Origination of Loans. Except as disclosed in writing to Correspondent and accepted by Correspondent prior to the Closing Date, each Loan has been originated in accordance with the Purchase Criteria and the terms and conditions of the applicable Confirmation.
Origination of Loans. Other than approved exceptions, each Loan complies in all material respects with the Seller’s underwriting policies in effect as of such loan’s origination date.
Origination of Loans. Each Loan was originated in the United States of America by Seller in the ordinary course of its business.
Origination of Loans. (i) Cendant shall ensure that all Loans originated under the Correspondent Lending Program shall be closed in accordance with the Correspondent Lending Guide, the applicable Master Purchase Agreement, the applicable Commitment, the Underwriting Guidelines and all Applicable Requirements.
(ii) Promptly after the Effective Date, Cendant shall commence to direct all Correspondent Lenders to forward Loan applications and other materials related to Loans to Cendant for Cendant’s review on behalf of MLCC.
(iii) Cendant shall perform all obligations to be performed by MLCC with respect to Prior Approval Loans pursuant to and in accordance with the Correspondent Lending Guide, the applicable Master Purchase Agreement and the applicable Commitment, including, but not limited to, reviewing all forwarded materials and, subject to Section 4.01, issuing (or not issuing) Approval Letters for Prior Approval Loans. Cendant agrees that it shall use commercially reasonable efforts to provide a credit decision with respect to completed applications on behalf of MLCC within [* * *]of its receipt of a completed application. For each Prior Approval Loan, Cendant may charge [* * *] as an underwriting
(iv) Cendant shall perform all obligations to be performed by MLCC with respect to Delegated Loans pursuant to and in accordance with the Correspondent Lending Guide, the applicable Master Purchase Agreement and the applicable Commitment. For each Delegated Loan, Cendant may charge [* * *] as a loan set-up fee for each such Delegated Loan, or any amount [* * *], and such charge shall be imposed by MLCC on the applicable Correspondent Lender as a third party charge payable to Cendant.
(v) Cendant shall, prior to the closing of each Cendant Loan and at its own cost and expense, prepare and deliver to the closing all documentation relating to the closing of such Cendant Loan. Cendant may elect to have the applicable Wholesale Lender prepare and deliver such documentation on its behalf, provided that Cendant shall make the forms of such documentation available to such Wholesale Lender.
(vi) The applicable Correspondent Lender may elect to pass through any or all of these additional charges to the Borrower subject to Applicable Requirements, and neither Cendant nor MLCC directs the Correspondent Lender to impose such charges on the applicable Borrower.
Origination of Loans. (i) Lender will fund newly originated Loans for the Program Dealers’ customers identified by Servicer that meet the Underwriting Criteria up to the following limits:
(1) A limit of [*****] Dollars ($[*****]) in aggregate outstanding principal balances at any time (the “Commitment Amount”). The Commitment Amount will be increased in accordance with this sub-Article.
(2) [*****].
(ii) If Servicer concludes that a potential Borrower meets the Underwriting Criteria, Servicer shall cause each Borrower of a Loan to execute a Loan Agreement, and other documentation as determined by the Parties, which shall include an interest rate, amount financed, loan term, estimated minimum payment amount, repayment schedule and other terms as set forth in Schedule B.
Origination of Loans. Each Loan was originated in the United States and is evidenced by a promissory note and security agreement between Seller and the related Obligor and shall have been fully and properly executed by the parties thereto.
Origination of Loans. (i) GreenSky® Program. As program administrator of the GreenSky® Program, Servicer shall use commercially reasonable efforts to maintain and develop the network of Program Merchants participating in the GreenSky® Program as a source for Loans to be made by Lender pursuant to this Origination Agreement. Servicer will conduct appropriate due diligence on Program Merchants and Sponsors, share information with Lender as requested by Lender and obtain information from Program Merchants and Sponsors on behalf of Lender as Lender may reasonably require from time to time. Servicer may promote Loans and facilitate acceptance of Loan applications through Program Merchants with whom Servicer has in place a Program Agreement. Servicer has provided Lender with the Borrower Loan Documents, and shall promptly provide to Lender any changes made to Borrower Loan Documents; provided, that Servicer shall obtain the written consent of Lender prior to making any material changes to Borrower Loan Documents. Upon request, Lender shall have the right to review training materials used by Servicer for Program Merchants, including any subsequent material changes made thereto, and Servicer shall consider in good faith Lender’s reasonable comments to such training materials. Servicer shall process applications from prospective borrowers for Loans on behalf of Lender (including retrieving credit reports) to determine whether the applicant meets the Underwriting Criteria. Servicer will only refer applications for applicants that have had their identities verified in accordance with “Know Your Customer” and anti-money laundering criteria under Applicable Law for financial institutions, including without limitation the Anti-Money Laundering Laws. Servicer shall respond to all inquiries from applicants and prospective borrowers regarding the application process. Upon Lender’s request, Servicer shall forward to Lender identifying information for Borrowers who meet the Underwriting Criteria. Servicer shall have no discretion to override the Underwriting Criteria as to any application for a Loan. Servicer shall not offer any Loan on behalf of Lender that is not an Approved Product Offering.
Origination of Loans. 14 SECTION 2.02 Purchases........................................................ 15 SECTION 2.03 Commitment Termination Date...................................... 16 SECTION 2.04
Origination of Loans. Seller shall use commercially reasonable efforts to originate Loans in accordance with the terms of this Agreement and the Sales Criteria from any potential Obligor who would be a purchaser of a condominium unit in the Mortgaged Property for so long as Buyer has not provided Seller thirty (30) days prior notice that it no longer intends to purchase such Loans. All material documents executed and/or delivered in connection with the offering or solicitation of potential Loans or otherwise evidencing, governing, securing or otherwise executed and/or delivered in connection with any such Loans shall be in accordance with the Sales Criteria and shall be subject to the prior written approval of the Buyer except those documents prepared in accordance with FNMA or FHMLC Guidelines which are to be approved by Buyer in advance. Seller shall deliver all such documentation to Buyer at least fifteen (15) days prior to its intended use of such documents, and unless Buyer shall otherwise object, the documents shall be deemed approved by Buyer after such fifteen day period so long as they meet the terms of this Agreement and the Sales Criteria and comply with applicable state and federal laws and regulations.
Origination of Loans. Until the Commitment Termination Date,
(a) FoodService agrees to market the Loan origination program provided by this Agreement to potential obligors and NCB agrees to participate in such marketing. Any expenses incurred by FoodService or NCB in connection with such marketing shall be borne by the party incurring such expense.
(b) FoodService shall refer potential obligors to NCB from time to time for review and a determination of whether to approve loans to such obligors which will, upon origination, be sold to NCB pursuant to this Agreement. Each referral by FoodService of a potential obligor shall contain (i) a certification by a Responsible Officer of FoodService to the effect that to the best of such Officer's knowledge (A) the potential obligor is a member in good standing of FoodService and (B) FoodService's previous business dealings with the potential obligor have been satisfactory and based on the credit history of the potential obligor and FoodService's current dealings with the potential obligor, FoodService knows of no reason why a loan should not be made to the potential obligor and (ii) a recommendation by FoodService to NCB to approve, subject to NCB's general underwriting standards for loans of such nature, the referred loan for a specified amount (or an amount which exceeds such specified amount by the lesser of $100,000 or 10% of the specified amount). NCB shall have full discretion in determining whether to approve any potential loan and obligor referred hereunder by FoodService and shall apply its own credit and underwriting standards in making each such determination.
(c) Prior to sending any Loan Proposal to a potential obligor with respect to a Large Loan, NCB shall forward a copy of such Loan Proposal to FoodService for its review. In addition, prior to sending to a potential obligor a Loan Proposal specifying a loan amount that exceeds the amount recommended by FoodService in its loan referral, NCB shall forward a copy of such Loan Proposal to FoodService for its review.
(d) Pursuant to Section 2.04, NCB, as agent for FoodService, will originate, in the name of FoodService, Loans, provided that the original aggregate Principal Balance of such Loans (excluding Large Loans) shall not exceed the Maximum Purchase Amount. NCB agrees to process and prepare each loan for closing and on the Closing Date for each Loan, execute all Loan documentation as agent for FoodService. NCB will prepare the documentation for each Loan on forms substan...
