Loan Purchase Agreements. The Seller shall maintain at least one whole loan purchase agreement with at least one third party purchaser or Agency, pursuant to which such third party purchaser or Agency has agreed to purchase Eligible Mortgage Loans from the Seller. The Seller shall not be in material default under any purchase agreement with any third party purchaser or Agency. The Seller shall ensure that each Mortgage Loan sold to the Buyer in a Transaction hereunder which is subject to a Takeout Commitment with a third party purchaser is eligible for sale to such third party purchaser or Agency pursuant to the related purchase agreement.
Appears in 5 contracts
Samples: Master Repurchase Agreement (Pennymac Financial Services, Inc.), Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (Pennymac Financial Services, Inc.)
Loan Purchase Agreements. The Seller shall maintain maintain, and shall not be in default under, at least one whole loan purchase agreement with at least one third party purchaser or Agency, pursuant to which such third party purchaser or Agency has agreed to purchase Eligible Mortgage Loans from the Seller. The Seller shall not be in material default under any purchase agreement with any third party purchaser or Agency. The Seller shall ensure that each Mortgage Loan sold to the Buyer in a Transaction hereunder which is subject to a Takeout Commitment with a third party purchaser is eligible for sale to such third party purchaser or Agency pursuant to the related such purchase agreement.
Appears in 4 contracts
Samples: Master Repurchase Agreement (Caliber Home Loans, Inc.), Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (Tree.com, Inc.)
