Examples of Mortgage Lenders in a sentence
Mortgage Loans to mortgagors receiving Entry Cost Assistance will be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest, (ii) the applicable Servicing Release Premium, and (iii) the amount of cash assistance provided by the Mortgage Lender for such Loan, as directed by the Authority.
After the Authority has reviewed and approved the Compliance Package, the Mortgage File will be reviewed by the Servicer pursuant to the Program Manual which sets forth procedures for all Mortgage Lenders by the Authority and Servicer, prior to the Purchase Date arranged for the Mortgage Loan between the Servicer and Mortgage Lender consistent with Section 4.09(b) and (f) hereto.
Upon termination, a Mortgage Lender shall turn over Mortgage Loans in process (at no compensation or fee therefore) for reallocation to other Mortgage Lenders to complete.
The Mortgage Lender recognizes that Mortgage Loans to be delivered by the Mortgage Lenders under this Agreement may form the primary security for, and the primary source of revenue for, the payment of the Bonds.
Mortgage Loans to mortgagors not receiving Entry Costs Assistance shall be acquired by the Servicer from the Mortgage Lenders at a price equal to 100% of the principal amount thereof plus (i) accrued interest and (ii) the applicable Servicing Release Premium.