Correspondent Lending Program definition

Correspondent Lending Program means that certain correspondent lending program established by the Service Provider for the Company and its Affiliates and pursuant to which the Company acquires Mortgage Loans that satisfy the terms of the related loan purchase agreement, including the requirements set forth in the applicable Guide(s), and any additional terms or conditions identified in acquisition policies and procedures adopted by the Service Provider from time to time on the Company’s behalf.
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Correspondent Lending Program. Program whereby a Correspondent Lender processes and closes a Mortgage Loan in its own name and funds the Mortgage Loan from its own funds. All Mortgage Loans are underwritten by personnel of MLCC, or in certain cases, the Correspondent Lender, in accordance with MLCC's standard underwriting guidelines. MLCC or its agent conducts a post-closing review on each Mortgage Loan prior to its purchase from the Correspondent Lender."
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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.
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Examples of Correspondent Lending Program in a sentence

  • 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.

  • The following provisions contained in the Origination Agreement shall not apply to Loans originated and closed pursuant to Correspondent Lending Program and this Addendum: Sections 6(a) (counselors), 6(c) (mortgage loan application processing), 6(e) (mortgage loan closing) and 6(f) (exception loans), and the second sentence of Section 6(d) (degree of care).

  • Cendant shall cause all Loans originated, closed and underwritten or purchased pursuant to the Correspondent Lending Program and Article II of this Addendum to be originated, closed and underwritten or purchased in accordance with the Underwriting Guidelines, the Correspondent Lending Guide, the applicable Commitment, the applicable Master Purchase Agreement and in accordance with all Applicable Requirements.

  • Plaza’s Sole Opinion Whenever any provision of the Program Documents require or allow Plaza to make a determination of its opinion, such determination shall be made at Plaza’s sole opinion.Updates and AmendmentsPlaza will update this Seller Guide from time to time to reflect changes in Plaza’s requirements and developments in Plaza’s Correspondent Lending Program.

  • If the assault was by a pupil(s), the Administration shall promptly investigate the matter and within two (2) weeks, when possible, determine suitable treatment for the assaulting pupil(s).

  • In case of defect of the NETIA software, the incident will be handled by NETIA for a correction of the software (“level 2” incident).

  • Standard Pricing is defined as that pricing that is posted on the daily Correspondent Lending Program Daily Pricing Matrix provided to the Seller on a daily basis.

  • Plaza’s Sole Opinion Whenever any provision of the Program Documents require or allow Plaza to make a determination of its opinion, such determination shall be made at Plaza’s sole opinion.Updates and Amendments Plaza will update this Seller Guide from time to time to reflect changes in Plaza’s requirements and developments in Plaza’s Correspondent Lending Program.

  • Notwithstanding the foregoing, Cendant shall have no obligations to purchase any Loans pursuant to the Correspondent Lending Program other than the obligations set forth in this Addendum or any other agreement entered into by Cendant and MLCC contemporaneously herewith.

  • MLCC will pay the prices indicated on the daily Correspondent Lending Program Daily Pricing Matrix.


More Definitions of Correspondent Lending Program

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.
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Correspondent Lending Program means MLCC’s program of purchasing 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 Loans sold by a Correspondent Lender to MLCC, which 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 Loans originated and closed pursuant to and in accordance with the “Delegated Underwriting Program” (as such term is defined in the Correspondent Lending Guide). “Equity Access® Loans” shall mean home equity lines of credit offered to Borrowers under the Wholesale Lending Program. “Loans” means Portfolio Loans and Cendant Loans. “Master Purchase Agreement” means a Master Loan Purchase and Sale Agreement, a form of which is attached hereto as Exhibit C (which form of agreement may be
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Related to Correspondent Lending Program

  • Correspondent means any insurer or other person appointed by one or more insurers with the approval of the Bureau of the country in which the person is established with a view to handling and settling claims arising from accidents involving vehicles for which the insurer or insurers in question have issued an insurance policy and occurring in that country;

  • Identified Participating Lenders has the meaning set forth in Section 2.05(a)(v)(C)(3).

  • Participating Lender has the meaning set forth in Section 2.05(a)(v)(C)(2).

  • Conduit Lender any special purpose corporation organized and administered by any Lender for the purpose of making Loans otherwise required to be made by such Lender and designated by such Lender in a written instrument; provided, that the designation by any Lender of a Conduit Lender shall not relieve the designating Lender of any of its obligations to fund a Loan under this Agreement if, for any reason, its Conduit Lender fails to fund any such Loan, and the designating Lender (and not the Conduit Lender) shall have the sole right and responsibility to deliver all consents and waivers required or requested under this Agreement with respect to its Conduit Lender, and provided, further, that no Conduit Lender shall (a) be entitled to receive any greater amount pursuant to Section 2.18, 2.19, 2.20 or 10.5 than the designating Lender would have been entitled to receive in respect of the extensions of credit made by such Conduit Lender or (b) be deemed to have any Commitment.

  • Designating Lender means, with respect to each Designated Lender, the Lender that designated such Designated Lender pursuant to Section 12.1.2.

  • Additional Revolving Lender means any Lender with an Additional Revolving Credit Commitment or any Additional Revolving Credit Exposure.

  • Term SOFR Administrator means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion).

  • Extending Revolving Credit Lender has the meaning set forth in Section 2.16(c).