Common use of The Mortgagor Clause in Contracts

The Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with Xxxxxx Xxx or Freddie Mac Guide and the related Underwriting Guidelines applicable at the time of origination of the related Mortgage Loan. In the event the Mortgagor is a trustee of a “living trust,” such trustee is a natural person and is an obligor under the Mortgage Note in his or her individual capacity. As of the time of origination, the Mortgagor was legally entitled to reside in the United States. Evidence of residency status for a the Mortgagor has been validated in accordance with the Underwriting Guidelines. The Mortgagor was not the subject of a bankruptcy proceeding that was dismissed or discharged in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the Mortgage Loan. The Mortgagor has not previously owned a property with respect to which a foreclosure sale was completed or with respect to which title was conveyed to the originator or a deed in lieu of foreclosure was given, in each case for which the Mortgagor was the borrower or owner of record, in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the related Mortgage Loan.

The Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with Xxxxxx Xxx Fxxxxx Mxx or Freddie Fxxxxxx Mac Guide and the related Underwriting Guidelines guidelines applicable at the time of origination of the related Mortgage Loan. In the event the Mortgagor is a trustee of a “living trust,” such trustee is a natural person and is an obligor under the Mortgage Note in his or her individual capacity. As of the time of origination, the Mortgagor was and is either a United States citizen or a permanent resident alien who has the right legally entitled to reside live and work permanently in the United States. Evidence of residency status for a the Mortgagor permanent resident alien has been validated in accordance with the Underwriting Guidelinesby documentation acceptable to Fxxxxx Mae and Fxxxxxx Mac. The Mortgagor was not the subject of a bankruptcy proceeding that was dismissed or discharged in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the Mortgage Loan. The Mortgagor has not previously owned a property with respect to which a foreclosure sale was completed or with respect to which title was conveyed to the originator Originator or a deed in lieu of foreclosure was given, in each case for which the Mortgagor was the borrower or owner of record, in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the related Mortgage Loan.;

The Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with Xxxxxx Xxx or Freddie Xxxxxxx Mac Guide and the related Underwriting Guidelines applicable at the time of origination of the related Mortgage Loan. In the event the Mortgagor is a trustee of a “living trust,” such trustee is a natural person and is an obligor under the Mortgage Note in his or her individual capacity. As of the time of origination, the Mortgagor was legally entitled to reside in the United States. Evidence of residency status for a the Mortgagor has been validated in accordance with the Underwriting Guidelines. The Mortgagor was not the subject of a bankruptcy proceeding that was dismissed or discharged in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the Mortgage Loan. The Mortgagor has not previously owned a property with respect to which a foreclosure sale was completed or with respect to which title was conveyed to the originator or a deed in lieu of foreclosure was given, in each case for which the Mortgagor was the borrower or owner of record, in the seven (7) years (or such other time period required pursuant to the Underwriting Guidelines) prior to the origination of the related Mortgage Loan.