Origination File definition

Origination File means all information, in hard copy or electronic form, which you create, receive or require in connection with the origination of the loan. For example, the following documents, as applicable, must be in the Origination File: the Borrower’s signed loan application; loan underwriting, processing and approval notes; automated underwriting system findings; evidence or verification of employment, income, assets, deposit, rent and other Borrower debts; credit reports; appraisal or other evidence of the Original Value; evidence of project approval for a condominium or cooperative housing property; and any other documents that are described in our Underwriting Guidelines in effect as of the Application date.

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Origination File means, with respect to a Covered Loan, copies (either physical or electronic images) of the following documents created or received in connection with the origination and closing of the Covered Loan: the signed loan application; disclosure statements; purchase contract, if applicable; credit reports; verifications of employment, income, assets, and deposit; final HUD-1 or other settlement statement; the note; the mortgage, deed of trust or security deed (including any riders thereto once returned from the land records); and evidence of the Original Value.

Origination File means, with respect to each Mortgage Loan, the file created by Lender pursuant to Section 3.05(b) hereof and containing the items listed in Exhibit D. "Origination Period" shall mean the period during which Lender may originate and close Mortgage Loans, such time period commencing on the Start Date and ending on the Final Closing Date, as such dates are set forth in the Program Notice relating to a particular Program Installment.

Examples of Origination File in a sentence

• If an Origination File is authorized or issued by CLIENT, or on CLIENT’s behalf, or CLIENT otherwise benefits from such Origination File, CLIENT agrees to be bound by the Origination File, whether or not Company complies with the Security Procedures.

• Loan file reviews shall be conducted in the Company's offices at the Company's expense and shall be limited to reviewing electronic images of the Origination File.

• If the Insured fails to provide a copy of an Origination File and/or Servicing File within such sixty (60) day period, the Company will promptly provide a second notice to the Insured, allowing the Insured to provide the Origination File and/or Servicing File within an additional thirty (30) day period.

• If the Insured fails to make the identified Origination File and/or Servicing File available to the Company within such additional thirty (30) day period, the Company may cancel coverage on the related Covered Loan and there shall be no refund of premium.

• CLIENT agrees that Company may delay the execution of an Origination File until Company has completed any security measures Company, in its sole discretion, deems warranted.

• If such activity is identified, the Origination File may be rejected until such time as Bank has made contact with Company and the matter has been resolved, to the satisfaction of the Bank, in its sole discretion.

• If an Origination File is authorized or issued by the Customer, or on the Customer’s behalf, or the Customer otherwise benefits from such Origination File, the Customer agrees to be bound by the Origination File, whether or not the Bank complies with the security procedures.

• CLIENT authorizes Company to execute Origination Files pursuant to the instructions of anyone who has provided Company with proper Access Codes and acknowledges that Company shall conclusively presume that any person possessing CLIENT’s Access Codes is an Authorized Representative and will regard their Origination File as being authorized by CLIENT.

More Definitions of Origination File

Origination File means all information, in hard copy or electronic form, which you create, receive or require in connection with the origination of the loan. For example, the following documents, as applicable, must be in the Origination File: the Borrower’s signed loan application; loan underwriting, processing and approval notes;