Correspondent Lender definition

Correspondent Lender. A mortgage banking related entity which originates Mortgage Loans in its own name, using its own funds, which Mortgage Loans are purchased by MLCC under its Correspondent Lending Program.

Correspondent Lender means a lender which does not meet all of the qualification requirements for designation as, or has not made an Application as a Participating Lender pursuant to the terms of the Mortgage Purchase Agreement, but wishes to originate loans under the Program under an agreement executed by a Participating Lender, wherein such Correspondent Lender is approved by the Participating Lender to originate and sell, transfer, or assign to the Participating Lender, Mortgage Loans under the Indenture.

Correspondent Lender means a Person in the business of originating, making and selling first lien residential mortgage loans secured by a mortgage on one-to-four family dwellings.

Examples of Correspondent Lender in a sentence

The Sponsoring Participating Lender will be required to meet and provide evidence of a minimum tangible net worth of$1,000,000 in order to sponsor a Correspondent Lender.
A Participating Lender may sponsor a "Correspondent Lender" with the prior written approval of the Authority.
Under the Correspondent Lending Program, Seller may, from time to time, agree to pay a Correspondent Lender a Correspondent Trailing Premium ("CTP") 0.125% to 0.75% of the annualized principal balance of the applicable Mortgage Loan, less an administrative fee.
Seller is obligated to pay such fee to the Correspondent Lender as long as the applicable Mortgage Loan remains outstanding and the Mortgagor's Monthly Payment are current.
The Protective Advances shall be secured by the Liens in favor of the Agent or the Singapore Lender, in and to the Collateral and shall constitute Obligations hereunder; provided that if a Protective Advance relates to Collateral of a Singapore Borrower, such Protective Advance shall constitute a Singapore Obligation, and shall be secured by Liens in favor of the Singapore Correspondent Lender.

More Definitions of Correspondent Lender

Correspondent Lender means a Person in the business of originating, making and selling first lien residential mortgage loans secured by a mortgage on one-to-four family dwellings. “Correspondent Lending Guide” means the “Xxxxxxx Xxxxx Credit Corporation Seller Guide”, a copy of which has been provided to Cendant, which sets forth the terms and conditions applicable to the sale of Cendant Loans pursuant to either the Correspondent Lending Program or the Mortgage Broker Program, and which is amended from time to time by MLCC. “Correspondent Lending Program” means MLCC’s program of purchasing Cendant Loans from Correspondent Lenders pursuant to the terms and conditions of the Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. Such program also includes the underwriting of certain Cendant Loans referred by a Correspondent Lender to MLCC, which Cendant Loans are underwritten and delivered to MLCC in accordance with the Correspondent Lending Guide, the applicable Commitment and the applicable Master Purchase Agreement. “Delegated Loans” mean those Cendant Loans originated and closed pursuant to and in accordance with the “Delegated Underwriting Program” (as such term is defined in the Correspondent Lending Guide). “Master Purchase Agreement” means a “Master Loan Purchase and Sale Agreement” entered into by MLCC and a Correspondent Lender, which agreement sets forth the terms and conditions pursuant to which a Correspondent Lender agrees to sell, and MLCC agrees to buy, Cendant Loans having such characteristics and in such aggregate principal amounts as are agreed to between MLCC and the applicable Correspondent Lender in accordance with the eligibility guidelines in the Correspondent Lending Guide and the applicable “Commitment”. “Mortgage Broker” means a Person engaged in the business of brokering mortgage loans and approved by MLCC, as of the date hereof or in accordance with the terms of this Addendum, to participate in the Mortgage Broker Program. “Mortgage Broker Guide” means the “Mortgage Broker Manual”, a copy of which has been provided to Cendant, which sets forth the terms and conditions applicable to Cendant Loans and Mortgage Brokers under the Mortgage Broker Program, as the same may be amended from time to time by MLCC. “Mortgage Broker Program” means MLCC’s program of underwriting Cendant Loans referred to MLCC by Mortgage Brokers.

Correspondent Lender. A mortgage banking related entity from which MLCC -------------------- purchases Mortgage Loans under its Correspondent Lending program, as more fully described in the Prospectus Supplement dated March 19, 1997.

Correspondent Lender means a lender which does not meet all of the qualification

Correspondent Lender means a lender that does not meet all of the qualification requirements for designation as, or has not made an Offer to Participate as, a Lender pursuant to the terms of this Agreement, but wishes to originate Mortgage Loans under a particular Program Installment pursuant to a correspondent designation agreement, executed by Lender, wherein such Correspondent is approved by Lender to originate and sell, transfer, or assign to Lender, Mortgage Loans originated under a particular Program Installment and related Program Notice.

Correspondent Lender means a person engaged in the business of making mortgage loans in such person's own name where the loans are not held by such person for more than ninety days and are funded by another person through a warehouse agreement, table funding agreement or similar agreement;

Correspondent Lender. A mortgage banking related entity from which MLCC purchases Mortgage Loans under its Correspondent Lending program, as such program is more fully described in the Prospectus Supplement dated December 16, 1999.

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