RESPA Sample Clauses

RESPA. Buyer and Seller shall make all disclosures and do all things necessary to comply with the applicable provisions of the Real Estate Settlement Procedures Act of 1974, as amended.

RESPA. With respect to each Loan which is a residential mortgage loan, Seller has given the notice required by Section 6 of the Real Estate Settlement Procedures Act ("RESPA") of the transfer of the servicing of the Loans.

RESPA. Defendants’ claim for violations of RESPA are governed by a one-year statute of limitations pursuant to 12 U.S.C. § 2614. RESPA requires that any action be brought “within one year in the case of violations of section 2607 or 2608 from the date of the occurrence of the violation.” 12 U.S.C. § 2614. Hence, in order to have a valid RESPA claim, a party must bring a cause of action within one year of the alleged improper fee or kickback. See 12 U.S.C. § 2607. Here, Defendants are alleging a cause of action under § 2607 for improper fees and costs at the closing of their mortgage loan. Since the closing on the mortgage loan occurred on October 20, 2005, Defendants were required to bring a cause of action within one year of the date of the incident. Because Defendants did not file their claim until March 19, 2008, summary judgment is granted to Plaintiff and Third Party Defendants as to RESPA claims due to an untimely cause of action.

RESPA. (a) Sellers shall provide to Purchasers (i) a draft of the letter to each applicable Mortgagor (the “Goodbye Letter”), which letter shall comply with the requirements of RESPA and (ii) the 1122 and 1123 Servicer’s Assessments of Compliance provided pursuant to Regulation AB with respect to the PMSI’s servicing platform, with respect to the calendar year ending December 31, 2007, within two (2) Business Days after the date hereof. Upon receipt of such draft from Sellers, Purchasers shall review such draft and provide revisions thereto within two (2) Business Days of such receipt. On September 15, 2008, Sellers shall, in accordance with RESPA and Exhibit F-1 and at their cost and expense, deliver or cause to be delivered to each Mortgagor under each Purchased Loan that is not a Non-Interim Serviced Purchased Loan a Goodbye Letter. On October 15, 2008, Sellers shall, in accordance with RESPA and Exhibit F-1 and at their cost and expense, deliver or cause to be delivered to each Mortgagor under each Non-Interim Serviced Purchased Loans a Goodbye Letter. In accordance with RESPA, Purchasers, at their sole cost and expense, shall deliver or cause to be delivered to each applicable Obligor a letter (the “Welcome Letter”) which letter shall comply with the requirements of RESPA. (b) If this Agreement is terminated after the Servicing Transfer Date and prior to Closing, Servicing Assets Purchaser shall, upon request of Sellers, (i) deliver its own Goodbye Letters with respect to each Purchased Loan that is not a Non-Interim Serviced Purchased Loan, as promptly as reasonably practicable after such request and in accordance with RESPA, to each Mortgagor under such Purchased Loans who previously received a Goodbye Letter from Sellers pursuant to clause (a) in order to transfer servicing back to Sellers and (ii) cooperate with, and take all other actions reasonably requested by, Sellers in connection with transferring servicing of such Purchased Loans back to Sellers.

RESPA. It is the parties intent to ensure that the conduct of business for OPM complies with all requirements of the Real Estate Settlement Procedures Act (“RESPA”) and that OPM constitutes a bona fide provider of settlement services under RESPA. Any and all actions or changes necessary for compliance will be implemented. Attached hereto as Schedule B is the HUD “Policy Statement on Sham Controlled Business Arrangements.” The parties shall periodically review OPM operations to maintain compliance with the Policy Statement.

RESPA. (a) No Seller or any Affiliate of any Seller (including, but not limited to the First Florida Title Services II, LLC (the “First Florida Title Company”) and Liberty Mortgage of South Florida, LLC) has violated any provision of RESPA, including (without limitation) (i) Section 8(a), which prohibits kickbacks and referral fees among settlement service providers, (ii) Section 8(b), which prohibits the charging of unearned fees for settlement services, and (iii) Section 9, which prohibits requiring the use of a particular title company. (b) No Seller or any Affiliate of any Seller has a “controlled business arrangement” or an “affiliated business arrangement” with any title company, lender, broker or other entity which has not been properly disclosed to purchasers and prospective purchasers pursuant to a “Controlled Business Arrangement Disclosure Statement” or an “Affiliated Business Arrangement Disclosure Statement.” Attached hereto as Schedule 5.30(B) are specimen copies of the forms of all “Controlled Business Arrangement Disclosure Statements” and “Affiliated Business Arrangement Disclosure Statements” so disclosed. (c) No Seller or any Affiliate of any Seller has charged or accepted “markups” (i.e., closing or settlement fees or charges to purchasers which exceed the actual cost to seller for such settlement charges or fees) in connection with their sale of single family residences. (d) No Seller or any Affiliate of any Seller is under investigation by, or has received any request for information from or on behalf of the Department of Housing and Urban Development (“HUD”) or other law enforcement authority with respect to such entity’s compliance or possible violation under RESPA. (e) Attached hereto as Schedule 5.30(E) are specimen copies of the forms of all purchase and sale agreements and related addenda and riders utilized by Sellers in connection with sales of single family residences.

RESPA. The Parties agree that the rendering of services by Sales Representative as Representative with respect to the SharperLending's Services pursuant to this Agreement (i) represent fair and reasonable compensation for the value thereof and (ii) the manner and timing of payment of such compensation has been selected by the Parties as a matter of convenience only. Each Party has come to its own conclusion regarding whether the compensation arrangements and other terms and conditions of this Agreement comply with the Real Estate Settlement Procedures Act of 1974, as amended, and other applicable law or regulations (collectively "RESPA"). In reaching their independent conclusions, neither Party is relying on any opinion, representation or information obtained directly or indirectly from the other Party. In the event that it is determined, or based upon subsequent information or events either Party reasonably concludes, that the compensation arrangements violate or conflict with RESPA, the Parties agree to modify this Agreement to provide for an alternate compensation structure which complies with RESPA and provides the Party receiving compensation with compensation that is equivalent economically to the compensation provided for herein, or in the alternative, either Party, at its option, may terminate this Agreement. Each Party agrees that it will not assert any claim against the other Party to the effect that the relationship established hereunder, including without limitation, the compensation arrangements, violates RESPA or otherwise imposes any obligation on the Parties that would not arise under an arm's-length commercial agreement.

RESPA. Both parties hereto agree to furnish all information and documents, if any, required in order to comply with the Real Estate Settlement Procedure Act of 1974 and with Regulation X, if applicable, and any amendments thereto.

RESPA. Seller agrees to disclose upon request all information necessary for compliance with the "Real Estate Settlement Procedures Act of 1974."

RESPA. Sellers shall provide Purchaser with a copy of Sellers’ RESPA notice to Mortgagors regarding the transfer of servicing of the Mortgage Loans to Purchaser, to the extent such notice is required by law, by the earlier to occur of (a) the date that is two (2) Business Days prior to the mailing of such notice by Sellers or (b) the date that is seven (7) days prior to the Closing Date,. Sellers shall provide to Purchaser a copy of their Affiliated Business Arrangements (ABA) Disclosure as provided to the borrower in accordance with RESPA seven (7) days prior to the Closing Date. If the ABA discloses a title company or title insurance company, Sellers shall also supply a closing protection letter from the title insurer and a copy of the title company’s errors and omission policy within the same seven (7) day period.