Common use of Curtailment of Aged Participated Mortgage Loans Clause in Contracts

Curtailment of Aged Participated Mortgage Loans. (a) With respect to any Aged Participated Mortgage Loan, to the extent permitted by applicable Law, Bank may from time to time, in its sole and absolute discretion, require Seller to repurchase from Bank any portion of the Participation Interest then owned by Bank in such Aged Participated Mortgage Loan, as determined by Bank, in accordance with the following table: Number of days elapsed since the Purchase Date for the Participation Interest in the Aged Mortgage Loan Maximum aggregate total portion of the Participation Percentage (as of the Purchase Date for the related Participation Interest) in the applicable Aged Mortgage Loan which Bank may require to be repurchased by Seller pursuant to this Section 60 days or more but less than 75 days up to 10.0%

Appears in 2 contracts

Samples: Mortgage Warehouse Agreement (Redfin CORP), Mortgage Warehouse Agreement (Redfin CORP)

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Curtailment of Aged Participated Mortgage Loans. (a) With respect to any Aged Participated Mortgage Loan, to the extent permitted by applicable Law, Bank may from time to time, in its sole and absolute discretion, require Seller to repurchase from Bank any portion of the Participation Interest then owned by Bank in such Aged Participated Mortgage Loan, as determined by Bank, in accordance with the following table: Number of days elapsed since the Purchase Date for the Participation Interest in the Aged Participated Mortgage Loan Maximum aggregate total portion of the Participation Percentage (as of the Purchase Date for the related Participation Interest) in the applicable Aged Participated Mortgage Loan which Bank may require to be repurchased by Seller pursuant to this Section 60 days or more but less than 75 90 days up to 10.0%[***]

Appears in 2 contracts

Samples: Pledge Agreement (Home Point Capital Inc.), Mortgage Warehouse Agreement (Home Point Capital Inc.)

Curtailment of Aged Participated Mortgage Loans. (a) With respect to any Aged Participated Mortgage Loan, to the extent permitted by applicable Law, Bank may from time to time, in its sole and absolute discretion, require Seller to repurchase from Bank any portion of the Participation Interest then owned by Bank in such Aged Participated Mortgage Loan, as determined by Bank, in accordance with the following table: Number of days elapsed since the Purchase Date for the Participation Interest in the Aged Participated Mortgage Loan Maximum aggregate total portion of the Participation Percentage (as of the Purchase Date for the related Participation Interest) in the applicable Aged Participated Mortgage Loan which Bank may require to be repurchased by Seller pursuant to this Section 60 days or more but less than 75 90 days up to 10.0%[***]

Appears in 1 contract

Samples: Mortgage Warehouse Agreement (Caliber Home Loans, Inc.)

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Curtailment of Aged Participated Mortgage Loans. (a) With respect to any Aged Participated Mortgage Loan, to the extent permitted by applicable Law, Bank may from time to time, in its sole and absolute discretion, require Seller to repurchase from Bank any portion of the Participation Interest then owned by Bank in such Aged Participated Mortgage Loan, as determined by Bank, in accordance with the following table: Number of days elapsed since the Purchase Date for the Participation Interest in the Aged Participated Mortgage Loan Maximum aggregate total portion of the Participation Percentage (as of the Purchase Date for the related Participation Interest) in the applicable Aged Participated Mortgage Loan which Bank may require to be repurchased by Seller pursuant to this Section 60 days [***] or more but less than 75 days [***] up to 10.0[***]%

Appears in 1 contract

Samples: Mortgage Warehouse Agreement (loanDepot, Inc.)

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