Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect: (i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and (ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 18 contracts
Samples: Securities Purchase Agreement (MidWestOne Financial Group, Inc.), Securities Purchase Agreement (Live Oak Bancshares, Inc.), Securities Purchase Agreement (Live Oak Bancshares, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its the Company Subsidiaries has have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary has satisfied, in all material respects (Ai) all applicable federal, state and local laws, rules and regulations Laws with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) . No Agency, Loan Investor or Insurer has (Ax) claimed in writing that the Company or any of its the Company Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its the Company Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (By) imposed in writing material restrictions on the activities (including commitment authority) of the Company or any of its the Company Subsidiaries or (Cz) indicated in writing to the Company or any of its the Company Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its the Company Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its the Company Subsidiaries’ compliance with laws,Laws.
Appears in 11 contracts
Samples: Subscription Agreement, Investment Agreement (FNB United Corp.), Investment Agreement (FNB United Corp.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its the Company Subsidiaries has have complied in all material respects with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedhas satisfied in all material respects, (Ai) all applicable federal, state and local laws, rules and regulations Laws with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) . No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company or any of its the Company Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its the Company Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing material restrictions on the activities (including commitment authority) of the Company or any of its the Company Subsidiaries or (Ciii) indicated in writing to the Company or any of its the Company Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its the Company Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its the Company Subsidiaries’ compliance with laws,Laws.
Appears in 10 contracts
Samples: Investment Agreement (DBD Cayman, Ltd.), Investment Agreement (Anchorage Advisors, LLC), Investment Agreement (Hampton Roads Bankshares Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 5 contracts
Samples: Securities Purchase Agreement (Porter Bancorp, Inc.), Securities Purchase Agreement (First Mid Illinois Bancshares Inc), Securities Purchase Agreement (Heritage Commerce Corp)
Mortgage Banking Business. Except as has for such matters that have not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and Insurer, (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; andloan and (E) the underwriting guidelines and other loan policies and procedures of the Company or any applicable Subsidiary;
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,Laws; and
(iii) To the Company’s Knowledge, the characteristics of the loan portfolio of the Company have not materially changed from the characteristics of the loan portfolio of the Company as of June 30, 2012.
Appears in 5 contracts
Samples: Securities Purchase Agreement (Origin Bancorp, Inc.), Securities Purchase Agreement (Origin Bancorp, Inc.), Securities Purchase Agreement (Origin Bancorp, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse EffectEffect on the Company:
(i1) The Company and each of its Subsidiaries has Company Subsidiary have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii2) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (C) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,. For purposes of this Section 2.2(y):
Appears in 4 contracts
Samples: Investment Agreement (Sterling Financial Corp /Wa/), Investment Agreement (Sterling Financial Corp /Wa/), Investment Agreement (Sterling Financial Corp /Wa/)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse EffectEffect or as may otherwise be set forth in Section 4.32 of the Company Disclosure Schedule:
(ia) The Company and each of its Subsidiaries has the Bank have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan loans originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedthe Bank since January 1, 2009 has satisfied in all material respects, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations of the Company or the Bank relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries the Bank and any Mortgage Finance Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Mortgage Finance Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and, except for failure to comply or satisfy that have not had and are not reasonably expect to have, either individually or in the aggregate, a Material Adverse Effect on the Company.
(iib) No Mortgage Finance Agency, Loan Investor or Insurer has (Ai) claimed made a claim in writing that to the Company or any the Bank that either of its Subsidiaries them has violated or has not complied in any material respects with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries the Bank to a Loan Investor or Mortgage Finance Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing any material restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries the Bank, (iii) sought to have the Company or the Bank repurchase a mortgage loan, or (Civ) indicated in writing to the Company or any of its Subsidiaries the Bank that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries the Bank for poor performance, poor loan quality or concern concerns with respect to the Company’s or any of its Subsidiaries’ the Bank’s compliance with laws,applicable laws except, in each case, for any instances that, either individually or in the aggregate, have not had and are not reasonably expected to have a Material Adverse Effect on the Company. Except as disclosed in Section 4.32(b) of the Company Disclosure Schedule, neither the Company nor the Bank has any contingent liabilities for the potential repurchase of mortgage loans sold to any third party which, either individually or in the aggregate, exceeds $2,000,000.
(c) For purposes of this Section 4.32:
Appears in 4 contracts
Samples: Common Stock Purchase Agreement (Pacific Mercantile Bancorp), Stock Purchase Agreement (Pacific Mercantile Bancorp), Common Stock Purchase Agreement (Pacific Mercantile Bancorp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) i. The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) . No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or AgencyAgency (other than any claims which are barred by the applicable statute of limitations), or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed imposed, in writing writing, restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated indicated, in writing writing, to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 3 contracts
Samples: At Market Issuance Sales Agreement (CNB Financial Corp/Pa), At Market Issuance Sales Agreement (CNB Financial Corp/Pa), At Market Issuance Sales Agreement (City Holding Co)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and.
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiariessubsidiaries’ compliance with laws,.
(iii) For purposes of this Section 3(q): (A) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other federal or state agency with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities; (B) “Loan Investor” means any person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its subsidiaries or a security backed by or representing an interest in any such mortgage loan; and (C) “Insurer” means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral
Appears in 3 contracts
Samples: Investment Agreement (Guaranty Financial Group Inc.), Investment Agreement (Guaranty Financial Group Inc.), Investment Agreement (Guaranty Financial Group Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and underwriting, credit approval and, if applicable, foreclosure of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, foreclosure or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 3 contracts
Samples: Securities Purchase Agreement (Ecb Bancorp Inc), Securities Purchase Agreement (Ecb Bancorp Inc), Securities Purchase Agreement (Ecb Bancorp Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting underwriting, and credit approval of any mortgage loan originated, purchased purchased, or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state state, and local laws, rules rules, and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity opportunity, and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor Investor, or Insurer, (C) the applicable rules, regulations, guidelines, handbooks handbooks, and other requirements of any Agency, Loan Investor Investor, or Insurer Insurer, and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor Investor, or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Subsidiaries, or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality quality, or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Riverview Financial Corp), Stock Purchase Agreement (HCSB Financial Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(ia) The Company and each of its Subsidiaries Subsidiary has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Subsidiary satisfied, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Subsidiary and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor investor or Insurer has (Ai) claimed in writing that the Company or any of its Subsidiaries Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Subsidiary or (Ciii) indicated in writing to the Company or any of its Subsidiaries Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Subsidiary’s compliance with laws,.
(c) For purposes of this Section 2.33:
Appears in 2 contracts
Samples: Stock Purchase Agreement (Doral Financial Corp), Stock Purchase Agreement (Doral Financial Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have have, individually or in the aggregate, a Material Adverse Effect:
(i) The Each of the Company and each of its Subsidiaries subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiary and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiariessubsidiaries’ compliance with laws,
Appears in 2 contracts
Samples: Subscription Agreement (Community Bank Shares of Indiana Inc), Subscription Agreement (Community Bank Shares of Indiana Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effectset forth on Section 3.19 of the Company Disclosure Memorandum:
(ia) The Company and each of its Subsidiaries has have complied in all material respects with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of and its Subsidiaries satisfiedsatisfied in all material respects, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of and its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer Insurer, and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and.
(iib) No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (Ciii) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
(c) As used in this Agreement, (i) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other federal or state agency with authority to (x) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries or (y) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities, (ii) “Loan Investor” means any Person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries or a security backed by or representing an interest in any such mortgage loan, and (iii) “Insurer” means a Person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.
Appears in 2 contracts
Samples: Merger Agreement (United Community Banks Inc), Merger Agreement (United Community Banks Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company Company/MHC and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company Company/MHC or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company Company/MHC or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company Company/MHC or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company Company/MHC or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) except as described at pages 23 and 80 - 84 of the PPM, imposed in writing restrictions on the activities (including commitment authority) of the Company Company/MHC or any of its Subsidiaries or (C) indicated in writing to the Company Company/MHC or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company Company/MHC or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company/MHC’s or any of its Subsidiaries’ compliance with laws,
Appears in 2 contracts
Samples: Subscription Agreement, Subscription Agreement (SBM Financial, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) a. The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) b. No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s 's or any of its Subsidiaries’ ' compliance with laws,
Appears in 2 contracts
Samples: At Market Issuance Sales Agreement (Customers Bancorp, Inc.), At Market Issuance Sales Agreement (Customers Bancorp, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(A) (i) The Company and each of its Subsidiaries Cheaha Bank has complied in all material respects with, and (ii) all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedCheaha Bank complies in all material respects with, (Aa) all applicable federal, state and local laws, rules and regulations Legal Requirements with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Legal Requirements relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bb) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Cheaha Bank and any Agency, Loan Investor or InsurerInsurer (as such terms are defined below), (Cc) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Dd) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and.
(iiB) No Agency, Loan Investor or Insurer has (Ai) claimed notified Cheaha Bank in writing that the Company or any of its Subsidiaries Cheaha Bank has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Cheaha Bank to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Cheaha Bank or (Ciii) indicated notified Cheaha Bank in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Cheaha Bank for poor performance, poor loan quality or concern with respect to the CompanyCheaha Bank’s or any of its Subsidiaries’ compliance with laws,.
(C) For purposes of this Section 3.33: (i) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other Governmental Authority with authority to (A) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by Cheaha Bank or (B) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities; (ii) “Loan Investor” means any Person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by Cheaha Bank or a security backed by or representing an interest in any such mortgage loan; and (iii) “Insurer” means a Person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by Cheaha Bank, including any Agency or any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.
Appears in 2 contracts
Samples: Agreement and Plan of Reorganization (Investar Holding Corp), Agreement and Plan of Reorganization (Investar Holding Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(ia) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 2 contracts
Samples: Underwriting Agreement (Pacific Premier Bancorp Inc), Underwriting Agreement (Lakeland Bancorp Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Samples: At Market Issuance Sales Agreement (Unity Bancorp Inc /Nj/)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effectset forth on Section 3.19 of the Company Disclosure Memorandum:
(ia) The Company and each of its Subsidiaries has have complied withwith in all material respects, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of and its Subsidiaries satisfiedsatisfied in all material respects, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of and its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer Insurer, and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (Ciii) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
(c) As used in this Agreement, (i) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other federal or state agency with authority to (x) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries or (y) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities, (ii) “Loan Investor” means any Person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries or a security backed by or representing an interest in any such mortgage loan, and (iii) “Insurer” means a Person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The To the Company’s Knowledge, the Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Samples: Securities Purchase Agreement (Pacific Financial Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(ia) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Each of the Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Samples: Securities Purchase Agreement (Bay Banks of Virginia Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedsatisfied in all material respects, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing material restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiariessubsidiaries’ compliance with laws,.
(iii) For purposes of this Section 3(q): (A) “Agency” shall mean the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other federal or state agency with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including without limitation state and local housing finance authorities; (B) “Loan Investor” shall mean any person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its subsidiaries or a security backed by or representing an interest in any such mortgage loan; and (C) “Insurer” means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its subsidiaries, including, the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral
Appears in 1 contract
Samples: Investment Agreement (Guaranty Financial Group Inc.)
Mortgage Banking Business. Except To the knowledge of the Company (which solely for purposes of this Section 2.2(v) shall include the officer of the Company in charge of the Company’s mortgage banking business), and except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i1) The Company and each of its Subsidiaries Company Subsidiary has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii2) No Except as Previously Disclosed, no Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (C) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,. For purposes of this Section 2.2(v):
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
: (iA) The Company and each of its Subsidiaries the Company’s subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by each of the Company or any of its Subsidiaries Company’s subsidiaries has satisfied, (A1) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B2) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiary and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C3) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D4) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
and (iiB) No Agency, Loan Investor or Insurer has (A1) claimed in writing that the Company or any of its Subsidiaries the Company’s subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company MVB Bank or any of its Subsidiaries the Company’s other subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B2) imposed in writing restrictions on the activities (including commitment authority) of the Company MVB Bank or any of its Subsidiaries the Company’s other subsidiaries or (C3) indicated in writing to the Company MVB Bank or any of its Subsidiaries the Company’s other subsidiaries that it has terminated or intends to terminate its relationship with the Company MVB Bank or any of its Subsidiaries the Company’s other subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s compliance with laws by MVB Bank or any of its Subsidiaries’ compliance with laws,the Company’s other subsidiaries.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have have, individually or in the aggregate, a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with lawsLaws,
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s 's or any of its Subsidiaries’ ' compliance with laws,
Appears in 1 contract
Samples: At Market Issuance Sales Agreement (Southern Missouri Bancorp, Inc.)
Mortgage Banking Business. Except as has for such matters that have not had and would not reasonably be expected to have a Material Adverse Effect:
: (i) The Company and each of its Subsidiaries has have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and Insurer, (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loanloan and (E) the underwriting guidelines and other loan policies and procedures of the Company or any applicable Subsidiary; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,Laws; and (iii) To the Company’s Knowledge, the characteristics of the loan portfolio of the Company have not materially changed from the characteristics of the loan portfolio of the Company as of June 30, 2012. For purposes of this Section 3.l(gg): (A) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other Governmental Authority with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities; (B) “Loan Investor” means any Person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries or a security backed by or representing an interest in any such mortgage loan; and (C) “Insurer” means a Person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the 15 United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral. (hh)
Appears in 1 contract
Samples: Securities Purchase Agreement
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have have, individually or in the aggregate, a Material Adverse Effect:
(i) i. The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) . No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,Laws.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have have, singly or in the aggregate, a Material Adverse Effect:
(iA) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A1) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B2) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C3) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D4) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iiB) No Except as previously disclosed to the Underwriter in writing, no Agency, Loan Investor or Insurer has (A1) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B2) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C3) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as (i) has not had and (ii) would not reasonably be expected to have a Material Adverse Effectmaterial adverse effect:
(ia) The Company Issuer and each of its Subsidiaries subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company Issuer or any of its Subsidiaries satisfied, subsidiaries satisfied (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company Issuer or any of its Subsidiaries subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agencyagency, Loan Investor loan investor or Insurer insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and.
(iib) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company Issuer or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company Issuer or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company Issuer or any of its Subsidiaries subsidiaries or (C) indicated in writing to the Company Issuer or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company Issuer or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the CompanyIssuer’s or any of its Subsidiariessubsidiaries’ compliance with laws,.
(c) For purposes of this Section 3.31: (A) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture or any other federal or state agency with authority to (i) determine any investment, origination, lending or servicing requirements with regard to mortgage loans originated, purchased or serviced by Issuer or any of its Subsidiaries or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities; (B) “Loan Investor” means any person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased or serviced by Issuer or any of its Subsidiaries or a security backed by or representing an interest in any such mortgage loan; and (C) “Insurer” means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by Issuer or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i1) The Company and each of its Subsidiaries Company Subsidiary has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii2) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (CB) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,.
(3) For purposes of this Section 2.2(v):
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(iA) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A1) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B2) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C3) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D4) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iiB) No Except as previously disclosed to the Underwriter in writing, no Agency, Loan Investor or Insurer has (A1) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B2) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C3) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Samples: Underwriting Agreement (First Defiance Financial Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(iA) The Company and each of its Subsidiaries Except as described in the CRA examination report dated March 23, 2015, the Bank has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Bank has satisfied, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Bank and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iiB) No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company Bank or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company Bank or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company Bank or any of its Subsidiaries subsidiaries or (Ciii) indicated in writing to the Company Bank or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company Bank or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the CompanyBank’s or any of its Subsidiariessubsidiaries’ compliance with laws,. For purposes of this Section I(a)(50):
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s 's or any of its Subsidiaries’ ' compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(ia) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Since January 1, 2016, no Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Samples: Securities Purchase Agreement (Business First Bancshares, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a FAHC Material Adverse Effect:
(ia) The Company and each of its Subsidiaries Each FAHC Entity has complied with, and all documentation in connection with the origination, processing, underwriting and underwriting, credit approval and, if applicable, foreclosure of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries FAHC Entity satisfied, (Ai) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, foreclosure or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries FAHC Entity and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company or any of its Subsidiaries FAHC Entity has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries FAHC Entity to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries FAHC Entity or (Ciii) indicated in writing to the Company or any of its Subsidiaries FAHC Entity that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries FAHC Entity for poor performance, poor loan quality or concern with respect to the Companyany FAHC Entity’s or any of its Subsidiaries’ compliance with laws,Laws.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiariessubsidiaries’ compliance with laws,
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not had, nor is reasonably be expected likely to have have, a Material Adverse Effect:
(i) The Company Bank and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced originated by the Company Bank or any of its Subsidiaries satisfied, : (A) all applicable federal, state and local laws, rules and regulations Laws with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, loan modification, loss mitigation or filing of claims in connection with such mortgage loansloans (to the extent any such actions were undertaken by Bank or any of its Subsidiaries), including including, to the extent applicable, all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, in each case applicable as of the time of such origination, processing, underwriting or credit approval; (B) the responsibilities and obligations relating to such mortgage loans set forth in any agreement between the Company Bank or any of its Subsidiaries and any Agency, Loan Investor or Insurer, ; (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer Insurer, in each case applicable as of the time of such origination, processing, underwriting or credit approval and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each such mortgage loan, in each case applicable as of the time of such origination, processing, underwriting or credit approval;
(ii) Each of Bank and its Subsidiaries, as applicable, is approved by and is in good standing: as a seller/servicer by the Federal National Mortgage Association (“Xxxxxx Xxx”) to originate and service conventional residential mortgage; and
(iiiii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company Bank or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company Bank or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the CompanyBank’s or any of its Subsidiaries’ compliance with laws,, unless such matter has been satisfied, cured, resolved or waived.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Capital One Financial Corp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting underwriting, and credit approval of any mortgage loan originated, purchased purchased, or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state state, and local laws, rules rules, and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity opportunity, and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor Investor, or Insurer, (C) the applicable rules, regulations, guidelines, handbooks handbooks, and other requirements of any Agency, Loan Investor Investor, or Insurer Insurer, and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor Investor, or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Subsidiaries, or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality quality, or concern with respect to the Company’s 's or any of its Subsidiaries’ ' compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and underwriting, credit approval and, if applicable, foreclosure of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, foreclosure or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Since January 1, 2011, no Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) a. The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) b. No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(ia) The Company CABF and each of its Subsidiaries has have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of CABF and its Subsidiaries satisfied, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in - 48 - any agreement between the Company or any of CABF and its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has (Ai) claimed in writing that the Company CABF or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company CABF or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company CABF or any of its Subsidiaries or (Ciii) indicated in writing to the Company CABF or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company CABF or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the CompanyCABF’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and its Subsidiary each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting underwriting, and credit approval of any mortgage loan originated, purchased purchased, or serviced by the Company or any of its Subsidiaries Subsidiary satisfied, (A) all applicable federal, state state, and local laws, rules rules, and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity opportunity, and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Subsidiary and any Agency, Loan Investor Investor, or Insurer, (C) the applicable rules, regulations, guidelines, handbooks handbooks, and other requirements of any Agency, Loan Investor Investor, or Insurer Insurer, and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
and (ii) No Agency, Loan Investor Investor, or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Subsidiary, or (C) indicated in writing to the Company or any of its Subsidiaries Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Subsidiary for poor performance, poor loan quality quality, or concern with respect to the Company’s or any of its Subsidiaries’ Subsidiary’s compliance with laws,.
(ii) For purposes of this Section 3.1(00), (A) “Agency” means the Federal Housing Administration, the Federal Home Loan Mortgage Corporation, the Farmers Home Administration (now known as Rural Housing and Community Development Services), the Federal National Mortgage Association, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture, or any other federal or state agency with authority to (i) determine any investment, origination, lending, or servicing requirements with regard to mortgage loans originated, purchased, or serviced by the Company or its Subsidiary, or (ii) originate, purchase, or service mortgage loans, or otherwise promote mortgage lending, including state and local housing finance authorities, (B) “Loan Investor” means any person (including an Agency) having a beneficial interest in any mortgage loan originated, purchased, or serviced by the Company or its Subsidiary or a security backed by or representing an interest in any such mortgage loan, and (C) “Insurer” means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased, or serviced by the Company or its Subsidiary, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture, and any private mortgage insurer, and providers of hazard, title, or other insurance with respect to such mortgage loans or the related collateral.
Appears in 1 contract
Samples: Stock Purchase Agreement (Southern States Bancshares, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(iA) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A1) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B2) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C3) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer Insurer, and (D4) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iiB) No Except as previously disclosed to the Underwriter in writing, no Agency, Loan Investor or Insurer has (A1) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B2) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Subsidiaries, or (C3) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Samples: Underwriting Agreement (MetroCorp Bancshares, Inc.)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse EffectEffect on the Company:
(i) The Company and each of its Subsidiaries has Company Subsidiary have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (C) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,. For purposes of this Section 2.02(y):
Appears in 1 contract
Samples: Subscription Agreement (Sterling Financial Corp /Wa/)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i1) The Company and each of its Subsidiaries Company Subsidiary has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii2) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (C) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,. For purposes of this Section 2.2(v):
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a OGS Material Adverse Effect:
(ia) The Company and each of its Subsidiaries Each OGS Entity has complied with, and all documentation in connection with the origination, processing, underwriting and underwriting, credit approval and, if applicable, foreclosure of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries OGS Entity satisfied, : (Ai) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, foreclosure or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, ; (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries OGS Entity and any Agency, Loan Investor or Insurer, ; (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer Insurer; and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iib) No Agency, Loan Investor or Insurer has has: (Ai) claimed in writing that the Company or any of its Subsidiaries OGS Entity has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries OGS Entity to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, ; (Bii) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries OGS Entity; or (Ciii) indicated in writing to the Company or any of its Subsidiaries OGS Entity that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries OGS Entity for poor performance, poor loan quality or concern with respect to the Companyany OGS Entity’s or any of its Subsidiaries’ compliance with laws,Laws.
Appears in 1 contract
Mortgage Banking Business. Except as as, individually or in the aggregate, has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any AgencyInvestor, Loan Investor Agency or Insurer and (Div) the terms and provisions of the note and any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan an Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan an Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
(iii) For purposes of this Section 3.01(o):
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries subsidiaries has complied in all material respects with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries subsidiaries satisfied, (A) all applicable federal, federal and state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed notified the Company or any of its subsidiaries in writing that the Company or any of its Subsidiaries subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Bank or (C) indicated in writing to the Company or any of its Subsidiaries subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiariessubsidiaries’ compliance with laws,.
Appears in 1 contract
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse EffectEffect or as may otherwise be set forth in Section 4.23 of the Company Disclosure Schedule or in any of the Board Meeting Packages, or as otherwise Previously Disclosed to any manager of the Xxxxxxxxx Fund Manager, to the knowledge of the Company:
(ia) The Company and each of its Subsidiaries has the Bank have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan loans originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedthe Bank since January 1, 2012 has satisfied in all material respects, (Ai) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (Bii) the responsibilities and obligations of the Company or the Bank relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries the Bank and any Mortgage Finance Agency, Loan Investor or InsurerInsurer (as such terms are hereinafter defined), (Ciii) the applicable rules, regulations, guidelines, handbooks and other requirements of any Mortgage Finance Agency, Loan Investor or Insurer and (Div) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and, except for failure to comply or satisfy that have not had and are not reasonably expect to have, either individually or in the aggregate, a Material Adverse Effect on the Company.
(iib) No Mortgage Finance Agency, Loan Investor or Insurer has (Ai) claimed made a claim in writing that to the Company or any the Bank that either of its Subsidiaries them has violated or has not complied in any material respects with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries the Bank to a Loan Investor or Mortgage Finance Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (Bii) imposed in writing any material restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries the Bank, (iii) sought to have the Company or the Bank repurchase a mortgage loan, or (Civ) indicated in writing to the Company or any of its Subsidiaries the Bank that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries the Bank for poor performance, poor loan quality or concern concerns with respect to the Company’s or any of its Subsidiaries’ the Bank’s compliance with laws,applicable laws except, in each case, for any instances that, either individually or in the aggregate, have not had and are not reasonably expected to have a Material Adverse Effect on the Company. Except as disclosed in Section 4.23(b) of the Company Disclosure Schedules, neither the Company nor the Bank has any contingent liabilities for the potential repurchase of mortgage loans sold to any third party which, either individually or in the aggregate, exceeds $2,000,000.
(c) For purposes of this Section 4.23:
Appears in 1 contract
Samples: Common Stock Purchase Agreement (Pacific Mercantile Bancorp)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local lawsLaws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws Laws relating to real estate settlement procedures, consumer credit protection, truth in lending lawsLaws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,Laws.
Appears in 1 contract
Samples: Securities Purchase Agreement (First NBC Bank Holding Co)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or InsurerInsurer (each as defined below), (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or AgencyAgency (other than any claims which are barred by the applicable statute of limitations), or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed imposed, in writing writing, restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated indicated, in writing writing, to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,.
Appears in 1 contract
Samples: At Market Issuance Sales Agreement (Lakeland Bancorp Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have a Material Adverse EffectEffect on the Company:
(i1) The Company and each of its Subsidiaries has Company Subsidiary have complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries Company Subsidiary satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries Company Subsidiary and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii2) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries Company Subsidiary has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries Company Subsidiary to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries Company Subsidiary or (C) indicated in writing to the Company or any of its Subsidiaries Company Subsidiary that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries Company Subsidiary for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ Company Subsidiary’s compliance with laws,. For purposes of this Section 2.2(aa):
Appears in 1 contract
Samples: Investment Agreement (National Penn Bancshares Inc)
Mortgage Banking Business. Except as has not had and would not reasonably be expected to have result in a Material Adverse Effect:
(i) The Company and each of its Subsidiaries has complied with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfied, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(ii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated or has not complied with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s or any of its Subsidiaries’ compliance with laws,
Appears in 1 contract
Samples: Securities Purchase Agreement (Lakeland Bancorp Inc)
Mortgage Banking Business. Except (i) The information (including electronic information and information contained on tapes and computer disks) with respect to all loans of the Company and its Subsidiaries furnished to Purchaser by the Company is, as has of the respective dates indicated therein, true and complete in all material respects; provided, that such information excludes information as would identify the names and addresses or other similar personal information of any customer. The characteristics of the Company's and Xxxxxx Federal Savings Bank's loan portfolio have not had materially and would not reasonably be expected to have a Material Adverse Effect:adversely changed from the characteristics of the loan portfolio as of September 30, 2010.
(iii) The Company and each of its Subsidiaries has complied in all material respects with, and all documentation in connection with the origination, processing, underwriting and credit approval of any mortgage loan originated, purchased or serviced by the Company or any of its Subsidiaries satisfiedhas satisfied in all material respects, (A) all applicable federal, state and local laws, rules and regulations with respect to the origination, insuring, purchase, sale, pooling, servicing, subservicing, or filing of claims in connection with mortgage loans, including all laws relating to real estate settlement procedures, consumer credit protection, truth in lending laws, usury limitations, fair housing, transfers of servicing, collection practices, equal credit opportunity and adjustable rate mortgages, (B) the responsibilities and obligations relating to mortgage loans set forth in any agreement between the Company or any of its Subsidiaries and any Agency, Loan Investor or Insurer, (C) the applicable rules, regulations, guidelines, handbooks and other requirements of any Agency, Loan Investor or Insurer (each as defined below) and (D) the terms and provisions of any mortgage or other collateral documents and other loan documents with respect to each mortgage loan; and
(iiiii) No Agency, Loan Investor or Insurer has (A) claimed in writing that the Company or any of its Subsidiaries has violated violated, in any material respect, or has not complied in any material respect with the applicable underwriting standards with respect to mortgage loans sold by the Company or any of its Subsidiaries to a Loan Investor or Agency, or with respect to any sale of mortgage servicing rights to a Loan Investor, (B) imposed in writing restrictions on the activities (including commitment authority) of the Company or any of its Subsidiaries or (C) indicated in writing to the Company or any of its Subsidiaries that it has terminated or intends to terminate its relationship with the Company or any of its Subsidiaries for poor performance, poor loan quality or concern with respect to the Company’s 's or any of its Subsidiaries’ ' compliance with laws,.
Appears in 1 contract
