Servicing Contract definition

Servicing Contract means, with respect to any Person, the arrangement, whether or not in writing, under which that Person has the right to service Mortgage Loans.

Servicing Contract means any agreement, whether titled a “servicing agreement,” a “pooling and servicing agreement,” a “sale and servicing agreement,” or otherwise, pursuant to which any Grantor is obligated to perform collection, enforcement or foreclosure services with respect to, or to maintain and remit any funds collected from, persons obligated on any mortgage loan or pool of mortgage loans.

Servicing Contract means each of the Xxxxxx Mae Lender Contract, the Xxxxxxx Mac Servicing Contract, and the Xxxxxx Mae Servicing Contract, as applicable.

Examples of Servicing Contract in a sentence

• Any amounts collected under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property) shall be deposited into the Custodial Account for P&I, subject to withdrawal pursuant to the applicable Selling and Servicing Contract and pursuant to Section 3.03 and Section 3.05.

• Any advance previously made by a Servicer pursuant to its Selling and Servicing Contract with respect to a Mortgage Loan or by the Master Servicer that the Master Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such Mortgage Loan or recoverable as late Monthly Payments with respect to such Mortgage Loan shall be a Nonrecoverable Advance.

• Each Servicer is required to pay all expenses incurred by it in connection with its servicing activities under its Selling and Servicing Contract (including payment of premiums for Primary Insurance Policies, other than Special Primary Insurance Policies, if required) and shall not be entitled to reimbursement therefor except as specifically provided in such Selling and Servicing Contract and not inconsistent with this Agreement.

• Under each Selling and Servicing Contract, the Master Servicer is entitled to receive from the Custodial Accounts for P&I established by the Servicers amounts received by the applicable Servicers on particular Mortgage Loans as late payments of principal and interest or as Liquidation or Insurance Proceeds and respecting which the Master Servicer has made an unreimbursed advance of principal and interest.

• As compensation for its activities under the applicable Selling and Servicing Contract, the applicable Servicer shall be entitled to withhold or withdraw from the related Custodial Account for P&I the amounts provided for in such Selling and Servicing Contract to the extent not inconsistent with this Agreement (including Section 3.05(d)).

More Definitions of Servicing Contract

Servicing Contract a contract or agreement purchased by the ------------------ Company or entered into by the Company for its own account (and not as nominee or subservicer), whether now existing or hereafter purchased or entered into, pursuant to which the Company services Mortgage Loans or Mortgage Loan pools for others.

Servicing Contract a contract or agreement purchased by NCMC or entered into by NCMC for its own account (and not as nominee or subservicer), whether now existing or hereafter purchased or entered into, pursuant to which NCMC services Mortgage Loans or Mortgage Loan pools for Persons other than itself or the other Borrower.

Servicing Contract means an arrangement, whether or not in writing, pursuant to which the Debtor has the right to service Student Loans for other Persons.

Servicing Contract means each agreement between the Borrower and Xxxxxx Xxx, Xxxxxxx Mac, FHA, Xxxxxx Mae or any other holder of Mortgage Loans, pursuant to which the Borrower services Mortgage Loans, in each case as amended and /or restated from time to time.”

Servicing Contract means any servicing contract pursuant to which the Borrower is servicing Mortgage Loans for and on behalf of Freddie Mac in connection with one or more mortgage pools subject to the Agreement, each as amended, supplemented, restated, or otherwise modified from time to time, including by the Freddie Mac Guide and the Xxxxxxx Xxx Xxxxxxxx Documents, as applicable.

Servicing Contract means each direct agreement with the owner of the subject Serviced Loans, as it may be amended from time to time, pursuant to which the Borrower services Serviced Loans.

Servicing Contract. A conxxxxx (including the WMMSC Servicing Guide to the extent incorporated by reference therein) between the WMMSC Master Servicer and a mortgage loan servicing institution relating to the servicing of some or all of the WMMSC Master Serviced Loans for the benefit of the Certificateholders, provided however that such contract is consistent with the servicing provisions of this Agreement.