Representations and Warranties with respect to Mortgage Loans. The Seller hereby represents and warrants as follows with respect to each Mortgage Loan conveyed to Buyer under this Agreement (such representations and warranties to speak as of the related Purchase Date, unless otherwise expressly provided herein):
Representations and Warranties with respect to Mortgage Loans. The Mortgage Originator represents and warrants to the Participant as to each Mortgage Loan as of the date of addition of such Mortgage Loan to a Mortgage Pool that:
Representations and Warranties with respect to Mortgage Loans. 1. Each Mortgage Loan with a written appraisal, as indicated on the Purchased Loan Schedule, contains a written appraisal prepared by an appraiser licensed or certified by the applicable governmental body in which the Mortgaged Property is located and in accordance with the requirements of FIRREA. The appraisal and any or all supporting schedules required per the applicable guidelines were written in form and substance to customary Xxxxxx Xxx or Xxxxxxx Mac standards for Mortgage Loans of the same type as the Mortgage Loans and the Uniform Standards of Professional Appraisal Practice and satisfies applicable legal and regulatory requirements. The appraisal was made and signed prior to the final approval of the Mortgage Loan application. The person performing any property valuation (including an appraiser) received no benefit from, and such person’s compensation or flow of business from the Originator was not affected by, the approval or disapproval of the Mortgage Loan. The selection of the person performing the property valuation was made independently of the broker (where applicable) and the originator’s loan sales and loan production personnel. The selection of the appraiser met the criteria of Xxxxxx Mae and Xxxxxxx Mac for selecting an independent appraiser.
Representations and Warranties with respect to Mortgage Loans. Each Seller makes the following representations and warranties to Buyer, with respect to the Mortgage Loans, as of the initial Purchase Date for such Mortgage Loans and as of any date on which any Transaction hereunder relating to the Mortgage Loans is outstanding subject to any exceptions agreed to by Buyer.
Representations and Warranties with respect to Mortgage Loans. The Mortgage ------------------------------------------------------------- Originator represents and warrants to the Participant as to each Mortgage Loan as of the date of the purchase of the related Participation that:
Representations and Warranties with respect to Mortgage Loans. In connection with the Mortgage Loans transferred and assigned hereunder, the Trustee, consistent with its obligations hereunder, and applicable law, and subject to the provisions of the Sale and Servicing Agreement, and Xxxxxx Mae may require the repurchase of any Mortgage Loan or REO Loan as to which there shall have occurred a breach of any representation or warranty made by any Seller under the Sale and Servicing Agreement, which breach materially and adversely affects the value of such Mortgage Loan or REO Loan. With respect to repurchases under the immediately preceding sentence, the Trustee agrees to release any Mortgage Loan, REO Loan, Defaulted Mortgage Loan or REO Property from the Trust upon payment of a price not less than the Purchase Price therefor in the event that the Trustee receives notice that such Mortgage Loan, REO Loan, Defaulted Mortgage Loan or REO Property is to be repurchased by Xxxxxx Xxx as provided in the preceding sentence or by any other Person as provided in the Sale and Servicing Agreement.
Representations and Warranties with respect to Mortgage Loans. In order to induce Purchaser to purchase the Mortgage Loans, Seller represents and warrants to Purchaser as of the applicable Purchase Date as to each Mortgage Loan sold to Purchaser pursuant to this Agreement as follows.
Representations and Warranties with respect to Mortgage Loans. In connection with the Mortgage Loans transferred and assigned hereunder, the Trustee, consistent with its obligations hereunder and applicable law, and subject to the provisions of the Sale and Servicing Agreement, Xxxxxx Mae may require the purchase from the Lower Tier REMIC of any Mortgage Loan or REO Loan as to which there shall have occurred a breach of any representation or warranty made by Citibank, N.A. assigned to Xxxxxx Xxx pursuant to the Sale and Servicing Agreement, which breach materially and adversely affects the value of such Mortgage Loan or REO Loan. With respect to purchases under the immediately preceding sentence, the Trustee agrees to release any Mortgage Loan, REO Loan or REO Property from the Lower Tier REMIC upon payment of a price not less than the Purchase Price therefor.
