Escrow Advances definition
Examples of Escrow Advances in a sentence
Corporate Advances Recovered at Termination The amount of the Total Corporate Advance balance recovered at termination Escrow Advances Recovered at Termination The amount of the Total Escrow Advance balance recovered at termination Commission The broker commission amount on liquidation Seller Concession The dollar amt of seller concessions upon liquidation.
Escrow Advances at Termination Escrow advance balance at time of liquidation.
For Loan-Level Receivables, the Servicer shall institute and implement a policy of reimbursing Escrow Advances and Corporate Advances before P&I Advances upon liquidation of the related Mortgage Loan, under each related Designated Servicing Agreement to the extent permitted by the related Designated Servicing Agreement.
If Receivables attributable to P&I Advances or Deferred Servicing Fees are Loan-Level Receivables under a Designated Servicing Agreement but Corporate Advances and Escrow Advances are not, the Servicer shall effect reimbursement for Loan-Level Receivables before Receivables that are not Loan-Level Receivables to the extent permitted by the related Designated Servicing Agreement.
Eligible Advances must have been actually incurred by the Servicer, and T&I Escrow Advances and Corporate Servicing Advances must fall under one of the 571 Codes in the ▇▇▇▇▇▇ ▇▇▇ 571 Claims Guide.
Number Termination Escrow Advances at Termination T Escrow advance balance at time of liquidation.
Number Corporate Advances Recovered at Termination The amount of the Total Corporate Advance balance recovered at termination Number Escrow Advances Recovered at Termination The amount of the Total Escrow Advance balance recovered at termination Number Commission The broker commission amount on liquidation Number Seller Concession The dollar amt of seller concessions upon liquidation.
At any time ▇▇▇▇▇▇ ▇▇▇ may notify the Servicer of any material discrepancy between the P&I Delinquency Advances, T&I Escrow Advances or Corporate Servicing Advances as previously reported by the Servicer and the amounts reflected in ▇▇▇▇▇▇ Mae’s internal systems of record.
Applicable to each reimbursement of T&I Escrow Advances and Corporate Servicing Advances made by ▇▇▇▇▇▇ Mae herein, Servicer shall pay ▇▇▇▇▇▇ ▇▇▇ a fee equal to the greater of 1) $1,000, or 2) the Compensation Rate divided by twenty-four (24), multiplied by the T&I Escrow Advance and Corporate Servicing Advances reimbursed by ▇▇▇▇▇▇ Mae.
Eligible Advances shall also include any outstanding P&I Delinquency Advances, T&I Escrow Advances and Corporate Servicing Advances previously paid or reimbursed by Servicer and identified on Schedule 2 in connection with a servicing transfer to the Servicer.