ORIGINATION BUSINESS definition

ORIGINATION BUSINESS means the businesses engaged in by Seller or the Subsidiary of originating, producing and acquiring retail or wholesale residential mortgage loans from the Origination Premises, as well as the Origination Support Business, excluding the residential mortgage loan business in the State of Texas except for the El Paso metropolitan area. The Origination Business does not include, by way of example only, the business engaged in by Seller of (i) activities related to Pipeline Mortgage Loans, (ii) performing administrative duties relating to Mortgage Loans under agreements that provide for payment to Seller or the Subsidiary of a servicing or subservicing fee, (iii) purchasing, selling or securitizing mortgage loans, (iv) telemarketing of mortgage loan originations, (v) originating "B&C" mortgage loans, (vi) refinancing of mortgage loans currently serviced by Seller or the Subsidiary, or (vii) originating home equity loans.
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ORIGINATION BUSINESS has the meaning specified in the Recitals.
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ORIGINATION BUSINESS means the mortgage loan origination business, including the solicitation, processing, originating, underwriting, documenting, and funding of mortgage loans, presently being conducted by Seller. The Origination Business as of the Closing Date shall include the Purchased Assets, the Assumed Liabilities and the Origination Practices of Seller.
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Examples of ORIGINATION BUSINESS in a sentence

  • CYCLICAL NATURE OF MORTGAGE ORIGINATION BUSINESS AND OTHER EFFECTS OF GENERAL ECONOMIC CONDITIONS Periods of economic slowdown or recession, rising interest rates or declining demand for real estate will adversely affect the Company's business.

  • WITHOUT LIMITING THE FOREGOING, NEITHER SELLER NOR ANY OF ITS AFFILIATES IS MAKING ANY REPRESENTATION OR WARRANTY TO BUYER WITH RESPECT TO (I) THE INFORMATION SET FORTH IN ANY EVALUATION MATERIALS PROVIDED TO BUYER OR (II) ANY FINANCIAL PROJECTION OR FORECAST OR OTHER STATEMENT RELATING TO THE BUSINESS OF SELLER, THE ORIGINATION BUSINESS, THE ACQUIRED ASSETS OR THE ASSUMED LIABILITIES EXCEPT THE REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT.

  • NEITHER SELLER NOR ANY OF ITS AFFILIATES IS MAKING ANY REPRESENTATIONS OR WARRANTIES, WRITTEN OR ORAL, STATUTORY, EXPRESS OR IMPLIED, CONCERNING SELLER, THE ACQUIRED ASSETS, THE ASSUMED LIABILITIES OR THE ORIGINATION BUSINESS EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT.


More Definitions of ORIGINATION BUSINESS

ORIGINATION BUSINESS means the wholesale residential mortgage loan origination business engaged in by Seller at the Origination Premises (defined below) immediately prior to Closing.
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Related to ORIGINATION BUSINESS

  • Generation Business means the licensed business (if any) of the Licenseeand any affiliate or related undertaking of the Licensee in the generation of electricity or the provision of Ancillary Services;

  • Transferred Business has the meaning ascribed to such term in the Separation Agreement.

  • Distribution Business means the business of operating and maintaining a distribution system for supplying electricity in the area of supply of the Distribution Licensee;

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Air Transportation Business means the carriage by aircraft of persons or property as a common carrier for compensation or hire, or carriage of cargo or mail by aircraft, in air commerce, as defined in 49 U.S.C. § 40102, as amended.

  • Subject Business means the policy or policies that are the subject of the Insurance Business Transfer Plan.

  • food business operator means the natural or legal persons responsible for ensuring that the requirements of food law are met within the food business under their control;

  • Parent Business shall have the meaning set forth in the Separation and Distribution Agreement.

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Micro Business means a company which either:

  • Group care facility means an agency, other than a foster-family home, which is maintained and operated for the care of a group of children on a 24 hour basis. RCW 74.15.020

  • Specified Business means a business of a kind prescribed by the regulations to be a specified business; tenant, in relation to a lease, means the person who, under the lease, is or would be entitled to occupy the premises the subject of the lease; Tribunal means the State Administrative Tribunal;

  • Resident Business or “Resident Contractor” means an entity that has a valid resident certificate issued by the NM Taxation and Revenue Department pursuant to Section 13-1-22 NMSA 1978.

  • Authorized business means 1 of the following:

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.

  • Trust business means the business of acting as trustee, executor or administrator;

  • Qualified business means an eligible business that:

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • Engaging in business means commencing, conducting, or continuing in business, and liquidating a business when the liquidator thereof holds itself out to the public as conducting such business. Making a casual sale is not engaging in business.

  • Qualified business facility means any building, complex of

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Retained Businesses means all businesses now, previously or hereafter conducted by Parent, the Sellers or any of their Subsidiaries or Affiliates, other than the Business.

  • Principal Business means the primary activity as determined by analyzing the amount of capi- tal, labor, time, attention, and floor space devoted to each business activity and by analyz- ing the sources of net income and gross income. The name, appearance, and advertising of the entity may also be taken into consideration if they are given less weight.

  • Excluded Businesses means Business types which are excluded from application for an Inter-Community Business Licence and includes those Business types referred to in Schedule “A”.