Common use of Closing Protection Letter Clause in Contracts

Closing Protection Letter. With respect to each Mortgage Loan that is a Wet-Ink Mortgage Loan (other than any such Mortgage Loan originated in the State of New York), Seller has obtained an ALTA closing protection letter which provides indemnification for the Buyer for losses arising from the related Closing Agent’s fraud, theft, dishonesty, negligence or failure to follow written closing instructions, in form and substance acceptable to the Buyer. If such closing protection letter is not addressed to Buyer, such closing protection letter shall provide that the Buyer and any assignee of Buyer are protected by such letter as if it were addressed directly to them. Schedule 2 FILING JURISDICTIONS AND OFFICES New Jersey Schedule 2-1 Schedule 3 PREVIOUS NAMES, ASSUMED NAMES OR TRADE NAMES USED BY THE SELLER NONE Schedule 3-1 Schedule 4 COOPERATIVE MORTGAGE LOAN DOCUMENTS

Closing Protection Letter. With respect to each Mortgage Loan that is a Wet-Ink Mortgage Loan (other than any such Mortgage Loan originated in the State of New York), Seller has obtained an ALTA closing protection letter which provides indemnification for the Buyer for losses arising from the related Closing Agent’s fraud, theft, dishonesty, negligence or failure to follow written closing instructions, in form and substance acceptable to the Buyer. If such closing protection letter is not addressed to Buyer, such closing protection letter shall provide that the Buyer and any assignee of Buyer are protected by such letter as if it were addressed directly to them. Schedule 2 FILING JURISDICTIONS AND OFFICES New Jersey Schedule 2-1 [To be Provided by Counsel to the Seller] Schedule 3 PREVIOUS NAMES, ASSUMED NAMES OR TRADE NAMES USED BY THE SELLER NONE Schedule 3-1 Schedule 4 COOPERATIVE MORTGAGE LOAN DOCUMENTS