Eligible Servicing Portfolio definition
Eligible Servicing Portfolio on any date of determination, the ---------------------------- aggregate unpaid principal balance of all Mortgage Loans owned by Persons other than the Company that are serviced by the Company pursuant to Eligible Servicing Rights, excluding Servicing Rights that are subject to an executed and delivered agreement to sell the same.
Eligible Servicing Portfolio means the portion of Borrowers' Servicing Portfolio consisting of rights to service Single Family Mortgage Loans; provided, however, not included are the principal balance of Mortgage Loans included in that Servicing Portfolio (a) with respect to which the Person is obligated to repurchase or indemnify the holder of the Mortgage Loans as a result of defaults on the Mortgage Loans at any time during the term of such Mortgage Loans, (b) the Servicing Contracts for which are not owned by the Person free and clear of all Liens (other than in favor of Credit Agent) or (c) that are serviced by Borrowers for others under subservicing arrangements.
Eligible Servicing Portfolio means PWF's and PWF Subsidiaries' portfolio of Servicing Rights, other than with respect to Other Mortgage Loans.
Examples of Eligible Servicing Portfolio in a sentence
The Borrower shall not permit the ratio ("Loan to Value Ratio") obtained by dividing (i) the outstanding principal balance of the Loans by (ii) the Eligible Servicing Portfolio Value, to be greater than eighty percent (80%), tested as of June and December of each year; or, from and after the Termination Date, to be greater than seventy-five percent (75%), tested as of June and December of each year.
Permit Borrowers' Servicing Delinquencies, on a combined basis, at any time to be greater than 6% of the Eligible Servicing Portfolio; for purposes of such calculation, Bond Program Mortgage Loans shall be excluded.
Permit Borrower's outstanding Eligible Servicing Portfolio at any time to be less than $6,500,000,000.
The Obligors agree to neither suffer nor permit the Eligible Servicing Portfolio Balance to be less than Three Billion Five Hundred Million Dollars ($3,500,000,000) at any time.
The Borrowers shall not at any time permit the Eligible Servicing Portfolio to have an outstanding principal balance of less than Seven Billion Dollars ($7,000,000,000).
More Definitions of Eligible Servicing Portfolio
Eligible Servicing Portfolio means, on any day, all Serviced Mortgages excluding those (i) as to which either Obligor is the subservicer, (ii) for which any payment is delinquent for more than ninety (90) days or (iii) for which any maker or mortgagor is the subject of a case in bankruptcy or as to which the first step in foreclosure proceedings has been taken.
Eligible Servicing Portfolio means all Servicing Rights of any of the Borrowers under Servicing Contracts, with respect to which each of the following statements is true and correct:
Eligible Servicing Portfolio means that portion of the Company's or any Subsidiary Guarantor's servicing portfolio consisting of Servicing Contracts as to which each of the following statements is accurate and complete:
Eligible Servicing Portfolio means the aggregate outstanding ---------------------------- principal amount at the time of determination of the Mortgage Loans comprising the Borrower's first priority mortgage deed of trust servicing portfolio exclusive of (a) any servicing of Mortgage Loans owned by the Borrower and (b) any servicing performed pursuant to subservicing arrangements (other than that technically styled as subservicing but performed under a contract directly between the Borrower and FNMA, FHLMC or the master servicer under a private mortgage-related security program).
Eligible Servicing Portfolio. Non-Recourse Servicing Rights (a) for Mortgage Loans which are no more than 90 days delinquent, whether underlying Mortgage-Backed Securities or held as whole loans, (b) in respect of which Acknowledgment Agreements (as applicable thereto pursuant to the definition of Acknowledgment Agreements) are in full force and effect and have been delivered to the Collateral Agent and the Administrative Agent, and (c) in respect of which true and correct copies of the contracts or agreements relating to or from which such Non-Recourse Servicing Rights arise, together with all amendments, modifications and supplements thereto, have been delivered to the Administrative Agent and are in form and substance satisfactory to the Administrative Agent, if such Non-Recourse Servicing rights are for Mortgage Loans other than those serviced for or on behalf of an Agency; PROVIDED that in the case of any Acknowledgement Agreements referred to in clause (b) above in effect immediately prior to the Closing Date that the Administrative Agent determines should be re-executed or confirmed, such Non- Recourse Servicing Rights shall not be deemed to be ineligible solely by virtue of such requirement so long as such re-execution or confirmation is accomplished within 30 days after the Closing Date.
Eligible Servicing Portfolio. As of any date of determination, the Servicing Portfolio of the Borrower but excluding the principal balance of Mortgage Loans included in the Servicing Portfolio (a) with respect to which the Company is obligated to repurchase or indemnify the holder of the Mortgage Loans as a result of defaults on the Mortgage Loans at any time during the term of such Mortgage Loans, (b) for which the Servicing Contracts are not owned by the Company free and clear of Liens (other than Liens in favor of the Agent), (c) which are serviced by the Company for others under subservicing arrangements, or (d) which are serviced for Persons other than Fannie Mae, Freddie Mac, Ginnie Mae or such othe▇ ▇▇▇▇o▇▇ wh▇▇▇ ▇▇▇ accep▇▇▇▇▇ t▇ ▇he Required Lenders in their sole discretion for such purpose.
Eligible Servicing Portfolio means the Company's mortgage/trust ---------------------------- deed servicing portfolio, exclusive of the following: (a) any servicing of Mortgage Loans owned by the Company, (b) any servicing performed pursuant to subservicing arrangements (other than that technically styled as subservicing but performed under a contract directly between the Company and FNMA, FHLMC or the master servicer under a private mortgage-related security program), (c) any servicing of Mortgage Loans which the Company has a direct obligation to repurchase from the applicable investor pursuant to a recourse arrangement, (d) any servicing subject to any Lien (other than the Liens in favor of the "Collateral Agent" for the benefit of the "Lenders" under the Servicing Secured Credit Agreement), (e) any servicing of Mortgage Loans in foreclosure or the payments in respect of which are past due more than sixty (60) days, and (f) any servicing of Mortgage Loans which are not first priority Mortgage Loans and which have an aggregate outstanding principal balance in excess of $350,000,000.00.