Originator Supervision Clause Samples
The Originator Supervision clause establishes the responsibility of the party initiating a transaction or process (the originator) to oversee and ensure compliance with relevant procedures or standards. In practice, this may require the originator to monitor the activities of agents, subcontractors, or other involved parties, and to implement checks or controls to verify that obligations are being met. The core function of this clause is to ensure accountability and maintain quality or regulatory compliance throughout the execution of the contract, thereby reducing the risk of errors or misconduct.
Originator Supervision. The Mortgage Loan was originated by Countrywide or by a savings bank, a commercial bank or similar banking institution which is supervised and examined by a federal or state authority, or by a mortgagee approved as such by the Secretary of HUD;