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 Group. 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. (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.
(b) All interest rate locks on Locked Pipeline Loans have been conducted and managed in Company Bank’s ordinary course of business consistent with past practice and customary banking practices.
(c) For purposes of this Agreement:
Pipeline Loans. All Pipeline Loans have been originated and, if applicable, processed by HomeLoan and, to the best of HomeLoan's knowledge, the Originators and the prior Originators, in the ordinary and usual course of business consistent with past practice and in accordance with all applicable requirements and, if underwritten prior to the Closing Date, conform in all respects to the Correspondent Manual, the Underwriting Guidelines and to the warranties and representations and other requirements for loans as contained in the related Originator Agreement. All of the Pipeline Loans that HomeLoan has underwritten and priced have been underwritten and priced in the ordinary course of business consistent with past practice. None of the Pipeline Loans will be secured by (i) shares of stock in a cooperative corporation, (ii) mobile homes, or (iii) units in a timeshare residence. The HomeLoan Disclosure Schedule lists all of the Pipeline Loans as of October 16, 2000.
Pipeline Loans. (a) As of the close of business on the Closing Date, the Closing Pipeline Loan Tape will contain a list and description of all Pipeline Loans as of the close of business on the Closing Date, which description includes (a) the loan number of the Pipeline Loan, (b) the principal balance of the Pipeline Loan, (c) the interest rate of the Pipeline Loan, (d) product type, (e) the state in which the Mortgaged Property is located; (f) if known, the closing date; (g) whether the Pipeline Loan has been approved by Seller and the applicable Investor; and (h) whether it constitutes a Locked Pipeline Loan or Unlocked Pipeline Loan.
(b) Each Pipeline Loan conforms in all material respects to Applicable Requirements, and each Pipeline Loan 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 Seller, in each case, based on the stage of processing as of Closing.
(c) The origination practices used by Seller with respect to each Pipeline Loan have been in all material respects legal and in accordance with Applicable Requirements.
(d) With respect to each Pipeline Loan, if an appraisal has been obtained as of the Closing Date, the loan-to-value ratio of such Pipeline Loan does not exceed the maximum amount permitted by the applicable investor, if any, and insurer for such Pipeline Loan. To the extent applicable to a given Pipeline Loan based on the stage of processing, the appraisal prepared in connection with property associated with such Pipeline Loan was prepared by a qualified appraiser with no direct or indirect interest in the property and both the appraisal and the appraiser satisfied all Laws and Applicable Requirements.
(e) No fraud or material misrepresentation occurred on the part of any Person in connection with any Pipeline Loan that could adversely affect Purchaser or result in Purchaser incurring any damage or loss, except to the extent that such fraud could have been reasonably discernable by Purchaser in the underwriting processes (provided that Purchaser in fact conducts the underwriting).
(f) All interest rate locks on Locked Pipeline Loans have been conducted and managed in Seller’s ordinary course of business consistent with past practice and customary mortgage banking practices.
(g) None of the Pipeline Loans previously were rejected for purchase by any investor or insurance by any insurer.
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 shall deliver to Buyer prior to the Closing a list of all Seller Pipeline Loans as of the close of business on May 31, 2017, including all applicable information with respect thereto, including whether such Seller Pipeline Loans are locked or unlocked, which list shall be in substantially the same form as Schedule 2.2(a). Seller shall deliver to Buyer within three (3) Business Days following the Closing an updated list reflecting all Seller Pipeline Loans as of the Effective Time, including all applicable information with respect thereto, including whether such Seller Pipeline Loans are locked or unlocked, which list shall be in substantially the same form as Schedule 2.2(a). Seller shall endeavor to exclude from each list delivered pursuant to this Section 2.2(a) any Excluded Pipeline Loans.
(b) The Acquired Assets shall not include any pipeline loans set forth on Schedule 2.2(b) or that do not meet the parameters set forth in Schedule 2.2(b) (all of the foregoing, the “Excluded Pipeline Loans”), and such pipeline loans shall, effective as of the Effective Time, not be deemed Seller Pipeline Loans.
Pipeline Loans. Those pending applications with action that has occurred in the 75 days preceding the Closing of customers of the Division, as of the Closing Date, for Mortgage Loans to be secured by a first or second priority mortgage lien on a one-to-four family residence which have not yet resulted in a closed Mortgage Loan on the Closing Date. These applications could either be “Locked”, the interest rate on the Mortgage Loan has been established, or “Floating”, the interest rate on the Mortgage Loan has not been established.
Pipeline Loans. 19 4.18 [Intentionally Omitted]..............................................19 4.19
Pipeline Loans. All Pipeline Loans have been originated and, if applicable, processed by Seller and, to the best of Seller's knowledge, the Originators and the Prior Originators, in the ordinary and usual course of business consistent with past practice and in accordance with all Applicable Requirements and, if underwritten prior to the Closing Date, conform in all respects to the Correspondent Manual, the Underwriting Guidelines and to the warranties and representations and other requirements for loans as contained in the related Originator Agreement. All of the Pipeline Loans that Seller has underwritten and priced have been underwritten and priced in the ordinary course of business consistent with past practice. None of the Pipeline Loans will be secured by (i) shares of stock in a cooperative corporation, (ii) mobile homes or manufactured housing, or (iii) units in a timeshare residence. The tape or electronic media to be delivered pursuant to Section 6.17 hereof lists all of the Pipeline Loans as of the Pipeline Loan Cut-Off Date.
Pipeline Loans. With respect to each Pipeline Loan:
(a) All documents, applications, records and other documentation in the Loan File are complete and authentic and all signatures thereon are genuine.
(b) Each Pipeline Loan complies with the guidelines of the Relevant Investor.
(c) The information with respect to each Pipeline Loan in all lists attached as Schedules to this Agreement is true and correct.
(d) No material provision of any Pipeline Loan has been waived, altered or modified in any respect except by written instruments or documents contained in the documentation.
(e) All requirements of federal, State and local laws, and regulations thereunder, including, without limitation, usury laws, if any, in respect of the Pipeline Loans have been complied with, and the Pipeline Loans will comply with all legal requirements of the jurisdiction in which they were originated.
(f) The assignment to Purchaser of the Pipeline Loan will not violate the terms or provisions of any such Pipeline Loan or any other agreement to which Seller is a party or by which it is bound.
(g) Any party executing documents contained in the Loan File on behalf of the borrower thereunder had the legal capacity to execute such documents and all other parties to the Pipeline Loan had the legal capacity to execute such documents.
(h) No Pipeline Loan has been rescinded or sold, transferred, assigned or pledged by Seller to any other Person (or any such pledge has been released as evidenced by releases of lien).
