Mandatory Delivery Commitments; Pairoff Fees. The PFI’s failure to meet its commitment to deliver mortgages in an amount equal to, and prior to the expiration of, a Delivery Commitment may result in the assessment of a Pairoff Fee. The MPF Provider shall calculate the amount of any Pairoff Fee in accordance with the Origination Guide, which amount shall be payable by the PFI to the Bank as provided in the Origination Guide. In no event shall the Bank be obligated to pay a Pairoff Fee to the PFI.
Appears in 3 contracts
Samples: Financial Institution Agreement, Financial Institution Agreement (Federal Home Loan Bank of Chicago), Financial Institution Agreement (Federal Home Loan Bank of Chicago)
Mandatory Delivery Commitments; Pairoff Fees. The PFI’s failure to meet its commitment to deliver mortgages in an amount equal to, and prior to the expiration of, a Delivery Commitment may result in the assessment of a Pairoff Pairoff Fee. The MPF Provider shall calculate the amount of any Pairoff Pairoff Fee in accordance with the Origination Guide, which amount shall be payable by the PFI to the Bank as provided in the Origination Guide. In no event shall the Bank be obligated to pay a Pairoff Pairoff Fee to the PFI.
Appears in 2 contracts
Samples: Financial Institution Agreement, Financial Institution Agreement
Mandatory Delivery Commitments; Pairoff Fees. The PFI’s 's failure to meet its commitment to deliver mortgages in an amount equal to, and prior to the expiration of, a Delivery Commitment may result in the assessment of a Pairoff Fee. The MPF Provider shall calculate the amount of any Pairoff Fee in accordance with the Origination Guide, which amount shall be payable by the PFI to the Bank as provided in the Origination Guide. In no event shall the Bank be obligated to pay a Pairoff Fee to the PFI.
Appears in 1 contract
Samples: Participating Financial Institution Agreement (Federal Home Loan Bank of New York)
