.

  • Except as otherwise expressly provided in the Trust Documents, the Trustee will not be liable for the use or application by the Master Servicer or any Direct Servicer of any funds paid to the Master Servicer or any Direct Servicer in respect of the Mortgage Loans, or deposited to, or withdrawn from, any Custodial Account, or the calculation of the amount transferred to any Certificate Account by the Master Servicer or by any Direct Servicer or transferred to the Paying Agent.

Related to Direct Servicer

  • Other Servicer The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.

  • Outside Servicer With respect to an Outside Serviced Mortgage Loan, the master servicer under the applicable Outside Servicing Agreement.

  • 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 applicable special servicer with respect to the Mortgage Loan appointed 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

  • Other Master Servicer means the applicable other “master servicer” under an Other Companion Loan Pooling and Servicing Agreement relating to a Non-Serviced Companion Loan or a Serviced Companion Loan, as applicable.

  • 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.

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

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

  • The Servicer s resignation pursuant to Section 7.5 or upon the Servicer's receipt of notice of termination as Servicer pursuant to Section 8.1(a), the Indenture Trustee (or an Affiliate of the Indenture Trustee that is an Eligible Servicer appointed by the Indenture Trustee) shall be the successor in all respects to the Servicer in its capacity as Servicer under this Agreement (provided that neither the Indenture Trustee nor any other successor Servicer shall have any obligation, but may elect, to make available to an Obligor any refinancing of a Last Scheduled Payment in the manner specified in the last sentence of Section 3.2(e) hereof), and shall be subject to all the responsibilities, duties and liabilities relating thereto placed on the Servicer by the terms and provisions of this Agreement. As compensation therefor, the Indenture Trustee shall be entitled to such compensation (whether payable out of the Collection Account or otherwise) as the Servicer would have been entitled to under this Agreement if no such notice of termination or resignation had been given, except that all collections shall be deposited in the Collection Account within two Business Days of receipt and shall not be retained by the Servicer. Notwithstanding the above, the Indenture Trustee may, if it shall be unwilling so to act, or shall, if it is legally unable so to act, appoint, or petition a court of competent jurisdiction to appoint, an Eligible Servicer as the successor to the terminated Servicer under this Agreement. In connection with such appointment, the Indenture Trustee may make such arrangements for the compensation of such successor Servicer out of payments on Receivables as it and such successor shall agree, which, in no event, shall be greater than that payable to MMCA as Servicer hereunder. The Indenture Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession including, but not limited to, making arrangements in respect of the last sentence of Section 3.2(e) of this Agreement. The Indenture Trustee shall not be relieved of its duties as successor Servicer under this Section 8.2 until a newly appointed Servicer shall have assumed the responsibilities and obligations of the terminated Servicer under this Agreement.

  • Supervisory Servicer means Xxx Xxxxxx Investment Advisory Corp. and its successors in interest, or any successor portfolio supervisor appointed as hereinafter provided.

  • Other Special Servicer The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • 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 has the meaning specified in Section 3.07(e) of the Indenture.

  • Mortgage Loan Seller Sub-Servicer A Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed on Exhibit S to this Agreement, or any successor thereto.

  • Reporting Servicer As defined in Section 11.13.

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