![]() 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. More Definitions of Securitized Portfolio The purchase and sale of the Servicing Rights for the Securitized Portfolio shall be effected upon payment of the Purchase Price for the Securitized Portfolio and the execution and delivery of the Assignment and Assumption Agreement. Subject to the terms and provisions of this Agreement, Metwest hereby agrees to sell, transfer, assign, convey and set over to the Purchaser, as of the Purchase Date for the Securitized Portfolio, the Servicing Rights with respect to the Loans in the Securitized Portfolio, and the Purchaser hereby agrees to perform the servicing for such Loans in accordance with the terms of the related P&S Agreements. Total Securitized Portfolio at Reference Date9,830,326,004.38 Net Losses (Calculated)-297,531.32 Repurchases-923,483.69 Portfolio after losses and repurchases9,829,104,989.37 New SME Receivables offered 165,676,846.19 Total portfolio 9,994,781,835.56 IV.ĭje are treated as K Mining exploration details are presented in chapter 9. Upon the transfer to the Purchaser of the Servicing Rights relating to a Pool in the Securitized Portfolio pursuant to this Agreement, the Purchaser shall service the Loans in such Pool in accordance with the related P&S Agreement and during such time that such Pool is in the Subservicing Portfolio, the Purchaser shall act as subservicer of the related Loans pursuant to Section 2.05. On the Purchase Date for the Securitized Portfolio, as full consideration for Metwest's sale of the Servicing Rights for the Securitized Portfolio to the Purchaser, the Purchaser will pay to Metwest the Purchase Price for the Securitized Portfolio, which shall be payable to Metwest by wire transfer in immediately available funds. On the Purchase Date for the Securitized Portfolio, subject to the terms and provisions of this Agreement, the Purchaser will pay to Metwest the entire Purchase Price for the Securitized Portfolio, regardless of whether the conditions set forth in this Agreement for the purchase of the Servicing Rights relating to any Pool in the Securitized Portfolio are satisfied and the related Servicing Rights are transferred on such Purchase Date.Įffective as of the date of execution of this Amendment and notwithstanding Section 3.04 of the Servicing Agreement or Section 12.02(a)(vi) of the Secured Loan Agreement, the Servicer shall not make Servicer Advances with respect to the Securitized Portfolio. Total Portfolio: Loans and Leasing before Allowances, Including Securitized Portfolio.ĬW-5 confirmed that BAC’s CFO, Price, knew, on a daily basis, the performance characteristics of all of the legacy Countrywide mortgage-backed securities being serviced, because BAC had Securitized Portfolio Reports run daily and disseminated weekly to the Company’s CFO. “ The Subprime Credit Crisis of ’07.Examples of Securitized Portfolio in a sentence “ The Great Recession and Its Aftermath.”įederal Deposit Insurance Corp. “ The Financial Crisis Inquiry Report.”įederal Reserve History. “ Did Securitization Lead to Lax Screening? Evidence from Subprime Loans,” The Quarterly Journal of Economics, Vol. Keys, Tanmoy Mukherjee, Amit Seru, and Vikrant Vig, via Oxford Academic. Mortgage Default Crisis,” The Quarterly Journal of Economics, Vol. “ The Consequences of Mortgage Credit Expansion: Evidence from the U.S. “ Securitization: Key Legal and Regulatory Issues,” ( of PDF).Ītif Mian and Amir Sufi, via Oxford Academic. “ Mechanics and Benefits of Securitization,”. “ Mechanics and Benefits of Securitization.”ĭiamond Hill Capital Management. “ Mortgage-Backed Securities and Collateralized Mortgage Obligations.”ĭiamond Hill Capital Management.
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