Common use of Meet the Bank’s Standards Clause in Contracts

Meet the Bank’s Standards. The PFI must have and maintain as one of its principal business purposes the origination or purchase of Mortgages of the type that the PFI will sell to the Bank under this Contract. In addition, the PFI, in the Bank’s judgment, must, at all times, have the capacity to purchase Mortgages for the Bank that meet the Bank’s standards and the standards generally imposed by other GSEs and private institutional Mortgage investors. Finally, the PFI must, at all times, satisfy the applicable requirements for sellers of Mortgages set forth in the Guides.

Meet the Bank’s Standards. The PFI must have and maintain as one of its principal business purposes purposes, the origination or purchase servicing of Mortgages of the type that the PFI will sell to the Bank service under this Contract. In addition, the PFI, in the Bank’s judgment, must, at all times, have the capacity to purchase service Mortgages for the Bank that meet in a manner satisfying the Bank’s servicing standards and the standards generally imposed by other GSEs and private institutional Mortgage investors. Finally, the PFI must, at all times, satisfy the applicable requirements for sellers servicers of Mortgages set forth in the Guides.