No Bankruptcy of Mortgagor Clause Samples
The "No Bankruptcy of Mortgagor" clause serves to affirm that the mortgagor (borrower) is not currently involved in any bankruptcy proceedings and has not filed for bankruptcy. In practice, this clause typically requires the mortgagor to represent and warrant their financial solvency at the time the mortgage agreement is executed, and may also obligate them to notify the mortgagee if bankruptcy proceedings are initiated in the future. Its core function is to protect the lender by ensuring the borrower's financial stability, thereby reducing the risk of default and potential complications in enforcing the mortgage.
No Bankruptcy of Mortgagor. None of the Mortgage Loans are subject to a bankruptcy plan. To the best of the Sellers’ knowledge, since the date of origination of the Mortgage Loan, the Mortgaged Property has not been subject to any bankruptcy proceeding or foreclosure proceeding and the Mortgagor has not filed for protection under applicable bankruptcy laws. There is no homestead or other exemption available to the Mortgagor that would interfere with the right to sell the Mortgaged Property at a trustee’s sale or the right to foreclose the Mortgage.
No Bankruptcy of Mortgagor. None of the Mortgage Loans are subject to a bankruptcy plan. (ss) Conformance to Underwriting Standards. Each Mortgage Loan was underwritten in accordance with the underwriting guidelines supplied to Buyer by Seller.
No Bankruptcy of Mortgagor. None of the Purchased Mortgage Loans are -------------------------- subject to a bankruptcy plan;
No Bankruptcy of Mortgagor. None of the Mortgage Loans are subject to a bankruptcy plan; (tt) Conformance to Underwriting Standards. Each Mortgage Loan conforms to the Seller's underwriting guidelines supplied to Buyer by Seller, or is an approved exception thereto, provided that such exception does not materially impact the value of such Mortgage Loan;
No Bankruptcy of Mortgagor. None of the Mortgage Loans are subject to a bankruptcy plan.
No Bankruptcy of Mortgagor. None of the Purchased Mortgage Loans are subject to a bankruptcy plan;