FHMLC definition
Examples of FHMLC in a sentence
Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 Fidelity Bond American International Specialty Lines Insurance Policy form (“43350 12/90”) or otherwise in a form acceptable to FNMA or FHMLC, and shall protect and insure such Servicer against losses, including forgery, theft embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employees.
Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 Fidelity Bond American International Specialty Lines Insurance Policy form (“43350 12/90”) or otherwise in a form acceptable to FNMA or FHMLC, and shall protect and insure the Servicer against losses, including forgery, theft embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employees.
The accepted Reservation Request shall constitute the Participant's agreement to originate the particular Loan(s) as soon as practicable pursuant to the procedures set forth in the applicable Program Guide, and the GNMA Guide, the FHMLC Guide or FNMA guidelines, as applicable to the type of financing.
With respect to Ocwen Federal Bank FSB, such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 Fidelity Bond American International Specialty Lines Insurance Policy form ("43350 12/90" ) or otherwise in a form acceptable to FNMA or FHMLC, and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employees.
The accepted Reservation Request shall constitute the Participant's agreement to originate the particular Loan(s) as soon as practicable pursuant to the procedures set forth in the applicable Program Guide, the GNMA Guide, the FHMLC Guide or FNMA guidelines, as applicable to the type of financing.
It is anticipated that any FHMLC consent solicited by the Sellers in connection with such transfer will be part of the Sellers’ solicitation of FHLMC’s overall consent to the Transaction.
Neither the Seller nor either such Subsidiary has been suspended as a mortgagee or servicer by the FHA, the VA, FHMLC, FNMA or GNMA, and each of the Seller and CPM has facilities, procedures and experienced personnel necessary for the sound servicing of FHA, VA, FHMLC, FNMA and GNMA loans.
Mortgage pass‐through securities are issued by Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHMLC) and Federal National Mortgage Association (FNMA).
In the case of the Borrower, maintain at all times its status as an FNMA and FHMLC approved seller/servicer, a GNMA approved issuer/servicer, a HUD Direct Endorsement Lender, a VA-approved Lender and an FHA approved lender in good standing to the extent necessary to conduct its normal business.
The Sellers shall use commercially reasonable efforts to facilitate the transfer of the FHMLC mortgage servicing rights intended to be included in the Purchased Assts from LBHI to the Bank prior to the First Closing.