Approval of Mortgage Loans by Civic Sample Clauses

Approval of Mortgage Loans by Civic. If Civic, in its sole and absolute discretion, approves a Mortgage Loan Package, Civic shall issue Broker a conditional approval setting forth the conditions upon which Civic will fund the subject Mortgage Loan (the “Conditional Approval”). Civic shall have no obligation to fund a Mortgage Loan prior to the fulfillment of all funding conditions contained in the Conditional Approval. Civic shall not be obligated to fund any Mortgage Loan that does not, in Civic’s sole discretion, comply with the terms of this Agreement, the related Conditional Approval or Civic’s applicable guidelines or underwriting criteria. Notwithstanding anything to the contrary contained in this Agreement, Civic shall have no obligation to accept, approve or fund any Mortgage Loan submitted to it by Broker. Broker and Civic expressly agree and acknowledge that Broker shall have no right, power or authority, express or implied, to approve a Loan Application, orally or in writing, on behalf of Civic or to issue to Applicant(s) any type of commitment to loan funds on behalf of Civic or to represent to any person that Civic has approved or will approve any Mortgage Loan Package or that Civic has issued or will issue a binding commitment to fund any Mortgage Loan Package. The contents of all Mortgage Loan Package and other information submitted to Civic shall become the Property of Civic upon funding of the Mortgage Loan.
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Related to Approval of Mortgage Loans by Civic

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