High Cost Mortgages. No Contract is subject to the requirements ------------------- in the Home Ownership and Equity Protection Act of 1994 that apply to "high cost" mortgages.
High Cost Mortgages. With respect to any loan that is subject to the provisions of Section 226.31 and Section 226.32 of Regulation Z (Truth in Lending Act), prior to the date of Correspondent's submission of a Xxxxxxxx's completed loan application package to WINPRIME LENDING, Correspondent warrants that it has delivered a complete and accurate notice which satisfies all requirements of Sections 226.31 and 226.32 of Regulation Z. Correspondent warrants that it has reviewed and analyzed the Borrower's credit, income, debts, and overall financial condition, and has discussed the results of its review and analysis with the Borrower, and based thereon, Correspondent has a reasonable basis to believe that the Borrower is capable to repay the loan in accordance with the loan terms. Correspondent warrants that the Borrower has provided no documentation indicating that Borrower is unable to repay the loan.
High Cost Mortgages. With respect to any Loan that is subject to the provisions of Section 226.31 and Section 226.32 set forth in Regulation Z (Truth in Lending), prior to the date of Broker's submission of Borrower's completed Loan application package to Lender, Broker has delivered a complete and accurate notice which satisfies all requirements of Sections 226.31 and 226.32 of Regulation Z. Broker has reviewed and analyzed borrower's credit, income, debts and financial condition, discussed the results of its review and analysis with the Borrower and, based upon such review, analysis and discussion, Broker has a reasonable basis to believe that Borrower has the ability to repay the Loan in accordance with its terms. The Borrower has not signed a letter indicating or otherwise notified Broker that Borrower is unable to repay the Loan in accordance with its terms.
High Cost Mortgages. No Group II Contract is subject to the ------------------- requirements in the Home Ownership and Equity Protection Act of 1994 that apply to "high cost" mortgages.
High Cost Mortgages. With respect to any Loan that is subject to the provisions of Section 226.31 and Section 226.32 set forth in Regulation Z (Truth in Lending), prior to the date of Non Delegated Correspondent's submission of Xxxxxxxx's completed Loan application package to Lender, Non Delegated Correspondent has delivered a complete and accurate notice which satisfies all requirements of Sections 226.31 and 226.32 of Regulation Z. Non Delegated Correspondent has reviewed and analyzed borrower's credit, income, debts and financial condition, discussed the results of its review and analysis with the Borrower and, based upon such review, analysis and discussion, Non Delegated Correspondent has a reasonable basis to believe that Xxxxxxxx has the ability to repay the Loan in accordance with its terms. The Borrower has not signed a letter indicating or otherwise notified Non Delegated Correspondent that Xxxxxxxx is unable to repay the Loan in accordance with its terms.
