Common use of Second Lien Mortgages Clause in Contracts

Second Lien Mortgages. The related first Lien on the Mortgage Loan does not require a consent from the holder of the first Lien, or if such a consent is required, it has been obtained and is contained in the Mortgage File. The Borrowers have not received notice of a default of the related first Lien which has not been cured.

Appears in 3 contracts

Samples: Master Loan and Security Agreement (New Century Financial Corp), Loan Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp)

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Second Lien Mortgages. The related first Lien on the Mortgage Loan does not require a consent from the holder of the first Lien, or if such a consent is required, it has been obtained and is contained in the Mortgage File. The Borrowers have Borrower has not received notice of a default of the related first Lien which has not been cured.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

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Second Lien Mortgages. The related first Lien on the --------------------- Mortgage Loan does not require a consent from the holder of the first Lien, or if such a consent is required, it has been obtained and is contained in the Mortgage File. The Borrowers have Borrower has not received notice of a default of the related first Lien which has not been cured.

Appears in 1 contract

Samples: Master Loan and Security Agreement (New Century Financial Corp)

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