ORIGINATION BUSINESS definition
ORIGINATION BUSINESS has the meaning specified in the Recitals.
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.
ORIGINATION BUSINESS means the wholesale residential mortgage loan origination business engaged in by Seller at the Origination Premises (defined below) immediately prior to Closing.
Examples of ORIGINATION BUSINESS in a sentence
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.
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.
More Definitions of ORIGINATION BUSINESS
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.