Mortgage Loan Application Processing Sample Clauses

Mortgage Loan Application Processing. For each Customer who applies for a Mortgage Loan through the origination channels described in Section 3.3, the Company shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign, accompanied by a request for appropriate Customer documents and (ii) all Mortgage Loan Disclosures. In addition, and to the extent required or permitted under the Venture Underwriting Guidelines, as applicable, the Company shall: (i) verify the Customer’s credit history;

Mortgage Loan Application Processing. For each Customer who applies for a Mortgage Loan, SL shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign accompanied by a request for appropriate Customer documents and (ii) all Mortgage Loan disclosures completed, as appropriate, in the name of SRT. In addition, and to the extent required or permitted under SRT Underwriting Guidelines, as applicable, SL shall: (i) verify the Customer’s credit history; (ii) if requested by SRT, obtain an appraisal or other appropriate valuation of the real property that will secure the Customer’s Mortgage Loan; (iii) cause to be conducted a review of or report on the status of the legal title to the real property prepared by a qualified title company or other entity acceptable to SL and SRT; (iv) evaluate the employment history of the Customer’s principals; (v) evaluate information provided with respect to the Customer by SRT; (vi) perform such other underwriting functions as ▇▇ ▇▇▇▇▇ appropriate; and (vii) communicate a loan decision or counteroffer to the Customer in accordance with all applicable laws. SL shall have the right to select all settlement service providers utilized in fulfilling the processing described hereunder.

Mortgage Loan Application Processing. For each Customer who applies for a Mortgage Loan through the origination channels described in Section 3.3, the Company shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign, accompanied by a request for appropriate Customer documents and (ii) all Mortgage Loan Disclosures. In addition, and to the extent required or permitted under the Venture Underwriting Guidelines, as applicable, the Company shall: (i) verify the Customer’s credit history; (ii) obtain an appraisal or other appropriate valuation of the real property that will secure the Customer’s Mortgage Loan; (iii) cause to be conducted a review of or report on the status of the legal title to the real property prepared by either (A) CSSG, if the Company is permitted to make the service provider decision under Applicable Requirements, or (B) a qualified title company or other entity acceptable to the PHH Member and the Cendant Member, if the Company does not make the service provider decision; (iv) evaluate the Customer’s employment history; (v) evaluate any information provided with respect to the Customer by a Cendant Entity or any of their respective Subsidiaries, (vi) perform such other underwriting functions as the Company deems appropriate, all in accordance with the Venture Underwriting Guidelines; and (vii) communicate a loan decision or counteroffer to the Customer in accordance with all applicable laws.

Mortgage Loan Application Processing. The first sentence of Section 6(c) of the Origination Agreement is revised to read in its entirety as follows: “For each Customer who applies for a Mortgage Loan through the Telemarketing Origination Channel, PHH shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign accompanied by a request for appropriate Customer documents, (ii) all Mortgage Loan disclosures completed, as appropriate, in the name of MLCC and (iii) a properly completed Disclosure of Agency Relationship form for each California Mortgage Loan.” SECTION 2.03 Customer Fees and Charges. A new subsection (f) is added to Section 13 of the Origination Agreement, to read as follows: “(f) Anything in this Section 13 to the contrary notwithstanding, with respect to California Mortgage Loans, all Customer Fees and Charges, non-third party fees, and other fees directly or indirectly charged to the Customer shall be demanded by, or collected on behalf of, MLCC. The Parties may, for their convenience, arrange for PHH to net amounts so charged and collected against amounts owing to PHH under the provisions of this Origination Agreement.” SECTION 2.04

Mortgage Loan Application Processing. The first sentence of Section 6(c) of the Origination Agreement is revised to read in its entirety as follows: “For each Customer who applies for a Mortgage Loan through the Telemarketing Origination Channel, PHH shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign accompanied by a request for appropriate Customer documents, (ii) all Mortgage Loan disclosures completed, as appropriate, in the name of MLCC and (iii) a properly completed Disclosure of Agency Relationship form for each California Mortgage Loan.”

Mortgage Loan Application Processing. For each Customer who applies for a Mortgage Loan through the Telemarketing Origination Channel, PHH shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign accompanied by a request for appropriate Customer documents and (ii) all Mortgage Loan disclosures completed, as appropriate, in the name of MLCC. In addition, and to the extent required or permitted under MLCC Underwriting Guidelines, as applicable, PHH shall: (i) verify the Customer’s credit history; (ii) obtain an appraisal or other appropriate valuation of the real property that will secure the Customer’s Mortgage Loan; (iii) cause to be conducted a review of or report on the status of the legal title to the real property prepared by a qualified title company or other entity acceptable to PHH and MLCC; (iv) evaluate the Customer’s employment history; (v) evaluate information provided with respect to the Customer by MLCC; (vi) perform such other underwriting functions as PHH deems appropriate; and (vii) communicate a loan decision or counteroffer to the Customer in accordance with all applicable laws. PHH shall have the right to select all settlement service providers utilized in fulfilling the processing described hereunder, except for the services to be performed by Lender’s Service, Inc. (“LSI”) pursuant to the Vendor Agreement dated as of July 10, 1998 between LSI and MLCC, which services PHH shall request from LSI pursuant to the terms of such agreement until expiration of the current term or earlier termination thereof.

Mortgage Loan Application Processing. For each Customer who applies for a Mortgage Loan through the Telemarketing Origination Channel, PHH shall arrange for the receipt by the Customer, as promptly as practicable under the circumstances, and in any event in accordance with applicable law, of (i) the Mortgage Loan application for the Customer to review and sign accompanied by a request for appropriate Customer documents and (ii) all Mortgage Loan disclosures completed, as appropriate, in the name of MLCC. In addition, and to the extent required or permitted under MLCC Underwriting Guidelines, as applicable, PHH shall: (i) verify 14