Underwriting Criteria definition
Underwriting Criteria. Each Mortgage Loan [was underwritten generally in accordance with Countrywide's credit underwriting guidelines in effect at the time such Mortgage Loan was originated] [conforms to the Fannie Mae or Freddie ▇ac m▇▇▇▇▇▇▇ eligibility criteria (as such criteria applies to Countrywide) and is eligible for sale to, and securitization by, Fannie Mae or Freddie Mac] [at the time of origination was ▇▇▇▇▇▇ritten to ▇▇▇▇▇lines which are consistent with an institutional investor-quality mortgage loan]. Kindly acknowledge your agreement to the terms of this Purchase Confirmation by signing in the appropriate space below and returning this Purchase Confirmation to the undersigned. Telecopy signatures shall be deemed valid and binding to the same extent as the original. Sincerely, Agreed to and Accepted by: COUNTRYWIDE HOME LOANS, INC. GOLDMAN SACHS MORTGAGE COMPANY By:___________________________ By: Name: --------------------------------------- Title: Name: Celia Coulter Title: Executive Vice President EXHIBIT 4 AMENDMENT REG AB EXECUTION VERSION AMENDMENT REG AB TO THE MASTER MORTGAGE LOAN PURCHASEAND SERVICING AGREEMENT This is Amendment Reg AB ("Amendment Reg AB"), dated as of January 1, 2006 by and between Goldman Sachs Mortgage Company (the "Purchaser"), and Countrywide H▇▇▇ ▇▇▇ns, Inc. (the "Company") to that certain Master Mortgage Loan Purchase Agreement dated as of July 1, 2004 by and between the Company and the Purchaser and that certain Servicing Agreement dated as of July 1, 2004 by and between Countrywide Home Loans Servicing, LP and the Purchaser (as amended, modified or supplemented, the "Existing Agreement").
Underwriting Criteria. Each Mortgage Loan [was underwritten generally in accordance with Countrywide's credit underwriting guidelines in effect at the time such Mortgage Loan was originated] [conforms to the Fannie Mae or Freddie Mac mortgage eligibility criteria (as such criter▇▇ ▇▇▇lies to ▇▇▇▇▇▇▇wide) and is eligible for sale to, and securitization by, Fannie Mae or Freddie Mac] [conforms in all material respects to the GN▇▇ ▇▇▇tgage el▇▇▇▇▇▇▇ty criteria and is eligible for sale and securitization into a GNMA mortgage-backed security] [at the time of origination was underwritten to guidelines which are consistent with an institutional investor-quality mortgage loan]. Kindly acknowledge your agreement to the terms of this Purchase Confirmation by signing in the appropriate space below and returning this Purchase Confirmation to the undersigned. Telecopy signatures shall be deemed valid and binding to the same extent as the original. Sincerely, Agreed to and Accepted by: COUNTRYWIDE HOME LOANS, INC. SUTTON FUNDING LLC By: _____________________________________ By: ____________________________ Name: Darren Bigby Title: Title: Name: EXHIBIT A to PURCHASE CONFIRMATION MORTGAGE LOAN SCHEDULE (attached) EXHIBIT B to PURCHASE CONFIRMATION CALCULATION OF PURCHASE PROCEEDS (attached) EXHIBIT C to PURCHASE CONFIRMATION MISSING CREDIT DOCUMENTS ---------------------- ---------------------------------- ------------------ LOAN COUNT LOAN NUMBER DOCUMENT ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ EXHIBIT D to PURCHASE CONFIRMATION PENDING MORTGAGE LOANS ---------------------- ---------------------------------- ------------------ LOAN COUNT LOAN NUMBER DOCUMENT ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ ---------------------- ---------------------------------- ------------------ EXHIBIT C [RESERVED] EXHIBIT D FORM OF TRADE CONFIRMATION [COUNTRYWIDE LETTERHEAD] [DATE] Sutton Funding LLC c/o Global ...
Underwriting Criteria. Each Mortgage Loan [was underwritten generally in accordance with Countrywide's credit underwriting guidelines in effect at the time such Mortgage Loan was originated] [conforms to the Fannie Mae or Freddie Mac mortgage e▇▇▇▇▇▇l▇▇▇ cri▇▇▇▇▇ (as such criteria applies to Countrywide) and is eligible for sale to, and securitization by, Fannie Mae or Freddie Mac] [at the t▇▇▇ ▇▇ origina▇▇▇▇ ▇▇s underwritten to guidelines which are consistent with an institutional investor-quality mortgage loan]. Kindly acknowledge your agreement to the terms of this Purchase Confirmation by signing in the appropriate space below and returning this Purchase Confirmation to the undersigned. Telecopy signatures shall be deemed valid and binding to the same extent as the original. Sincerely, Agreed to and Accepted by: COUNTRYWIDE HOME LOANS, INC. GOLDMAN SACHS MORTGAGE COMPANY By: _______________________________ By: _______________________________ Name: Celia Coulter N▇▇▇: ▇▇▇▇e: Executive Vice President Title: EXHIBIT A to PURCHASE CONFIRMATION MORTGAGE LOAN SCHEDULE (Available upon request to the Trustee) EXHIBIT B to PURCHASE CONFIRMATION CALCULATION OF PURCHASE PROCEEDS (Available upon request to the Trustee) EXHIBIT C to PURCHASE CONFIRMATION
Examples of Underwriting Criteria in a sentence
Manufactured Housing Numeric – Integer 1 99 Manufactured Housing Loans Only See Codes 0 = No 1 = Yes 99 = Unavailable MH-13 Defined Underwriting Criteria (Y/N) An indicator of whether the loan was made in accordance with a defined and/or standardized set of underwriting criteria.
All Rental Properties shall be managed by a Property Manager and shall exceed or meet the Leasing Criteria and Tenant Underwriting Criteria.
The Underwriting Criteria and Credit Policy are consistent with Lender’s lending authority under state and federal law, and Lender shall notify Servicer immediately of any change to such lending authority.
Servicer, on behalf of Lender, will obtain a credit report on each Borrower from a nationally recognized credit bureau, and will maintain a system that reviews both the Credit Application and such report for compliance with the Underwriting Criteria and Credit Policy (and test such system routinely, but no less than quarterly during the term of this Agreement).
Each Tenant exceeds or meets the Tenant Underwriting Criteria (including all supplements or amendments thereto) previously provided to and approved by Buyer.
More Definitions of Underwriting Criteria
Underwriting Criteria means the Credit and Collection Guidelines used by the Originator in originating commercial mortgage loans, as in effect as of the Closing Date and attached hereto as Exhibit XI, which underwriting criteria may be modified from time to time solely with the consent of the Buyer (such consent not to be unreasonably withheld or delayed).
Underwriting Criteria. Each Mortgage Loan [was underwritten generally in accordance with the Seller’s credit underwriting guidelines in effect at the time such Mortgage Loan was originated] [conforms to the ▇▇▇▇▇▇ ▇▇▇ or ▇▇▇▇▇▇▇ Mac mortgage eligibility criteria and is eligible for sale to, and securitization by, ▇▇▇▇▇▇ Mae or ▇▇▇▇▇▇▇ Mac] [conforms in all material respects to the GNMA mortgage eligibility criteria and is eligible for sale and securitization into a GNMA mortgage-backed security] [at the time of origination was underwritten to guidelines which are consistent with an institutional investor-quality mortgage loan].
Underwriting Criteria means the underwriting standards adopted and maintained by Lender for Loans reflected in Schedule A, as they may be amended from time to time, (i) by agreement of the Parties, (ii) by Lender in response to advice or comments received from a Governmental Authority upon 30 days advance written notice to Servicer or (iii) by Lender to the extent required by Law upon written notice to Servicer.
Underwriting Criteria means, with respect to each Loan Product and each corresponding Loan, the underwriting and appraisal guidelines of Lender as to such Loan Product in effect as of the date of the origination of the related Loan or as of the date of this Agreement, as applicable, as set forth in the Policies and Procedures or otherwise as applied by Lender from time to time.
Underwriting Criteria. The criteria used by Triad for purchasing contracts.
Underwriting Criteria means the underwriting standards adopted and maintained by Lender for Loans reflected in Schedule B, as they may be amended from time to time, (i) by agreement of the Parties, (ii) by Lender in response to advice or comments received from a Governmental Authority, upon thirty (30) calendar days advance written notice to Servicer if practicable, or as otherwise directed by such Governmental Authority, (iii) by Lender to the extent required by Applicable Law, in Lender’s sole discretion, upon written notice to Servicer, or (iv) by Lender in good faith, if the six month average of the Performance Percentage is less than [*****] basis points, upon ten (10) days’ advance written notice to Servicer, provided, however that if Servicer requires more than ten (10) days to comply with such change, Lender has the right to require Servicer to suspend Loan originations until the change can be made. Additionally, Lender may confirm, as it deems appropriate, that the Underwriting Criteria are met on an ongoing basis. Notwithstanding the foregoing, Lender shall at all times retain control over all credit decisions and Lender shall approve or deny in writing, in its sole discretion, any overrides of Underwriting Criteria.
Underwriting Criteria means the criteria used by Triad for purchasing Contracts attached to the Purchase Agreement as Exhibit B.