Minimum Contract Servicing Spread

Minimum Contract Servicing Spread

The Minimum Contract Servicing Spread is selected by the Seller at time of commitment or when the Seller enters into a Purchase Contract under Pricing Identifier Terms, and is the least amount of interest income that must be retained by the Servicer as compensation for Servicing all the Mortgages delivered pursuant to a specific Purchase Contract. The amount selected by the Seller must be no less than the Minimum Servicing Spread. The Servicing Spread applicable to any individual Mortgage delivered pursuant to a specific Purchase Contract may be greater than or equal to, but not less than, the Minimum Contract Servicing Spread selected by the Seller for that Purchase Contract.