Common use of Uniform Provisions Clause in Contracts

Uniform Provisions. 1. Lender represents and warrants that Mortgages delivered pursuant to a Variance, Special Requirement or nonstandard MBS Contract term contained in this Master Agreement comply with all provisions of the applicable Variance, Special Requirement or nonstandard MBS Contract term. 2. Lender must enter all SFC(s) required by the Selling Guide, in addition to any additional SFC(s) specified in this Master Agreement. 3. In addition to any additional LLPA(s) specified in this Master Agreement, Lender must pay all LLPA(s) required by the Selling Guide, unless otherwise specified. 4. Mortgages may be sold to Xxxxxx Mae as cash deliveries or as MBS pool deliveries, unless otherwise specified. 5. For a Mortgage to be included in an MBS pool, the origination date LTV may not exceed 100%, unless otherwise specified. 6. Mortgages originated pursuant to a Variance must be first lien, conventional Mortgages, unless otherwise specified. 7. Lender agrees not to use Xxxxxx Mae’s name in any advertising distribution, publication or communication to any third party of any Variance or other provision of this Master Agreement. 8. If a provision of this Master Agreement permits a type of loan that has additional requirements per the Selling Guide (e.g., lender approval for cooperative share loans), then those Selling Guide requirements still apply unless otherwise stated. 9. Variance Mortgages may not be originated in combination with any other Variances contained in this Master Agreement without Xxxxxx Mae’s prior written approval, unless specifically permitted in a particular Variance. 10. Unless otherwise specified, any Variance, Special Requirement or nonstandard MBS Contract may be amended or terminated with reasonable notice to Lender, which in many cases will be at least 90 days, in accordance with the provisions of the Selling Guide. Additionally, Xxxxxx Xxx reserves the right to rescind or modify any of the terms of any Variance, Special Requirement or nonstandard MBS Contract in connection with the renewal or extension of this Master Agreement or upon reasonable notice to Lender, unless otherwise specified. 11. If Mortgages with IO features are eligible for origination under the terms of a Variance, then such IO Mortgages are subject to the IO eligibility requirements per the Selling Guide, if more restrictive than the Variance, unless the Variance specifically provides that the Variance eligibility requirements supersede the Selling Guide requirements for IO Mortgages. 12. Trademarks are the property of their respective owners. Xxxxxx Mae trademarks are identified at: xxx.xxxxxxxxx.xxx/xxxxx/xxxxxxxxxx.xxxxx?p=Legal&t=Trademarks

Uniform Provisions. 1. Lender represents and warrants that Mortgages delivered pursuant to a Variance, Special Requirement or nonstandard MBS Contract term contained in this Master Agreement comply with all provisions of the applicable Variance, Special Requirement or nonstandard MBS Contract term. 2. Lender must enter all SFC(s) required by the Selling Guide, in addition to any additional SFC(s) specified in this Master Agreement. 3. In addition to any additional LLPA(s) specified in this Master Agreement, Lender must pay all LLPA(s) required by the Selling Guide, unless otherwise specified. 4. Mortgages may be sold to Xxxxxx Mae as cash deliveries whole loans or as MBS pool deliveries, unless otherwise specified. 5. For a Mortgage to be included in an MBS pool, the origination date LTV may not exceed 100%, unless otherwise specified. 6. Mortgages originated pursuant to a Variance must be first lien, conventional Mortgages, unless otherwise specified. 7. Lender agrees not to use Xxxxxx Mae’s 's name in any advertising distribution, publication or communication to any third party of that is not otherwise permitted pursuant to the confidentiality provisions applicable to this Master Agreement, or any Variance or other provision of this Master Agreement. 8. If a provision of this Master Agreement permits a type of loan that has additional requirements per the Selling Guide (e.g., lender approval for cooperative co-op share loans), then those Selling Guide requirements still apply unless otherwise stated. 9. Variance Mortgages may not be originated in combination with any other Variances contained in this Master Agreement without Xxxxxx Mae’s 's prior written approval, unless specifically permitted in a particular Variance. 10. Unless otherwise specified, any Variance, Special Requirement or nonstandard MBS Contract may be amended or terminated with reasonable notice to Lender, which in many cases will be at least 90 days, in accordance with the provisions of the Selling Guide. Additionally, Xxxxxx Xxx reserves the right to rescind or modify any of the terms of any Variance, Special Requirement or nonstandard MBS Contract in connection with the renewal or extension of this Master Agreement or upon reasonable notice to Lender, unless otherwise specified. 11. If Mortgages with IO features are eligible for origination under the terms of a Variance, then such IO Mortgages are subject to the IO eligibility requirements per the Selling Guide, if more restrictive than the Variance, unless the Variance specifically provides that the Variance eligibility requirements supersede the Selling Guide requirements for IO Mortgages. 12. Trademarks are the property of their respective owners. Xxxxxx Mae trademarks are identified at: xxx.xxxxxxxxx.xxx/xxxxx/xxxxxxxxxx.xxxxx?p=Legal&t=Trademarksxxxx://xxx.xxxxxxxxx.xxx/portal/trademarks.html. 12. Notwithstanding any provisions of this Master Agreement or any MBS Contract hereunder to the contrary, Xxxxxx Xxx may limit delivery volume or change the base guaranty fee, LLPAs, and/or guaranty fee adjustments for MBS Express® or rapid payment method remittance cycles ("pricing") applicable to Mortgages delivered under this Master Agreement in accordance with the provisions of the Selling Guide. If there is no delivery volume associated with this Master Agreement (shown as $1.00 or less on Exhibit 1 of this Master Agreement), then Lender may only deliver Mortgages, including Mortgages originated pursuant to the Variances and Special Requirements contained herein, under a separate master agreement which specifically authorizes delivery of, and provides pricing terms applicable to, Mortgages originated pursuant to this Master Agreement. 13. Please note Section I, C and V, A.3 of your Mortgage Selling and Servicing Contract, the prefaces and forewords to the Selling Guide and the Servicing Guide, Part A2-1-01 of the Selling Guide and Part 1-201 of the Servicing Guide, each of which make clear that mortgage loans must be sold in accordance with the applicable mortgage loan purchase requirements of the Selling Guide in effect at the time of delivery ("Loan Purchase Requirements") and serviced in accordance with the Servicing Guide, each as they have been or may be amended, modified or supplemented by Xxxxxx Mae, and as may be further amended by this Master Agreement. The Selling Guide and Servicing Guide are amended periodically through Announcements, Lender Letters, DO/DU Release Notes, Notices, and information posted on xxxxxxxxx.xxx that is incorporated by reference into the Guides. See the Guides for additional information on Xxxxxx Mae's communications of its Single-Family selling and servicing policies. An amendment to the Selling Guide or Servicing Guide that affects any provision of this Master Agreement or any mortgage loans previously delivered to Xxxxxx Mae (except with respect to Loan Purchase Requirements) is effective as of the date specified by Xxxxxx Xxx in the related Announcement, Lender Letter, Notice or other communication, unless Xxxxxx Mae specifically agrees otherwise in a duly authorized written communication.