Loan Prospector definition
Examples of Loan Prospector in a sentence
The Seller shall assure that the Buyer has access to the ▇▇▇▇▇▇▇ Mac Loan Prospector (LP) ▇▇▇▇▇▇ ▇▇▇ DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL”or “FHA Streamline” programs.
Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan that fully conforms to all underwriting standards, loan amount limitations and other requirements of that standard Agency mortgage loan purchase program accepting only the highest quality mortgage loans underwritten without dependence on expanded criteria provisions, or that is approved by Desktop Underwriter or Loan Prospector.
As used herein, the term “Appraised Value Alternative” means with respect to (i) refinanced Mortgage Loans underwritten with the use of the ▇▇▇▇▇▇ ▇▇▇ direct underwriting system with respect to which a property inspection waiver has been issued, (ii) ▇▇▇▇▇▇ ▇▇▇ “DU Refi” Mortgage Loans and (iii) Freddie Mac “Open Access” Mortgage Loans, the value entered by Seller into Fannie Mae’s Desktop Underwriter or Freddie Mac’s Loan Prospector system, as applicable.
The Seller shall assure that the Buyer has access to the ▇▇▇▇▇▇▇ Mac Loan Prospector (LP) ▇▇▇▇▇▇ Mae DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL” or “FHA Streamline” programs.
During installation and operational testing of Loan Prospector, the Software.
The Seller shall assure that the Buyer has access to the ▇▇▇▇▇▇▇ Mac Loan Prospector (LP) ▇▇▇▇▇▇ ▇▇▇ DeskTop Underwriting (DU) to confirm the approved status of the Mortgage Loans under such programs; provided that LP and DU are not used for Mortgage Loans that are part of the “VA IRRRL” or “FHA Streamline” programs.
Please ▇▇▇▇ the appropriate line if you use automated underwriting: ▇▇▇▇▇▇ Mae's Desktop Underwriter ▇▇▇▇▇▇▇ Mac's Loan Prospector Other Automated System - please specify Please indicate the percentage of all loans run through automated underwriting.
All waivers of representations and warranties that attach to any Mortgage Loan by reason of the use of DeskTop Underwriter, Loan Prospector, or any other Automated Underwriting System shall transfer automatically to Purchaser.
A Loan Prospector Stated Income Mortgage may be secured by a 1-4 unit Primary Residence, a second home, and a 1-4 unit Investment Property.
The LTV/TLTV/HTLTV ratios for a Loan Prospector Stated Income Mortgage may not exceed the maximum LTV/TLTV/HTLTV ratios set forth in Exhibit 5-A attached to this Attachment.