Cause for Disqualification or Suspension Sample Clauses

Cause for Disqualification or Suspension. ‌ The MPF Bank or MPF Provider, as applicable, has the right to disqualify or suspend a PFI or Servicer for any reason it deems necessary in order to protect its interests, including, but not limited to the following: • Any impending, pending, or adjudicated status of the PFI or Servicer related to or the actual inability to pay debts, insolvency, and/or bankruptcy; • The failure of the PFI or Servicer, as applicable, to maintain qualified loan origination staff, and/or servicing staff, and/or adequate physical facilities and systems to assure the required quality of the Mortgage Loans originated and/or serviced; • The change of any organizational, physical, and/or financial condition of the PFI or Servicer which the MPF Bank or MPF Provider construes as adversely affecting its interests; • The failure of the PFI or Servicer to meet any eligibility requirement as stated in the Applicable Agreements; • Any probationary action or restriction of the PFI’s or Servicer’s activities by a federal or state government agency; • The judgment by the MPF Bank or MPF Provider that the PFI’s or Servicer’s warranty obligations are disproportionate to its capital and/or assets; • Any judgment, order, finding or regulatory action to which the PFI or Servicer is subject that would adversely affect its ability to comply with the terms and conditions of the Applicable Agreement; • Disqualification or suspension of the PFI or Servicer by any Government Agency; and • Failure of the PFI or Servicer to perform under any agreement with the MPF Bank or MPF Provider, as applicable. In cases where the PFI is also the Servicer, suspension or disqualification in one capacity will be cause for suspension or disqualification of both financial functions under the PFI Agreement .