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.
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.
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.
Examples of Correspondent Lender in a sentence
Seller is obligated to pay such fee to the Correspondent Lender as long as the applicable Mortgage Loan remains outstanding and the Mortgagor's Monthly Payment are current.
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.
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.
All references to “Countrywide’s Correspondent Lender Division Loan Purchase Program Seller’s Manual” or “Manual” throughout the LPA are replaced with “Countrywide’s Correspondent Lending Seller’s Guide” or “Guide”, respectfully.
At no time shall any Loan Party remove any item from the Locked Boxes without the prior written consent of the Agent, Canadian Correspondent Lender, or UK Correspondent Lender, as the case may be, and each Loan Party shall notify each customer or Account Debtor not to pay any Remittance to any other place or address without the prior written consent of the Agent, Canadian Correspondent Lender, or UK Correspondent Lender, as the case may be.
More Definitions of Correspondent Lender
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.
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. “Correspondent Lending Guide” means the “▇▇▇▇▇▇▇ ▇▇▇▇▇ Credit Corporation Seller Guide”, a copy of which has been provided to Cendant, which sets forth the terms and conditions applicable to the sale of Cendant Loans pursuant to either the Correspondent Lending Program or the Mortgage Broker Program, and which is amended from time to time by MLCC. “Correspondent Lending Program” means MLCC’s program of purchasing Cendant Loans from Correspondent Lenders pursuant to the terms and conditions of the Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. Such program also includes the underwriting of certain Cendant Loans referred by a Correspondent Lender to MLCC, which Cendant Loans are underwritten and delivered to MLCC in accordance with the Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. “Delegated Loans” mean those Cendant Loans originated and closed pursuant to and in accordance with the “Delegated Underwriting Program” (as such term is defined in the Correspondent Lending Guide). “Master Purchase Agreement” means a “Master Loan Purchase and Sale Agreement” entered into by MLCC and a Correspondent Lender, which agreement sets forth the terms and conditions pursuant to which a Correspondent Lender agrees to sell, and MLCC agrees to buy, Cendant Loans having such characteristics and in such aggregate principal amounts as are agreed to between MLCC and the applicable Correspondent Lender in accordance with the eligibility guidelines in the Correspondent Lending Guide and the applicable “Commitment”. “Mortgage Broker” means a Person engaged in the business of brokering mortgage loans and approved by MLCC, as of the date hereof or in accordance with the terms of this Addendum, to participate in the Mortgage Broker Program. “Mortgage Broker Guide” means the “Mortgage Broker Manual”, a copy of which has been provided to Cendant, which sets forth the terms and conditions applicable to Cendant Loans and Mortgage Brokers under the Mortgage Broker Program, as the same may be amended from time to time by MLCC. “Mortgage Broker Program” means MLCC’s program of underwriting Cendant Loans referred to MLCC by Mortgage Brokers.
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;
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. “Correspondent Lending Guide” means the “▇▇▇▇▇▇▇ ▇▇▇▇▇ Credit Corporation Seller Guide”, a copy of which has been provided to Cendant, which sets forth the terms and conditions applicable to the sale of Loans pursuant to the Correspondent Lending Program, as the same may be amended from time to time in accordance with the terms of this Addendum. “Correspondent Lending Program” means MLCC’s program of purchasing Loans from Correspondent Lenders pursuant to the terms and conditions of the Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. Such program also includes the underwriting of certain Loans sold by a Correspondent Lender to MLCC, which Loans are underwritten and delivered to MLCC in accordance with the ___Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. “Delegated Loans” mean those Loans originated and closed pursuant to and in accordance with the “Delegated Underwriting Program” (as such term is defined in the Correspondent Lending Guide). “Equity Access® Loans” shall mean home equity lines of credit offered to Borrowers under the Wholesale Lending Program. “Loans” means Portfolio Loans and Cendant Loans. “Master Purchase Agreement” means a Master Loan Purchase and Sale Agreement, a form of which is attached hereto as Exhibit C (which form of agreement may be
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.
Correspondent Lender means one of a number of correspondent lenders which has originated and subsequently sold loans to GMAC-RFC;
Correspondent Lender means a lender which does not meet all of the qualification