Common use of Reg Clause in Contracts

Reg. 860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary period). Any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans;

Appears in 13 contracts

Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He2), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He1), Mortgage Loan Purchase Agreement (First Franklin Mortgage Loan Trust, Series 2007-FFC)

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Reg. 860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary period). Any breach of this representation shall be deemed to materially and adversely affect the value interests of the owner of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans;; (31) No Mortgage Loan provides for interest other than at either (i) a single fixed rate in effect throughout the term of the Mortgage Loan or (ii) a "variable rate" (within the meaning of Treas. Reg.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-H1)

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Reg. 860G-2(a)(3) or any similar rule that treats a defective obligation as a qualified mortgage for a temporary periodperiod and as determined based on the maximum line of credit, rather than the actual amount drawn, with respect to any Mortgage Loan that is a home equity line of credit). Any breach of this representation shall be deemed to materially and adversely affect the value of the Mortgage Loan and shall require a repurchase of the affected Mortgage Loans;

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-Sl1)

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