Float Benefit means the net economic benefit resulting from investments of funds representing escrow and custodial deposits held for the account of the servicer or subservicer, or the related Agency relating to the Mortgage Loans.
Float Benefit. All benefit (including interest or earnings) related to the Escrow Accounts (net of amounts due to the related Mortgagors under applicable law) and the Custodial Accounts, as applicable, with respect to the Mortgage Loans.
Float Benefit. The net economic benefit resulting from funds held in the Escrow Accounts and Custodial Accounts relating to the Servicing Rights. The Float Benefit includes any compensating balance earnings credits and interest and other earnings on and in respect of such deposits.
Examples of Float Benefit in a sentence
BANA shall be entitled to all Float Benefit derived from all depository accounts.
Holdings shall be entitled to the Float Benefit, which amounts shall be remitted by the Seller to Holdings as part of Holdings Economics pursuant to Section 2.8(f).
Promptly after the end of each calendar month during the Interim Period, the Float Benefit shall be calculated by the Seller by multiplying the Average Daily Balance by the Average Monthly Float Interest Rate.
Any interest or other Float Benefit paid on funds deposited in the Custodial Account by the depository institution shall accrue to the benefit of the Servicer and the Servicer shall be entitled to retain and withdraw such interest from the Custodial Account pursuant to Section 2.05.
Any Float Benefit with respect to the Subserviced Mortgage Loans shall accrue to the benefit of the Servicer, except as required to be paid to Mortgagors pursuant to Applicable Servicing Requirements.
More Definitions of Float Benefit
Float Benefit. All benefit (including interest or earnings), not due to the applicable Agency or the Mortgagors under the related Agency Guidelines, related to the Escrow Accounts and the Custodial Accounts, as applicable, with respect to the Mortgage Loans during the Interim Servicing Period.
Float Benefit means the net economic benefit resulting from prepayment balances and balances held in the Custodial Accounts and Escrow Accounts to be calculated using the methodology set forth in Exhibit J to this Agreement.
Float Benefit means all benefit, not due to an Agency or the Mortgagors under the related Servicing Agreement, related to the Custodial Accounts, as applicable, with respect to the Mortgage Loans Foreclosure: The procedure pursuant to which a lienholder acquires title to a Mortgaged Property in a foreclosure sale, or a sale under power of sale, or other acquisition of title to the Mortgaged Property based upon a default by the Mortgagor under the Mortgage Loan Documents, under the law of the state wherein the Mortgaged Property is located.
Float Benefit. The net economic benefit resulting from holding Mortgage Escrow Payments and Custodial Funds and all other deposits held relating to the Servicing Rights.
Float Benefit means the net economic benefit resulting from Custodial Accounts, the Depository Accounts, and all other deposits held by BANA as custodian for the account of Client or an Investor relating to the Servicing. The Float Benefit is based on BANA’s selection of the investment facility or interest rate swap or other arrangement offered from time to time by the financial institution holding custodial deposits, including, without limitation, compensating balance earnings credit, lines of credit, interest and other earnings on deposit balances and any other economic consideration realized by Client resulting from control of the custodial deposits. “Foreclosure” means, after a Mortgage Loan has defaulted, the procedure pursuant to which a lien holder acquires title to a Mortgaged Property in a foreclosure sale, or pursuant to any other comparable procedure allowed under Applicable Law. “Xxxxxx Xxx” means the Government National Mortgage Association, a division of HUD or any successor thereto. “Xxxxxx Mae Guide” means the Xxxxxx Xxx Mortgage-Backed Securities Guide and all amendments or additions thereto. “Xxxxxx Mae Pooling Request” means a email request from Client to BANA’s Investor Accounting Group to provide comments to the Pool Data attached to such request in connection with the Client’s preparation of submissions of HMBS pools to Xxxxxx Xxx pursuant to Section 3.09. “GNMA II Custom MBS Program” shall be as defined in the Xxxxxx Mae Guide. “Group 1 Mortgage Loans” means the Mortgage Loans related to the Group 1 Assets. “Group 6 Mortgage Loans” means the Mortgage Loans related to the Group 6 Assets. “Group 8 Mortgage Loans” means the Mortgage Loans related to the Group 8 Assets. “Guaranty Agreement” means the Guaranty Agreement, by and between Nationstar Mortgage LLC, as issuer and Xxxxxx Xxx. “Guaranty Fee” means the monthly guaranty fee that a Xxxxxx Mae issuer is required to pay to Xxxxxx Xxx for each HMBS for which such issuer is the issuer of record. “Home Equity Conversion Mortgage” (or “HECM Loan”) means a reverse mortgage loan under FHA’s Home Equity Conversion Mortgage program administered by the FHA. “HECM Policy” means a mortgage insurance policy administered by the FHA with respect to reverse mortgage loans in accordance with the FHA Regulations and other HUD publications relating to HECM Loans, including, without limitation, related handbooks, circulars, notices and mortgagee letters. “HMBS” means a Xxxxxx Mae security backed by HECM loan particip...
Float Benefit means the net economic benefit resulting from Custodial Accounts, the Depository Accounts, and all other deposits held by BANA as custodian for the account of Client or an Investor relating to the Servicing. The Float Benefit is based on BANA’s selection of the investment facility or interest rate swap or other arrangement offered from time to time by the financial institution holding custodial deposits, including, without limitation, compensating balance earnings credit, lines of credit, interest and other earnings on deposit balances and any other economic consideration realized by Client resulting from control of the custodial deposits.
Float Benefit means the net economic benefit resulting from investments of funds representing escrow and custodial deposits held for the account of Borrower or Subservicer, or the Applicable Agency relating to the Mortgage Loans.