FMN definition

FMN means First Merchants Acceptance Corporation of Nevada, a Nevada corporation and a wholly-owned subsidiary of FMAC.
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Examples of FMN in a sentence

  • FMN shall operate initially under this Agreement as a loan correspondent with warehouse lines of credit available for loan funding.

  • ILSI and FMN each commit to working to reduce costs throughout the loan process and sharing cost-saving data with each other.

  • ILSI shall transmit the loan application information gathered during the Inquiry through Short Application stages to FMN for further processing as described in Article II below.

  • The parties therefore agree that time is of the essence in all processing tasks involving communications with prospective borrowers, and that prompt communications are an essential element of the origination task for which FMN is engaged.

  • Nothing in this Agreement shall be construed as preventing FMN from providing services of any kind in support of the origination of subprime loans on the Internet, provided, however, that FMN will give ILSI 10 days notice of its intention to offer such services, followed by a reasonable period, not to exceed 10 days, in which ILSI may notify FMN of its desire to participate with FMN in the offering of such services on a joint basis to be determined by the parties.

  • MC shall cooperate with ILSI in identifying MC products and services on the Website, through "Quicken"-related portals, co-branded sites and in other media and communications with consumers in connection with "Quicken" as "FMN" and/or "First Mortgage Network" products and services.

  • ILSI shall assist in collecting information from the borrower to complete the FNMA/FHLMC Form 1003 loan application form ("Form 1003"), provide facilities and software to enable ILSI and FMN to obtain credit reports online, perform automated underwriting, order appraisal reports online, conduct home valuation using automated tools, create and send required verification letters, and perform other ancillary services and provide additional items as deemed appropriate by the parties ("Enhanced Application").

  • FMN shall install the FMN CLOser(R) in ILSI offices and on its computer networks and shall train ILSI personnel in ILSI offices in its use.

  • Thus, either or both FMN and ILSI may conduct specific processing tasks for ILSI Loans prior to closing and funding; however, the parties agree to work together to ensure that the services provided are not duplicative.

  • FMN will not seek to hold ILSI liable in any action prosecuted against FMN by a borrower, government agency, or other party which alleges non-compliance with the laws applicable to originators of mortgage loans, provided that neither the bad faith or wilful misconduct of ILSI materially contributed to the circumstances giving rise to the claim against FMN.

Related to FMN

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