Servicing Release Fee means the fee payable to the Lender from the Servicer upon the Purchase of a Mortgage Loan in an amount agreed upon by the Servicer and the Lender.
Servicing Release Fee means the payment to be made by the Servicer to the Lender upon the purchase of a Mortgage Loan, the amount of which payment (if any) shall be specified in the Program Notice relating to a particular Program Installment.
Servicing Release Fee means the amount paid to the originating lender by the Board or Master Servicer to purchase the rights to service a Mortgage Loan, as specified in the Term and Conditions.
Examples of Servicing Release Fee in a sentence
To the extent and under the circumstances provided in the applicable Program Supplement, upon the purchase of a Mortgage Loan, the Servicer shall pay or cause to be paid the Servicing Release Fee to the Participating Lending Institution as compensation for the release of servicing by the Participating Lending Institution.
To the extent provided in the applicable Program Supplement, on the Purchase Date the Division and/or Participating Lending Institution, as appropriate, also shall receive the Servicing Release Fee, as described in Section 4.12(q) hereof.
More Definitions of Servicing Release Fee
Servicing Release Fee means, with respect to a Program, the fee, if any, payable by the Servicer to the Participating Lending Institution or the Division, as the case may be, pursuant to Sections 4.07 and 4.12(k) hereof as compensation for its transfer and assignment to the Servicer of the right to service such Mortgage Loan, in the amount specified in the applicable Program Supplement.