Common Contracts

Correspondent Loan Purchase Agreement

Correspondent Loan Purchase Agreement • January 6th, 2020

• Contract Type
  Correspondent Loan Purchase Agreement
• Filed
  January 6th, 2020

Whereas, Buyer and Seller have agreed to enter into an arrangement under which, Seller will, depending upon the terms of the Mortgage Loan, the type of Mortgage Loan, the loan program under which the Mortgage Loan is originated, the jurisdiction in which the Mortgage Loan is originated, and the statutes, regulations and licensing requirements applicable to each particular Mortgage Loan, and other circumstances: sell Mortgage Loans to Buyer in the secondary market; assign Mortgage Loans to Buyer at closing; and/or act as a mortgage broker which solicits prospective borrowers for Eligible Mortgage Loans (defined below). Such Mortgage Loans may, depending on these factors close in Buyer’s name or in Seller’s name. All references to “Seller”, the “sale”, “selling” or “purchase” of Mortgage Loans, or Mortgage Loans “sold” to Buyer, in this Loan Purchase Agreement, any addenda hereto, and in the Buyer’s/ Seller’s Guide, shall refer and be applicable to any and all of the business arrangement