Lending Program Sample Clauses
The Lending Program clause establishes the terms and conditions under which one party may lend assets, such as securities or funds, to another party. It typically outlines the types of assets eligible for lending, the duration of the loan, collateral requirements, and the rights and obligations of both the lender and the borrower. For example, it may specify how interest or fees are calculated and what happens in the event of default. The core function of this clause is to provide a clear framework for asset lending transactions, thereby reducing uncertainty and managing the risks associated with lending arrangements.
Lending Program. No Mortgage Loan was originated pursuant to a federal, state or local “affordable housing,” “community lending” or other similar mortgage loan program. HomePossible, HomePossible Advantage, HomeReady, MyCommunity and all other similar or derivative loan programs not requiring alternative servicing activities shall not be considered a violation of this section.
Lending Program. Credit Human has established a lending program that it uses in conjunction with contractual relationships with manufactured home dealers. Under the program, the dealers submit to Credit Human applications from members for the purchase of manufactured homes. As a result, Credit Human has acquired an infrastructure, knowledge, personnel, and experience to enable it to oversee a lending program wherein the loans are secured by purchase money security interests in manufactured housing. Credit Union desires to establish a program whereby its members can borrow sums to be used by the members to purchase manufactured homes. Under the referral program when a Credit Union member is interested in purchasing a manufactured home or refinancing an existing manufactured home loan, Credit Union refers the member to Credit Human’s direct lending department. Credit Human will handle the application process, evaluate the application and if approved, will prepare the necessary documents for the establishment of the loan. Credit Human will also handle all of the closing processing on the loan.
Lending Program. No Mortgage Loan was originated pursuant to a federal, state or local “affordable housing,” “community lending” or other similar mortgage loan program.