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.
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."
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.
Examples of Correspondent Lending Program in a sentence
During the term of this Agreement, as between the Company and the Service Provider, the Service Provider and its Affiliates shall be prohibited from providing to a third party the services identified in Section 3.03 in connection with the Service Provider’s Correspondent Lending Program or any third party correspondent lending program.
More Definitions of Correspondent Lending Program
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
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.