Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxx-xx-xncome ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 12 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He5), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He2), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He8)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxxdebt-xxtx-xncome xxxxxx ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 6 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Capital I Inc. Trust 2006-He2), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He4), Pooling and Servicing Agreement (MSAC Trust 2006-He3)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxxdebt-xxto-xncome income ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He4), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He5), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He5)
Mortgagor Selection. No Mortgagor was encouraged xxx xncouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxxdebt-xxto-xncome income ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 4 contracts
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-Wmc1), Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley Capital I Inc. Trust 2006-He1)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller Mortgage Loan’s originator which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's ’s origination, such Mortgagor did not qualify taking into account credit history and xxxx-xx-xncome debt to income ratios for a lower-lower cost credit product then offered by the Seller Mortgage Loan’s originator or any Affiliate affiliate of the Seller with which the Seller has a referral relationship or mechanism in placeMortgage Loan’s originator. If, at the time of loan application, the Mortgagor may have qualified for a lower-for a lower cost credit product then offered by any mortgage lending Affiliate affiliate of the Seller with which the Seller has a referral relationship or mechanism in placeMortgage Loan’s originator, the Seller Mortgage Loan’s originator referred the related Mortgagor's ’s application to such Affiliate affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Breach Representation;
Appears in 2 contracts
Samples: Master Mortgage Loan Purchase Agreement (GSR Mortgage Loan Trust 2007-Ar2), Master Mortgage Loan Purchase Agreement (GSR Mortgage Loan Trust 2006-10f)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's ’s origination, such Mortgagor did not qualify taking into account credit history and xxxx-xx-xncome debt to income ratios for a lower-lower cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-lower cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's ’s application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxxdebt-xxto-xncome ratios xxxxxx xatios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He4)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller Mortgage Loan's originator which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxx-xx-xncome debt to income ratios for a lower-lower cost credit product then offered by the Seller Mortgage Loan's originator or any Affiliate affiliate of the Seller with which the Seller has a referral relationship or mechanism in placeMortgage Loan's originator. If, at the time of loan application, the Mortgagor may have qualified for a lower-for a lower cost credit product then offered by any mortgage lending Affiliate affiliate of the Seller with which the Seller has a referral relationship or mechanism in placeMortgage Loan's originator, the Seller Mortgage Loan's originator referred the related Mortgagor's application to such Affiliate affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Breach Representation;
Appears in 1 contract
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-17)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's ’s origination, such Mortgagor did not qualify taking into account credit history and xxxxdebt-xxto-xncome income ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's ’s application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He7)
Mortgagor Selection. No Mortgagor was encouraged or required to select a Mortgage Loan product offered by the Seller which is a higher cost product designed for less creditworthy mortgagors, unless at the time of the Mortgage Loan's origination, such Mortgagor did not qualify taking into account credit history and xxxxdxxx-xx-xncome xxcome ratios for a lower-cost credit product then offered by the Seller or any Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place. If, at the time of loan application, the Mortgagor may have qualified for a lower-cost credit product then offered by any mortgage lending Affiliate of the Seller with which the Seller has a referral relationship or mechanism in place, the Seller referred the related Mortgagor's application to such Affiliate for underwriting consideration. This representation and warranty is a Deemed Material and Adverse Representation;
Appears in 1 contract
Samples: Mortgage Loan Purchase and Warranties Agreement (Morgan Stanley ABS Capital I Inc. Trust 2006-He4)