Reg. Section 1.860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary period). Any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans;
Appears in 13 contracts
Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He1), Mortgage Loan Purchase Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-2), Mortgage Loan Purchase Agreement (First Franklin Mortgage Loan Trust, Series 2007-FFC)
Reg. Section 1.860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary periodperiod and as determined based on the maximum line of credit, rather than the actual amount drawn, with respect to any Mortgage Loan that is a home equity line of credit). Any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans;
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-Sl1)
Reg. Section 1.860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary period). Any breach of this representation shall be deemed to materially and adversely affect the value interests of the owner of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans; (31) No Mortgage Loan provides for interest other than at either (i) a single fixed rate in effect throughout the term of the Mortgage Loan or (ii) a "variable rate" (within the meaning of Treas. Reg. Section 1.860G 1(a)(3)) in effect throughout the term of the Mortgage Loan;
Appears in 1 contract
Samples: Mortgage Loan Purchase Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1)
