Common use of Determination of Non-Conformance Clause in Contracts

Determination of Non-Conformance. The Agency shall carefully consider the facts and circumstances available when determining whether or not the Lender has acted in non-conformance with the applicable standards. The Agency's determination may be as a result of, but not limited to, a review of the following: • Conformance in meeting financial criteria of the Agency; • Adequacy in meeting the standards of the Agency, including origination, servicing, collection of fees and loan payments, and protection of collateral; • Adherence to the reporting requirements of the Agency; • Evidence that the Lender is operating in a sound and prudent businesslike manner; • Performance ratios of the portfolio compared to industry performance ratios for delinquency and default; and • Audit findings of on-site reviews conducted by the Agency of the underwriting and/or servicing performed by the Lender or the financial condition and viability of the Lender.

Determination of Non-Conformance. The Agency shall carefully consider the facts and circumstances available when determining whether or not the Lender has acted in non-conformance with the applicable standards. The Agency's determination may be as a result of, but not limited to, a review of the following: • Conformance in meeting financial criteria of the Agency; , • Adequacy in meeting the standards of the Agency, including origination, servicing, collection of fees and loan payments, and protection of collateral; • Adherence to the reporting requirements of the Agency; • Evidence that the Lender is operating in a sound and prudent businesslike manner; • Performance ratios of the portfolio compared to industry performance ratios for delinquency and default; and • Audit findings of on-site reviews conducted by the Agency of the underwriting and/or servicing performed by the Lender or the financial condition and viability of the Lender.