Loan Processing. All loans are to be processed by a company approved contract processor. Originator is strictly prohibited from ordering/requesting/receiving loan verifications. Processors shall directly send, receive, and validate any and all loan verifications. Failure to follow these policies may result in forfeiture of compensation on funded transactions. Expenses: Expenses include but are not limited to the company transaction fee, correspondent admin. fee, processing fees, credit report fees, courier and delivery fees, automated underwriting fees, software and website expenses, and any other expenses not paid from the proceeds of a funded loan transaction. Loan expenses also include those paid by Innovative Mortgage Services, Inc. on behalf of the independent contract loan originator. All business related expenses shall be the responsibility of the loan originator. The loan originator is responsible for supplying their work space, hardware, software, professional tools, equipment, materials and supplies, and all other business related expenses as necessary. The loan originator may originate loans ‘virtually’ utilizing technology including email, internet, telephone/VOIP, courier and fax as necessary. Due to state and federal compliance regulations, the originator must subscribe to a compliant origination software and may elect to use the company’s origination platform at a group discount. Originator is also responsible for business related expenses such as credit reports, automated underwriting, and verifications. State regulations prohibit originators from meeting prospective clients and borrowers at any location other than a company licensed location or public location (i.e. public library, restaurant or coffee shop). Innovative does not require independent contract originators to travel, set a work schedule, or to set or achieve any production and or sales goals. Originator is free to determine the means and manner necessary to accomplish their desired levels of productivity. Company does not insure the originator to travel. Company does not provide professional liability insurance. The independent contractor is responsible for maintaining all necessary and proper insurance coverages for their desired modus operandi. From time to time the company may provide the originator with services in exchange for payment such as, but not limited to, origination software, marketing tools, and expedited compensation. Payment is due immediately at such time that services are re...
Loan Processing. (a) Chase Texas will enter information with respect to the interest rate, amortization schedule, maturity date and related information for each Senior Loan into the "Wall Street Office" software program of Financial Computer Software, L.P. ("WSO") provided to Chase Texas by the Fund;
Loan Processing. WFHM shall process all mortgage loan applications taken by Venture in accordance with the standards set forth in Paragraph 2.15 below and shall comply with the covenants set forth in Paragraph 2.16 below.
Loan Processing. OLB may submit loan applications it has originated to MMP loan processing. MMP agrees to promptly and diligently process such loan applications in compliance with all applicable laws and regulations. MMP will make every reasonable effort to ensure that all loan applications are fully processed to the extent that OLB’s chosen lender’s requirements are satisfied.
Loan Processing. 1. Provide trade processing support for loan transactions including recording trade settlements, reconciliation of settlements and tracking associated loan documentation.
Loan Processing. If so directed by a Plan Sponsor, Boston Financial will receive for acceptance written loan instructions and direction via facsimile, or other mutually agreed upon methods, from Plan Sponsors or Participants. If directed by Pioneer and agreed to by Boston Financial, Boston Financial shall provide loan modeling via the Plan Web functionality and generate loan documentation and loan proceeds as directed by the Plan Sponsor or Participant. EXHIBIT C to SCHEDULE I SUB-TRANSFER AGENCY SERVICES EMPLOYER SPONSORED RETIREMENT PLAN SERVICES
Loan Processing. The Client may submit loan applications it has originated to IEP for loan processing. IEP agrees to promptly and diligently process such loan applications in compliance with all applicable laws and regulations. IEP will make every reasonable effort to ensure that all loan applications are fully processed to the extent that the Client’s chosen lender’s requirements are satisfied.
Loan Processing. Arrange with first mortgage lenders for joint and simultaneous underwriting and processing of the first mortgage and secondary down payment loans. Accept, review and underwrite homebuyer loan applications and coordinate with the lenders, realtors, title and escrow officers and City to close escrow and fund loans.
Loan Processing. Applicant understands that any loan payments will be made directly to the college, university or other applicable educational institution and Applicant will not directly receive the loan proceeds. Applicant understands that loans made may be for a term of one academic year and that the Applicant may need to re-apply for another loan for each successive academic year.
