Pipeline Loans. Each Pipeline Loan conforms to the Pipeline Requirements and all applicable Investor Commitments in all material respects is eligible for sale to, insurance by, or pooling to back securities issued or guaranteed by the applicable Investor to which the Pipeline Loan may be sold by the Company. All interest rate locks on Pipeline Loans have been conducted and managed in the Ordinary Course of Business and consistent with the Applicable Requirements.
Pipeline Loans. Attached hereto as Section 5.14 Schedule (d)o is a true, complete and accurate list of all Pipeline Loans, as of the Closing Date. Except as set forth in Section 5.14 Schedule (d), the Company is not obligated, directly or indirectly, to any person or entity, to extend credit, fund, purchase or lend funds to any borrower or potential borrower. The employees of the Company originated all Pipeline Loans. Except as set forth on Section 5.14 Schedule (d) and retail Pipeline Loans, all Pipeline Loans are covered by Takeout Commitments.
Pipeline Loans. (a) Section 3.38(a) of the Company Disclosure Schedule sets forth a list and description of all Pipeline Loans, which description includes, with respect to each Pipeline Loan (i) the loan number of the Pipeline Loan; (ii) the immediately anticipated principal balance of the Pipeline Loan; (iii) the interest rate (for Locked Pipeline Loans only); (iv) the product type; (v) the city and state in which the collateral property securing such Pipeline Loan is located; (vi) if known, the closing date; (vii) whether the Pipeline Loan has been approved by Company Bank; and (viii) whether the Pipeline Loan constitutes a Locked Pipeline Loan or an Unlocked Pipeline Loan. Prior to the Closing, the Company shall update, or shall cause Company Bank to update, Section 3.38(a) of the Company Disclosure Schedule as of the Determination Date to disclose the information required by items (i) through (viii) of this Section 3.38(a) with respect to the Pipeline Loans.
Pipeline Loans. Buyer and Acquisition shall be liable for all obligations in connection with pending applications being processed by Acquisition and commitments for mortgage loans issued by Acquisition, in each case which have not closed prior to the Transfer Date.
Pipeline Loans. The Pipeline Loans have been processed, or will be processed prior to the Closing Date, in accordance with, and subject to, Seller's customary and unusual policies and procedures and credit risk criteria, and in the ordinary course of its national mortgage origination business.
Pipeline Loans. The report of the Unlocked Pipeline Loans dated as of the date hereof set forth in Section 2.23 of the PHH Disclosure Letter (the “Pipeline Report”) is correct and complete in all material respects as of the date hereof. Each updated version of such Pipeline Report, when delivered pursuant to Section 1.8, will be correct and complete in all material respects as of the date such updated report is delivered prior to each Subsequent Closing. With respect to each Assumed Pipeline Loan, Sellers have performed all solicitation, application, processing and origination activities related thereto in accordance in all material respects with all Applicable Requirements and Applicable Pipeline Requirements for the applicable stage of processing for each such Pipeline Loan. To the Knowledge of PHH, each Assumed Pipeline Loan arose out of bona fide transactions in the ordinary course of business consistent with Sellers’ past practices. The Mortgage Loan files relating to each Assumed Pipeline Loan accurately and completely reflect, or will reflect, in all material respects, the condition and terms of such Pipeline Loan as of the applicable Closing Date and conform in all material respects to Applicable Requirements and Applicable Pipeline Requirements for the stage of processing. None of the Assumed Pipeline Loans are registered with an applicable Investor pursuant to an Investor Commitment. Sellers are the sole owners of, and no other Person has any interest in or rights relating to, each Assumed Pipeline Loan.
Pipeline Loans. Each Pipeline Loan was underwritten and funded in accordance with applicable underwriting standards of the Seller in effect at the time the Pipeline Loan was originated, and each such Pipeline Loan is in conformity with the applicable underwriting standards. To the Seller’s knowledge, no fraud occurred on the part of any Person in connection with any Pipeline Loan that could adversely affect the Purchaser, or result in the Purchaser incurring a Loss. With regard to interest rate locks on all Pipeline Loans, (a) all Pipeline Loans with a locked interest rate were locked in accordance with the Seller’s written loan lock policies; (b) all Pipeline Loans with a locked interest rate are included on locked loan pipeline or loan production reports; and (c) all extensions of time for the duration of any loan locks on any Pipeline Loan with a locked interest rate are recorded on the books, records, mortgage lending software systems, and reports of the Seller.
Pipeline Loans. On the date that is one (1) Business Day prior to the Closing Date, Seller shall deliver to Buyer a report of Seller’s Pipeline Loans as of such date prepared by the Mortgage Industry Advisory Corporation.
Pipeline Loans. (a) Seller is in compliance with all Applicable Pipeline Requirements in all material respects. Seller has timely filed, or will have timely filed by the Closing Date, all reports that any Governmental Body of competent jurisdiction or Insurer requires that it file with respect to the Business. No Agency has indicated to Seller in writing, or to the Knowledge of Seller, in any other manner, that it has terminated or intends to terminate its relationship with Seller for poor performance, poor loan quality or concern with respect to Seller’s compliance with Applicable Laws and/or Applicable Pipeline Loan Requirements or that Seller is in default under or not in compliance with respect to any Applicable Pipeline Requirements, except as would not, individually or in the aggregate have a Material Adverse Effect.
Pipeline Loans. Purchaser agrees that it shall be responsible for funding and use all its good faith best efforts to close the Pipeline Loans in connection with the Business beginning on the Closing Date, regardless of whether such Pipeline Loans existed on or prior to the Closing Date.
