(B) Is a Housing Finance Agency, as defined in 24 CFR 266.5; or
(C) Is an entity that is nonprofit solutions 5,000 or less home mortgages, including any home loans serviced on the part of associated nonprofit entities, for many of that the servicer or an associated nonprofit entity may be the creditor. The following definitions apply for purposes of this paragraph (e)(4)(ii)( C)
(1) The expression “nonprofit entity” means an entity having a taxation exemption ruling or determination page through the irs under section 501(c)(3) for the Internal income Code of 1986 (26 U.S.C. 501(c)(3); 26 CFR 1.501(c)(3)-1), and;
(2) The expression “associated nonprofit entities” means nonprofit entities that by agreement operate employing a typical title, trademark, or servicemark to help expand and help a typical charitable objective or purpose.
(iii) Small servicer determination. The servicer is evaluated based on the mortgage loans serviced by the servicer and any affiliates as of January 1 and for the remainder of the calendar year in determining whether a servicer satisfies paragraph (e)(4)(ii)(A) of this section. In determining whether a servicer satisfies paragraph (age)(4)(ii)(C) of the area, the servicer is assessed in line with the home loans serviced by the servicer at the time of January 1 and also for the remainder of this season. A servicer that ceases to qualify as a little servicer may have 6 months through the time it ceases to qualify or through to the next January 1, whichever is later on, to adhere to any needs from where the servicer is no longer exempt as a tiny servicer. The next home loans aren’t considered in determining whether a servicer qualifies as being a little servicer:
1. Loans acquired by merger or acquisition. Any home loans acquired by way of a servicer or a joint venture partner included in an acquisition or merger, or included in the purchase of all the assets or liabilities of the branch workplace of a creditor, should be thought about home mortgages which is why the servicer or an affiliate marketer could be the creditor to that the home loan is initially payable. Weiterlesen