Common use of Higher Cost Products Clause in Contracts

Higher Cost Products. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such Affiliate for underwriting consideration;

Appears in 5 contracts

Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5), Lehman Brothers (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5), Reconstituted Servicing Agreement (LXS 2007-3)

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Higher Cost Products. No Mortgagor borrower was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor borrower did not qualify taking into account credit history and debt to debt-to-income ratios for a lower lower-cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor borrower may have qualified for a lower for a lower-cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagorborrower’s application to such Affiliate affiliate for underwriting consideration;.

Appears in 4 contracts

Samples: Pooling Agreement (Jpmac 2006-Cw1), Pooling and Servicing Agreement (J.P. Morgan Mortgage Acquisition Trust 2007-He1), Pooling and Servicing Agreement (Jpmac 2006-Nc2)

Higher Cost Products. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such Affiliate affiliate for underwriting consideration;.

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Ab1), Warranties and Servicing Agreement (MASTR Alternative Loan Trust 2006-1), Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2006-2)

Higher Cost Products. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowersMortgagors, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such Affiliate for underwriting consideration;

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (Sasco 2006-Bc4), Reconstituted Servicing Agreement (Sail 2006-3), Warranties and Servicing Agreement (Sasco 2006-Bc3)

Higher Cost Products. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such Affiliate for underwriting consideration;

Appears in 2 contracts

Samples: Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Lehman XS Trust Series 2007-7n), Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Lehman XS Trust Series 2007-15n)

Higher Cost Products. No Mortgagor borrower was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor borrower did not qualify taking into account credit history and debt to debt-to-income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor borrower may have qualified for a lower for a lower-cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagorborrower’s application to such Affiliate affiliate for underwriting consideration;.

Appears in 1 contract

Samples: Assignment and Assumption and Recognition Agreement (Jpmac 2006-Fre2)

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Higher Cost Products. No Mortgagor borrower was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor borrower did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor borrower may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagorborrower’s application to such Affiliate affiliate for underwriting consideration;.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jpmac 2006-Acc1)

Higher Cost Products. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor did not qualify taking into account credit history and debt to income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagor’s application to such Affiliate affiliate for underwriting consideration;

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Af1)

Higher Cost Products. No Mortgagor borrower was encouraged or required to select a Mortgage Loan product offered by the Mortgage Loan’s originator which is a higher cost product designed for less creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, such Mortgagor borrower did not qualify taking into account credit history and debt to debt-to-income ratios for a lower cost credit product then offered by the Mortgage Loan’s originator or any Affiliate affiliate of the Mortgage Loan’s originator. If, at the time of loan application, the Mortgagor borrower may have qualified for a lower for a lower-cost credit product then offered by any mortgage lending Affiliate affiliate of the Mortgage Loan’s originator, the Mortgage Loan’s originator referred the Mortgagorborrower’s application to such Affiliate affiliate for underwriting consideration;. ggg.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Acquisition Trust 2007-He1)

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