Payoff Earnings definition

Payoff Earnings. For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Payoff Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to a WMMSC Serviced Mortgage Loan, on which a Payoff was received by WMMSC during the related Prepayment Period, the aggregate of the interest earned by WMMSC from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to each Loan on which a Payoff was received by the Servicer during the Prepayment Period, the aggregate of the interest earned by Servicer from investment of each such Payoff from the date of receipt of such Payoff until the last day of such Prepayment Period (net of investment losses).

Examples of Payoff Earnings in a sentence

• Not later than the Business Day prior to the Distribution Date, the Master Servicer shall deposit such funds, net of any gains (except Payoff Earnings) earned thereon, in the Certificate Account.

• The Servicer shall bear any and all losses incurred on any investments made with funds on deposit in the Investment Account and shall be paid all gains realized on such investments (except Payoff Earnings to the extent applied to pay Compensating Interest) as additional servicing compensation.

• The Servicer shall bear any and all losses incurred on any investments made with such funds and shall be paid all gains realized on such investments (except Payoff Earnings to the extent applied to pay Compensating Interest) as additional servicing compensation.

• Not later than the Business Day prior to the Distribution Date, the Servicer shall deposit such funds, net of any gains (except Payoff Earnings to the extent used to pay Compensating Interest) earned thereon, in the Certificate Account.

• The Servicer shall bear any and all losses incurred on any investments made with funds on deposit in the Investment Account and shall be paid all gains realized on such investments (except Payoff Earnings on WMB Loans to the extent applied to pay Compensating Interest) as additional servicing compensation.

More Definitions of Payoff Earnings

Payoff Earnings. For any Distribution Date with respect to each WMB Loan on which a Payoff was received by the Servicer during the Payoff Period, the aggregate of the interest earned by the Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to each Loan on which a Payoff was received by the Servicer during the Payoff Period, the aggregate of the interest earned by Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to a WMMSC Serviced Mortgage Loan, on which Payoff was received by WMMSC during the related Prepayment Period, the aggregate of the interest earned by WMMSC from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses). For any Distribution Date with respect to each other Mortgage Loans, on which a Payoff was received by the Master Servicer during the related Prepayment Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the seventh day preceding the Business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to each WMMSC Serviced Mortgage Loan on which a Payoff was received by the related Principal Prepayment Period, the aggregate of the interest earned by the related Servicer from investment in the Collection Account of such Payoff from the date of receipt of such Payoff until the business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to each Mortgage Loan on which a Payoff was received by the Master Servicer during the Prepayment Period, the aggregate of the interest earned by the Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Master Servicer Remittance Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to a WMMSC Serviced Mortgage Loan, on which a Payoff was received by WMMSC during the related Prepayment Period, the aggregate of the interest earned by WMMSC from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses). For any Distribution Date with respect to each other Mortgage Loans, on which a Payoff was received by the Servicer during the related Prepayment Period, the aggregate of the interest earned by the Servicer from investment of each such Payoff from the date of receipt of such Payoff until the seventh day preceding the Business Day immediately preceding the related Distribution Date (net of investment losses).

Payoff Earnings. For any Distribution Date with respect to each PNC Mortgage Loan or each PHH Mortgage Loan on which a Payoff was received by the related Master Servicer during the Payoff Period, the aggregate of the interest earned by such Master Servicer from investment of each such Payoff from the date of receipt of such Payoff until the Business Day immediately preceding the related Distribution Date (net of investment losses).