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USA Interim Loan Servicing Agreement
USA lenders and brokers, prepare an Interim Loan Servicing Agreement with this template, in connection with the sale of mortgage loans.
- The loan servicer will temporarily service the mortgage loans until the loans have been transferred to the purchaser.
- The loan servicer acts as an independent contractor on behalf of the purchaser, and will transfer all records and accounts to the purchaser upon termination of the Agreement.
- The loan servicing activities include collection and remittance of mortgage payments, maintenance of records, reports to the purchaser, maintenance of related escrow accounts, payment of taxes and insurance.
- The loan servicer will proceed with collection and/or foreclosure proceedings in the event of default in payment of the mortgage loan.
- All collections, remittances, payments, and record keeping will be done in full compliance with applicable local, state and federal laws.
This USA Interim Loan Servicing Agreement is provided in MS Word format, and is fully editable to meet your specific circumstances.
Download: USA Interim Loan Servicing Agreement
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