Option One Servicing Fee definition

Option One Servicing Fee. With respect to each Due Period and any Mortgage Loan, an amount equal to the sum of (a) one-twelfth the product of (i) the Option One Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The Option One Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds to the extent permitted by Section 3.04 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. Option One Servicing Fee Rate: 0.23% per annum. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
Sample 1Sample 2Sample 3
Option One Servicing Fee. With respect to each Due Period and any Mortgage Loan, an amount equal to the sum of (a) one-twelfth the product of (i) the Option One Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The Option One Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds to the extent permitted by Section 3.04 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement.
Sample 1Sample 2Sample 3
Option One Servicing Fee. With respect to each Due Period and any Serviced Mortgage Loan, an amount equal to the sum of (a) one-twelfth the product of (i) the Option One Servicing Fee Rate and (ii) the outstanding principal balance of such Serviced Mortgage Loan as of the related Determination Date. The obligation of the Trustee to pay the Option One Servicing Fee is limited to, and the Option One Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds to the extent permitted by Section 3.02 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. Option One Servicing Fee Rate: 0.40% per annum.
Sample 1Sample 2

Examples of Option One Servicing Fee in a sentence

  • The portion of the recovery so allocated to any unpaid Option One Servicing Fee shall be reimbursed to the Servicer or any Sub-Servicer pursuant to Section 3.04.

  • As consideration for servicing the Mortgage Loans subject to this Agreement, the Servicer shall retain (a) the Option One Servicing Fee for each Mortgage Loan remaining subject to this Agreement during any month and (b) Ancillary Income.

  • The foregoing requirements for deposit into the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing payments in the nature of (i) late payment charges and insufficient fund charges, (ii) assumption fees, (iii) other Ancillary Income and (iv) the Option One Servicing Fee need not be deposited by the Servicer into the Custodial Account.

  • The Servicer shall be entitled to recover any unpaid Option One Servicing Fee and the Seller shall be entitled to recover the Seller Remittance Amount, to the extent not remitted, out of Insurance Proceeds, Condemnation Proceeds, REO Disposition Proceeds or Liquidation Proceeds to the extent permitted in Section 3.04 and out of amounts derived from the operation and sale of an REO Property to the extent permitted by Section 3.12.

  • The obligation of the Trust Fund to pay the Option One Servicing Fee is limited as provided in Section 3.04(iii).

  • In addition, the Seller Remittance Amount shall be used to pay the Prepayment Interest Shortfall Amount to the extent not covered by the Option One Servicing Fee.

  • To the extent that the Prepayment Interest Shortfall Amount exceeds the Option One Servicing Fee, each Seller (with respect to its related Mortgage Loans) agrees to subordinate the Seller Remittance Amount to cover such shortfall in any Compensating Interest Payment.

  • The obligation of the Trust Fund to pay the Option One Servicing Fee is limited as provided in Section 3.04(a)(iii).

  • The obligation of the Trustee to pay the Option One Servicing Fee is limited as provided in Section 3.04(a)(iii).

  • The Servicer shall be entitled to recover any unpaid Option One Servicing Fee and each Seller (with respect to its related Mortgage Loans) shall be entitled to recover the Seller Remittance Amount, to the extent not remitted, out of Insurance Proceeds, Condemnation Proceeds, REO Disposition Proceeds or Liquidation Proceeds to the extent permitted in Section 3.04 and out of amounts derived from the operation and sale of an REO Property to the extent permitted by Section 3.12.


More Definitions of Option One Servicing Fee

Option One Servicing Fee. With respect to each Due Period and any Mortgage Loan, an amount equal to the sum of (a) one-twelfth the product of (i) the Option One Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The obligation of the Trustee to pay the Option One Servicing Fee is limited to, and the Option One Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds to the extent permitted by Section 3.04 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. Option One Servicing Fee Rate: 0.40% per annum. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
Sample 1Sample 2Sample 3

Related to Option One Servicing Fee

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • Base Servicing Fee means the fee payable to the Servicer on each Distribution Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Rate multiplied by the Pool Balance as of the close of business on the last day of the immediately preceding Collection Period or, with respect to the first Distribution Date, the Original Pool Balance.

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Excess Servicing Fee Right With respect to each Mortgage Loan (including an REO Mortgage Loan with respect thereto), the right to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be the owner of such Excess Servicing Fee Right.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • General Servicing Fee With respect to each Due Period and any Mortgage Loan, an amount equal to one-twelfth the product of (i) the General Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The General Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds to the extent permitted by Section 3.02 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. General Servicing Fee Rate: 0.50% per annum.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Supplemental Servicing Fee means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).

  • Additional Servicing Fee means, for any Collection Period, if a successor Servicer has been appointed pursuant to Section 8.2 of the Sale and Servicing Agreement, the amount, if any, by which (i) the compensation payable to such successor Servicer for such Collection Period exceeds (ii) the Monthly Servicing Fee for such Collection Period.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Supplemental Servicing Fees means any and all (i) late fees, (ii) extension fees, (iii) non-sufficient funds charges and (iv) any and all other administrative fees or similar charges allowed by applicable law with respect to any Receivable.

  • Series Servicing Fee Percentage means 2.0%.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, ____% per annum.

  • Additional Special Servicing Compensation As defined in Section 3.11(d).