Common use of Origination and Acquisition of Mortgage Loans Clause in Contracts

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing business, and in accordance with FHA, VA, RHS, Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac standards as applicable, and in accordance with the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs. All Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac or for guaranty by the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice to the Buyer and the Agent of any material change in the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent of any Qualified Originators that are approved following the Effective Date.

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and except with respect to any Jumbo Mortgage Loans or Non-QM Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac standards as applicable, and in accordance with the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Mae or Xxxxxxx Mac or for guaranty by Xxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice to the Buyer and the Agent of any material change in the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent of any Qualified Originators that are approved following the Effective Date. (h) Section 7.28 of the Agreement is hereby amended to read in its entirety as follows:

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and (a) except with respect to any Jumbo Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx MaeXxx, Xxxxxx Xxx and Xxxxxxx Mac standards as applicable, and in accordance and, (b) with respect to any Jumbo Mortgage Loan, the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status underwriting guidelines of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programsapplicable Takeout Investor, if any. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Mae or Xxxxxxx Mac or for guaranty by Xxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice assure that the Buyer has access to the Buyer Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Mae DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and the Agent of any material change in the process and standards pursuant to which Qualified Originators DU are approved and shall notify the Buyer and the Agent of any Qualified Originators not used for Mortgage Loans that are approved following part of the Effective Date“VA IRRRL” or “FHA Streamline” programs.

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and except with respect to any Jumbo Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx Gxxxxx Mae, Xxxxxx Xxx Fxxxxx Mxx and Xxxxxxx Fxxxxxx Mac standards as applicable, and in accordance with the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Fxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx Fxxxxx Mxx DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Fxxxxx Mae or Xxxxxxx Fxxxxxx Mac or for guaranty by Gxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice to the Buyer and the Agent of any material change in the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent of any Qualified Originators that are approved following the Effective Date. (f) Section 7.09 of the Agreement is hereby amended by adding the following sentence to the end thereof: The Seller shall not sell any Jumbo Mortgage Loans hereunder that are subject to any material change, amendment or modification to the Underwriting Guidelines for the Jumbo Mortgage Loans unless the Buyer or the Agent has determined that such changes are acceptable to it. (g) Section 7.38(l) of the Agreement is hereby amended to read in its entirety as follows:

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and except with respect to any Jumbo Mortgage Loans or Non-QM Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac standards as applicable, and in accordance with the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Mae or Xxxxxxx Mac or for guaranty by Xxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice to the Buyer and the Agent of any material change in the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent of any Qualified Originators that are approved following the Effective Date. (h) Section 7.01(c) of the Agreement is hereby amended to read in its entirety as follows:

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and except with respect to any Jumbo Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac standards as applicable, and in accordance with the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Mae or Xxxxxxx Mac or for guaranty by Xxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice to the Buyer and the Agent of any material change in the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent of any Qualified Originators that are approved following the Effective Date. (f) Section 7.09 of the Agreement is hereby amended by adding the following sentence to the end thereof: The Seller shall not sell any Jumbo Mortgage Loans hereunder that are subject to any material change, amendment or modification to the Underwriting Guidelines for the Jumbo Mortgage Loans unless the Buyer or the Agent has determined that such changes are acceptable to it. (g) Part I of Schedule 1 of the Agreement is hereby amended by deleting sub-section (c) in its entirety and replacing it with the following:

Origination and Acquisition of Mortgage Loans. The Mortgage Loans were originated by the Seller or a Qualified Originator, and the origination and collection practices used by the Seller or Qualified Originator, as applicable, with respect to the Mortgage Loans have been, in all material respects legal and in compliance with all laws with respect to unfair and deceptive lending practices and Predatory Lending Practices, proper, prudent and customary in the residential mortgage loan origination and servicing businessbusiness and in accordance with the Underwriting Guidelines, and (a) except with respect to any Jumbo Mortgage Loans, in accordance with FHA, VA, RHS, Xxxxxx Mae, Xxxxxx Xxx and Xxxxxxx Mac standards as applicableapplicable (other than, and in accordance the case of Non-QM Mortgage Loans with conforming balances that such Mortgage Loans may be interest only Mortgage Loans), and, (b) with respect to any Jumbo Mortgage Loan, the Underwriting Guidelines. The Seller shall assure that the Buyer has access to the Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Xxx DeskTop Underwriting (DU) to confirm the approved status underwriting guidelines of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programsapplicable Takeout Investor, if any. All Agency Mortgage Loans are in conformity with the Underwriting Guidelines and are eligible for sale to Xxxxxx Mae, Xxxxxx Xxx Mae or Xxxxxxx Mac or for guaranty by Xxxxxx Mae, the VA or the RHS or for insurance by the FHA, and satisfy all applicable requirements for delivery to the appropriate Agency. Each of the Mortgage Loans complies with the representations and warranties listed in Schedule 1 hereto. The Seller shall provide written notice assure that the Buyer has access to the Buyer Xxxxxxx Mac Loan Prospector (LP) Xxxxxx Mae DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the Agent “VA IRRRL” or “FHA Streamline” programs. (j) The second sentence to Section 7.08 of the Agreement is hereby amended to read in its entirety as follows: The Seller shall provide notice upon becoming aware of any material penalties, sanctions or charges levied, or threatened to be levied, against it or any change or threatened change in approval status, or the process and standards pursuant to which Qualified Originators are approved and shall notify the Buyer and the Agent commencement of any Qualified Originators Agency audit (other than an audit conducted for due diligence purposes in the normal course of business by an Agency in accordance with the Agency’s policies) or investigation (other than a non-material loan level investigation that are approved following is not reasonably likely to result in any adverse action by any Agency), or the Effective Dateinstitution of any action or the threat of institution of any action against Seller by any Agency, HUD or any other agency, or any supervisory or regulatory Governmental Authority supervising or regulating the origination or servicing of mortgage loans by, or the issuer or seller status of, the Seller. (k) Section 7.12 of the Agreement is hereby amended to read in its entirety as follows: