No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYER: JPMORGAN CHASE BANK, N.A., a national banking association TODAY’S DATE: ____/____/____ REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30, 2009 between Seller and Buyer (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify that: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting of Seller; (b) to the best of my knowledge, the Financial Statements of Seller from the period shown above (the “Reporting Period”) and which accompany this certificate were prepared in accordance with GAAP and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac and HUD net worth requirements. By:________________________ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period. I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $ II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2 III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $ IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨No
Appears in 1 contract
Samples: Master Repurchase Agreement
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYERQuicken Loans Inc. ADMINISTRATIVE AGENT: JPMORGAN CHASE BANK, N.A., a national banking association N.A. TODAY’S DATE: ____/____/____ / / REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ / / This certificate is delivered to Buyer Administrative Agent under the Master Repurchase Agreement dated effective as of September 30May 2, 2009 between Seller 2013 among Seller, Administrative Agent and Buyer the Buyers party thereto (as amended, the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify on behalf of Seller that: (a) I am, and at all times mentioned herein have been, am the duly elected, qualified, and acting [Chief Financial Officer] [Chief Executive Officer][President] of Seller; (b) to b)to the best of my knowledge, the Financial Statements financial statements of Seller from for, and as of the end of, the period shown above (the “Reporting Period”) and which that accompany this certificate were prepared in accordance with GAAP and present fairly in all material respects the financial condition condition, results of operations, cash flows and changes in shareholders’ equity of Seller and its consolidated Subsidiaries as of the end of of, and for, the Reporting Period Period, all subject, in the case of monthly or quarterly Financial Statements, to normal year-end audit adjustments and the results a lack of its operations for Reporting Periodfootnotes; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, terms and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which disclosure specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, taking and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the related requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance noncompliance and specifying the period of non-compliance noncompliance and what actions Seller proposes to take with respect thereto); ) and (e) Seller was, as of the end of the Reporting Period, in compliance with the applicable net worth requirements of, and in good standing with applicable CLwith, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac and HUD net worth requirementsHUD. By:________________________ : Name:______________________ Title:_______________________ Exhibit C-1 : [Chief Financial Officer] [Chief Executive Officer][President] SELLER: Quicken Loans Inc. REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of of, or for, the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
IIIII. DEBT FOR PURPOSES OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ CALCULATING SELLER’S LEVERAGE RATIO DEBT: $
IVIII. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨No[***]
Appears in 1 contract
Samples: Master Repurchase Agreement (Rocket Companies, Inc.)
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYER[NAME OF APPLICABLE SELLER] ADMINISTRATIVE AGENT: JPMORGAN CHASE BANK, N.A., N.A. a national banking association TODAY’S DATE: ____/____/____ / / REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ / / This certificate is delivered to Buyer Administrative Agent under the Master Repurchase Agreement dated effective as of September 30November , 2009 2013, between Seller Sellers and Buyer Administrative Agent (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify thatthat with respect to Seller indicated above: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting Chief Financial Officer of Seller; (b) to the best of my knowledge, the Financial Statements of Seller from the period shown above (the “Reporting Period”) and which accompany this certificate were prepared in accordance with GAAP and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of DefaultDefault with respect to any Seller, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac Mac, and HUD net worth requirements; (f) this certificate is being delivered by me in my capacity as the Chief Financial Officer of Seller and not in my personal capacity. By:________________________ : Name:______________________ : Title:_______________________ Exhibit C-1 : Chief Financial Officer SELLER: REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨NoPeriod.1
Appears in 1 contract
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE AMERIHOME MORTGAGE LLCCOMPANY, a Delaware limited liability company LLC BUYER: JPMORGAN CHASE BANK, N.A., a national banking association N.A. TODAY’S DATE: ____/____/____ / / REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ / / This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30August 17, 2009 2017 between Buyer and Seller and Buyer (as amended, the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify that: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting Chief Financial Officer of Seller; (b) to the best of my knowledge, the Financial Statements of Seller from the period shown above (the “Reporting Period”) and which that accompany this certificate were prepared in accordance with GAAP and present fairly in all material respects the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, terms and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which disclosure specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, taking and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance noncompliance and specifying the period of non-compliance noncompliance and what actions Seller proposes to take with respect thereto); ) and (e) Seller was, as of the end of the Reporting Period, in compliance with the applicable net worth requirements of, and in good standing with applicable with, CL, Xxxxxx XxxFxxxxx Mxx, Xxxxxx XxxGxxxxx Mxx, Xxxxxxx Fxxxxxx Mac and HUD net worth requirementsHUD. By:________________________ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.Chief Financial Officer
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $1. Master Repurchase Agreement
II2. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨NoSide Letter
Appears in 1 contract
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE XXXXXX MORTGAGE LLC, a Delaware limited liability company COMPANY BUYER: JPMORGAN CHASE BANK, N.A., N.A. a national banking association TODAY’S DATE: ____/____/____ REPORTING PERIOD ENDED: ______ month(s) ended ____/____/____ This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30July __, 2009 2011, between Seller Sellers and Buyer (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify thatthat with respect to Seller indicated above: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting Treasurer of Seller; (b) to the best of my knowledge, the Financial Statements of Seller and any footnotes thereto from the period shown above (the “Reporting Period”) and which accompany this certificate were prepared in accordance with GAAP and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of DefaultDefault with respect to any Seller, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); and (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac Mac, and HUD net worth requirements. By:Name: Title: Treasurer SELLER: REPORTING PERIOD ENDED: ____________________/____/____ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property property, etc. $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): capitalized servicing rights $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: ) $ Minus: Assets pledged to secure liabilities not included in DebtDebt $ Minus: Advances or loans to Shareholders and Affiliates $ Minus: Any assets unacceptable to Buyer or Agencies $ Minus: Unconsolidated Investments in Affiliates (including any unconsolidated Subsidiary) $ Minus: deferred tax assets, pledged assets, assets deemed unacceptable by Agencies and assets unacceptable to Buyer or CL (per definition) $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Lesser of (i) 1.00% times unpaid principal balance of Seller’s Mortgage Loans with Servicing Rights and (ii) capitalized value of Seller’s Servicing Rights $ Plus: Qualified Subordinated Debt: $ Minus: 100% of net book value of Mortgage Loans held for investment $ Plus: Lesser of (A) 50% of net book value of Mortgage Loans held for investment and (B) net book value of Mortgage Loans held for investment $ Minus: net book value of REO Property $ Plus: Lesser of (A) 50% of net book value of REO Property and (B) net book value of REO Property Minus: 50% of net book value of other illiquid investments $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2Yes No
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨NoYes No
V. MAXIMUM WAREHOUSE CAPACITY FACILITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨NoYes No
VI. LIQUIDITY TO TOTAL ASSETS Total LiquidityCash Equivalents: $ Available Purchase Price under Agreement $ Total Assets: Liquidity $ Total Assets $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: ASSETS ___% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨NoYes No
VII. CURRENT RATIO Current Assets $ Current Liabilities $
1.05:1 In compliance? Yes No
VIII. NET INCOME (tested each fiscal quarter)/NET LOSS (tested each fiscal quarter) Net Income for most recently ended full fiscal quarter: $ Minimum required: $1.00 In compliance? Yes No Net Operating Loss for first fiscal quarter $ Maximum permitted: $1,000,000 In compliance? Yes No
IX. PERMITTED DEBT Yes No Yes No Yes No X. PRODUCTION Residential Mortgage Loans Funded $ $ Commercial Loans Funded * $ $ * Commercial loans include 5 or more unit multi-family properties and mixed use properties. Banked Loan Production $ $ Brokered Loan Production $ $ TOTAL VOLUME $ $ Retail as % of Total % % TPO Loans as a % of Total % % Correspondent as a % of Total** % % TOTAL (Must = 100%) % % *Correspondent loans are defined as those that are purchased as closed loans from third parties. Government as % of Total % % Conventional as % of Total % % Jumbo as % of Total % % Alt A as % of Total % % Subprime as % of Total % % Second Mortgages as % % % Other (Describe) % % Total (Must = 100%) % % Purchase as % of Total % % Refinance as a % of Total % % TOTAL (Must = 100%) % % Average FICO % % Average LTV % % Average CLTV
Appears in 1 contract
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in trade‑in or exchange of a Mortgaged Property. EXHIBIT B-2 For purposes of the representations and warranties in this Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYER: JPMORGAN CHASE BANK, N.A., a national banking association TODAY’S DATE: ____/____/____ REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30, 2009 between Seller and Buyer (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify that: (a) I am, and at all times mentioned herein have beenB-2, the duly elected, qualified, and acting phrase “to the knowledge of Seller; (b) ”, “to Seller’s knowledge”, “to the best of my Seller’s knowledge” or other knowledge qualifier will mean, except where otherwise expressly set forth below, the actual state of knowledge of PMC or any servicer acting on its behalf regarding the matters referred to, after PMC’s having conducted such inquiry and due diligence into such matters as required by Xxxxxxx Mac’s underwriting standards set forth in the applicable Agency Guidelines. Capitalized terms used but not defined in this Exhibit B-2 will have the meanings respectively set forth in the applicable Agency Guidelines. For purposes of this Exhibit B-2 and the representations and warranties set forth herein, a breach of a representation or warranty shall be deemed to have been cured with respect to a Xxxxxxx Mac Small Balance Loan if and when PMC has taken or caused to be taken action such that the event, circumstance or condition that gave rise to such breach no longer adversely affects such Mortgage Loan. With respect to each Loan Level Representation that is made in this Exhibit B-2 to Seller’s knowledge, to the Financial Statements best of Seller from Seller’s knowledge or with another knowledge qualifier, if it is discovered by PMC or Buyer that the period shown above (substance of such Loan Level Representation is inaccurate, notwithstanding PMC’s lack of knowledge with respect to the “Reporting Period”) substance of such representation and which accompany this certificate were prepared warranty, such inaccuracy shall be deemed a breach of that Loan Level Representation. PMC represents and warrants with respect to each Xxxxxxx Mac Small Balance Loan to be sold to Buyer hereunder, subject to the exceptions set forth in accordance with GAAP Schedule 1 to the applicable Takeout Commitment, that as of its Purchase Date and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac Funding Date, the following representations and HUD net worth requirements. Bywarranties are true and correct in all material respects:________________________ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨No
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or exchange of a Mortgaged Property. Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYER: JPMORGAN CHASE BANK, N.A., a national banking association TODAY’S DATE: ____/____/____ REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30, 2009 between Seller and Buyer (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify that: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting of Seller; (b) to the best of my knowledge, the Financial Statements of Seller from the period shown above (the “Reporting Period”) and which accompany this certificate were prepared in accordance with GAAP and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac and HUD net worth requirements. By:________________________ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨No
Appears in 1 contract
No Construction Loans. The Mortgage Loan was not made in connection with (a) the construction or rehabilitation of a Mortgaged Property or (b) facilitating the trade-in trade‑in or exchange of a Mortgaged Property. XXXXXXX MAC SMALL BALANCE LOANS REPRESENTATIONS AND WARRANTIES For purposes of the representations and warranties in this Exhibit B-16 EXHIBIT C FORM OF COMPLIANCE CERTIFICATE COMPLIANCE CERTIFICATE SELLER: PULTE MORTGAGE LLC, a Delaware limited liability company BUYER: JPMORGAN CHASE BANK, N.A., a national banking association TODAY’S DATE: ____/____/____ REPORTING PERIOD ENDED: _____ month(s) ended ____/____/____ This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of September 30, 2009 between Seller and Buyer (the “Agreement”), all the defined terms of which have the same meanings when used herein. I hereby certify that: (a) I am, and at all times mentioned herein have beenB-2, the duly elected, qualified, and acting phrase “to the knowledge of Seller; (b) ”, “to Seller’s knowledge”, “to the best of my Seller’s knowledge” or other knowledge qualifier will mean, except where otherwise expressly set forth below, the actual state of knowledge of Seller or any servicer acting on its behalf regarding the matters referred to, after Seller’s having conducted such inquiry and due diligence into such matters as required by Xxxxxxx Mac’s underwriting standards set forth in the applicable Agency Guidelines. Capitalized terms used but not defined in this Exhibit B-2 will have the meanings respectively set forth in the applicable Agency Guidelines. For purposes of this Exhibit B-2 and the representations and warranties set forth herein, a breach of a representation or warranty shall be deemed to have been cured with respect to a Xxxxxxx Mac Small Balance Loan if and when Seller has taken or caused to be taken action such that the event, circumstance or condition that gave rise to such breach no longer adversely affects such Mortgage Loan. With respect to each Loan Level Representation that is made in this Exhibit B-2 to Seller’s knowledge, to the Financial Statements best of Seller’s knowledge or with another knowledge qualifier, if it is discovered by Seller from or Buyer that the period shown above (substance of such Loan Level Representation is inaccurate, notwithstanding Seller’s lack of knowledge with respect to the “Reporting Period”) substance of such representation and which accompany this certificate were prepared warranty, such inaccuracy shall be deemed a breach of that Loan Level Representation. Seller represents and warrants with respect to each Xxxxxxx Mac Small Balance Loan, subject to the exceptions set forth in accordance with GAAP Schedule 1 to the applicable Takeout Commitment, that as of its Purchase Date and present fairly the financial condition of Seller as of the end of the Reporting Period and the results of its operations for Reporting Period; (c) a review of the Agreement and of the activities of Seller during the Reporting Period has been made under my supervision with a view to determining Seller’s compliance with the covenants, requirements, terms, and conditions of the Agreement, and such review has not disclosed the existence during or at the end of the Reporting Period (and I have no knowledge of the existence as of the date hereof) of any Default or Event of Default, except as disclosed herein (which specifies the nature and period of existence of each Default or Event of Default, if any, and what action Seller has taken, is taking, and proposes to take with respect to each); (d) the calculations described on the pages attached hereto evidence that Seller is in compliance with the requirements of the Agreement at the end of the Reporting Period (or if Seller is not in compliance, showing the extent of non-compliance and specifying the period of non-compliance and what actions Seller proposes to take with respect thereto); (e) Seller was, as of the end of the Reporting Period, in compliance and good standing with applicable CL, Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac Funding Date, the following representations and HUD net worth requirements. Bywarranties are true and correct in all material respects:________________________ Name:______________________ Title:_______________________ Exhibit C-1 REPORTING PERIOD ENDED: / / All financial calculations set forth herein are as of the end of the Reporting Period.
I. TANGIBLE NET WORTH The Tangible Net Worth is: Shareholder’s equity: $ Minus: intangible assets – goodwill, intellectual property $ Minus: Advances of loans to shareholders of Seller and Affiliates (net of unsecured payables to the same shareholders and Affiliates): $ Minus: Employee Loans (unless they are advances against commissions): $ Minus: unconsolidated Investments in Affiliates: $ Minus: restricted cash and cash pledged to third parties: $ Minus: Assets pledged to secure liabilities not included in Debt: $ TANGIBLE NET WORTH: $
II. ADJUSTED TANGIBLE NET WORTH Adjusted Tangible Net Worth is: Tangible Net Worth (from above): $ Plus: Qualified Subordinated Debt: $ ADJUSTED TANGIBLE NET WORTH: $ REQUIRED MINIMUM (through Termination Date) $57,000,000 In compliance? ¨Yes ¨No Exhibit C-2
III. DEBT OF SELLER Total Liabilities $ Plus: off balance sheet debt: $ Minus: loan loss reserves (if included in liabilities): $ Minus: deferred taxes arising from capitalized excess servicing fees: $ Minus: operating leases $ Minus: Qualified Subordinated Debt $ DEBT: $
IV. LEVERAGE RATIO: DEBT TO ADJUSTED TANGIBLE NET WORTH Debt (from above): $ Adjusted Tangible Net Worth: $ RATIO OF DEBT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 10:1 In compliance? ¨Yes ¨No
V. MAXIMUM WAREHOUSE CAPACITY RATIO Total Available Warehouse Facilities: $ Adjusted Tangible Net Worth (from above): $ RATIO OF TOTAL AVAILABLE WAREHOUSE CREDIT/ADJUSTED TANGIBLE NET WORTH: __:1 Maximum permitted 20:1 In compliance? ¨Yes ¨No
VI. LIQUIDITY TO TOTAL ASSETS Total Liquidity: $ Total Assets: $ LIQUIDITY AS A PERCENTAGE OF TOTAL ASSETS: __% Amount of Liquidity Required 3% of Total Assets In compliance? ¨Yes ¨No
Appears in 1 contract
Samples: Master Repurchase Agreement (Pennymac Financial Services, Inc.)
