Exception Mortgage Loans definition

Exception Mortgage Loans. A Mortgage Loan that has been underwritten in accordance with the Underwriting Guidelines, but for which one or more exceptions to those guidelines have been allowed. Each Exception Mortgage Loan, along with the applicable exceptions, shall be identified on Schedule II attached to the related Assignment and Conveyance Agreement.
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Examples of Exception Mortgage Loans in a sentence

  • All references to “Underwriting Guidelines” in the foregoing representation and warranties with respect to the W▇▇▇▇ Fargo Mortgage Loans are hereby replaced with “Underwriting Guidelines with respect to the Seller Mortgage Loans (other than the exceptions identified for Exception Mortgage Loans on the related Assignment and Conveyance Agreement) or the Third-Party Underwriting Guidelines with respect to Third-Party Mortgage Loans, as applicable”.

  • All references to “Underwriting Guidelines” in this Exhibit A are hereby replaced with “Underwriting Guidelines with respect to the Seller Mortgage Loans (other than the exceptions identified for Exception Mortgage Loans on the related Assignment and Conveyance Agreement) or the Third-Party Underwriting Guidelines with respect to Third-Party Mortgage Loans, as applicable”.

  • If all required documentation has not been received within 90 days after the delivery of the schedule of Schedule of Document Exception Mortgage Loans pursuant to Section 2.08.02, Purchaser shall be entitled to retain the portion of the remaining Purchase Price held in accordance with this subparagraph (D).

  • All references to “Underwriting Guidelines” in the Agreement are hereby replaced with “Underwriting Guidelines with respect to the Seller Mortgage Loans (other than the exceptions identified for Exception Mortgage Loans on the related Assignment and Conveyance Agreement) or the Third-Party Underwriting Guidelines with respect to Third-Party Mortgage Loans, as applicable”.

  • The proceeds of the Mortgage Loan have been fully disbursed, except for escrows established or created due to seasonal weather conditions, as allowed under the Underwriting Guidelines (other than the exceptions identified for the Exception Mortgage Loans) or the Third-Party Underwriting Guidelines, as applicable, and there is no requirement for future advances thereunder.

  • The Mortgage Loans as to which a Critical Exception exists as of the date hereof (collectively, the "Critical Exception Mortgage Loans") are identified on Schedule 3 hereto.

  • Within 90 calendar days from the applicable Transfer Date, Buyer shall transmit to Seller a schedule of Mortgage Loans with respect to which the Mortgage File does not contain all of the documents required by Exhibit B (the "Document Exception Mortgage Loans").