Review of Loan Files Sample Clauses

Review of Loan Files. Purchaser reserves the right to conduct a 100% review of the Mortgage Loan Files to be purchased, with the results of such due diligence review to be communicated to the Seller prior to the Closing Date. In addition, the Purchaser is entitled to obtain BPO's on the Mortgaged Properties. The Purchaser, in its sole discretion, reserves the right to reject any Mortgage Loan from this Purchase Transaction which does not conform to either the Seller's underwriting guidelines or prudent secondary market underwriting standards for similar mortgage loans, or on which the property valuation obtained by the Purchaser has a value decline of greater than 15% from the lesser of the original appraised value of the Mortgaged Property or the purchase price of the Mortgaged Property at the time of the origination of the related Mortgage Loan. The Purchaser reserves the right to conduct such due diligence reviews and property valuations and require a Seller repurchase of any Mortgage Loans with either due diligence or property value issues for a period of up to 30 days after the Closing Date. Any review performed by the Purchaser prior to or after the Closing Date does not limit Purchaser's rights or Seller's obligations under the Agreement. The Seller shall make available all credit files in order for the Purchaser to complete a full data verification review, which includes but is not limited to capturing all CRA/HMDA required data fields.
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Review of Loan Files. The Custodian, on behalf of the Trustee, for the benefit of the Noteholders shall review the Loan Files as provided in Section 2.11 of the Sale and Servicing Agreement.
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Review of Loan Files. The Purchaser may conduct a 100% due diligence review of the Mortgage Loan legal and credit files for the purpose of ensuring conformity with the underwriting guidelines, the terms of this Commitment Letter, the MLPA and the Agreement. In addition, the Purchaser is entitled to obtain BPO’s or other property evaluations on the Mortgaged Properties. The Purchaser reserves the right to reject any Mortgage Loan from the Purchase Transaction which does not conform to the Seller’s underwriting guidelines, this letter, the Agreement or the MLPA. Any review performed by the Purchaser prior to the Closing Date does not limit the Purchaser’s rights or Seller’s obligations under the Agreement, thereafter. The Purchaser may conduct additional due diligence reviews of the credit files after the Closing Date.
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Review of Loan Files. Seller will permit representatives of Purchaser to have full access at all reasonable times, and in a manner so as not to interfere with the normal business operations of Seller to all Loan Files.
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Review of Loan Files. Prior to the Closing Date, the Purchaser may, at its sole expense, conduct a 100% due diligence and compliance review of the Mortgage Loan legal and credit files. In addition, the Purchaser is entitled, at its own expense, to obtain BPO’s or other property valuations on the Mortgaged Properties. The Purchaser reserves the right to reject any Mortgage Loan from this Purchase Transaction which does not conform to the applicable underwriting guidelines set forth in the Underlying Agreements in place at the time of origination. Purchaser shall notify the Seller of any such rejected Mortgage Loan no later than 4 business days prior to the Closing Date. Any review performed by the Purchaser prior to the Closing Date does not limit Purchaser’s rights or Seller’s obligations under this Purchaser Price and Terms Letter or the Assignment and Assumption Agreements, thereafter. The Seller shall, on request by the Purchaser, authorize the Servicer to make available all credit files in order for the Purchaser to complete a full data verification review, which includes capturing all CRA/HMDA required data fields. The Seller shall, on request by the Purchaser, authorize the Servicer to ship overnight the credit files to the Purchaser or its designee for review. The review may be done either prior to or subsequent to the Closing Date.
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Related to Review of Loan Files

  • Review of Custodial Files The Custodian agrees, for the benefit of Certificateholders, to review, in accordance with the provisions of Section 2.02 of the Pooling and Servicing Agreement, each Custodial File and to provide the initial and final certifications in the forms of Exhibits N and O to the Pooling and Servicing Agreement in accordance with the provisions thereof. If in performing the review required by this Section 2.3 the Custodian finds any document or documents constituting a part of a Custodial File to be missing or defective, the Custodian shall follow the procedures specified in the Pooling and Servicing Agreement.

  • Mortgage Loan Files Section 9.1 Owner Mortgage Loan Files and Retained Mortgage Loan Files

  • Review of Mortgage Files (a) On or prior to the Closing Date, in accordance with Section 2.02 of the Pooling and Servicing Agreement, the Custodian shall deliver to the Trustee an Initial Certification in the form annexed hereto as Exhibit One evidencing receipt (subject to any exceptions noted therein) of a Mortgage File for each of the Mortgage Loans listed on the Schedule attached hereto (the "Mortgage Loan Schedule").

  • Review of Mortgage File The parties hereto acknowledge that the Custodian will be required to review the Mortgage Files pursuant to Section 2.02 of the Pooling and Servicing Agreement and if it finds any document or documents not to have been properly executed, or to be missing or to be defective on its face in any material respect, to notify the Purchaser, which shall promptly notify the Seller.

  • Complete Servicing File All documents comprising the Servicing File will be or have been delivered to the Master Servicer with respect to each Mortgage Loan by the deadlines set forth in the Pooling and Servicing Agreement and/or this Agreement.

  • Conveyance of Mortgage Loans; Possession of Servicing Files The Seller, simultaneously with the delivery of the Mortgage Loan Schedule with respect to the related Mortgage Loan Package to be purchased on each Closing Date, shall execute and deliver an Assignment and Conveyance Agreement in the form attached hereto as Exhibit H (the "Assignment and Conveyance Agreement"). The Seller shall cause the Servicing File retained by the Originator pursuant to this Agreement to be appropriately identified in the Seller's computer system and/or books and records, as appropriate, to clearly reflect the sale of the related Mortgage Loan to the Purchaser. The Seller shall cause the Originator to release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement or the Servicing Agreement, except when such release is required in connection with a repurchase of any such Mortgage Loan pursuant to Subsection 9.03.

  • Contract for Servicing; Possession of Servicing Files The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer, subject to the terms of this Agreement, for the servicing of the Mortgage Loans. On or before the Closing Date or Servicing Transfer Date, as applicable, the Seller shall cause to be delivered the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule to the Servicer. Each Servicing File delivered to a Servicer shall be held in trust by such Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage, and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be segregated from the other books and records of the Servicer and shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement.

  • Complete Mortgage File With respect to each Mortgage Loan, to the extent that the failure to deliver the same would constitute a “Material Document Defect” in the Pooling and Servicing Agreement and/or Mortgage Loan Purchase Agreement, (i) a copy of the Mortgage File for each Mortgage Loan and (ii) originals or copies of all financial statements, appraisals, environmental reports, engineering reports, seismic assessment reports, leases, rent rolls, Insurance Policies and certificates, legal opinions and tenant estoppels in the possession or under the control of such Mortgage Loan Seller that relate to such Mortgage Loan, will be or have been delivered to the Master Servicer with respect to each Mortgage Loan by the deadlines set forth in the Pooling and Servicing Agreement and/or Mortgage Loan Purchase Agreement. For the avoidance of doubt, the Mortgage Loan Seller shall not be required to deliver any attorney-client privileged communication, draft documents or any documents or materials prepared by it or its Affiliates for internal uses, including without limitation, credit committee briefs or memoranda and other internal approval documents.

  • Custodian to Cooperate: Release of Mortgage Files Upon receipt of written notice per Exhibit Four or Electronic Release Request per Exhibit Five from the Trustee that EMC has repurchased a Mortgage Loan pursuant to Article II of the Pooling and Servicing Agreement, and a request for release (a “Request for Release”) confirming that the purchase price therefore has been paid as required under the Pooling and Servicing Agreement, then the Custodian agrees to promptly release to EMC the related Mortgage File. Upon the Custodian’s receipt of a Request for Release substantially in the form of Exhibit Four or Three attached hereto or Electronic Release Request per Exhibit Five, stating that it has received payment in full of a Mortgage Loan or that payment in full will be escrowed in a manner customary for such purposes, the Custodian agrees promptly to release to the Master Servicer, the related Mortgage File. The Depositor shall deliver to the Custodian and the Custodian agrees to review in accordance with the provisions of the Custodial Agreement the Mortgage Note and other documents constituting the Mortgage File with respect to any Replacement Mortgage Loan. From time to time as is appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer shall deliver to the Custodian a Request for Release per Exhibit Four or Electronic Release Request per Exhibit Five requesting that possession of all of the Mortgage File be released to the Master Servicer and certifying as to the reason for such release. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File to the Master Servicer. The Master Servicer shall cause each Mortgage File or any document therein so released to be returned to the Custodian when the need therefore by the Master Servicer no longer exists, unless (i) the Mortgage Loan has been liquidated, or (ii) the Mortgage File or such document has been delivered to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property.

  • Servicing of Mortgage Loans From and after the Effective Date, the Servicer does hereby agree to service the Mortgage Loans, but subject to the terms of this Agreement. The rights of the Owner to receive payments with respect to the Mortgage Loans shall be as set forth in this Agreement.

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