Examples of Xxxxxx Xxx Mortgage Loans in a sentence
Proceeds of the Loan shall only be used to finance the origination of Xxxxxxx Mac Mortgage Loans, Xxxxxx Xxx Mortgage Loans, and FHA Mortgage Loans.
The Borrower shall not sell, assign, transfer or otherwise Dispose of, any of the Xxxxxx Xxx MSRs or any interest therein, other than Dispositions of the Xxxxxx Xxx MSRs (i) resulting from the payoff of the related Xxxxxx Xxx Mortgage Loans, (ii) as required by Xxxxxx Xxx, or (iii) in accordance with the Transaction Documents and the Acknowledgment Agreement.
The Borrower has adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute Xxxxxx Xxx Mortgage Loans and in accordance with Accepted Servicing Practices.
The Seller (or the Program Administrator on behalf of the Seller, as applicable) and Xxxxxx Mae shall manage litigation, and the Purchaser shall cause the Successor Servicer to manage litigation, with respect to the Xxxxxx Xxx Mortgage Loans that exists as of, or arises subsequent to, the Closing Date in accordance with the protocol set forth on Exhibit G or Exhibit I, as applicable, and the terms of this Section 2.07.
This Section 6.7 shall only apply to Xxxxxx Xxx Mortgage Loans and Xxxxxxx Mac Mortgage Loans, as applicable.
The Borrower shall maintain adequate financial standing, facilities, procedures and experienced personnel necessary for the prudent oversight of subservicers to ensure the sound servicing of mortgage loans of the same types as may from time to time constitute Xxxxxx Xxx Mortgage Loans and in accordance, in all material respects, with Accepted Servicing Practices and the terms of the Xxxxxx Xxx Servicing Contract.
The Custodial Account maintained by the Subservicer that the Subservicer authorizes for direct withdrawal of funds to Xxxxxx Xxx for Xxxxxx Xxx Mortgage Loans, which shall be an Eligible Account and shall be maintained in accordance with Section 5.10.
Borrower shall maintain an internal quality control program that tests, on a regular basis, the existence and accuracy of legal documents, credit documents, property appraisals, and underwriting decisions related to the origination, underwriting and servicing of the Xxxxxx Xxx Mortgage Loans.
Advances shall be used exclusively (i) for the purposes described in the definition of General Advances, and (ii) to finance the origination of Xxxxxx Xxx Mortgage Loans, Xxxxxxx Mac Mortgage Loans and FHA Mortgage Loans.
The Repo Seller shall do all things necessary to preserve the Purchased Assets so that they remain subject to a first priority perfected security interest hereunder, subject to the rights and interest of the applicable Agency, including in the case of Purchased Assets relating to Xxxxxx Xxx Mortgage Loans, the Xxxxxx Mae Requirements.