Representations and Warranties Concerning Mortgage Loans. With respect to each Mortgage Loan:
Representations and Warranties Concerning Mortgage Loans. Without limiting or modifying anything contained in Section 11 of the Agreement and in addition to each of the representations and warranties set forth in Annex 2 concerning each Mortgage Loan then sold to MBF (as such representations and warranties may be modified by another Annex) and each representation and warranty concerning the Mortgage Loan set forth in another applicable Annex, Seller also makes the following additional representation and warranty: The principal amount of the Mortgage Loan is not in excess of $1,500,000.00 on the Acquisition Date for such Mortgage Loan.
Representations and Warranties Concerning Mortgage Loans. Each delivery of a Loan Purchase Detail by Originator shall be deemed to constitute, as of the date of such delivery (or, if another date is expressly provided in such representation or warranty, as of such other date), the following representations and warranties concerning the Mortgage Loan to which the Loan Purchase Detail relates:
(a) Originator is the sole owner of the Mortgage Loan, subject to no lien, claim or encumbrance whatsoever except the lien, if any, of a Warehouse Lender reflected by a Warehouse Lender’s Release delivered with the Submission Package Documents, or Advance Submission Documents, as the case may be, for such Mortgage Loan; Originator has full right and authority, subject to no interest or participation of, or agreement with, any other party, to sell the same pursuant to this Agreement;
(b) except for the amount of the Mortgage Note related to any Jumbo Loan, the Mortgage Loan conforms in all respects to Agency Guidelines for the Agency specified in the related Takeout Commitment;
(c) any and all Requirements of Law, including, without limitation, truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws, and payment of any and all recording fees, charges and taxes, applicable to the Mortgage Loan have been complied with, and Originator shall deliver to Purchaser upon demand, evidence of compliance with all such requirements;
(d) the Document File is accurate and complete and contains all documents or instruments required by Agency Guidelines for the Agency specified in the related Takeout Commitment and as dictated by good practice in the industry; the Document File is either in Purchaser’s or Custodian’s possession, Originator’s possession and held in trust by Originator for benefit of Purchaser, or in the possession of the Designated Investor in accordance with customary practice;
(e) no servicing agreement has been entered into with respect to the Mortgage Loan, or any such servicing agreement has been terminated and there are no restrictions, imposed by any contractual agreement or Regulatory Authority, which would impair the ability of Purchaser to service the Mortgage Loan;
(f) the Mortgage is a valid and subsisting first lien on the Mortgaged Property, subject only to liens for Property Charges not yet due and payable;
(g) neither Originator nor any prior holder of the Mortgage has modified the Mortgage in any material respect; satisfied, canceled or subor...
Representations and Warranties Concerning Mortgage Loans. The information with respect to each Purchased Loan set forth in the related Loan Purchase Detail and Loan Sale Confirmation is true and correct as of the date specified in all material respects;
Representations and Warranties Concerning Mortgage Loans. [Loan Characteristics]
Representations and Warranties Concerning Mortgage Loans. By each delivery of a Loan Sale Confirmation, Seller shall be deemed to make, as of the effective date of the described sale of the Mortgage Loan or Loans (or, if another date is expressly provided in such representation or warranty, as of such other date), each of the representations and warranties set forth in Annex 2 concerning each Mortgage Loan then sold to MBF (as such representations and warranties may be modified by another Annex), and each representation and warranty concerning the Mortgage Loan set forth in another applicable Annex.
Representations and Warranties Concerning Mortgage Loans. By each delivery of a Loan Sale Confirmation, Seller shall be deemed to make, as of the effective date of the described sale of the Mortgage Loan or Loans (or, if another date is expressly provided in such representation or warranty, as of such other date), each of the representations and warranties set forth in Annex 2 concerning each Mortgage Loan then sold to MBF (as such representations and warranties may be modified by another Annex) and each representation and warranty concerning the Mortgage Loan set forth in another applicable Annex. All Seller representations and warranties concerning each Mortgage Loan shall survive delivery of the Dry Funding Documents Packages, the Wet Funding Documents Packages, and the Loan Sale Confirmations, purchase by MBF of Mortgage Loans, delivery of the Credit Files, transfer of the servicing for the Mortgage Loans to a Successor Servicer, the Takeout Fundings (if any), repurchases of the Mortgage Loans and Mortgage Securities by Seller (if any), and termination of this Agreement. With respect to any particular Mortgage Loan, Seller shall have the right to propose exceptions to the representations and warranties set forth in Annex 2 (or any other applicable Annex) and MBF may accept or reject such exceptions in its sole discretion and any exception made by MBF with respect to any particular Mortgage Loan shall not apply to any future Mortgage Loan unless such exception is specifically approved by MBF for such Mortgage Loan at the time of its purchase.
Representations and Warranties Concerning Mortgage Loans. Without limiting or modifying anything contained in Section 11 of the Agreement and in addition to each of the representations and warranties set forth in Annex 2 concerning each Mortgage Loan then sold to MBF (as such representations and warranties may be modified by another Annex) and each representation and warranty concerning the Mortgage Loan set forth in another applicable Annex, Seller also makes the following additional representation and warranty: The principal amount of the Mortgage Loan is not in excess of $1,500,000.00 on the Acquisition Date for such Mortgage Loan.
(d) Annex 3 (Mortgage Loans Subject to CL Commitments) of the Flex Agreement is hereby deleted in its entirety and replaced by Annex 3 attached hereto.
(e) The following introductions to the following paragraphs respectively set forth in Annexes 4 and 5 of the Flex Agreement are hereby amended and restated to read as follows:
Representations and Warranties Concerning Mortgage Loans. 12 3.13. Amendments to Servicing Agreement...........................................
Representations and Warranties Concerning Mortgage Loans. With respect to each Mortgage Loan:
(1) Whole Loan. Each Mortgage Loan is a whole loan and not a participation interest in a loan.
