Servicing Release Premium definition

Servicing Release Premium means the amounts determined pursuant to Exhibit A hereto, to be paid by the Servicer to Mortgage Lenders at the time of loan purchase for release of the Mortgage Lender’s servicing rights to the Servicer at the Authority’s direction, in connection with each Mortgage Loan originated or purchased by Servicer. Exhibit A may be amended from time to time by the Authority, in its sole discretion.
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Servicing Release Premium means the fee included within the purchase price as compensation to the Originator for release of the right to service the Mortgage Loan.
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Servicing Release Premium means the fee included within the Purchase Price as compensation to the Originator for release of the right to service the Mortgage Loan, which shall be based on a sliding scale in an amount equal to 1.50% to 2.00% of the principle amount of the Mortgage Loan on those with FHA Insurance, Rural Development Guaranty or 1.00% to 1.50% of the principle amount of the Conventional Mortgage Loans purchased by the Authority.
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Examples of Servicing Release Premium in a sentence

  • Upon the Purchase of each Qualified Mortgage Loan, the Authority shall deliver to the Originator the appropriate Servicing Release Premium for the Mortgage Loans.

  • Without limiting the foregoing and in addition thereto, with respect to Non-Qualifying Mortgage Loans described in section 4.10C above, each Originator hereby further covenants and agrees to refund to the Authority any Servicing Release Premium paid by the Authority.

  • Mortgage Loans to mortgagors not receiving Entry Costs Assistance shall be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest and (ii) the applicable Servicing Release Premium.

  • Mortgage Loans to mortgagors receiving Entry Cost Assistance will be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest, (ii) the applicable Servicing Release Premium, and (iii) the amount of cash assistance provided by the Mortgage Lender for such Loan, as directed by the Authority.

  • Lender compensation will be in the form of a Servicing Release Premium (SRP) equal to 2.50%, effective January 01, 2023.

  • The selected Servicer will pay to Florida Housing a Servicing Release Premium (SRP).

  • The Servicing Release Premium you will pay on the principal balance of each loan at the time of its purchase from the originating lender.

  • Servicing Release Premium means the amount, if any, to be paid to SELLER for the Servicing Rights associated with a Mortgage Loan as specified in writing by PURCHASER.

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  • Xxxxxxxx, Director of Loan Acquisition & Shipping Date:   Exhibit A – Servicing Release Premium Effective November 1, 2018 (for new reservations) For delivery within 30 days after closing 1.5% OR Minimum of $1,000 For delivery within 31-60 days after closing 1.0% OR Minimum of $750 For delivery within 61-90 days after closing .75% OR Minimum of $500 Delivery means all purchase conditions are cleared.


More Definitions of Servicing Release Premium

Servicing Release Premium means the fee for release of servicing paid by the Servicer in the amounts and manner set forth in the Servicing Agreement.
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Servicing Release Premium means the fee included within the purchase price paid by the Master Servicer as compensation to a Lender for release of the right to service a Mortgage Loan, which shall be equal to 1.50% of the principal amount of the Mortgage Loan on those with FHA Insurance, USDA-RD Guaranty and 1.25% of the principal amount of the Conventional Mortgage Loans
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Servicing Release Premium means the amount in addition to the Purchase Price that Purchaser pays, if any, to obtain a Mortgage Loan without reservation by Seller of the servicing right for such Mortgage Loan.
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Servicing Release Premium means the compensation/fee payable to the Department for the sale of the Servicing Rights.
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Servicing Release Premium means that fee paid by the Master Servicer to a Lender in connection with the purchase of a Mortgage Loan, thus releasing the servicing rights for such Mortgage Loan, which fee shall be in an amount specified in the Program Guidelines.
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Related to Servicing Release Premium

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Prepayment Charge With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a full or partial prepayment of such Mortgage Loan during a Prepayment Period in accordance with the terms thereof (other than any Servicer Prepayment Charge Payment Amount).

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

  • Insurance Premium means the amount that each Debtor shall pay on a monthly basis to Agos pursuant to the relevant Consumer Loan Agreement, in relation to the insurance premium paid by Agos to the relevant Insurance Company under any Financed Insurance Policy.

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