Examples of Mortgage Purchase in a sentence
As of the Mortgage Purchase Date, the representations, warranties and covenants of the Mortgage Lender set forth in Section 2.02 hereof remain true and are in full force and effect.
As of the Mortgage Purchase Date, the Mortgage Lender has no knowledge of any circumstances or condition with respect to the Mortgagor, Single Family Residence, Mortgage Loan or any related document that could reasonably be expected to cause prudent private investors in the secondary market to regard the Mortgage Loan as an unacceptable investment, cause the Mortgage Loan to become delinquent or to adversely affect the value or the marketability of the Mortgage Loan.
As of the Mortgage Purchase Date, the Mortgage Lender’s financial condition has not changed substantially for the worse from its condition as of the date of execution of this Agreement.
As of the Mortgage Purchase Date, the Mortgage Lender has complied with all of its servicing and other obligations pursuant to Section 4.17 hereof.
In subsection 4.13(m) of this Agreement, the Mortgage Lender represents and warrants to, and covenants with the Authority and the Servicer with respect to each Mortgage Loan purchased by the Servicer, that the Home located on the Mortgaged Property is complete and in general good repair as of the Mortgage Purchase Date.
As of the Mortgage Purchase Date, the Mortgage Loan shall be current as to principal and interest payments due and there shall be no delinquent tax or delinquent assessment lien against the property financed by the Mortgage Loan unless permitted by the GNMA Guide, the Freddie Mac Guide or the Xxxxxx Xxx Guide, as applicable.
As of the Mortgage Purchase Date, as to each Mortgage, there shall be no mechanics’, laborers’, or materialman’s liens or claims therefor outstanding for work, labor, or materials affecting the property encumbered by the Mortgage securing the Mortgage Loan that are or might be or become liens prior to, or equal with, the lien of the Mortgage and no rights outstanding that under law could give rise to such lien, for work performed or materials supplied to the property prior to the date of the Mortgage.
As of the Mortgage Purchase Date, the improvements upon the real property subject to the Mortgage Loan will be covered by a valid Standard Hazard Insurance Policy, Flood Insurance Policy, if applicable, and Multi-peril Policy for Condominiums, if applicable, and as required by FHA or VA or USDA Rural Development regulations or the PMI Insurer and the GNMA Guide, Xxxxxxx Mac or Xxxxxx Xxx, as applicable.
As of the Mortgage Purchase Date, the Mortgage Lender has no knowledge of any acts or circumstances, economic or otherwise, which may have an adverse effect on the credit of any Mortgagor, the prospect of prompt payment of any Mortgage Loan or the value of any security therefore.
Except as provided in Section 4.19 hereof, construction of the Single Family Residence is complete and the Single Family Residence is free of material damage and in general good repair on the Mortgage Purchase Date.