Servicing Business Definition | Law Insider

Seller shall have acquired the Mortgage Servicing Rights from Aurora pursuant to the Residential Servicing Business Asset Purchase Agreement as of the Closing Date.

You agree to return any Policy which cannot be delivered within thirty (30) days for any reason to the LBL’s home office at the end of the thirty(30) day delivery period.h) Servicing Business.

Loan Servicing Business: Number of accounts with outstanding purchased receivables.

Subject to the rights of the Agency and except as contemplated under the Residential Servicing Business Asset Purchase Agreement with respect to transition services thereunder, Seller will not permit any Person other than Seller to service or sub-service the Mortgage Loans without the prior written consent of Purchaser, in each case other than third-party vendors customarily employed by servicers in the ordinary course of business in accordance with prudent mortgage servicing practices.

If all necessary Owner Consents are not received by the Closing Date, or if the Residential Servicing Business Asset Purchase Agreement is terminated, this Agreement shall be terminated concurrently therewith, without any further action of either Party, and neither Party shall have any further obligations to the other Party hereunder.