Underlying Servicer definition

Underlying Servicer means, with respect to a Portfolio Asset consisting of a loan participation, any sub-agent or servicer appointed by the Underlying Agent or trustee or similar agent for such Portfolio Asset to administer and service the Underlying Loan Obligations for such Portfolio Asset.
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Underlying Servicer. With respect to any Underlying Mortgage Loan, the servicer of such Underlying Mortgage Loan.
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Underlying Servicer. Bank of America, National Association. Underlying Transaction: Each of (i) Banc of America Mortgage Trust 2005-3, (ii) Banc of America Alternative Loan Trust 2005-11 and (iii) Banc of America Alternative Loan Trust 2006-9, as applicable.
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Examples of Underlying Servicer in a sentence

  • For any Distribution Date, the month immediately preceding themonth in which such Distribution Date occurs (the “Loss Period”).Delinquency Determination Date For any Distribution Date, the close of business on the last day of themost recent month for which the Master Servicer has received Mortgage Loan delinquency data from an Underlying Servicer and completed its review (the “Delinquency Determination Date”).

  • Furthermore, as set forth in the table below, one of the Underwriters is affiliated with the specified Underlying Seller and Underlying Servicer of Mortgage Loans and the aggregate Cut-Off Date Balance of the Mortgage Loans purchased from and serviced by such Underlying Seller and Underlying Servicer exceeded 1% of the aggregate Cut-Off Date Balance of the Mortgage Loans.

  • The Borrower or the Portfolio Asset Servicer on the Borrower’s behalf shall direct the Obligors and, if applicable, any agent, administrative agent, Underlying Servicer or issuer for any Portfolio Asset to remit all Collections payable to the Borrower with respect to such Portfolio Asset directly to the Collection Account.

  • Some liquid blending equipment is capable of handling free-flowing powders and may be suitable.

  • Fannie Mae will not guarantee the collection from Mortgagors or the Underlying Servicer or the payment to Certificateholders of any Prepayment Premiums or Yield Maintenance Charges.

  • The Collection Account is the only account to which the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent, Underlying Servicer or issuer of any Portfolio Asset have been instructed by the Borrower or the Portfolio Asset Servicer on Borrower’s behalf, to send Collections with respect to the Portfolio Assets.

  • The Borrower (and the Portfolio Asset Servicer on their behalf) will not make any change in its instructions to the Obligors or any agent, administrative agent, Counterparty Lender, Underlying Agent or Underlying Servicer, as applicable, regarding payments to be made with respect to the related Portfolio Asset to the Collection Account, as applicable, unless the Majority Lenders have directed, or otherwise have consented in writing to such change.


More Definitions of Underlying Servicer

Underlying Servicer shall have the meaning set forth in the Recitals hereto. “Uniform Commercial Code” or “UCC” shall mean the Uniform Commercial Code as in effect from time to time in the State of New York; provided that if by reason of mandatory provisions of law, the perfection or the effect of perfection or non-perfection of the security interest in any Purchased Mortgage Loan, Servicing Rights, Related Purchased Mortgage LoansAssets or the continuation, renewal or enforcement thereof is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York, “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions of the Agreement relating to such perfection or effect of perfection or non-perfection. “Unscheduled Payment” shall mean, with respect to aany Mortgage Loan that is a HomeSafe Flex or HomeSafe Select, a payment to a Mortgagor of a requested draw amount or other such amounts disbursed on behalf of the Mortgagor from Set-Aside Amounts which is added to the Principal Balance pursuant to the terms of the related Mortgage Loan. “UPI Modification” shall have the meaning set forth in Section 12(i) of the Agreement. “UPI Party” shall mean, individually and collectively, as the context may require, each of the Participation Trustee, the Participation Trust, the Participation Trust Manager, the Participation Seller, the Participation Registrar, the Participation Paying Agent, the Underlying Servicer, the UTI Trust, the Depositor, the Series Trust Manager, the UTI Trustee, the Series Trustee, and the Series 2023-GOT Trust. “UTI Trust” shall have the meaning set forth in the Recitals hereto “UTI Trustee” shall have the meaning set forth in the Recitals hereto. “U.S. Government Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a Sunday and (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “Warehouse Lender” shall mean any Person, if any, that has at any time had any security interest, pledge or hypothecation of the Purchased Mortgage Loans for the benefit of such Person. “Yield Maintenance Fee” shall have the meaning specified in the Pricing Letter.
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Underlying Servicer. Each of Temple-Inland Mortgage Corporation, Cendant Mortgage Corporation and Chase Mortgage Company, and their respective permitted successors and assigns under the related Underlying Servicing Agreements, as servicers of the related Servicing Retained Mortgage Loans pursuant to the related Underlying Servicing Agreements.
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Underlying Servicer means, (i) initially, Greystone Servicing Company LLC, or (ii) any other agent, sub-agent, or servicer reasonably acceptable to the Initial Lender and appointed by the Borrower or the Portfolio Asset Servicer to administer and service the Underlying Loan Obligations for such Portfolio Asset.
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Related to Underlying Servicer

  • Servicer means the Master Servicer or the Special Servicer, as the context may require.

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Special Servicer means the special servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization Servicing Agreement.

  • 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.

  • Interim Servicer The servicer under the Interim Servicing Agreement, or its successor in interest, or any successor to the Interim Servicer under the Interim Servicing Agreement, as therein provided.

  • Primary Servicer Prudential Asset Resources, Inc., or any successor thereto (as primary servicer) appointed as provided in the Primary Servicing Agreement.

  • Back-Up Servicer means Xxxxx Fargo Bank, National Association and its permitted successors and assigns, as provided in the Indenture.

  • Reporting Servicer As defined in Section 11.13.

  • Servicing Agent means, with respect to an eNote, the field entitled, “Servicing Agent” in the MERS eRegistry.

  • Lead Servicer means the master servicer designated under the Note A-1 PSA.

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Initial Servicer means CarMax.

  • Additional Servicer Each affiliate of each Servicer that services any of the Mortgage Loans and each Person who is not an affiliate of the any Servicer, who services 10% or more of the Mortgage Loans. For clarification purposes, the Master Servicer and the Securities Administrator are Additional Servicers.

  • 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.