Additional Representation of the Company Concerning the Mortgage Loans Clause Samples
The "Additional Representation of the Company Concerning the Mortgage Loans" clause requires the company to make specific assurances or statements about the mortgage loans involved in a transaction. Typically, this means the company must confirm that the loans meet certain standards, such as compliance with applicable laws, accuracy of documentation, or the absence of undisclosed liabilities. For example, the company might represent that all mortgage loans are valid, enforceable, and free from material defects. The core function of this clause is to provide the other party with confidence in the quality and legal standing of the mortgage loans, thereby reducing the risk of future disputes or losses related to those assets.
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002 or the New Mexico Home Loan Protection Act. Based on the foregoing representation and warranty and on the Company’s obligation, pursuant to Section 2.08, to repurchase or substitute for the affected Mortgage Loan in the event of a breach of the representation set forth in clause (xxix) of Section 2.08, the other parties hereto agree and understand that it is not intended for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002 or the New Mexico Home Loan Protection Act.
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act, the Massachusetts Predatory Home Loan Practices Act or the Indiana Home Loan Practices Act (Indiana Code, Section 24-9 et seq.). Based on the foregoing representation and warranty and on the Company’s obligation, pursuant to Section 2.08, to repurchase or substitute for the affected Mortgage Loan in the event of a breach of the representation set forth in clauses (xxxi) or (xxxii) of Section 2.08, the other parties hereto agree and understand that it is not intended for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act, the Massachusetts Predatory Home Loan Practices Act or the Indiana Home Loan Practices Act (Indiana Code, Section 24-9 et seq.).
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act or the Massachusetts Predatory Home Loan Practices Act. Based on the foregoing representation and warranty and on the Company’s obligation, pursuant to Section 2.08, to repurchase or substitute for the affected Mortgage Loan in the event of a breach of the representation set forth in clause (xxxi) of Section 2.08, the other parties hereto agree and understand that it is not intended for the Mortgage Pool to include any Mortgage Loan that is a “high-cost home loan” as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act or the Massachusetts Predatory Home Loan Practices Act.
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a "high-cost home loan" as defined under the New Jersey Home Ownership Security Act of 2002. Based on the foregoing representation and warranty and on the Company's obligation, pursuant to Section 2.08, to repurchase or substitute for the affected Mortgage Loan in the event of a breach of the representation set forth in clause (xxxi) of Section 2.08, the other parties hereto agree and understand that it is not intended for the Mortgage Pool to include any Mortgage Loan that is a "high-cost home loan" as defined under the New Jersey Home Ownership Security Act of 2002.
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a high-cost home loan as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act, the Massachusetts Predatory Home Loan Practices Act or the Indiana Home Loan Practices Act (Indiana Code, Section 24-9 et seq.). Based on the foregoing representation and warranty and on the Company’s obligation, pursuant to Section 2.08, to repurchase or substitute for the affected Mortgage Loan in the event of a breach of the representation set forth in clause (xxix) of Section 2.08, the other parties hereto agree and understand that it is not intended for the Mortgage Pool to include any Mortgage Loan that is a high-cost home loan as defined under the New Jersey Home Ownership Security Act of 2002, the New Mexico Home Loan Protection Act, the Massachusetts Predatory Home Loan Practices Act or the Indiana Home Loan Practices Act (Indiana Code, Section 24-9 et seq.).
Additional Representation of the Company Concerning the Mortgage Loans. The Company hereby represents and warrants to the Trust that it does not intend for the Mortgage Pool to include any Mortgage Loan that is a "high-cost home loan" as defined under the New Jersey Home Ownership Security Act of 2002 or the New Mexico Home Loan