Subserviced Mortgage Loan definition

Subserviced Mortgage Loan. Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

Subserviced Mortgage Loan. Those Mortgage Loans referred to in the second WHEREAS clause in the preamble to this Agreement and listed on the Subserviced Mortgage Loan Schedule at Exhibit L hereto, but only during the period from the Closing Date until the Servicing Rights Transfer Date at which time Exhibit L will be superseded and all the Subserviced Mortgage Loans will be included on the Mortgage Loan Schedule at Exhibit A.

Subserviced Mortgage Loan. Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement. [YOUN7950:~5.NY01B] 16069-00385 02/04/97 7:45pm 32

Examples of Subserviced Mortgage Loan in a sentence

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• The Servicing Fee for the Subserviced Mortgage Loans shall be the monthly fee set forth for each such Subserviced Mortgage Loan on Exhibit Two hereto.

• All payments into and disbursements from and calculations with respect to Custodial Accounts and Escrow Accounts have been executed and performed in compliance with the Applicable Servicing Requirements, except where the failure to do so would not have a material adverse effect on the Servicer or the servicing rights or obligations with respect to any Subserviced Mortgage Loan.

• Except as permitted by the terms of the Applicable Servicing Requirements and the terms of the related Subserviced Mortgage Loans, not accept any prepayment of any Subserviced Mortgage Loan nor waive, modify, release or consent to postponement on the part of the Mortgagor of any term or provision of the Mortgage Loan Documents without the written consent of Investor or as directed by the applicable Investor’s written loss mitigation guidelines.

• Servicer has complied in all respects with all of its contractual obligations under each Servicing Agreement, except to the extent that any such failure to comply would not have, individually, or in the aggregate, and would not reasonably be expected to have, a material adverse effect on the Servicer or the servicing rights or obligations with respect to any Subserviced Mortgage Loan.

• If a Private Investor is the Investor for a Subserviced Mortgage Loan, Subservicer is, or will be as soon as practicable following the Effective Date, an approved originator, seller and servicer, as applicable, in good standing with such Private Investor.

• The Parties acknowledge the intention of Servicer to sell such repurchase Subserviced Mortgage Loan to a third Person following such repurchase, and Subservicer agrees reasonably to cooperate with and assist Servicer in such sale and to provide or obtain information related to such repurchased Subserviced Mortgage Loan.

• Subservicer will keep records pertaining to each Subserviced Mortgage Loan and Mortgagor in such form and content as is necessary to fully satisfy the Applicable Servicing Requirements.

• You shall take all reasonable precautions to protect the Covered Equipment against an Insured Event and shall use and maintain the Covered Equipment in accordance with its instructions.

• If, upon such conversion, Applicable Servicing Requirements provide for the repurchase of such Subserviced Mortgage Loan, Servicer shall implement and fund such repurchase.