Common use of Underwriting Methodology Clause in Contracts

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs employs, in part, objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs employs, in part, objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs employs, in part, objective mathematical principles which relate the related Mortgagor's ’s income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's ’s equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely solely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extensionextension of credit. Such underwriting The methodology confirmed employed objective criteria, such as the Mortgagor's income, assets and liabilities, to the proposed mortgage payment and, based on such methodology, the Mortgage Loan's originator made a reasonable determination that at the time of origination (application/approval) the related Mortgagor had a reasonable the ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs employs, in part, objective mathematical principles which relate the related Mortgagor's ’s income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's ’s equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's ’s income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's ’s equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely solely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extensionextension of credit. Such underwriting The methodology confirmed employed objective criteria, such as the Mortgagor's income, assets and liabilities, to the proposed mortgage payment and, based on such methodology, the Mortgage Loan's originator made a reasonable determination that at the time of origination (application/approval) the related Mortgagor had a reasonable the ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation; (h) deleting the existing subsections (ddd) in its entirety and replacing it with the following language:

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's ’s income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's ’s equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Representation;

Underwriting Methodology. The methodology used in underwriting the extension of credit for each Mortgage Loan employs employs, in part, objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan. This representation and warranty is a Deemed Material and Adverse Breach Representation;