No Construction Loans. No Eligible Loan (i) was made in connection with the construction or rehabilitation of a Mortgaged Property which has not been completed, (ii) except for HELOCs, provides for future advances of funds by the Seller that have not yet been advanced or (iii) facilitates the trade-in or exchange of a Mortgaged Property.
Appears in 2 contracts
Samples: Mortgage Loan Repurchase and Servicing Agreement (PHH Corp), Mortgage Loan Repurchase and Servicing Agreement (PHH Corp)
No Construction Loans. No Eligible Loan (i) was made in connection with the construction or rehabilitation of a Mortgaged Property which has not been completed, completed or (ii) except for HELOCs, provides for future advances of funds by the Seller that or the Additional Seller, as applicable, which have not yet been advanced or (iii) facilitates the trade-in or exchange of a Mortgaged Property.
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Servicing Agreement (PHH Corp), Mortgage Loan Purchase and Servicing Agreement (PHH Corp)
No Construction Loans. No Eligible Mortgage Loan (i) was made in connection with the construction or rehabilitation of a Mortgaged Property which has not been completed, (ii) except for HELOCsHELOCs and Closed End Second Mortgage Loans, provides for future advances of funds by the Seller that have not yet been advanced or (iii) facilitates the trade-in or exchange of a Mortgaged Property.
Appears in 1 contract
