MERS Designated Mortgage Loans. With respect to each MERS Designated Mortgage Loan, neither the Seller nor the Servicer shall identify, or permit to be identified, any party other than Buyer in the field “warehouse/gestation” on the MERS® system without the express written consent of the Buyer. The Buyer shall have the right to require the Seller or the Servicer, at the sole cost and expense of the Seller, to deregister each MERS Designated Mortgage Loan from the MERS® system and require MERS to prepare assignments of mortgage as specified by the Buyer.
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.)
MERS Designated Mortgage Loans. With respect to each MERS Designated Mortgage Loan, neither the Seller nor the Servicer shall not identify, or permit to be identified, any party other than Buyer in the field “warehouse/gestation” on the MERS® system without the express written consent of the Buyer. The Buyer shall have the right to require the Seller or the ServicerSeller, at the sole cost and expense of the Seller, to deregister each MERS Designated Mortgage Loan from the MERS® system and require MERS to prepare assignments of mortgage as specified by the Buyer.
Appears in 2 contracts
Samples: Master Repurchase Agreement (Caliber Home Loans, Inc.), Master Repurchase Agreement (loanDepot, Inc.)
