Mortgage Loan File definition
Examples of Mortgage Loan File in a sentence
In the event that any such original document is required pursuant to the terms of this Section 2.1(b) to be a part of the Mortgage Loan File, such document shall be delivered promptly to the Certificate Administrator (in its capacity as the Custodian).
Any review of the Mortgage Loan File by the Certificate Administrator (in its capacity as the Custodian) and any certification with respect thereto shall not be deemed by the parties to this Agreement to constitute “due diligence services” or a “third party due diligence report” as such terms are defined in Rule 17g-10 and 15Ga-2, respectively, under the Exchange Act.
The ownership of the Trust Notes, the Mortgage, the Collateral Security Documents and all other contents of the Mortgage Loan File shall be vested in the Trust or the Trustee in trust for the benefit of the Certificateholders and, except for the Trust Notes, for the benefit of the Companion Loan Holders.
The Mortgage Loan File with respect to such Eligible Mortgage Loan contains either a valuation or an appraisal of the related Mortgaged Property meeting the requirements set forth by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, unless such valuation or appraisal, as applicable, is not required by the applicable Loan Program Authority, or applicable regulatory or licensing body.
Each Custodian shall be subject to the same obligations and standard of care as would be imposed on the Certificate Administrator hereunder in connection with the retention of the Mortgage Loan File directly by the Certificate Administrator.