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Title: |
Servicing Agreement |
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Entities: |
Freddie Mac; Impac CMB Trust Collaterlized Ab Bond Series 2003-3 ; McGraw-Hill Companies Inc.; Federal National Mortgage Association |
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Date: |
2003 |
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Size: |
Preview shows 5KB of 170KB total |
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Price: |
$58 |
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ID: |
#2094083 |
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Start of Preview |
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IMPAC FUNDING CORPORATION,
as Master Servicer,
IMPAC CMB TRUST SERIES 2003-3,
as Issuer
and
DEUTSCHE BANK NATIONAL TRUST COMPANY,
as Indenture Trustee,
------------------------------------
SERVICING AGREEMENT
Dated as of February 27, 2003
------------------------------------
Mortgage Loans
Impac CMB Trust Series 2003-3
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I
Definitions..............................................................................................2
Section 1.01 Definitions.......................................................................2
Section 1.02 Other Definitional Provisions.....................................................2
Section 1.03 Interest Calculations.............................................................2
ARTICLE II
Representations and Warranties...........................................................................4
Section 2.01 Representations and Warranties Regarding the Master Servicer......................4
Section 2.02 Existence.........................................................................5
Section 2.03 Enforcement of Representations and Warranties.....................................5
ARTICLE III
Administration and Servicing of Mortgage Loans...........................................................7
Section 3.01 Master Servicer to Assure Servicing...............................................7
Section 3.02 Subservicing Agreements Between Master Servicer and Subservicers.................10
Section 3.03 Successor Subservicers...........................................................11
Section 3.04 Liability of the Master Servicer.................................................11
Section 3.05 Assumption or Termination of Subservicing Agreements by Indenture Trustee........12
Section 3.06 Collection of Mortgage Loan Payments.............................................12
Section 3.07 Withdrawals from the Collection Account..........................................15
Section 3.08 Collection of Taxes Assessments and Similar Items; Servicing Accounts............17
Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans.....17
Section 3.10 Maintenance of Primary Insurance Policies and the Radian Policy;
Collection Thereunder..........................................................18
Section 3.11 Maintenance of Hazard Insurance and Fidelity Coverage............................19
Section 3.12 Due-on-Sale Clauses; Assumption Agreements.......................................20
Section 3.13 Realization Upon Defaulted Mortgage Loans........................................21
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
Section 3.14 Indenture Trustee to Cooperate; Release of Mortgage Files........................23
Section 3.15 Master Servicing Compensation....................................................24
Section 3.16 Annual Statements of Compliance..................................................24
Section 3.17 Annual Independent Public Accountants' Servicing Report..........................25
Section 3.18 Optional Purchase of Defaulted Mortgage Loans....................................26
Section 3.19 Information Required by the Internal Revenue Service Generally and
Reports of Foreclosures and Abandonments of Mortgaged Property.................26
ARTICLE IV
Servicing Certificate...................................................................................27
Section 4.01 Remittance Reports...............................................................27
Section 4.02 Reserved.........................................................................27
Section 4.03 Reserved.........................................................................27
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