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Glossary Term: SERVICING FEE

Definition(s) for SERVICING FEE:


1. ) pertains to the amount retained by the mortgage servicer from monthly interest payments made on a mortgage loan.

2. ) With Respect To Each Collection Period, The Servicing Rate Multiplied By The Pool Balance As Of The First Day Of The Related Collection Period Or, In The Case Of The First Payment Date, The Pool Balance As Of The Cutoff Date.

3. ) As to each Mortgage Loan and any Distribution Date, one month¡¯s interest at the applicable Servicing Fee Rate on the Stated Principal Balance of the Mortgage Loan as of the Due Date in the month preceding the month of such Distribution Date, or, whenever a payment of interest accompanies a Principal Prepayment in Full made by the Mortgagor, interest at the Servicing Fee Rate on the Stated Principal Balance of the Mortgage Loan for the period covered by the payment of interest, subject to reduction as provided in Section 3.15.



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