MHFC definition
Examples of MHFC in a sentence
For MH Loans originated by Dynex, or MH Loans originated by MHFC on or after March 31, 2000, the MH Loan was originated by a savings and loan association, savings bank, commercial bank, credit union, insurance company, or similar institution which is supervised and examined by a Federal or State authority, or by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act.
The provisions of this Section 29 apply separately to each Blocked Account and to BAC with respect to the Bloomfield Blocked Account, MHFC with respect to the MHFC Blocked Account, Dynex with respect to the Dynex Blocked Account, and to BAC's, MHFC's and Dynex's respective Servicers.
All costs, fees, and expenses incurred by the Qualified Originator in making or closing the MH Loan and the recording of the MH Loan were paid, and the Obligor is not entitled to any refund of any amounts paid or due under the MH Loan (other than lawful customary dealer or MHFC rebates conforming to the MH Underwriting Guidelines).
Dynex and Guarantor have requested and hereby consent to the termination of MHFC as a Seller under the Repurchase Agreement.
The applicable Seller (either MHFC or Dynex) shall be deemed to make the following representations and warranties to the Buyer with respect to each MH Loan sold in a Transaction hereunder, as of the related Purchase Date and as of each day such Transaction is in effect and except as shall be specifically disclosed in the schedule attached to the Request for Purchase.
However, MHFC and Dynex may act in the ordinary course of business as prudent lenders in connection with MH Loans in making modifications other than Significant Modifications (which must have prior approval from Buyer), prior to notifying Buyer, if any only if, such action will not impair Buyer's interest therein and MHFC or Dynex, as the case may be, notifies Buyer promptly upon making any such change.
Effective as of March 16, 2000, MHFC, Inc., a Michigan corporation ("MHFC"), executed that certain Term Promissory Note dated March 16, 2000 in the original principal amount of $2,700,000 (the "MHFC Note") in favor of Dynex Financial, Inc.
Assignor shall, at any time and from time to time, upon the written request of either Assignee, execute and deliver such further documents and do such further acts and things as either Assignee may reasonably request to effect the purposes of this Agreement, including, without limitation, noting on the original MHFC Note that Assignee is the holder of such note.
The provisions of this Section 29 apply separately to each Blocked Account and to BAC with respect to the Bloomfield Blocked Account and MHFC with respect to the St. Jame▇ ▇▇▇cked Account, and to BAC's and MHFC's respective Servicers.
The MHFC Note is secured by a security agreement (the "MHFC Security Agreement", and together with the MHFC Note, the "Collateral Documents") dated as of March 16, 2000 between MHFC and Dynex.