Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that: (A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures; (B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer; (C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note; (D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures; (E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures; (F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and (G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesNoteholders and the Note Insurer, cause the Custodian to review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall cause the Custodian to deliver to the Company Seller, the Representative, the Depositor, the Note Insurer, the Indenture Trustee and the Servicer on such the Closing Date an Initial Certification in the form attached as Exhibit E-1 to the Custodial Agreement with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall cause the Custodian to examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Trusteein blank, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first or second lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment other than the related senior lien, if applicable, (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 5 contracts
Samples: Indenture (Wachovia Mortgage Loan Trust, LLC), Indenture (Wachovia Asset Funding Trust, LLC), Indenture (Ace Securities Corp)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company OMI and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesBondholders, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Seller and the Master Servicer on such the Closing Date an Initial Certification in the form attached hereto as Exhibit A-1 with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Security Instrument Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage Security Instrument bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Trustee, neither the Mortgage Security Instrument nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage Security Instrument is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage Security Instrument from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related MortgageSecurity Instrument; and
(G7) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage Security Instrument creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 2 contracts
Samples: Indenture (Union Planters Mortgage Finance Corp), Indenture (Union Planters Home Equity Corp)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesNoteholders and the Note Insurer, cause the Custodian to review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall cause the Custodian to deliver to the Company Seller, the Note Insurer, the Indenture Trustee and the Servicer on such the Closing Date an Initial Certification in the form attached as Exhibit E-1 to the Custodial Agreement with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall cause the Custodian to examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Trusteein blank, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first or second lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment other than the related senior lien, if applicable, (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 2 contracts
Samples: Indenture (Residential Asset Funding Corp), Indenture (Prudential Securities Secured Financing Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesNoteholders and the Note Insurer, cause the Custodian to review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall cause the Custodian to deliver to the Company Seller, the Representative, the Depositor, the Note Insurer, the Indenture Trustee and the Servicer on such the Closing Date an Initial Certification in the form attached as Exhibit E-1 to the Custodial Agreement with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall cause the Custodian to examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Trusteein blank, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of “Mortgage Loan Documents” in the Mortgage Loan Sale Agreement, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first or second lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' ’ liens, judgment liens or writs of attachment other than the related senior lien, if applicable, (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Depositor and the Master Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Depositor and the Master Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' ’ liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Residential Resources Inc)
Initial Certification. The Indenture Trustee shallagrees to execute and deliver on the Closing Day an acknowledgment of receipt of the items delivered by FGT or the Depositor in the forms attached to the Loan Sale Agreement as Exhibit C, and declares that it, or its agent, will hold such documents and any amendments, replacement or supplements thereto, as well as any other assets included in the definition of Trust Estate and delivered to the Indenture Trustee, as Indenture Trustee in trust upon and subject to the conditions set forth herein for the benefit of the Noteholders and the Note Insurer. The Indenture Trustee agrees, for the benefit of the Certificateholders for any SeriesNoteholders and the Note Insurer, to review each related Trustee Mortgage Loan File prior to such items within 45 days after the related Closing Date (or, with respect to ascertain that all documents required any document delivered after the Closing Date, within 45 days of receipt and with respect to be included in any Subsequent Home Equity Loans or Home Equity Loan, within 45 days after the Trustee Mortgage Loan File are included therein, assignment thereof) and shall to deliver to the Company Depositor, FGT, the Master Servicer and the Servicer on such Closing Date Note Insurer an initial certification in the form attached hereto as Exhibit D ("Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing DateCertification") to the effect that, except as to each Home Equity Loan listed in the Schedule of Home Equity Loans (other than any Home Equity Loan paid in full or any Home Equity Loan specifically noted on a schedule of exceptions theretoidentified in such Initial Certification as not covered by such Initial Certification), (Ai) all documents required to be contained in the Trustee Mortgage delivered to it pursuant to Section 3.01(c)(i) of The Loan File Sale Agreement are in its possession, (Bii) such documents have been reviewed by it and appear regular on their face have not been mutilated, damaged or torn and relate to such Mortgage Loan, Home Equity Loan and (Ciii) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule of Home Equity Loans accurately reflects the information set forth in the Trustee Mortgage Loan File. It is understood that before making The Indenture Trustee shall have no responsibility for reviewing any Mortgage File except as expressly provided for herein. Without limiting the Initial Certification for effect of the preceding sentence, in reviewing any SeriesMortgage File, the Indenture Trustee shall examine have no responsibility for determining whether any document is valid and binding, whether the related Mortgage Loan Documents text of any assignment is in proper form (except to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature determine if the Indenture Trustee is the assignee), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction or signatures purporting whether a blanket assignment is permitted in any applicable jurisdiction, but shall only be required to determine whether a document has been executed, that it appears to be that of the Person or Persons named as the maker and mortgagor/trustor orwhat it purports to be, if photocopies are permittedand, where applicable, that it purports to be recorded. The Indenture Trustee shall be under no duty or obligation to inspect, review or examine any such copies bear a reproduction of such signature documents, instruments, certificates or signatures;
(B) except other papers to determine that they are genuine, enforceable, or appropriate for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face represented purpose or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any that they are other necessary party (or signatures purporting than what they purport to be that of on their face, nor shall the Seller and Indenture Trustee be under any such other party) or, if photocopies duty to determine independently whether there are permitted, that such copies bear a reproduction of such signature any intervening assignments or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (assumption or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security modification agreements and with respect to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note)Home Equity Loan.
Appears in 1 contract
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File (other than documents noted in (G) below and any flood insurance policy) are included therein, and shall deliver to the Company Depositor and the Master Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File (other than documents noted in (G) below and any flood insurance policy) are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate by loan number to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original or reproduction signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signaturestrustor;
(B) except for the endorsement to the Trustee, if any, neither the Mortgage Note, the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original or reproduction signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures);
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original or reproduction signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures);
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesBondholders, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Mortgage Loan Seller and the Servicer on such the Closing Date an Initial Certification in the form attached hereto as Exhibit E-1 with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Indenture Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Mortgage Loan Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Mortgage Loan Seller and any other necessary party (or signatures purporting to be that of the Mortgage Loan Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Indenture Agreement (Fund America Investors Corp Ii)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesBondholders, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Mortgage Loan Seller and the Servicer on such the Closing Date an Initial Certification in the form attached hereto as Exhibit E-1 with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C2) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D3) the Assignment of the related Mortgage from the Mortgage Loan Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Mortgage Loan Seller and any other necessary party (or signatures purporting to be that of the Mortgage Loan Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E4) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G5) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesBondholders and the Bond Insurer, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Mortgage Loan Seller, the Bond Insurer and the Servicer on such the Closing Date an Initial Certification in the form attached hereto as Exhibit E-1 with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such B)such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based C)based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Indenture Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Mortgage Loan Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Mortgage Loan Seller and any other necessary party (or signatures purporting to be that of the Mortgage Loan Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesNoteholders and the Note Insurer, cause the Custodian to review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall cause the Custodian to deliver to the Company Mortgage Loan Seller, the Note Insurer, the Indenture Trustee and the Servicer on such the Closing Date an Initial Certification in the form attached as Exhibit E-1 to the Custodial Agreement with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall cause the Custodian to examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Trusteein blank, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Mortgage Loan Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Mortgage Loan Seller and any other necessary party (or signatures purporting to be that of the Mortgage Loan Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first or second lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment other than the related senior lien, if applicable, (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
Appears in 1 contract
Samples: Indenture (Prudential Securities Secured Financing Corp)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company and the Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B) except for the endorsement to the Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Mortgage Loan Documents, and bears an original signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Initial Certification. The Trustee shall, for the benefit of the Certificateholders for any Series, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File (other than documents noted in (G) below and any flood insurance policy) are included therein, and shall deliver to the Company Depositor and the Master Servicer on such Closing Date an Initial Certification with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File (other than documents noted in (G) below and any flood insurance policy) are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate by loan number to such Mortgage Loan, and (C) based on its examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any Series, the Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A) each Mortgage Note and Mortgage bears an original or reproduction signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signaturestrustor;
(B) except for the endorsement to the Trustee, if any, neither the Mortgage Note, the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D) the Assignment of the related Mortgage from the Seller to the Trustee on behalf of the Trust is in the form required pursuant to clause (c) of the definition of Trustee Mortgage Loan DocumentsFile, and bears an original or reproduction signature of the Seller and any other necessary party (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures);
(E) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original or reproduction signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures);
(F) if either a Title Insurance Policy, a preliminary title report or a written commitment to issue a Title Insurance Policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G) if any of a Title Insurance Policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
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Samples: Pooling and Servicing Agreement (Union Planters Home Equity Corp)
Initial Certification. The Indenture Trustee shall, for the benefit of the Certificateholders for any SeriesBondholders, review each related Trustee Mortgage Loan File prior to the related Closing Date to ascertain that all documents required to be included in the Trustee Mortgage Loan File are included therein, and shall deliver to the Company Mortgage Loan Seller and the Servicer on such the Closing Date an Initial Certification in the form attached hereto as Exhibit E-1 with respect to each underlying Mortgage Loan (except any Mortgage Loan that has been liquidated or purchased from the related Trust prior to such Closing Date) to the effect that, except as specifically noted on a schedule of exceptions thereto, (A) all documents required to be contained in the Trustee Mortgage Loan File are in its possession, (B) such documents have been reviewed by it and appear regular on their face and relate to such Mortgage Loan, and (C) based on its -49- 56 examination and only as to the foregoing documents, the information set forth on the related Mortgage Loan Schedule accurately reflects information set forth in the Trustee Mortgage Loan File. It is understood that before making the Initial Certification for any SeriesCertification, the Indenture Trustee shall examine the related Mortgage Loan Documents to confirm that:
(A1) each Mortgage Note and Mortgage bears an original signature or signatures purporting to be that of the Person or Persons named as the maker and mortgagor/trustor or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(B2) except for the endorsement to the Indenture Trustee, neither the Mortgage nor any Assignment, on the face or the reverse side(s) thereof, contain contains evidence of any unsatisfied claims, liens, security interests, encumbrances or restrictions on transfer;
(C3) the principal amount of the indebtedness secured by the related Mortgage is identical to the original principal amount of the related Mortgage Note;
(D4) the Assignment of the related Mortgage from the Mortgage Loan Seller to the Indenture Trustee on behalf of the Trust is in the form required pursuant to clause (ce) of the definition of "Mortgage Loan Documents" in the Mortgage Loan Sale Agreement, and bears an original signature of the Mortgage Loan Seller and any other necessary party (or signatures purporting to be that of the Mortgage Loan Seller and any such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(E5) if intervening Assignments are included in the Trustee Mortgage Loan File, each such intervening Assignment bears an original signature of the related mortgagee and/or the assignee (and any other necessary party) (or signatures purporting to be that of the Seller and any each such other party) or, if photocopies are permitted, that such copies bear a reproduction of such signature or signatures;
(F6) if either a Title Insurance Policytitle insurance policy, a preliminary title report or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, the address of the real property set forth in such policy, report or written commitment is identical to the real property address contained in the related Mortgage; and
(G7) if any of a Title Insurance Policytitle insurance policy, certificate of title insurance or a written commitment to issue a Title Insurance Policy title insurance policy is delivered, such policy, certificate or written commitment is for an amount not less than the original principal amount of the related Mortgage Note and such Title Insurance Policy title insurance policy insures that the related Mortgage creates a first lien, senior in priority to all other deeds of trust, mortgages, deeds to secure debt, financing statements and security agreements and to any mechanics' liens, judgment liens or writs of attachment (or if the Title Insurance Policy title insurance policy or certificate of title insurance has not been issued, the written commitment for such insurance obligates the insurer to issue such policy for an amount not less than the original principal amount of the related Mortgage Note).
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