Input Error definition
Input Error means Customer’s placement or omission, whether intentional by advisement, directive, policy, or procedure, negligent, inadvertent, by default, or otherwise, of any Loan-Specific Information, character or other information into any data entry field in the Software, or into any other software product that exports any Loan- Specific Information, character or other information to, or from which any Loan-Specific Information, character or other information is otherwise uploaded into the Software that is directly or indirectly inconsistent or incompatible with either (a) the production of TILA Calculations that are computed accurately within legally permissible tolerances established under TILA and Regulation Z, or (b) the selection or completion, or both, of any of the Uniform Instruments, Federally-Mandated Documents, State-Mandated Documents, and any applicable Non-Uniform Instruments. Input Error includes, by way of example and not limitation, the following: the mis- designation or mischaracterization of the terms of the applicable Mortgage Loan program; the failure to disclose all finance charges, other fees, or premiums; the misstatement of the security for the Mortgage Loan; the misstatement of the existence or amount of any premiums for credit insurance or fees for debt cancellation coverage on the Mortgage Loan, or the fact that such insurance or coverage is required; the misstatement of the assumability of the Mortgage Loan; the misstatement of the obligation of the obligor(s) on the Mortgage Loan to pay a prepayment fee or the amount of the prepayment fee; the misstatement of the terms or amount of any mortgage insurance premiums; the misstatement of the allocation of Mortgage Loan proceeds; the misstatement of the existence of a demand feature; the misstatement of the existence of a required deposit; the misstatement of the existence, nature, or amount of any, seller, consumer or lender split, or other buy-down or subsidy arrangement affecting the Mortgage Loan; the misstatement of the rebatable status of any prepaid finance charge; the misstatement of the purpose of the Mortgage Loan; the misstatement of the name of the creditor or the obligor(s) in the Mortgage Loan transaction; the misstatement of the interest rate of the Mortgage Loan; the misstatement of the Mortgage Loan's funding date, closing date, signing date, consummation date, disbursement date or other date; the misstatement of the existence or nature of any discount or premium arrangem...