Servicing Release Fee definition

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.
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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.
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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.
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Examples of Servicing Release Fee in a sentence

  • The master servicer (referred to in this Program Guide as the “Master Servicer” or the “Servicer”) is: U.S. Bank Home Mortgage 17500 Rockside Road Bedford, Ohio 44146 Telephone: 800-562-5165 The Master Servicer will pay each participating Mortgage Lender a Servicing Release Fee (as defined in Chapter 1, Section G) in an amount established by the Authority from time to time.

  • The current Servicing Release Fee is posted on the ADFA website.For information concerning the submission of documents to the Master Servicer, see Chapter 8 of this Program Guide.

  • The current Servicing Release Fee will be posted at the ADFA website.For information concerning the submission of documents to the Master Servicer, see Chapter 8 of this Program Guide.

  • 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.

  • 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.

  • Lender shall pay to the Fund a Servicing Release Fee in the amount and on the date as set forth on the Terms Sheet.

  • The Lender shall pay to the Fund a fee of one-half of one percent of the principal amount of the ProLoan as a Servicing Release Fee, payable on the date that a ProLoan application is accepted.

Related to Servicing Release Fee

  • Servicing-Released Bid As defined in Section 7.01(c).

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.

  • Primary Servicing Agreement means the agreement between the Primary Servicer and the General Master Servicer, dated as of March 1, 2007, under which the Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • 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.

  • 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.

  • 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.

  • 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.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

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

  • Back-Up Servicing Agreement means that certain Back-Up Servicing Agreement to be entered into by and among the Company, the Administrative Agent and the Back-Up Servicer, as such agreement may be amended, restated, supplemented or otherwise modified from time to time.

  • Non-Lead Servicing Agreement means the pooling and servicing agreement, trust and servicing agreement or other similar agreement to be entered into in connection with a Non-Lead Securitization Note.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • 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.

  • Servicing Report has the meaning assigned to that term in Section 6.08(b).

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Subservicing Agreement The written contract between the Master Servicer and any Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02, generally in the form of the servicer contract referred to or contained in the Program Guide or in such other form as has been approved by the Master Servicer and the Depositor.

  • Servicing Addendum The terms and conditions attached hereto as Exhibit 8 which will govern the servicing of the Mortgage Loans by Seller during the Preliminary Servicing Period.

  • 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.

  • Basic Servicing Agreement means the Amended and Restated Servicing Agreement, dated as of March 1, 2009, among MBFS USA, as lender and as servicer, Daimler Trust, as titling trust, and Daimler Title Co., as collateral agent.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

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

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Servicing Reserve means, the product (expressed as a percentage) of (a) 1.0%, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 months and the denominator of which is 360.