Brokered Loan definition

Brokered Loan means an Eligible Loan in which the funds provided for settlement of the transaction were neither from PMG's own resources, nor from PMG having drawn upon a bona fide warehouse line of credit. Construction Loans, Employee Loans and House Loans are not Brokered Loans for purposes of this Exhibit A.
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Examples of Brokered Loan in a sentence

  • Broker’s obligations hereunder shall not be obviated by the fact that the property securing the Brokered Loan has been foreclosed upon and said property has been acquired by Lender or a third party, it being understood that Broker’s obligations encompass the repurchase of the property from Lender if Lender has acquired the property, or, if a third party has acquired the property, reimbursing Lender as set forth herein.

  • Banked Loan Production $ $ Brokered Loan Production $ $ TOTAL VOLUME $ $ Retail as % of Total % % TPO Loans as a % of Total % % Correspondent as a % of Total** % % TOTAL (Must = 100%) % % *Correspondent loans are defined as those that are purchased as closed loans from third parties.

  • Broker shall repurchase any Brokered Loan required to be repurchased pursuant to this Agreement within fifteen (15) calendar days after Broker’s receipt of written demand for repurchase from Lender.