Subservicing Protocol definition

Subservicing Protocol means the terms of this Settlement applicable to servicing remedies, as set forth in Exhibit B.
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Examples of Subservicing Protocol in a sentence

  • JPMorgan shall be permitted to seek approval of the terms of this Subservicing Protocol from the Consumer Finance Protection Bureau, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System and the Office of Mortgage Settlement Oversight and the Monitoring Committee of the National Mortgage Settlement (each, a “Government Agency”).

  • For the purpose of this Subservicing Protocol, subject to subparagraph (e), no Approved Subservicer shall be eligible to subservice loans in excess of 40,000 Delinquent Subserviced Loans (the “Active Loan Cap”).

  • Unless otherwise indicated, costs associated with this Subservicing Protocol set forth herein shall be the responsibility of whichever party bears such costs in the Governing Agreement.

  • The Parties do not release or waive any rights or claims against each other to enforce the terms of this Settlement Agreement, including the Subservicing Protocol.

  • Any amendment to the Subservicing Agreement that is required to conform it to subsequent changes in applicable law, regulation, or which are commercially necessary or reasonable shall not constitute a breach of this Subservicing Protocol.

  • The Settlement consideration shall consist of (i) a cash payment of FOUR BILLION, FIVE HUNDRED MILLION and no/100 dollars (the “Gross Settlement Amount”), reduced by the sum of the Allocable Shares for all Non-Settling Trusts (the “Settlement Payment”), plus (ii) the value of JPMorgan’s agreement to the Subservicing Protocol.

  • Any delay resulting from such efforts, if commercially reasonable, shall not be considered a material breach of this Subservicing Protocol or the Settlement Agreement; provided that the payment of compensatory fees, the transfer of Eligible Loans, and any initiation of due diligence of Authorized Subservicers for the purpose of approving them, as set forth in this Subservicing Protocol, shall be implemented promptly after the Acceptance Date.

  • JPMorgan shall use commercially reasonable efforts to implement this Subservicing Protocol.

  • Additionally, since the 1980s in many developing countries, the proliferation of supermarkets has restructured logistics of agricultural markets.

  • Nothing in the Subservicing Protocol or elsewhere in this Settlement Agreement shall prevent JPMorgan from selling some or all of its servicing rights with respect to the Mortgage Loans in the Settlement Trusts at any time, provided that any purchaser must agree to comply with all material aspects of the Subservicing Protocol in connection with the purchase of servicing rights related to the Mortgage Loans in the Settlement Trusts.

Related to Subservicing Protocol

  • Servicing Procedures means the servicing procedures of Ford Credit relating to retail installment sale contracts originated or purchased by Ford Credit as the procedures may change.

  • Customary Servicing Procedures means procedures (including collection procedures) that the Assuming Institution (or, to the extent a Third Party Servicer is engaged, the Third Party Servicer) customarily employs and exercises in servicing and administering mortgage loans for its own accounts and the servicing procedures established by FNMA or FHLMC (as in effect from time to time), which are in accordance with accepted mortgage servicing practices of prudent lending institutions.

  • 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.

  • Primary Servicing Agreement means the agreement between the applicable Primary Servicer and the Master Servicer, under which such applicable Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.

  • Subservicer means any Person that services Receivables on behalf of the Servicer or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Servicer under this Agreement that are identified in Item 1122(d) of Regulation AB.

  • Subservicing Agreements As defined in Section 3.02(a).

  • Customary Servicing Practices means the customary servicing practices of the Servicer or any Sub-Servicer with respect to all comparable motor vehicle receivables that the Servicer or such Sub-Servicer, as applicable, services for itself and others, as such customary servicing practices may be changed from time to time, it being understood that the Servicer and the Sub-Servicers may not have the same “Customary Servicing Practices.”

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

  • Servicing In accordance with Regulation AB, the act of servicing, managing or administering the Mortgage Loans or any other assets of the Trust by an entity (other than the Certificate Administrator and the Trustee) that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities market.

  • 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.

  • Servicing Contract means, with respect to any Person, the arrangement, whether or not in writing, under which that Person has the right to service Mortgage Loans.

  • 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.

  • Accepted Master Servicing Practices With respect to any Mortgage Loan, those mortgage master servicing practices of prudent mortgage master servicing institutions which master service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.

  • 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.

  • Basic Servicing Agreement has the meaning set forth in the Recitals.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • 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.

  • 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.

  • Non-Lead Servicing Agreements means the PSA with respect to each Non-Lead Note (other than the Non-Lead Note that is included in the Lead Securitization).