FHLBI definition
Examples of FHLBI in a sentence
The Seller has either delivered electronically a database of conforming conventional loans or in the case of Pool Aggregation the applicable sample created by FHLBI (“Representative Sample”) which represents the expected composition of the Mortgages under this Master Commitment.
The composition of the sellers included within any Aggregated Pool will be at the sole discretion of the FHLBI and the FHLBI can at any time exclude or add sellers to the Aggregated Pool without notice or approval from Seller.
FHLBI has complete discretion in granting loan level exceptions to all Aggregated Pool sellers but such exceptions will only be granted on a limited basis in order that the Aggregated Pool must maintain an AMA Investment Grade rating as determined by applicable regulation and the FHLBI ratings methodology.
Seller also acknowledges that any FHLBI seller of loans may participate in any Aggregated Pool and that Seller has no right to choose sellers included or excluded in the Aggregated Pool.
However, Sellers requesting an MCC of $100 million or less will be required to participate in the existing pool aggregation program, unless otherwise agreed to by FHLBI.
FHLBI will at no time disclose to sellers participating in the Aggregated Pool the identity of any other seller participants.
The Bank is a member of the FHLBI, and its deposits are insured by the SAIF in the manner and to the extent provided by law.
Seller further agrees to provide the FHLBI with duplicate copies of all notices or other communications to or from Participant pursuant to this Agreement with respect to such Ownership Interest.
Seller specifically acknowledges that Participant may (and shall have the right to) pledge an Ownership Interest in a Mortgage Loan to the Federal Home Loan Bank of Indianapolis (“FHLBI”) as collateral under an Advances, Pledge and Security Agreement by and between Participant and FHLBI (the “APSA”).
Notwithstanding anything in this Agreement to the contrary, Seller further acknowledges and agrees that during such time as this Certificate is pledged to the FHLBI, (i) Participant and Seller will hold the Mortgage Loan Documents in trust for the benefit of both Participant and the FHLBI, as their interests may appear, and (ii) the FHLBI shall have the right to take possession and ownership of the Ownership Interest pursuant to the APSA.