Correspondent Lender definition

Correspondent Lender. A mortgage banking related entity which originates Mortgage Loans in its own name, using its own funds, which Mortgage Loans are purchased by MLCC under its Correspondent Lending Program.
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Correspondent Lender means a lender which does not meet all of the qualification requirements for designation as, or has not made an Application as a Participating Lender pursuant to the terms of the Mortgage Purchase Agreement, but wishes to originate loans under the Program under an agreement executed by a Participating Lender, wherein such Correspondent Lender is approved by the Participating Lender to originate and sell, transfer, or assign to the Participating Lender, Mortgage Loans under the Indenture.
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Correspondent Lender means a Person in the business of originating, making and selling first lien residential mortgage loans secured by a mortgage on one-to-four family dwellings.
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Examples of Correspondent Lender in a sentence

  • The Authority reserves the right to limit the number of Correspondent Lenders and may rescind approval of a Correspondent Lender at any time with (prior) written notice.

  • Correspondent Lender Loans must be approved and submitted by the Sponsoring Participating Lender.

  • A Participating Lender may sponsor a "Correspondent Lender" with the prior written approval of the Authority.

  • The Sponsoring Participating Lender will be required to meet and provide evidence of a minimum tangible net worth of$1,000,000 in order to sponsor a Correspondent Lender.

  • Veterans Administration (VA) and Federal Housing Administration (FHA) approval are not required.An approved Correspondent Lender may originate home mortgage loans on behalf of a Sponsoring Participating Lender.

  • Correspondent Lender Participant 2.100 PRIMARY LENDER ELIGIBILITY The Primary Lender originates loans through a wholesale or retail channel and/or purchases closed loans from its approved Correspondent Lenders for delivery to the Administrator and purchase by the VLB.

  • A Correspondent Lender may originate process, underwrite and fund VLB eligible loans for delivery and purchase by the Primary Lender, or may limit its production activities to origination and processing only and rely upon its Primary Lender or a designated Correspondent Lender to underwrite and fund eligible loans.

  • This Agreement, the exhibits and schedules hereto, the Transaction Documents, the License Agreement and the Correspondent Lender Agreement contain or will contain the entire agreement between the parties hereto with respect to the transactions contemplated herein and shall supersede all previous oral and written and all contemporaneous oral negotiations, commitments, and understandings.

  • CHFA may terminate a Participating or Correspondent Lender for any reason.

  • Under the Correspondent Lending Program, Seller may, from time to time, agree to pay a Correspondent Lender a Correspondent Trailing Premium ("CTP") 0.125% to 0.75% of the annualized principal balance of the applicable Mortgage Loan, less an administrative fee.


More Definitions of Correspondent Lender

Correspondent Lender means a person engaged in the business of making mortgage loans in such person's own name where the loans are not held by such person for more than ninety days and are funded by another person through a warehouse agreement, table funding agreement or similar agreement;
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Correspondent Lender means a lender that does not meet all of the qualification requirements for designation as, or has not made an Offer to Participate as, a Lender pursuant to the terms of this Agreement, but wishes to originate Mortgage Loans under a particular Program Installment pursuant to a correspondent designation agreement, executed by Lender, wherein such Correspondent is approved by Lender to originate and sell, transfer, or assign to Lender, Mortgage Loans originated under a particular Program Installment and related Program Notice.
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Correspondent Lender. A mortgage banking related entity from which MLCC purchases Mortgage Loans under its Correspondent Lending program, as such program is more fully described in the Prospectus Supplement dated December 16, 1999.
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Correspondent Lender means a lender which does not meet all of the qualification
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Correspondent Lender means one of a number of correspondent lenders which has originated and subsequently sold loans to GMAC-RFC;
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Correspondent Lender. A mortgage banking related entity from which MLCC -------------------- purchases Mortgage Loans under its Correspondent Lending program, as more fully described in the Prospectus Supplement dated March 19, 1997.
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Related to Correspondent Lender

  • Purchasing Lender shall have the meaning set forth in Section 16.3(c) hereof.

  • Replacement Lender shall have the meaning provided in Section 2.13.

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Purchasing Lenders shall have the meaning set forth in Section 9.6(c).

  • Affiliate Lender shall have the meaning assigned to such term in Section 9.21(a).

  • PPP Lender means JPMorgan Chase Bank, N.A.

  • Selling Lender has the meaning specified in Section 11.7 (

  • Subject Lender has the meaning assigned to that term in subsection 2.9.

  • Designated Lender shall have the meaning set forth in Section 16.2(b) hereof.

  • Additional Commitment Lender shall have the meaning provided in Section 2.15(c).

  • Lender Participation Notice has the meaning specified in Section 2.05(d)(iii).

  • Participating Bank means any participating banks of the JETCO ATM network, (if applicable) PLUS ATM network and/or (if applicable) China UnionPay ATM network;

  • Tax Lender has the meaning specified therefor in Section 14.2(a) of the Agreement.

  • Delinquent Lender has the meaning provided in SECTION 8.15.

  • Other Lender has the meaning ascribed to it in Section 8.5(d).

  • Project Lender means a commercial bank, savings bank, savings and loan association, credit union or other financial institution that has loaned funds to the Developer to be used for construction of the Redevelopment Project and has secured such loan with a mortgage or security interest in the Redevelopment Project.

  • Assignee Lender is defined in Section 10.11.1.

  • Lender Affiliate means, (a) with respect to any Lender, (i) an Affiliate of such Lender or (ii) any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by a Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

  • Designating Lender means, with respect to each Designated Lender, the Lender that designated such Designated Lender pursuant to Section 12.1.2.

  • Departing Lender means each lender under the Existing Credit Agreement that executes and delivers to the Administrative Agent a Departing Lender Signature Page.

  • Non-BA Lender means a Lender that cannot or does not as a matter of policy accept or purchase Bankers’ Acceptances.

  • New Revolving Lender as defined in Section 2.24.

  • Identified Participating Lenders has the meaning set forth in Section 2.05(a)(v)(C)(3).

  • New Lender as defined in Section 2.1(c).

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Committed Lender means, as to any Lender Group, each of the financial institutions listed on Schedule I as a “Committed Lender” for such Lender Group, together with its respective successors and permitted assigns.