Examples of Excess Servicing Fees in a sentence
Certain Tax Aspects of Participation Interests in Excess Servicing Fees In connection with the Proposed Acquisition, Hunton & Williams LLP will be delivering an opinion to us to the effect that the participation interests in excess servicing fees that will be transferred by Seller and acquired by Arbor Realty SR, Inc.
Seller is entitled to receive Servicing Fees, Ancillary Income and Prepayment Interest Excess as servicer under each Servicing Agreement, and the New York Uniform Commercial Code permits the Seller to transfer the Excess Servicing Fees to HLSS and the remainder of the Rights to MSRs to Holdings under the Agreement and this Sales Supplement without violation of any applicable Servicing Agreement.
Based on the foregoing, and upon the execution of the Subordination of Interest Agreement and the BoA Acknowledgment Agreement, the Servicer wishes to transfer to the Certificateholder a Participation Interest in the Excess Servicing Fees that are derived from Servicing Rights listed on Schedule I to the Purchase Offer dated the date hereof.
The Servicer will be entitled to retain the Retained Servicing Fee and all ancillary fees with respect to the Agency Agreement, but will not be entitled to retain any Excess Servicing Fees as to which a Participation Interest has been assigned to the Certificateholder pursuant to this Agreement.
As owner of such Participation Interest, the Certificateholder would be entitled to a portion of the Gross Servicing Fees to which the Servicer will be entitled in connection with the related Investment Pools equal to part or all of the Excess Servicing Fees (collectively, the “Excess Servicing Fee Receivables”).