Representations and Warranties as to the Mortgage Loans. (a) The Seller hereby represents, warrants and covenants to the Trustee, the Servicer and the Depositor that:
(i) Pursuant to the Mortgage Loan Purchase Agreement, the representations and warranties in Schedule 4 attached hereto, of the Originator with respect to the Mortgage Loans, which have been assigned to the Trustee hereunder, were made as of the Whole Loan Sale Date.
(ii) With respect to the period from such Whole Loan Sale Date to and including the Closing Date, the Seller hereby makes the representations and warranties in Schedule 4 attached hereto, to and for the benefit of the Depositor, the Trustee and the Trust Fund.
(b) In addition, the Seller hereby represents and warrants to the Trustee, the Servicer and the Depositor that, as of the Closing Date, (i) no Mortgage Loan is subject to the Home Ownership and Equity Protection Act of 1994 or any applicable, similar federal, state or local statutes or regulations related to “high cost” mortgage loans or “predatory,” “high cost,” “threshold” or “covered” lending (as such terms are defined in the applicable statute or regulation), (ii) no Mortgage Loan is (w) a “High-Cost Home Loan” as defined in the New Jersey Home Ownership Act effective November 27, 2003, (x) a “High-Cost Home Loan” as defined in the New Mexico Home Loan Protection Act effective January 1, 2004, (y) a “High Cost Loan” or “Covered Loan” (as such terms are defined in the then-current S&P’s LEVELS® Glossary), or (z) governed by the Georgia Fair Lending Act, if such Mortgage Loan was originated on or after October 1, 2002 through Xxxxx 0, 0000, (xxx) each Mortgage Loan at origination complied in all material respects with applicable local, state and federal laws, including, but not limited to, applicable anti-predatory and abusive lending laws, and (iv) each Mortgage Loan is a “qualified mortgage” within the meaning of 860G(a)(3) of the Code.
(c) In addition, the Seller hereby represents and warrants to the Trustee, the Servicer and the Depositor that, as of the Closing Date, with respect to each Group 1 Mortgage Loan, (i) the original principal balance of such Mortgage Loan is within Xxxxxxx Mac’s dollar amount limits for conforming one- to four-family mortgage loans, and (ii) the date of the related Mortgage Note is not greater than one year prior to the Closing Date).
(d) If the substance of the representations and warranties in clauses (a)(ii), (b) or (c) of this Section 2.06 are determined to have been breached, then the Seller...
Representations and Warranties as to the Mortgage Loans. The Seller hereby represents, warrants and covenants to the Trustee, the Servicer, the Securities Administrator and the Depositor that the representations and warranties of the Originator with respect to the Mortgage Loans in Schedule 4 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Closing Date. If the substance of the representations and warranties referred to above are determined to have been breached, then the Seller will perform the remedy specified in Section 2.03 herein.
Representations and Warranties as to the Mortgage Loans. (a) The Seller hereby represents, warrants and covenants to the Trustee, the Servicer and the Depositor that:
(i) Pursuant to the American Home Assignment and Assumption Agreement, the representations and warranties of American Home with respect to the American Home Mortgage Loans in Schedule 4 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Closing Date.
(A) Pursuant to the CHF Home Assignment and Assumption Agreement, the representations and warranties of American Home with respect to the CHF Mortgage Loans in Schedule 5 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Whole Loan Sale Date.
(B) With respect to the period from such Whole Loan Sale Date to and including the Closing Date, the Seller hereby makes the representations and warranties in Schedule 5 attached hereto, to and for the benefit of the Depositor, the Trustee and the Trust Fund as of the Closing Date.
(A) Pursuant to the Fremont Assignment and Assumption Agreement, the representations and warranties of Fremont (other than the last sentence of the representation and warranty (d) set forth in Schedule 6 with respect to the Mortgage Loan listed in Schedule 18) with respect to the Fremont Mortgage Loans in Schedule 6 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Closing Date.
(B) With respect to last sentence of the representation and warranty (d) set forth in Schedule 6 with respect to the Mortgage Loan listed in Schedule 18, the Seller hereby makes such representation and warranty to and for the benefit of the Depositor, the Trustee, the Securities Administrator and the Trust Fund as of the Closing Date.
(iv) Pursuant to the GreenPoint Home Assignment and Assumption Agreement, the representations and warranties of American Home with respect to the GreenPoint Mortgage Loans in Schedule 7 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Closing Date.
(v) Pursuant to the Market Street Assignment and Assumption Agreement, the representations and warranties of Market Street with respect to the Market Street Mortgage Loans, in Schedule 8 attached hereto, which have been assigned to the Trustee hereunder, were made as of the Closing Date.
(vi) Pursuant to the NetBank Assignment and Assumption Agreement, the representations and warranties of NetBank with respect to the NetBank Mortgage Loans, in Schedule 9 attached hereto, which have been a...
Representations and Warranties as to the Mortgage Loans. The Seller hereby represents, warrants and covenants to the Trustee, the Servicer, the Securities Administrator and the Depositor that:
(i) Pursuant to the Assignment and Assumption Agreement, the representations and warranties in Schedule 4 attached hereto, (other than those representations and warranties set forth in paragraphs (a), (b), (c), (e), (g), (k), (l), (m), (p), (x), (bb), (kk), (mm), (pp), (tt), (vv) and (zz) of such Schedule 4) of the originator with respect to the Mortgage Loans, which have been assigned to the Trustee hereunder, were made as of the Closing Date.
(ii) Pursuant to the Assignment and Assumption Agreement, the representations and warranties of the Originator set forth in paragraphs (a), (bb) and (vv) of Schedule 4 attached hereto were made as of the Whole Loan Sale Date under the Mortgage Loan Purchase Agreement.
(iii) With respect to the period from such Whole Loan Sale Date to and including the Closing Date, the Seller hereby makes the representations and warranties contained in paragraph (a), (bb) and (vv) of Schedule 4 attached hereto to and for the benefit of the Depositor, the Trustee, the Securities Administrator and the Trust Fund.
(iv) Pursuant to the Assignment and Assumption Agreement, the representations and warranties of the Originator set forth in paragraphs (b), (c), (e), (g), (k), (l), (m), (p), (x), (kk), (mm), (nn), (pp), (tt) and (zz) of Schedule 4 attached hereto were made as of the Servicing Transfer Date under the Mortgage Loan Purchase Agreement.
(v) With respect to the period from such Servicing Transfer Date to and including the Closing Date, the Seller hereby makes the representations and warranties contained in paragraphs (b), (c), (e), (g), (k), (l), (m), (p), (x), (kk), (mm), (nn), (pp), (tt) and (zz) of Schedule 4 attached hereto to and for the benefit of the Depositor, the Trustee, the Securities Administrator and the Trust Fund. If the substance of the representations and warranties referred to in clause (i), (ii), (iii), (iv) and (v) above are determined to have been breached, then the Seller will perform the remedy specified in Section 2.03 herein.
Representations and Warranties as to the Mortgage Loans. The Mortgage Loan Seller hereby makes the representations and warranties attached hereto as Schedule I (subject to the exceptions set forth in Exhibit D) with respect to each Mortgage Loan, as of the date specified therein or, if no such date is specified, as of the Closing Date.
Representations and Warranties as to the Mortgage Loans. All percentages herein reflect the Mortgage Pool disclosed in the Prospectus. The actual percentages will vary based on the actual Mortgage Loans transferred to the Trust.
Representations and Warranties as to the Mortgage Loans. The representations and warranties with respect to the Mortgage Loans in the Transfer Agreements were made as of the date specified in each such Transfer Agreement. The Seller's right, title and interest in such representations and warranties and the remedies in connection therewith have been assigned to the Purchaser pursuant to (i) the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and among the Seller, the Purchaser, the Trustee, and Xxxxx Fargo, (ii) the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and among the Seller, the Purchaser, the Trustee and Countrywide, (iii) the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and among the Seller, the Purchaser, the Trustee and GreenPoint, (iv) the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and among the Seller, the Purchaser, the Trustee and Chase Bank, (v) the Assignment, Assumption and Recognition Agreement, dated January 31, 2006, by and among the Seller, the Purchaser, the Trustee and National City. To the extent that any fact, condition or event with respect to a Mortgage Loan constitutes a breach of both (i) a representation or warranty of a Servicer under the related Transfer Agreement and (ii) a representation or warranty of the Seller under this Agreement, the only right or remedy of the Purchaser shall be the right to enforce the obligations of the applicable Servicer under any applicable representation or warranty made by it. The Purchaser acknowledges and agrees that the representations and warranties of the Seller in this Section 3 are applicable only to facts, conditions or events that do not constitute a breach of any representation or warranty made by a Servicer in the related Transfer Agreement. The Seller shall have no obligation or liability with respect to any breach of a representation or warranty made by it with respect to the Mortgage Loans if the fact, condition or event constituting such breach also constitutes a breach of a representation or warranty made by a Servicer in the related Transfer Agreement (other than with respect to the representations or warranties in Section 3(k) to the extent such representations and warranties relate to predatory or abusive lending and the representations and warranties in Section 3(o) below), without regard to whether each Servicer fulfills its contractual obligations in respect of such representation or warranty. Subject t...
Representations and Warranties as to the Mortgage Loans. (a) The Depositor hereby represents and warrants to the Trustee for the benefit of Certificateholders, the Securities Administrator, the Master Servicer, NYMT Servicing and the Subservicer as of the Closing Date or such other date as is specified, that:
(i) This Agreement constitutes a legal, valid and binding obligation of the Depositor, enforceable against the Depositor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors’ rights in general and except as such enforceability may be limited by general principles of equity (whether considered in a proceeding at law or in equity);
(ii) Immediately prior to the transfer by the Depositor to the Trust Estate of each Mortgage Loan, the Depositor had good and equitable title to each Initial Mortgage Loan (insofar as such title was conveyed to it by the Seller) subject to no prior lien, claim, participation interest, mortgage, security interest, pledge, charge or other encumbrance or other interest of any nature;
(iii) As of the Closing Date, the Depositor has transferred all right, title and interest in the Initial Mortgage Loans to the Trust Estate;
(iv) The Depositor has not transferred the Initial Mortgage Loans to the Trust Estate with any intent to hinder, delay or defraud any of its creditors;
(v) The Depositor has been duly organized and is validly existing as a corporation in good standing under the laws of Delaware, with full power and authority to own its assets and conduct its business as presently being conducted; and
(b) The Seller hereby represents and warrants to the Trustee for the benefit of Certificateholders, the Securities Administrator, the Master Servicer, NYMT Servicing, the Subservicer and the Depositor as of the Closing Date or such other date as is specified, that:
(i) the Seller is a New York limited liability company, duly organized validly existing and in good standing under the laws of the State of New York, and has the corporate power to own its assets and to transact the business in which it is currently engaged. The Seller is duly qualified to do business as a foreign limited liability company and is in good standing in each jurisdiction in which the character of the business transacted by it or any properties owned or leased by it requires such qualification and in which the failure so to qualify would have a mat...
Representations and Warranties as to the Mortgage Loans. The Mortgage Loan Seller hereby represents and warrants with respect to each Mortgage Loan that, as of the date specified below or, if no such date is specified, as of the Cut-off Date:
(i) Mortgage Loan Schedule. The Mortgage Loan Schedule is true, complete and accurate in all material respects as of June 1, 1999.
Representations and Warranties as to the Mortgage Loans. The Company hereby represents and warrants as to each Mortgage Loan, as of the date on which the Company transferred servicing of the Mortgage Loan to the Purchaser, or its designee (the "Servicing Transfer Date"), unless otherwise set forth below:
