Common use of Custodial Responsibilities Clause in Contracts

Custodial Responsibilities. a. On the Purchase Date, or Delivery Date if different from the Purchase Date, the Seller shall deliver to the Custodian the Mortgage File, together with a Transmittal Letter upon which the Custodian shall be entitled to rely conclusively until expressly notified to the contrary in writing by the Buyer. The Mortgage Loan Schedule, relating to all of the Purchased Mortgage Loans delivered to the Custodian on the related Purchase Date (or the related Delivery Date), shall be delivered electronically to the Custodian by Buyer on such Purchase Date or Delivery Date, as applicable, in accordance with the terms of the Manual.

Appears in 3 contracts

Samples: Electronic Tracking Agreement (Home Point Capital Inc.), Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement and Securities Contract (Stonegate Mortgage Corp)

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Custodial Responsibilities. a. On the Purchase Date, or Delivery Date if different from the Purchase Date, the Seller shall deliver to the Custodian the Mortgage File, together with a Transmittal Letter upon which the Custodian shall be entitled to rely conclusively until expressly notified to the contrary in writing by the Buyer. The Mortgage Loan Schedule, relating to all of the Purchased Mortgage Loans delivered to the Custodian on the related Purchase Date (or the related Delivery Date), shall be delivered electronically to the Custodian by Buyer Seller on such Purchase Closing Date or Delivery Date, as applicable, in accordance with the terms of the Manual.

Appears in 1 contract

Samples: Master Repurchase Agreement (loanDepot, Inc.)

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