Servicing of Loans definition

Servicing of Loans and "The Agreements", as modified by the statements" and in the Prospectus Supplement under the captions "Description of the Notes" and "Administration," to the extent such statements purport to summarize certain provisions of the Notes or of the Agreements, are fair and accurate in all material respects.
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Examples of Servicing of Loans in a sentence

  • Servicing of Loans consists of the administrative aspects of a Loan from the time when funds are dispersed until the loan is paid in full.

  • Servicer shall maintain a copy of all records and reports which related to the Servicing of Loans generally for seven (7) years after any deconversion.

  • The Servicer agrees, in consideration of certain fees, to perform the Services set forth in this Agreement, including the Services set forth on each Schedule and Exhibit hereto, and any additional Services which Lender requests and the Servicer agrees to provide with respect to the Servicing of Loans in accordance with the Servicing Guidelines, for which account information and/or documentation shall be delivered to the Servicer.

  • Servicer shall promptly review Credit Agreement forms that are proposed by Program Administrator and, after mutual resolution of any comments thereon that affect the Servicing of Loans in connection with such forms, accept such forms for purposes of product set-up and conversion.

  • Performance of Obligations; Servicing of Loans -20- Section 3.09.

  • Servicing of Loans covered by this Policy may be sold, transferred or assigned without affecting the coverage hereunder for such Loan, subject, nevertheless, to all of the terms and conditions hereof and to all defenses which the Company may have had prior to any such sale, transfer or assignment, and provided that written notice of the new Servicer is given to the Company and the new Servicer is approved in writing by the Company.

  • Section 3.01 Payment of Principal and Interest 16 Section 3.02 Maintenance of Office or Agency 16 Section 3.03 Money for Note Payments to Be Held in Trust 16 Section 3.04 Existence 17 Section 3.05 Protection of Trust 17 Section 3.06 Opinions as to Trust Estate 18 Section 3.07 Performance of Obligations; Servicing of Loans 18 Section 3.08 Negative Covenants 19 Section 3.09 Statements as to Compliance 20 Section 3.10 Issuer’s Name, Location, etc.

  • Section 3.01 Payment of Principal and Interest 14 Section 3.02 Maintenance of Office or Agency 15 Section 3.03 Money for Note Payments to Be Held in Trust 15 Section 3.04 Existence 15 Section 3.05 Protection of Trust 16 Section 3.06 Opinions as to Trust Estate 16 Section 3.07 Performance of Obligations; Servicing of Loans 17 Section 3.08 Negative Covenants 17 Section 3.09 Statements as to Compliance 18 Section 3.10 Issuer’s Name, Location, etc.

  • The description of the Servicer under the caption "Servicing" in the Prospectus Supplement, dated February 25, 2002, and under the caption "Servicing of Loans", in the Prospectus dated December 10, 2001, relating to the Certificates and filed with the Securities and Exchange Commission by ABN AMRO Mortgage Corporation pursuant to Rule 424(b) under the rules and regulations of the Securities and Exchanges Commission, is true and correct in all material respects.

  • Servicing of Loans subject to RESPA, if any, shall be released in accordance with RESPA requirements, and Seller shall have no obligation to perform any other activities with respect to such Loans from and after the Closing Date, except those required by applicable Law.

Related to Servicing of Loans

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Servicing Bank means the Agent or the Security Trustee;

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

  • Note A-3 Master Servicer means the master servicer under the Note A-3 PSA.

  • Servicing Agent means, with respect to an eNote, the field entitled, “Servicing Agent” in the MERS eRegistry.

  • Servicing Rate means 1.00% per annum.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Note A-2 Master Servicer means the master servicer under the Note A-2 PSA.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Note A-1 Master Servicer means the master servicer under the Note A-1 PSA.

  • Primary Servicing Office The office of the Master Servicer or the Special Servicer, as the context may require, that is primarily responsible for such party’s servicing obligations hereunder.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.