Common use of Insured Closing Letter Clause in Contracts

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Lender, copies of which shall be delivered by the Borrower to the Custodian prior to the Funding Date. Upon request by the Lender, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or its designee.

Appears in 2 contracts

Samples: Master Loan and Security Agreement (New York Mortgage Trust Inc), Master Loan and Security Agreement (New York Mortgage Trust Inc)

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Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Lender, copies of which shall be delivered by the Borrower to the Custodian prior to the Funding Date. Upon request by the Lender, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or its designee.

Appears in 2 contracts

Samples: And Security Agreement (Aames Financial Corp/De), Master Loan and Security Agreement (Aames Investment Corp)

Insured Closing Letter. As of the date hereof and as of the date of With respect to each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Lender, copies of which shall be delivered by the Borrower made available to the Custodian prior to the Funding Date. Upon request by the Lender, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or its designeeupon request.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the LenderBuyer, copies of which shall be delivered by the Borrower Seller to the Custodian prior to the Funding Purchase Date. Upon request by the Lender, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or its designee.

Appears in 1 contract

Samples: Master Repurchase Agreement (New York Mortgage Trust Inc)

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Insured Closing Letter. As of the date hereof and as of the date Purchase Date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company that has been approved by the Lender, copies of which shall be delivered by the Borrower Buyer in writing. The Insured Closing Letter covers any losses occurring due to the Custodian prior fraud, dishonesty or mistakes of the closing agent and insures to the Funding Date. Upon request by benefit of, and the Lenderrights thereunder may be enforced by, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or loan originator and its designeesuccessors and assigns, including Buyer.

Appears in 1 contract

Samples: loanDepot, Inc.

Insured Closing Letter. As of the date hereof and as of the date of each delivery of a Wet Loan, the Settlement Agent has obtained an Insured Closing Letter, closing protection letter or similar authorization letter from a nationally recognized title insurance company approved by the Lender, copies of which shall shall, upon the request of the Lender, be delivered by the Borrower to the Custodian prior to the Funding Date. Upon request by the Lender, all such Insured Closing Letters or similar letters in possession of the Borrower shall be made available for audit by the Lender or its designee.

Appears in 1 contract

Samples: Master Loan and Security Agreement (MortgageIT Holdings, Inc.)

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