Mortgage Business. (a) Each of Flagstar and each Flagstar Subsidiary (including Flagstar Bank) (i) is and at all relevant times since January 1, 2018 was approved and in good standing, as required, as an issuer of the Government National Mortgage Association (“Xxxxxx Mae”), a seller/servicer of the Federal National Mortgage Association (“Xxxxxx Xxx”) and the Federal Home Loan Mortgage Corporation (“Xxxxxxx Mac”), a lender or mortgagee of the Federal Housing Administration of the U.S. Department of Housing and Urban Development, the United States Department of Veterans Affairs, and the Rural Housing Service of the United States Department of Agriculture, and as otherwise appropriate by all agencies and governmental or quasi-governmental authorities or by all other entities with which such Flagstar entity conducts and has conducted business, (ii) since January 1, 2018, has not received any written notice of any cancellation or suspension of, or material limitation on, its status as a licensee or as an approved issuer, seller/servicer or lender, as applicable, from any of the foregoing Governmental Entities, (iii) since January 1, 2018, has not received any written notice indicating that any event has occurred that would reasonably be expected to result in it not maintaining its Mortgage Servicing Rights in respect of any Servicing Agreement, except, in the case of subclause (iii) only, as would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect on Flagstar, and (iv) holds and at all relevant times since January 1, 2018 held in good standing all required approvals, permits and licenses of all Governmental Entities that are necessary to the conduct of the mortgage banking-related business of Flagstar and the Flagstar Subsidiaries (including Flagstar Bank), as applicable.
Mortgage Business. 26 4.15. Absence of Certain Changes......................................... 33 4.16. Litigation......................................................... 34 4.17. Taxes.............................................................. 34 4.18.
Mortgage Business. (a) Each subsidiary of the Company that services or originates loans (i) is and, after giving effect to the transactions contemplated by this - Agreement, will be, an approved and fully licensed either (1) FHA-approved - mortgagee and servicer for FHA-insured loans, (2) Delegated Underwriting and - Servicing ("DUS") seller/servicer of multi-family first and second mortgages for Xxxxxx Xxx, or (3) GNMA issuer and servicer of GNMA-guaranteed mortgage-backed - securities, as the case may be, and (ii) is in good standing with each of the -- FHA, Xxxxxx Mae and GNMA and all authorities and servicers for the state bond programs in which it participates. Each subsidiary of the Company referred to in clause (i)(2) of the preceding sentence meets, and giving effect to the transactions contemplated by this Agreement, will meet, all applicable Xxxxxx Xxx requirements so as to be able to originate, purchase, hold and service mortgage loans to be sold to Xxxxxx Mae; and each subsidiary of the Company referred to in clauses (i)(1) or (3) of the preceding sentence meets, and giving effect to the transactions contemplated by this Agreement, will meet, all requirements of law and governmental regulations so as to be eligible to originate, purchase, hold and service FHA-insured mortgage loans and to issue mortgage-backed securities guaranteed by GNMA, as the case may be, in each case to the same extent that the Company currently originates, purchases, holds and services loans and issues mortgage backed securities guaranteed by GNMA. There is no pending or, to the Company's knowledge, threatened cancellation or reduction of any loan purchase commitment or other loan sale contract to which the Company or any of its subsidiaries is a party, and the obligations of the Company and its subsidiaries under each such contract are being performed in accordance with its terms. There is no prior consent required to be given by GNMA or the FHA in connection with the Offer, the Merger or the other transactions contemplated by this Agreement in order to continue in full force and effect the respective licenses of the Company and its subsidiaries.
Mortgage Business. (a) As of the date Original Merger Agreement, Knight MORTGAGE SUB (“KMS”) is an approved seller/servicer in good standing with the Government National Mortgage Association (“Xxxxxx Xxx”) and the United States Department of Housing and Urban Development (“HUD”), is duly qualified, licensed, registered and otherwise authorized under all Applicable Law, and, if applicable, meets the minimum capital requirements set forth by the Office of the Comptroller of the Currency. As of the date of the Original Merger Agreement, KMS has not received any notice or other written communication from Xxxxxx Mae or HUD of any pending or threatened adverse change to its good standing with Xxxxxx Xxx or HUD.
Mortgage Business. Patriot and its Subsidiaries have taken all action necessary to exit and discontinue their retail mortgage business (including the retail business conducted by Patriot Bank Mortgage Inc.) prior to the date of this Agreement. Any such activities have been conducted in compliance with applicable law and contracts, and Patriot has paid and/or accrued on its financial statements (and in any event in the Adjusted TBV) all liabilities incurred or expected to be incurred in connection with such exit and discontinuation in accordance with GAAP.
Mortgage Business. (a) As of the date hereof, Knight MORTGAGE SUB (“KMS”) is an approved seller/servicer in good standing with the Government National Mortgage Association (“Xxxxxx Xxx”) and the United States Department of Housing and Urban Development (“HUD”), is duly qualified, licensed, registered and otherwise authorized under all Applicable Law, and, if applicable, meets the minimum capital requirements set forth by the Office of the Comptroller of the Currency. As of the date hereof, KMS has not received any notice or other written communication from Xxxxxx Mae or HUD of any pending or threatened adverse change to its good standing with Xxxxxx Xxx or HUD.
Mortgage Business. The representations and warranties in this Section 3.25 relate specifically to the Mortgage Business of BCSB and the BCSB Subsidiaries and are in addition to and not in limitation of any other representations in this Article 3.
Mortgage Business. (a) Nationstar (i) is approved as an issuer of the Government National Mortgage Association, a seller/servicer of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, and a lender of the Federal Housing Administration, the United States Department of Veterans Affairs and the United States Department of Agriculture, (ii) has not received any written or, to the Knowledge of the Company, any oral or other notice of any cancellation or suspension of, or material limitation on, its status as an approved issuer, seller/servicer or lender, as applicable, from any of the foregoing Governmental Authorities, nor to the Knowledge of the Company does any circumstance exist that could reasonably be expected to result in such cancellation, suspension or material limitation, and (iii) has not received any written notice indicating that any event has occurred that could reasonably be expected to result in the Company or any of its Subsidiaries not maintaining its Mortgage Servicing Rights in respect of any Servicing Agreement, except, in the case of this clause (iii), as has not had or would not reasonably be expected to have, individually or in the aggregate, a Company Material Adverse Effect.
Mortgage Business. (a) Company has not conducted directly, and no Company Subsidiary other than the Mortgage Company Subsidiary and the Mortgage Company Investors has conducted, the Company's business of origination, acquisition, financing, sale, servicing and management of Mortgage Loans in any material respect. The Mortgage Company Subsidiary has complied in all material respects with, and all documentation prepared or used by such Mortgage Company Subsidiary in connection with the origination, processing, underwriting and credit approval of any Mortgage Loan originated or purchased by such Mortgage Company Subsidiary, and has satisfied, in all material respects, (i) all applicable Laws and Applicable Requirements with respect to the origination, insuring, purchase, sale, or pooling of such Mortgage Loans and (ii) the requirements of each Loan Sale Agreement. The Mortgage Company Subsidiary has complied in all material respects with (i) all applicable Laws and Applicable Requirements with respect to the Servicing of such Mortgage Loans and (ii) the requirements of each Servicing Agreement with respect to any Mortgage Loan.
Mortgage Business. (a) Sxxxxxxxxx has not conducted directly, and no Sxxxxxxxxx Subsidiary other than the Mortgage Company Subsidiaries and the Mortgage Company Investor has conducted, Sxxxxxxxxx'x business of origination, acquisition, financing, sale, servicing and management of Mortgage Loans in any material respect. Each Mortgage Company Subsidiary has complied in all material respects with, and all documentation prepared or used by such Mortgage Company Subsidiary in connection with the origination, processing, underwriting and credit approval of any Mortgage Loan originated or purchased by such Mortgage Company Subsidiary, and has satisfied, in all material respects, (i) all applicable Laws and Applicable Requirements with respect to the origination, insuring, purchase, sale, or pooling of such Mortgage Loans and (ii) the requirements of each Loan Sale Agreement. Each Mortgage Company Subsidiary has complied in all material respects with (i) all applicable Laws and Applicable Requirements with respect to the Servicing of such Mortgage Loans and (ii) the requirements of each Servicing Agreement with respect to any Mortgage Loan.
