Common use of Lender Participation Clause in Contracts

Lender Participation. The City hereby authorizes the Lender as one of the City’s approved Xxxxxxx for receipt and processing of applications for DALP loans in accordance with this Agreement and the DALP Program requirements and documents. The Lender acknowledges that the City may enter into Lender Participation Agreements with other financial institutions in connection with the DALP. If Lender originates mortgage loans on a retail, correspondent, or wholesale basis for a third-party lender that will fund a First Mortgage Loan (“Third-Party Lender”), Lender and each individual MLO will ensure that a Third-Party Lender’s First Mortgage Loan complies with this Agreement, including without limitation, Sections 8, 10, and 11 below. Third Party Lender does not include any government sponsored entity, including without limitation, Xxxxxx Xxx, Freddie Mac, or CalHFA. MOHCD reserves the right to reject any Third-Party Lender.

Lender Participation. The City hereby authorizes the Lender as one of the City’s approved Xxxxxxx Lenders for receipt and processing of applications for DALP loans the BMR Program in accordance with this the Agreement and the DALP BMR Program requirements and documents. The Lender acknowledges that the City may enter into Lender Participation Agreements with other financial institutions in connection with the DALPBMR Program. If Lender originates mortgage loans on a retail, correspondent, or wholesale basis for a third-party lender that will fund a First Mortgage Loan (“Third-Party Lender”), Lender and each individual MLO will ensure that a Third-Party Lender’s First Mortgage Loan complies with this Agreement, including without limitation, Sections 8, 10, and 11 below. Third Party Lender does not include any government sponsored entity, including without limitation, Xxxxxx XxxMae, Freddie Xxxxxxx Mac, or CalHFA. MOHCD reserves the right to reject any Third-Party Lender.

Lender Participation. The City hereby authorizes the Lender as one of the City’s approved Xxxxxxx Lenders for receipt and processing of applications for DALP loans in accordance with this Agreement and the DALP Program requirements and documents. The Lender acknowledges that the City may enter into Lender Participation Agreements with other financial institutions in connection with the DALP. If Lender originates mortgage loans on a retail, correspondent, or wholesale basis for a third-party lender that will fund a First Mortgage Loan (“Third-Party Lender”), Lender and each individual MLO will ensure that a Third-Party Lender’s First Mortgage Loan complies with this Agreement, including without limitation, Sections 8, 10, and 11 below. Third Party Lender does not include any government sponsored entity, including without limitation, Xxxxxx XxxMae, Freddie Xxxxxxx Mac, or CalHFA. MOHCD reserves the right to reject any Third-Party Lender.

Lender Participation. The City hereby authorizes the Lender as one of the City’s approved Xxxxxxx Lenders for receipt and processing of applications for DALP loans the BMR Program in accordance with this the Agreement and the DALP BMR Program requirements and documents. The Lender acknowledges that the City may enter into Lender Participation Agreements with other financial institutions in connection with the DALPBMR Program. If Lender originates mortgage loans on a retail, correspondent, or wholesale basis for a third-party lender that will fund a First Mortgage Loan (“Third-Party Lender”), Lender and each individual MLO will ensure that a Third-Party Lender’s First Mortgage Loan complies with this Agreement, including without limitation, Sections 8, 10, and 11 below. Third Party Lender does not include any government sponsored entity, including without limitation, Xxxxxx Xxx, Freddie Mac, or CalHFA. MOHCD reserves the right to reject any Third-Party Lender.