Servicing Only Loans

Servicing Only Loans. Those Subject Loans (other than Legacy Loans) that were or are serviced by the Insureds and were 90 days or more past due as of the Pre-Closing Cut-off Date, or, in the case of loans as to which the servicing has been transferred, 90 days or more past due as of the transfer date, identified on Schedules 5, 6 and 7 of the Letter Agreement