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, 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.

Examples of Eligible Servicing Portfolio in a sentence

• 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.

• 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.

• 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.

• Permit Borrower's Servicing Delinquencies and Foreclosures, 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.

• If an Acknowledgement Agreement from GNMA becomes generally available in a form that the Administrative Agent determines is acceptable, use its best efforts to obtain and deliver such applicable Acknowledgement Agreements from GNMA relating to the Mortgage Loans serviced on behalf of GNMA included in the Eligible Servicing Portfolio as the Administrative Agent may from time to time request.

More Definitions of Eligible Servicing Portfolio

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 PWF's and PWF Subsidiaries' portfolio of Servicing Rights, other than with respect to Other Mortgage Loans.

Eligible Servicing Portfolio is defined in Schedule 4.1.

Eligible Servicing Portfolio means, on any day, all Serviced

Eligible Servicing Portfolio means, as of any date of determination, the principal balance of all FHA, Xxxxxx Mae and Xxxxxxx Mac Mortgage Loans serviced by Borrowers under Servicing Contracts minus the principal balance of any of those Mortgage Loans that are (a) past due for principal or interest for 60 days or more, (b) the subject of bankruptcy or foreclosure proceedings, (c) converted into real estate owned, and (d) covered by Servicing Contracts pledged by Borrowers or not owned by Borrowers.

Eligible Servicing Portfolio means the outstanding principal balance of all Mortgage Loans which the Borrowers are servicing under Servicing Agreements to which a Borrower is a party but excluding the outstanding principal balance of Mortgage Loans being serviced as of such date (a) which are Defaulted Mortgage Loans or where the mortgagor is a debtor in a proceeding under any chapter of the United States Bankruptcy Code or the mortgaged property is in foreclosure, (b) under Subservicing Agreement or delegated servicing basis, or (c) which Servicing Agreements are not owned by a Borrower free and clear of all Liens (other than in favor of a lender under Warehousing Debt).

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.