Examples of FHLMC Guides in a sentence
In the event of any conflict, inconsistency or discrepancy between any of the servicing provisions of this Agreement and any of the servicing provisions of the FNMA or FHLMC Guides, the provisions of this Agreement shall control and be binding upon the Purchaser and the Seller.
The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA in the FNMA Guides or by FHLMC in the FHLMC Guides.
In connection with any such assumption or substitution of liability, the Seller shall follow the underwriting practices and procedures of the FNMA or FHLMC Guides for “A” quality Mortgage Loans.
All requests for reimbursement of Servicing Advances shall be in accordance with the FNMA or FHLMC Guides.
The Seller shall, either itself or through an agent selected by the Seller, and in accordance with the FNMA or FHLMC Guides manage, conserve, protect and operate each REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed.
It is understood and agreed that no other additional insurance need be required by the Seller or the Mortgagor or maintained on property acquired in respect of the Mortgage Loan, other than pursuant to the FNMA or FHLMC Guides or such applicable state or federal laws and regulations as shall at any time be in force and as shall require such additional insurance.
The Seller shall notify the Purchaser in accordance with the FNMA or FHLMC Guides of each acquisition of REO Property upon such acquisition, together with a copy of the appraisal of the Mortgaged Property obtained in connection with such acquisition, and thereafter assume the responsibility for marketing such REO Property in accordance with Accepted Servicing Practices.
The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the FHLMC Guides.
All escrow balances have been calculated in accordance with the contractual provisions of the Mortgage, or, if more restrictive, in accordance with any applicable GNMA, FNMA or FHLMC Guides.
The Servicer shall withdraw from the Trust Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the FHLMC Guides.