Mortgage Banking Licenses and Qualifications. The Company (to the extent applicable) and each of its Subsidiaries engaged in the business of originating or servicing loans (i) is qualified (A) by the Federal Housing Administration ("FHA") as a mortgagee and servicer for Mortgage Loans which satisfy all applicable rules and requirements to be insured by FHA and which are insured by FHA ("FHA Loans"), (B) by The Veteran's Administration ("VA") as a lender and servicer for Mortgage Loans which satisfy all applicable rules and regulations to be guaranteed by the VA and which are guaranteed by the VA ("VA Loans"), (C) by the Federal National Mortgage Association ("FNMA") and the Federal Home Loan Mortgage Corporation ("FHLMC") as a seller/servicer of first mortgages to FNMA and FHLMC and (D) by the Government National Mortgage Association ("GNMA") as an authorized issuer and servicer of GNMA-guaranteed mortgage-backed securities; and (ii) has all other certifications, authorizations, franchises, licenses, permits and other approvals (together with the items set forth in clause (i) above, the "Licenses") necessary to conduct its current mortgage banking business, and is in good standing under all applicable federal, state and local laws and regulations thereunder as a mortgage lender and servicer. Section 3.25 of the Company Disclosure Letter sets forth a true and complete list of all Licenses. The Company and each of its Subsidiaries has complied with all such Licenses, and to the knowledge of the Company there is no threatened suspension, cancellation or invalidation of, or penalties (including fines or refunds) under, any such Licenses.
Mortgage Banking Licenses and Qualifications. (i) the Company and, to the extent required, each Subsidiary of the Company and each branch of the Company or of any Subsidiary, is qualified (A) by the FHA as a mortgagee for FHA loans (including FHA loans secured by real property other than 1-4 family residences) and as a mortgagee with direct endorsement authority with respect to loans secured by both 1-4 family residences and multi-family residences, (B) by the VA as a lender and servicer for VA loans and (C) by the FNMA and the FHLMC as a seller/servicer of first mortgages to FNMA and FHLMC and by FNMA under the Delegated Underwriting and Servicing Program, (ii) the Company and each of its Subsidiaries has all other certifications, authorizations, licenses, permits and other approvals necessary to conduct its mortgage banking business as currently conducted, and is in good standing under all applicable Federal, state and local laws and regulations thereunder as a mortgage broker, lender and servicer and (iii) as of the date hereof, there is no pending or, to the knowledge of any of the Sellers or the Company, threatened cancellation or reduction of any mortgage sale agreement to which the Company or any of its Subsidiaries is a party and the obligations of the Company and each of its Subsidiaries, as applicable, under each such mortgage sale agreement are being performed by the Company and each of its Subsidiaries, as applicable, in accordance with its terms.
Mortgage Banking Licenses and Qualifications. The Company (to the extent applicable) and each of its Subsidiaries engaged in the business of originating or servicing loans (i) is qualified (A) by FHA as a mortgagee and servicer for FHA Loans, (B) by the VA as a lender and servicer for VA Loans, (C) by FNMA and FHLMC as a seller/servicer of first mortgages to FNMA and FHLMC and (D) by GNMA as an authorized issuer and servicer of GNMA-guaranteed mortgage-backed securities; and (ii) has all other certifications, authorizations, franchises, licenses, permits and other approvals (together with the items set forth in Clause (i) above, the "Licenses") necessary to conduct its current mortgage banking business, and is in good standing under all applicable federal, state and local laws and regulations thereunder as a mortgage lender and servicer. Except as set forth in Section 4.20 of the Disclosure Schedule, neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will affect the validity of any License, and all such Licenses will remain in full force and effect immediately after the Closing Date and the consummation of the transactions contemplated hereby. The Company and each of its Subsidiaries has complied in all material respects with all such Licenses, and the Company knows of no threatened suspension, cancellation or invalidation of, or penalties (including fines or refunds) under, any such License. Section 4.20 of the Disclosure Schedule sets forth a true and complete list of all Licenses.
Mortgage Banking Licenses and Qualifications. SBS (i) is -------------------------------------------- qualified (A) by FHA as a mortgagee and servicer for FHA Loans, and (B) by the VA as a lender and servicer for VA Loans; and (ii) has all other material certifications, authorizations, licenses, permits and other approvals necessary to conduct its current mortgage banking business ("Licenses").
Mortgage Banking Licenses and Qualifications. (i) The Company has all certifications, authorizations, licenses, permits, approvals, governmental licenses, exemptions, classifications and registrations, (collectively, the "Licenses"), necessary to conduct its business, to the extent such business has been or is being conducted by the Company in those jurisdictions where such Licenses are required (the "Mortgage Business"). The Disclosure Schedule to this Section lists every material License that is in effect, has been applied for or is pending. Sellers have made available to Buyer the originals, or if the originals are not available, then true and complete copies of, all of the Licenses.
(ii) All Licenses are in full force and effect. No event has occurred that will constitute or result in a violation of a License, or result in the revocation, suspension, modification or non-renewal of any License. No Seller has received any notice of any actual, alleged or potential violation, revocation, suspension, modification or non-renewal of any License. The Company has complied with all Licenses, and the Sellers know of no threatened suspension, cancellation or invalidation of, or penalties (including fines or refunds) under, any License.
(iii) The Company has not originated mortgage loans through brokers or correspondents since July 1, 1995.
(iv) Except as set forth in the Disclosure Schedule to this Section, the Company is (and has been at all times when each mortgage loan was originated) approved and qualified and in good standing in all states where it has originated mortgage loans under all applicable federal, state and local laws and regulations thereunder (as such laws and regulations existed when each such loan was originated) as a mortgage lender, eligible to originate, purchase, hold, sell and service mortgage loans (to the extent necessary to carry on the Mortgage Business).
Mortgage Banking Licenses and Qualifications. To ____________________________________________ Neihart's and Glackin's Knowledge, Home Team possxxxxx xxx xxxxxxxx certifications, authorizations, licenses, permits, consents, qualifications and orders necessary to conduct its current mortgage banking business ("Licenses"), and is in good standing under all applicable federal, state and local laws and regulations thereunder as a mortgage broker, lender and/or servicer. All of the Licenses are in full force and effect, and to Neihart/Glackin's Knowledge, information and belief, xx xxxxxnsion, modification or cancellation of any of the Licenses is pending or threatened.
Mortgage Banking Licenses and Qualifications. BAC and H&W are authorized FHLMC Program Plus Lenders. BAC and BSC are FNMA-approved seller-servicers. Each Seller has all other certifications, authorizations, licenses, permits and other approvals necessary to conduct its current business, and is in good standing under all Applicable Laws and Mortgage Loan Regulations as a mortgage lender and servicer.
Mortgage Banking Licenses and Qualifications. 14 4.21 [Intentionally Omitted].............................................................................. 15 4.22 Enforceability....................................................................................... 15 4.23 [Intentionally Omitted].............................................................................. 15 4.24
Mortgage Banking Licenses and Qualifications. To the best of Seller's knowledge, Seller has all material certifications, authorizations, licenses, permits and other approvals ("Licenses") necessary to conduct its current mortgage banking business, and is in good standing under all applicable federal, state and local laws and regulations thereunder, as a mortgage lender. A complete list of such Licenses is set forth in Schedule 4.18. The parties shall cause, at Buyer's sole expense, all regulatory filings and other actions necessary or desirable in connection with the Acquisition and change in ownership of the Business of Seller.
Mortgage Banking Licenses and Qualifications. CoreWest (i) is qualified as and is (A) an FHA approved investing lender under 24 C.F.R. 'SS' 202.7; (ii) in all material respects meets all applicable requirements of laws and regulations so as to be eligible to purchase and hold FHA Loans and conventional mortgage loans; and (iii) has all other material certifications, authorizations, licenses, permits and other approvals ("Licenses") necessary to conduct its current mortgage banking business, and is in good standing under all applicable federal, state and local laws and regulations thereunder, as a mortgage lender and servicer. A complete list of such Licenses is set forth in Section 4.18 of the Schedule. Except as set forth in Section 4.18 of the Schedule, neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will affect the validity of any License currently possessed by CoreWest, and all such Licenses will remain in full force and effect after the Closing Date. Shareholders shall cause all regulatory filings and other actions required by any contract to which CoreWest is a party or under any law in connection with the Acquisition and change in ownership of the Business of CoreWest. Section 4.18 of the Schedule sets forth all regulatory actions and consents necessary or appropriate in connection with the Acquisition and change in ownership of the Business.
