Mortgage Banking Qualification. HSL (together with each other Selling Company that services or originates Mortgage Loans) (a) to the extent required for the conduct of the Business, is approved (i) by HUD as an approved mortgagee and servicer for FHA Loans, (ii) by VA as an approved lender and servicer for VA Loans, (iii) by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages and (iv) by GNMA as an authorized issuer and approved servicer of GNMA-guaranteed mortgage-backed securities, (b) has all other material certifications, authorizations, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency) and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender and servicer. None of Sellers or any Selling Company has received any notice or information from any Governmental Authority that it intends to terminate or restrict HSL's status (or that of any other Selling Company that services or originates Mortgage Loans) as an approved participant in its programs for which HSL or such Selling Company is as of the date hereof registered, approved or authorized.
Mortgage Banking Qualification. FNB and each other First Xxxxxxx Subsidiary (a) to the extent required for the conduct of the Mortgage Business, is approved (i) by HUD as an approved non-supervised mortgagee for FHA Loans, (ii) by VA as an approved lender for VA Loans, and (iii) by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages; (b) has all other material certifications, authorization, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Mortgage Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency); and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender. Neither First Xxxxxxx nor FNB nor any other First Xxxxxxx Subsidiary has received any notice or information from any Governmental Authorities that it intends to terminate or restrict First Chester’s, FNB’s or any other First Xxxxxxx Subsidiary, or First Xxxxxxx, FNB or any other First Xxxxxxx Subsidiary employee’s status as an approved participant in its Mortgage Business for which First Xxxxxxx, FNB or any First Xxxxxxx Subsidiary is registered, approved or authorized.
Mortgage Banking Qualification. Except as set forth in Section 4.4(a), 4.4(b), 4.9(a) or 5.8 of the Disclosure Schedule, Seller (a) to the extent required for the conduct of the Acquired Business, is approved (i) by FHA as an approved mortgagee and servicer for FHA Loans, (ii) by VA as an approved lender and servicer for VA Loans, (iii) by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages and (iv) by GNMA as an authorized issuer and approved servicer of GNMA-guaranteed mortgage-backed securities, (b) has all other material certifications, authorizations, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Acquired Business (or, where legally permissible, any waiver of or exemption from any of the forgoing by such Agency or State Agency) and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder (the approvals set forth in this Section 5.8 being collectively referred to as "Licenses").
Mortgage Banking Qualification. BCSB Bank and each other BCSB Subsidiary (i) to the extent required for the conduct of the Mortgage Business, is approved and not suspended by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages; (ii) has all other material certifications, authorization, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Mortgage Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency); and (iii) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender. Neither BCSB nor any BCSB Subsidiary has received any notice or information from any Governmental Entity that it intends to terminate or restrict the status of BCSB, any BCSB Subsidiary or any employee of BCSB or a BCSB Subsidiary as an approved participant in its Mortgage Business for which BCSB or any BCSB Subsidiary is registered, approved or authorized.
Mortgage Banking Qualification. HomeSide: (a) to the extent required for the ownership of the Servicing or Mortgage Loans, is approved (i) by HUD as an approved mortgagee and servicer for FHA Loans, (ii) by VA as an approved lender and servicer for VA Loans, (iii) by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages and (iv) by GNMA as an authorized issuer and approved servicer of GNMA-guaranteed mortgage-backed securities, (b) has all other material certifications, authorizations, licenses, permits and other approvals, including, without limitation, those required by State Agencies, that are necessary to own the Servicing or Mortgage Loans (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency) and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender and servicer except for matters that would not reasonably be expected to have a Material Adverse Effect on the Subject Companies. No Seller, Subject Company or HomeSide Subsidiary has received any notice or information from any Governmental Authority that it intends to terminate or restrict HomeSide's status as an approved participant in its programs for which such HomeSide is as of the date hereof registered, approved or authorized.
Mortgage Banking Qualification. AHB (a) to the extent required for the conduct of the Mortgage Business, is approved (i) by HUD as an approved non-supervised mortgagee for FHA Loans, (ii) by VA as an approved lender for VA Loans, and (iii) by FNMA and FHLMC as an approved seller/servicer of first lien residential mortgages; (b) has all other material certifications, authorization, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Mortgage Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency); and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender. AHB has not received any notice or information from any Governmental Authorities that it intends to terminate or restrict AHB’s or any AHB employee’s status as an approved participant in its Mortgage Business for which AHB is registered, approved or authorized.
Mortgage Banking Qualification. Seller (a) to the extent required for the conduct of the Business as currently conducted, is approved (i) by HUD as an approved mortgagee for FHA Loans, and (ii) by VA as an approved lender for VA Loans, (b) has all other material certifications, authorizations, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency) as currently conducted; and (c) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender. Seller has not received any notice or information from any Governmental Authority that it intends to terminate or restrict Seller’s or any Key Employee’s status as an approved participant in its programs for which Seller is as of the date hereof registered, approved or authorized.
Mortgage Banking Qualification. The Company and each Subsidiary (i) to the extent required for the conduct of its business, is approved (A) by FHA as an endorsed mortgagee and servicer for FHA Loans, (B) by VA as an endorsed lender and servicer for VA Loans and (C) by FNMA as an approved seller/servicer of first lien residential mortgages. Such approvals are current. Each of the Company and its Subsidiaries is also in compliance with all conditions and requirements necessary to maintain the Licenses and Permits in full force and effect, including the giving of necessary notices and the maintenance of a minimum net worth. Each of the Company and its Subsidiaries has timely filed all reports required to be filed with the FHA. The Company and its Subsidiaries have not received notice that the most recent audits conducted by FNMA of any of the Company's and its Subsidiaries' financial position were not satisfactory to such entities and such audits were satisfactory to such entities.
Mortgage Banking Qualification. OBA Bank and each other OBA Subsidiary, (i) to the extent required for the conduct of the Mortgage Business, is approved and not suspended (A) by HUD as an approved non-supervised mortgagee for FHA Loans, (B) by VA as an approved lender for VA Loans, and (C) by FNMA and by FHLMC as an approved seller/servicer of first lien residential mortgages; (ii) has all other material certifications, authorization, licenses, permits and other approvals, including without limitation those required by State Agencies, that are necessary to conduct the Mortgage Business (or, where legally permissible, any waiver of or exemption from any of the foregoing by such Agency or State Agency); and (iii) is in good standing under all applicable federal, state and local laws and regulations thereunder as a lender. Neither OBA nor any OBA Subsidiary has received any notice or information from any Governmental Entity that it intends to terminate or restrict the status of OBA, any OBA Subsidiary or any employee of OBA or an OBA Subsidiary as an approved participant in its Mortgage Business for which OBA or any OBA Subsidiary is registered, approved or authorized.
Mortgage Banking Qualification. Except as set forth in Section 5.6 of the Seller Disclosure Schedule, each of the Company and the Related Companies: (a) to the extent required for the conduct of its business is approved (i) by FHA as an approved mortgagee and servicer for FHA Loans, (ii) by VA as an approved lender and servicer for VA Loans, (iii) by FNMA and FHLMC as an approved seller/servicer of first lien Mortgage Loans, and (iv) by GNMA as an authorized issuer and approved servicer of GNMA-guaranteed mortgage-backed securities and (b) has all other material certifications, authorizations, licenses, permits and other approvals, including, without limitation, those required by State Agencies, that are necessary to conduct the Company's and the Related Companies' business as it presently is being conducted (the approvals set forth in this Section 5.6 being collectively referred to as "Licenses" and are listed on Section 5.6 of the Seller Disclosure Schedule). Xxxxxx Loan Servicing LP is an approved "Alternative Loan Servicer" and "Residential Special Servicer" by Standard & Poor's Corporation and is rated "RSS1" as a Special Servicer, and "RPS2" as a Primary Servicer--Subprime Loans and Primary Servicer--HLTV Loans by Fitch IBCA. The Company and each Related Company has complied with, and is in compliance with all requirements relating to, all such Licenses, and none of the Company or any Related Company knows of challenges against, nor any threatened suspension, cancellation or invalidation of, nor any material penalties (including fines or refunds) under, any such License. Except as set forth in Section 5.6 of the Seller Disclosure Schedule, neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby will affect the validity of any such License, and all such Licenses will remain in full force and effect immediately after the Closing Date. The Company and each Related Company has complied with, and is in compliance with all requirements relating to, all such Licenses, and the Company and each Related Company knows of no challenges against, nor any threatened suspension, cancellation or invalidation of, nor any material penalties (including fines or refunds) under any such License.
