Review of Loan Files. The Custodian, on behalf of the Trustee, for the benefit of the Noteholders shall review the Loan Files as provided in Section 2.11 of the Sale and Servicing Agreement.
Review of Loan Files. Purchaser reserves the right to conduct a 100% review of the Mortgage Loan Files to be purchased, with the results of such due diligence review to be communicated to the Seller prior to the Closing Date. In addition, the Purchaser is entitled to obtain BPO's on the Mortgaged Properties. The Purchaser, in its sole discretion, reserves the right to reject any Mortgage Loan from this Purchase Transaction which does not conform to either the Seller's underwriting guidelines or prudent secondary market underwriting standards for similar mortgage loans, or on which the property valuation obtained by the Purchaser has a value decline of greater than 15% from the lesser of the original appraised value of the Mortgaged Property or the purchase price of the Mortgaged Property at the time of the origination of the related Mortgage Loan. The Purchaser reserves the right to conduct such due diligence reviews and property valuations and require a Seller repurchase of any Mortgage Loans with either due diligence or property value issues for a period of up to 30 days after the Closing Date. Any review performed by the Purchaser prior to or after the Closing Date does not limit Purchaser's rights or Seller's obligations under the Agreement. The Seller shall make available all credit files in order for the Purchaser to complete a full data verification review, which includes but is not limited to capturing all CRA/HMDA required data fields.
Review of Loan Files. Prior to the Closing Date, the Purchaser may, at its sole expense, conduct a 100% due diligence and compliance review of the Mortgage Loan legal and credit files. In addition, the Purchaser is entitled, at its own expense, to obtain BPO’s or other property valuations on the Mortgaged Properties. The Purchaser reserves the right to reject any Mortgage Loan from this Purchase Transaction which does not conform to the applicable underwriting guidelines set forth in the Underlying Agreements in place at the time of origination. Purchaser shall notify the Seller of any such rejected Mortgage Loan no later than 4 business days prior to the Closing Date. Any review performed by the Purchaser prior to the Closing Date does not limit Purchaser’s rights or Seller’s obligations under this Purchaser Price and Terms Letter or the Assignment and Assumption Agreements, thereafter. The Seller shall, on request by the Purchaser, authorize the Servicer to make available all credit files in order for the Purchaser to complete a full data verification review, which includes capturing all CRA/HMDA required data fields. The Seller shall, on request by the Purchaser, authorize the Servicer to ship overnight the credit files to the Purchaser or its designee for review. The review may be done either prior to or subsequent to the Closing Date.
Review of Loan Files. Seller will permit representatives of Purchaser to have full access at all reasonable times, and in a manner so as not to interfere with the normal business operations of Seller to all Loan Files.
Review of Loan Files. The Purchaser may conduct a 100% due diligence review of the Mortgage Loan legal and credit files for the purpose of ensuring conformity with the underwriting guidelines, the terms of this Commitment Letter, the MLPA and the Agreement. In addition, the Purchaser is entitled to obtain BPO’s or other property evaluations on the Mortgaged Properties. The Purchaser reserves the right to reject any Mortgage Loan from the Purchase Transaction which does not conform to the Seller’s underwriting guidelines, this letter, the Agreement or the MLPA. Any review performed by the Purchaser prior to the Closing Date does not limit the Purchaser’s rights or Seller’s obligations under the Agreement, thereafter. The Purchaser may conduct additional due diligence reviews of the credit files after the Closing Date.
