Common use of Insured Closing Letter Clause in Contracts

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by Buyer, copies of which shall be maintained in the possession of Seller and provided to Buyer upon request, if required. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.

Appears in 5 contracts

Samples: Master Repurchase Agreement (Caliber Home Loans, Inc.), Master Repurchase Agreement (Velocity Financial, LLC), Master Repurchase Agreement (loanDepot, Inc.)

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Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by Buyer, copies of which shall be maintained in delivered by Seller to the possession of Seller and provided Custodian prior to Buyer upon request, if requiredthe Purchase Date. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.

Appears in 2 contracts

Samples: Master Repurchase Agreement (PHH Corp), Master Repurchase Agreement (PHH Corp)

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Funded Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Buyer, copies of which shall be maintained in delivered by the possession of applicable Seller and provided to Buyer upon request, the Custodian prior to the Purchase Date if requiredrequested by Buyer. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including the Buyer.

Appears in 2 contracts

Samples: Master Repurchase Agreement (MortgageIT Holdings, Inc.), Master Repurchase Agreement (MortgageIT Holdings, Inc.)

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Buyer, copies of which shall be maintained in delivered by the possession of Seller and provided to Buyer upon request, if requiredthe Custodian prior to the Purchase Date. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including the Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (American Home Mortgage Investment Corp)

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by Buyer, copies of which shall be maintained in delivered by Seller to the possession of Seller and provided Custodian prior to Buyer upon request, if requiredthe Purchase Date. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.. (dd)

Appears in 1 contract

Samples: Master Repurchase Agreement

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Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by Buyer, copies of which shall be maintained in the possession of Seller United Shore and provided to Buyer upon request, if required. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (UWM Holdings Corp)

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by Buyer, copies of which shall be maintained in the possession of the Seller and provided to Buyer upon request, if required. Among other things, the Insured Closing Letter covers any losses occurring due to the fraud, dishonesty or mistakes of the closing agent. The Insured Closing Letter inures to the benefit of, and the rights thereunder may be enforced by, the loan originator and its successors and assigns, including Buyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Sirva Inc)

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