Examples of Mortgage Origination Agreement in a sentence
Application Agreement means the “Application for ADFA Approved Mortgage Lender” which proposed mortgage lenders must submit to ADFA for approval prior to the execution of any Mortgage Origination Agreement.
Prepayment means any monies, however derived, which are received or recovered by the Authority from any payment of, or with respect to, principal on any Mortgage Loan prior to scheduled payments of principal called for by such Mortgage Loan; provided, however, that no monies received or recovered by the Authority from the repurchase of a Mortgage Loan by a Mortgage Lender pursuant to any Mortgage Origination Agreement must be a prepayment.
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Requirement that the Master Servicer purchase a Mortgage Loan as a result of a failure of such Mortgage Lender to abide by the provisions of the Mortgage Origination Agreement and the Program Guide, and the failure of such Mortgage Lender to timely repurchase said Mortgage Loan upon receipt of proper notice; d.
Demonstrate the financial capacity to repurchase mortgages that do not meet performance and quality standards as defined in the Mortgage Origination Agreement.
Supplemental Notice means a written notice from the Authority to all affected Mortgage Lenders and the Master Servicer, by which the Authority exercises its reserved right to modify certain provisions of the Mortgage Origination Agreement and this Program Guide.
Upon the occurrence of an EPD with respect to any loan, the participating lender is obligated to repurchase the loan in accordance with the Mortgage Origination Agreement and the Program Manual.
At its sole discretion, the Authority reserves the right to suspend, modify, or terminate an approval should a Participating Lender fail to perform or provide information as required or requested according to the Mortgage Origination Agreement or as required by other program guidance.Suspension or termination will be in accordance to the terms of the Mortgage Origination Agreement.
Each lender executes a Mortgage Origination Agreement which imposes, among other things, requirements related to the use of confidential information.
The undersigned Lender, based on its own investigation and verification, hereby certifies that the above-referenced mortgage loan is a Mortgage Loan as defined by the Mortgage Origination Agreement executed between the Lender and the Issuer, among the Corporation, the Servicer, and the undersigned, as Lender, and complies with all covenants, warranties and representations made by the undersigned with respect to such mortgage loan as set forth in such HOME Origination Agreement.