Examples of Loan Sale Agreement in a sentence
After the bid date, HUD can withdraw mortgage loans in accordance with the Loan Sale Agreement.
Any earnest money deposits re- lating to withdrawn loan assets will be retained by HUD and credited toward the total purchase price of the remain- ing loan assets in the pool, in accord- ance with the Loan Sale Agreement.
A purchaser may also re- quire a mortgagor to pay increased monthly mortgage loan payments under a renewed payment plan agree- ment to reduce the amount in arrears if the mortgagor’s available income (as calculated according to the Loan Sale Agreement) can support the increased payments.
Along with the bid, the bidder must submit an executed copy of the Loan Sale Agreement, which is included in the bid package.
The purchaser and its servicer, and any subsequent transferee of or servicer for the mortgage loan, will be fully bound by the terms of the Loan Sale Agreement, including those terms that provide the mortgagor with any rights regarding forbearance, assist- ance, or reinstatement of the mortgage loan.