Inspection of Loan Files. Arc reserves the right to inspect all Loans and satisfy itself that all Loans comply with the applicable Commitment and Seller's representations. The Loan Files shall evidence compliance with all federal and state laws, rules, orders and regulations affecting the Loan. The extent, nature and timing of any such reviews shall be at the sole discretion of Arc. Seller shall make Arc the loss payee of each title policy, mortgage guaranty insurance policy and hazard and flood insurance policy. Ownership of, and title to, the Loans will not vest in Arc unless and until accepted and paid for by Arc.
Appears in 6 contracts
Samples: Loan Purchase and Sale Agreement, Correspondent Seller Loan Purchase and Sale Agreement, Correspondent Seller Loan Purchase and Sale Agreement
