Home Affordable Modification Program. The Company and its Affiliates shall participate in the Investor’s Home Affordable Mortgage Program (“HAMP”) of the Making Home Affordable program. The Company shall (a) if it services residential mortgage loans enter into (i) a Commitment to Purchase Financial Instrument and Servicer Participation Agreement and (ii) a Financial Instrument (together, a “SPA”), with the Federal National Mortgage Association, as financial agent of the Investor, with respect to HAMP and (b) cause any of its Affiliates that services residential mortgage loans (or, for any residential mortgage loans that are subserviced by a non-affiliate servicer on behalf of the Company or any of its affiliates, cause the related subservicer) to enter into a SPA with ▇▇▇▇▇▇ ▇▇▇, in each case within fifteen days after the date of this Purchase Agreement. For purposes of this Section, participation in HAMP shall include participation in HAMP’s second lien program and each additional program promulgated under the HAMP guidelines.
Appears in 2 contracts
Sources: Securities Purchase and Exchange Agreement, Securities Purchase and Exchange Agreement (Gmac Inc.)