Common use of Type of Mortgaged Property Clause in Contracts

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a hoxx xxxch is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a hoxx xxxch homx xxxxh is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "“warrantable" ” with respect thereto or "“nonwarrantable" ” if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Xxxxxx Mae guidelines, an earthen home, underground home or a hoxx xxxch home which is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a hoxx xxxch is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit a family dwelling in a planned unit development, or (or, with respect to each Co-op Loan, ) an individual unit in a residential cooperative housing corporation), or a townhouse; provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit Except as provided by Xxxxxx Xxx or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No Xxxxxxx Mac guidelines, no portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans Mortgaged Properties are considered agricultural loans. No Manufactured Homes, log homes, mobile homes, geodesic domes or other unique property types; provided, however, the Mortgaged Property consists of may be a log home except as permitted pursuant to if the Fannie Mae guidelines, an earthen home, underground home or Mortgaged Property is located in a hoxx xxxch is situated on more than forty acres geographic area in which log homes are a common type of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "“warrantable" ” with respect thereto or "“nonwarrantable" ” if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Fxxxxx Mae guidelines, an earthen home, underground home or a hoxx xxxch home which is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a hoxx xxxch homx xxxxh is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estate that consists of a single parcel of real property with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or an individual unit in a planned unit development, (or, with respect to each Co-op Loan, an individual unit in a residential cooperative housing corporation); provided, however, that any condominium unit, planned unit development or residential cooperative housing corporation shall conform with the Underwriting Guidelines. Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the Underwriting Guidelines. No portion of the Mortgaged Property (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a hoxx xxxch home xxxxx is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are made for the purchase of land only. This representation and warranty is a Deemed Material and Adverse Representation;