Eligible Mortgages. The Mortgage must be a conventional fixed-rate, fully amortizing mortgage with a term of 30 years or less, or a 7/1 adjustable-rate mortgage (Xxxxxx Xxx Plans 750 or 751). In addition, 10/1 adjustable-rate mortgages (Xxxxxx Mae Plans 1423 and 1437) are permitted, but usage is subject to the limitation noted in the Section below entitled, “Pricing for Cash Deliveries.”
Eligible Mortgages. The PFI will only sell to the Bank mortgages which satisfy the requirements set forth herein and in the Guides on the day a written or electronic commitment is issued to the Borrower for the loan evidenced and secured by the mortgage, except with respect to any mortgage for which no commitment is issued to the Borrower, in which case the Guides in effect on the day the mortgage is closed shall govern.
Eligible Mortgages. The PFI will only originate for or sell to the Bank mortgages which satisfy the requirements set forth herein and in the Guides on the day a written or electronic commitment is issued to the Borrower for the loan evidenced and secured by the mortgage, except with respect to any mortgage for which no commitment is issued to the Borrower, in which case the Guides in effect on the day the mortgage is closed shall govern. The PFI may originate Bank Funded Mortgages through a designee approved by the Bank but the PFI remains liable for all acts and omissions of its designee.
Eligible Mortgages. Under the terms of this Attachment, Seller may deliver the LIBOR ARMs, including Convertible LIBOR ARMs, that are not currently mortgage products eligible for purchase under the Guide, provided such mortgages otherwise satisfy the requirements of the Guide and this Attachment. Eligible LIBOR ARMs must have the features and characteristics described in the attached Eligible LIBOR ARMs Exhibit. Except as otherwise specified in this Attachment, all 1-year LIBOR ARMs must comply with all requirements of the Guide applicable to 2% 1-year ARMs and all 3/1, 5/1, 7/1 and 10/1 LIBOR ARMs must comply with all requirements of the Guide applicable to 3/1, 5/1, 7/1 and 10/1 ARMs, respectively. Except as modified by this Attachment, all Convertible LIBOR ARMs must comply with the provisions stated in Chapter 31 of the Guide
Eligible Mortgages. Under the terms of this Attachment, Seller may deliver Treasury ARMs, including Convertible Treasury ARMs, that are not currently mortgage products eligible for purchase under the Guide, provided such mortgages otherwise satisfy the requirements of the Guide and this Attachment. Eligible Treasury ARMs must have the features and characteristics described in the attached Eligible Treasury ARMs Exhibit. Except as otherwise specified in this Attachment, all 3/1, 5/1, 7/1 and 10/1 Treasury ARMs must comply with all requirements of the Guide applicable to 3/1, 5/1, 7/1 and 10/1 ARMs, respectively. Except as modified by this Attachment, all Convertible Treasury ARMs must comply with the provisions stated in Chapter 31 of the Guide.
Eligible Mortgages. The Mortgages purchased by FHLB must meet the requirements in effect under the Guide, and this Master Agreement, on the day FHLB executes a Mandatory Delivery Contract. Each Mortgage purchased by FHLB under the Mortgage Purchase Program shall be either a 15- or 30-year fixed rate, fully- amortizing, level-payment Mortgage that meets FHLB’s underwriting standards.
Eligible Mortgages. The Mortgages purchased by FHLBI must meet the requirements in effect under the Guide, and this Master Agreement, on the day FHLBI executes a Mandatory Delivery Contract either via FHLBI’s Loan Acquisitions System (LAS) or verbally. Each Mortgage purchased by FHLBI under the Mortgage Purchase Program shall be a 5to 30 year fixed rate, fully amortizing, level-payment Mortgage that meets FHLBI’s underwriting standards, and does not violate FHLBI’s Anti-Predatory Lending Policy for Acquired Member Assets.
Eligible Mortgages. Each Mortgage Loan sold to Xxxxxx Mae in each As Soon As Pooled Plus transaction must: (i) meet the eligibility requirements of the Mortgage Selling and Servicing Contract, the Guides and any applicable pool purchase contract; (ii) have been closed and funded at least one Business Day before the date of the Funding Express transmission with respect thereto and no longer subject to any applicable right of rescission; and (iii) be eligible for delivery into “TBA” Pools (or other pools as approved by Xxxxxx Xxx), or have such other terms as have been approved by Xxxxxx Mae.
Eligible Mortgages. Each Mortgage Loan sold to Xxxxxx Xxx in each Transaction must: (i) meet the eligibility requirements of the Mortgage Selling and Servicing Contract, the Guides and any applicable pool purchase contract; (ii) have been closed and funded at least twenty-four hours before the date of the Funding Express transmission with respect thereto and no longer subject to any applicable right of rescission; and (iii) be eligible for delivery into “TBA” Pools (or other pools as approved by Xxxxxx Mae), or have such other terms as have been approved by Xxxxxx Xxx.
Eligible Mortgages. A Minus Matrix Mortgages must be:
