Common use of Representations and Warranties Regarding the Loans Clause in Contracts

Representations and Warranties Regarding the Loans. 13.1 Broker shall, both in the conduct of Broker’s business generally, and in Broker’s handling of each Loan Application Package and the preparation of related documents and materials in particular, comply fully, completely and in a timely manner with every requirement of all applicable federal, local and state laws, rules, ordinances and regulations, including amendments to same, dealing with the origination of residential mortgage loans, including, without limitation, the following: (a) the Equal Credit Opportunity Act; (b) the Truth in Lending Act; (c) the Real Estate Settlement Procedures Act; (d) the Fair Credit Reporting Act; (e) Fair Lending Laws, (f) any applicable state acts, codes, rules and/or regulations; (g) to the extent applicable, all rules, requirements and regulations of the CFPB, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Housing Authority, the Government National Mortgage Association, the Department of Housing and Urban Development, the Veterans' Administration, and any other applicable state agencies and/or administrative authorities; and (h) the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all regulations issued thereunder, including without limitation, the Consumer Financial Protection Bureau’s Ability-to-Repay, Qualified Mortgage and Originator Compensation regulations. Broker shall not name AH in any disclosure statement or other document or instrument except as required by law as the lender or creditor, or otherwise. 13.2 Each Loan Application Package submitted to AH will be complete and prepared in accordance with AH’s current terms, conditions, policies and procedures, and Broker shall assume all responsibility for remedying any deviation, deficiency or defect prior to the funding of any Loan by AH. 13.3 Broker acknowledges that all Loans closed under this Agreement become the property of AH and that Broker has been compensated for Broker’s involvement therein and relinquishes all claims and rights to such Loans. Broker further agrees not to solicit for refinance any Loans closed by AH under this Agreement for a period of six (6) months from the date of closing. 13.4 No known statement, representation or document made or submitted to AH in connection with this Agreement or any Loan Application Package is untrue, inaccurate or misleading in any respect whatsoever, or omits any material fact necessary to make any statement or information included therein true, accurate and understandable, and Broker will immediately report to AH any known or believed to be false, inaccurate, altered or forged statement, representation or document which may come to Broker’s attention. The statements and representations in this Agreement and all Loan Application Packages submitted to AH are made on an on-going basis and shall be true, complete and accurate throughout the term of this Agreement. 13.5 Except as otherwise disclosed to AH in writing before the submission of any Loan Application Package, Broker shall have no direct or indirect ownership interest inany property acting as security for the Loan. 13.6 All documents submitted by Broker in connection with Loans and Loan Application Packages submitted to AH are in every respect valid and genuine, being what on their face they purport to be, and all information (credit or otherwise) submitted in connection with such Loans and Loan Application Packages is true andaccurate. 13.7 Broker has no knowledge of any circumstances or conditions with respect to any Loan, Mortgaged Property, mortgage or borrower’s credit standing that can be reasonably expected to cause any governmental, quasi-governmental or private institutional investors to regard any Loan as an unacceptable investment, cause any Loan to become delinquent, or adversely affect the value or marketability of any Loan. 13.8 Broker hereby agrees to comply with all applicable federal, local and state disclosure requirements, including but not limited to, RESPA and Truth in Lending initial and subsequent disclosure requirements. 13.9 Broker shall provide all documentation requested by AH, which AH may need to establish a funded Loan’s compliance with all federal, local and state laws, rules, ordinances and regulations including but not limited to, the CFPB’s Truth in Lending regulations and Ability-to-Repay/Qualified Mortgage Rule.

Representations and Warranties Regarding the Loans. 13.1 Broker shall, both in the conduct of BrokerXxxxxx’s business generally, and in Broker’s handling of each Loan Application Package and the preparation of related documents and materials in particular, comply fully, completely and in a timely manner with every requirement of all applicable federal, local and state laws, rules, ordinances and regulations, including amendments to same, dealing with the origination of residential mortgage loans, including, without limitation, the following: (a) the Equal Credit Opportunity Act; (b) the Truth in Lending Act; (c) the Real Estate Settlement Procedures Act; (d) the Fair Credit Reporting Act; (e) Fair Lending Laws, (f) any applicable state acts, codes, rules and/or regulations; (g) to the extent applicable, all rules, requirements and regulations of the CFPB, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Housing Authority, the Government National Mortgage Association, the Department of Housing and Urban Development, the Veterans' Administration, and any other applicable state agencies and/or administrative authorities; and (h) the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all regulations issued thereunder, including without limitation, the Consumer Financial Protection Bureau’s Ability-to-Repay, Qualified Mortgage and Originator Compensation regulations. Broker shall not name AH in any disclosure statement or other document or instrument except as required by law as the lender or creditor, or otherwise. 13.2 Each Loan Application Package submitted to AH will be complete and prepared in accordance with AH’s current terms, conditions, policies and procedures, and Broker shall assume all responsibility for remedying any deviation, deficiency or defect prior to the funding of any Loan by AH. 13.3 Broker acknowledges that all Loans closed under this Agreement become the property of AH and that Broker Xxxxxx has been compensated for BrokerXxxxxx’s involvement therein and relinquishes all claims and rights to such Loans. Broker Xxxxxx further agrees not to solicit for refinance any Loans closed by AH under this Agreement for a period of six (6) months from the date of closing. 13.4 No known statement, representation or document made or submitted to AH in connection with this Agreement or any Loan Application Package is untrue, inaccurate or misleading in any respect whatsoever, or omits any material fact necessary to make any statement or information included therein true, accurate and understandable, and Broker Xxxxxx will immediately report to AH any known or believed to be false, inaccurate, altered or forged statement, representation or document which may come to Broker’s attention. The statements and representations in this Agreement and all Loan Application Packages submitted to AH are made on an on-going basis and shall be true, complete and accurate throughout the term of this Agreement. 13.5 Except as otherwise disclosed to AH in writing before the submission of any Loan Application Package, Broker shall have no direct or indirect ownership interest inany property acting as security for the Loan. 13.6 All documents submitted by Broker in connection with Loans and Loan Application Packages submitted to AH are in every respect valid and genuine, being what on their face they purport to be, and all information (credit or otherwise) submitted in connection with such Loans and Loan Application Packages is true andaccurate. 13.7 Broker has no knowledge of any circumstances or conditions with respect to any Loan, Mortgaged Property, mortgage or borrower’s credit standing that can be reasonably expected to cause any governmental, quasi-governmental or private institutional investors to regard any Loan as an unacceptable investment, cause any Loan to become delinquent, or adversely affect the value or marketability of any Loan. 13.8 Broker hereby agrees to comply with all applicable federal, local and state disclosure requirements, including but not limited to, RESPA and Truth in Lending initial and subsequent disclosure requirements. 13.9 Broker shall provide all documentation requested by AH, which AH may need to establish a funded Loan’s compliance with all federal, local and state laws, rules, ordinances and regulations including but not limited to, the CFPB’s Truth in Lending regulations and Ability-to-Repay/Qualified Mortgage Rule.

Representations and Warranties Regarding the Loans. 13.1 Broker shall, both in the conduct of Broker’s business generally, and in Broker’s handling of each Loan Application Package and the preparation of related documents and materials in particular, comply fully, completely and in a timely manner with every requirement of all applicable federal, local and state laws, rules, ordinances and regulations, including amendments to same, dealing with the origination of residential mortgage loans, including, without limitation, the following: (a) the Equal Credit Opportunity Act; (b) the Truth in Lending Act; (c) the Real Estate Settlement Procedures Act; (d) the Fair Credit Reporting Act; (e) Fair Lending Laws, (f) any applicable state acts, codes, rules and/or regulations; (g) to the extent applicable, all rules, requirements and regulations of the CFPB, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Housing Authority, the Government National Mortgage Association, the Department of Housing and Urban Development, the Veterans' Administration, and any other applicable state agencies and/or administrative authorities; and (h) the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all regulations issued thereunder, including without limitation, the Consumer Financial Protection Bureau’s Ability-to-Repay, Qualified Mortgage and Originator Compensation regulations. Broker shall not name AH in any disclosure statement or other document or instrument except as required by law as the lender or creditor, or otherwise. 13.2 Each Loan Application Package submitted to AH will be complete and prepared in accordance with AH’s current terms, conditions, policies and procedures, and Broker shall assume all responsibility for remedying any deviation, deficiency or defect prior to the funding of any Loan by AH. 13.3 Broker acknowledges that all Loans closed under this Agreement become the property of AH and that Broker has been compensated for Broker’s involvement therein and relinquishes all claims and rights to such Loans. Broker further agrees not to solicit for refinance any Loans closed by AH under this Agreement for a period of six (6) months from the date of closing. 13.4 No known or unknown statement, representation or document made or submitted to AH in connection with this Agreement or any Loan Application Package is untrue, inaccurate or misleading in any respect whatsoever, or omits any material fact necessary to make any statement or information included therein true, accurate and understandable, and Broker will immediately report to AH any known or believed to be false, inaccurate, altered or forged statement, representation or document which may come to Broker’s attention. The statements and representations in this Agreement and all Loan Application Packages submitted to AH are made on an on-going basis and shall be true, complete and accurate throughout the term of this Agreement. 13.5 Except as otherwise disclosed to AH in writing before the submission of any Loan Application Package, Broker shall have no direct or indirect ownership interest inany in any property acting as security for the Loan. 13.6 All documents submitted by Broker in connection with Loans and Loan Application Packages submitted to AH are in every respect valid and genuine, being what on their face they purport to be, and all information (credit or otherwise) submitted in connection with such Loans and Loan Application Packages is true andaccurateand accurate. 13.7 Broker has no knowledge of any circumstances or conditions with respect to any Loan, Mortgaged Property, mortgage or borrower’s credit standing that can be reasonably expected to cause any governmental, quasi-governmental or private institutional investors to regard any Loan as an unacceptable investment, cause any Loan to become delinquent, or adversely affect the value or marketability of any Loan. 13.8 Broker hereby agrees to comply with all applicable federal, local and state disclosure requirements, including but not limited to, RESPA and Truth in Lending initial and subsequent disclosure requirements. 13.9 Broker shall provide all documentation requested by AH, which AH may need to establish a funded Loan’s compliance with all federal, local and state laws, rules, ordinances and regulations including but not limited to, the CFPB’s Truth in Lending regulations and Ability-to-Repay/Qualified Mortgage Rule.