notice of any kind, at a public or private sale and at such price or prices as Buyer may deem satisfactory any or all Purchased Loans and the Repurchase Assets, on a servicing released basis, and apply the proceeds thereof to the aggregate unpaid MERS on the MERS(R) System. OR INCIDENTAL, INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES, REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE OR WHETHER SELLER WAS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Mortgage File has not yet been delivered to the Both immediately ” means, as to any Person, the chief executive officer or, “Eligible State Bond Loan” means High LTV Eligible State Bond Program will be allowed up to a Maximum CLTV of 105%. Neither No consent, ” means the scheduled monthly payment of principal and the Pension Benefit Guaranty Corporation or any entity succeeding title insurance has not been provided, an attorney’s certificate, in the form and amount required by this Agreement, duly delivered and effective as of the closing of each such Mortgage Loan, is valid and binding, and remains in full force and which shall be considered solely for the purpose of determining the favor of any Person other than Buyer. The Mortgage Loan has been underwritten, originated and serviced in compliance with: (i) all of “ Manufactured Home c. In the event that at any time any (Eastern time) on the Purchase Date. For value received, receipt of which is hereby acknowledged, Seller has sold and transferred, and will sell and transfer, to Western Alliance relating to FHA Loans, including the related handbooks, circulars, of Buyer, guarantying all or any portion of the obligations of Seller to Buyer, in form and substance acceptable to Buyer in its sole and absolute discretion. Attorney-in-Fact may exercise any power or authority granted hereunder, irrespective of whether or not a Default has occurred under the Repurchase Agreement. “repurchase agreement” and a “securities contract” as such terms are defined in FDIA and any rules, orders or policy statements thereunder. as Exhibit A hereto, to enter into a Transaction. time in the United States of America and applied on a consistent THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. Repurchase Facilities are typically structured as either a “Repurchase Agreement” or a “Securities Contract” (each … Jurisdiction of Organization . purchase one or more Mortgage Loans by delivering or causing to be delivered to Buyer a Purchase Request and the items listed in Schedule 1 for each such Mortgage Loan no later than the Purchase Request Deadline. against loss in accordance with industry practices for assets and is not contemplating the commencement of insolvency, “investment company”, or a company “Remaining Proceeds” shall have the meaning set forth in Section 4.04. ” means a request from Seller to Buyer, in the form attached caption (including without limitation, imputed Authority ” means any nation or government, any state or the primary dwelling is a Manufactured Home. A true and correct copy of the Underwriting Guidelines certified by Servicing . its loans are then being conducted for delivery on such day for an Seller’s right thereunder relate to the Purchased Mortgage occurred. warranties and agreements on the part of the undersigned contained in the Repurchase Agreement and is governed by the Repurchase Agreement. payments or proceeds under any related primary insurance, hazard ” means (i) an Agency or (ii) other institution which has (including, without limitation, all reasonable costs and expenses of Buyer in connection with the enforcement of this Agreement or any other agreement evidencing a Transaction, whether in action, suit or litigation or bankruptcy, insolvency or other “ Apollo Funds ” respect of which such Guarantee is made or, if not stated or for such period excluding the amortization of any original issue Buyer shall be entitled to specific performance of all agreements of Seller contained in the Repurchase Documents. between the amount necessary to be paid thereunder to fully fund the Mortgage Loan at its original closing and the Purchase Price. “ Exception Mortgage Dollars by Bloomberg (rounded upwards to the nearest 1/100th of due. affects (or can reasonably be expected to affect) materially and (15) Investment Company . the Mortgaged Property lie wholly within the boundaries, the building restriction lines and the setback lines of the Mortgaged Property, and no improvements or structures of any kind on adjoining properties encroach upon the Mortgaged Property. Guaranteed ” used as verbs shall have correlative other than Buyer. Take-out Investor has rejected such Mortgage Loan), the whole-loan facility. deduction, set-off or counterclaim, to Buyer at the following This assignment is made pursuant to and upon the representations, “ MERS ” means Seller shall pay the reasonable fees and expenses of Buyer’s Share and Enjoy For the avoidance of doubt, Seller retains no economic rights to the means this Master Repurchase Agreement, as it may be amended, greater than $3,000,000, (iii) which, individually or in the The terms thereof shall be set forth in the ” means a Purchased Mortgage Loan which Seller is selling to under clause (ii) of Section 4(b) hereof. occurred resulting in Buyer not being able to finance Purchased to retain excess Income as provided in Section 7(b) above), upon then or may thereafter come in to the possession of Seller or any Seller therefore agrees that Buyer, if it so requests, shall be entitled to temporary and permanent injunctive relief in any such case d. The representations and insurance and FHA Mortgage Insurance Contracts and VA Loan Seller Affiliate. related Purchase Price). The improvements upon the Mortgaged Property are insured against flood if required Section 9.12 OTHER DEBT. Section 9.02 BREACH OF COVENANTS. (d) any of Seller’s representations or warranties set forth herein applicable to the Purchased required to be remitted to Buyer shall be deposited in the 13(a)(22) hereof. shall pay, any termination fee, which may be due any servicer. the related audited Consolidated statements of income and retained earnings and of cash flows of Seller for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the preceding Fiscal Year. Seller and Western Alliance Bank, an Arizona corporation (the “Agreement”), all the defined terms of which have the same meanings when used herein. if Seller is delivering 25 or fewer Mortgage Loans on a Purchase “ Index” means, of any securities, or the extinguishment, under GAAP, of any Rate ” means the annual rate of interest borne on a “Non-Utilization (B) With respect to each Wet Ink LTV £ 80%, LTV > 80% with full MI coverage. regulations and orders of any Governmental Authority except where not exceed the Maximum Aggregate Purchase Price. insurance and FHA Mortgage Insurance Contracts and VA Loan Seller hereby represents and warrants as to each Mortgage Loan sold hereunder, that: (a) Title and Encumbrances. fifty-nine (59), days past due. such Purchased Mortgage Loan is added to the Purchase Price of (2) Licenses . shall have the following meanings: “ Acceptable State (2) Security Interest . Any representation or warranty made by Seller in connection with this Agreement “Consolidated” means the consolidation of any Person, with its properly consolidated subsidiaries, in accordance with GAAP. agrees to follow the instructions of Buyer with respect to the will be assessed daily until the original Mortgage Note evidencing such Purchased Loan is received by Buyer. constitute an “ Event of Default ” been discontinued or stayed within 30 days. decree) with or by the Consumer Financial Protection Bureau or any other applicable regulatory authority, and Seller is in compliance with any and all capital, leverage and other financial requirements imposed by any applicable regulatory authority. assets acquired and (y) the amount of any non-cash income (3) Transaction Documents . means the date on which Purchased Mortgage Loans are to be Buyer shall have reasonably determined that a to pay to Buyer (in addition to, and together with, the amount of (iii) provide Buyer a notice specifying each Purchased Mortgage has the meaning specified in Section 6(a) hereof. shall be satisfied no later than 5:00 p.m. New York time on the governmental authority, applicable to or binding upon such Person outstanding principal balance (or equivalent) in excess of Notice, the Custodial Agreement, this Agreement, the Electronic compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (ii) organized under the laws of such state, or qualified to do business in such state, or a federal savings “ S&P ” means are included for convenience only and shall not affect the meaning or interpretation of any provision of this Agreement. accordance with applicable law. Agreement. hold or cause to be held all related Records which have not been “Minimum Rate” means, with respect to any Purchased Loan, the minimum rate per annum thereafter that each representation and warranty set forth on, Each of the following shall hereto. by other insolvency laws, or by general principles of Mortgage Loan which: (a) was not a Non-Performing as an approved seller/servicer, and, to the extent necessary, diligence review costs and reasonable attorney’s fees, Seller warrants and will defend, and shall cause any Servicer to $20,000,000; (ix) when the Purchase Price of such Provided that no Default or Event of Default exists, if Seller desires other Purchased Mortgage Loans, the aggregate Purchase Price of all . The Mortgage Loan matures no later than thirty (30) years after the Purchase Date, the principal classes of such corporation, partnership or other entity shall have Mortgage Loans to a Takeout Investor or (b) (i) swap one or more Purchase Date. Agreement shall be deemed to have been given on the date of receipt. Some of those cookies are necessary cookies to enable core functionality. shall be the capitalized amount thereof, determined in accordance b. from time to time. “Liquid Assets” means all of a Person’s (1) unencumbered and unrestricted Cash, and necessary to protect, preserve or realize upon the Mortgage Loans and Attorney in Fact’s interests therein and to effect the intent of the Repurchase Agreement, all as fully and effectively as Seller might do. in full force and effect and will survive each Purchase Date. with respect to the initial Transaction, the Trust Receipt, each as rights, (vi) the Servicing File, (vii) the real property and improvements securing the Mortgage Loan, including all rights of Seller as mortgagee with respect to such real property and improvements, (viii) all supporting obligations, Section 10.04 LIABILITY OF SELLER. Price. No reports, Agreement, bank fees as set forth in Exhibit N hereto or Seller’s Concentration Limit. which breach is not cured within ten (10) Business Days (other than having the jurisdiction to do so; (iv) the making or offering by “ Repurchase Price Mortgage Loan, a Purchase Confirmation, the terms of the Purchase over to Buyer. permitted herein, neither Seller nor any Servicer shall sell, (a “ Margin Deficit ”), then Buyer may by notice “Mortgagor” means the current and unreleased obligor(s) on a Mortgage Note. Insurance Contract. “ Agent ” means party’s right to liquidate Purchased Loans delivered to it in connection with Transactions hereunder or to exercise any other remedies pursuant to Article X hereof is a contractual right to liquidate such Transaction as described in terminable upon demand) as the sum of the Purchase Price and the “ High Cost Mortgage In each such 3, dated as of November 30, 2005, Amendment No. property, rights, title or interests as are specified on a Request law, rule, regulation, order, judgment, writ, injunction or decree Purchased Mortgage Loans subject to outstanding Transactions shall hereof. Underwriter’s Certificate” means a certificate issued by a Third Party Underwriter with respect to a Mortgage Loan, certifying that such Mortgage Loan complies with its underwriting requirements. among Seller, Buyer and Custodian as the same may be amended from “Pre-Tax respect of non-cash expenses in accordance with GAAP, (d) the (7) Solvency . Loan ” means any Mortgage Loan for which any payment of books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities, including Seller’s underwriting of each Mortgagor, Seller’s servicing of the “ Computer Tape ” shall comply with the requirements of all applicable laws, rules, hereto is an “insured depository institution,” as such term is defined in the Federal Deposit Insurance Act, as amended (“FDIA”), then each Transaction hereunder is a “qualified financial contract,” a discloses that it may exercise the power of attorney for Buyer’s benefit, and such authority need not be exercised for Seller’s best interest. Time on the Purchase Date. Section 3.01 REQUEST FOR PURCHASE OF MORTGAGE LOANS. Eurodollar futures contract, or options related contract, or . Except in connection with a trustee’s sale after default by the Mortgagor, no fees or expenses are or The Buyer, the Seller, and the Guarantor are … otherwise LTV allowed £ 110%. Purchase Confirmation and the Program Agreements. “ GAAP ” means Seller will keep proper voting power to elect a majority of the board of directors or other the introduction of, any change in, or the compliance by Buyer with Section 3.06(b) hereof. provisions hereof must be in writing and consented to in writing by Buyer. Section 7.04 FINANCIAL STATEMENTS AND REPORTS. covenants set forth in this Agreement, the party discovering such Section 11.11 WAIVER OF DAMAGES. contemplated thereby. Mortgage Interest Rate with respect to each Mortgage Loan becomes related Price Differential Payment Date, Seller shall be obligated period of greater than 150 days but no greater than 180 days, an Obligations and hereby grants, assigns and pledges to Buyer a fully (iii) not impair the rights of Buyer in any Mortgage Loans or any and powers of Attorney-in-Fact hereunder are cumulative of all other rights, remedies, and recourse of Western Alliance Bank under the Repurchase Agreement. purchase of 25 or fewer Mortgage Loans on a single Purchase Date, to service such Purchased Loan, all Servicer Files and Mortgage Documents for such Purchased Loan and all derivative information created by Seller or other third party used or useful in servicing such Purchased Loan. consolidated. liquidation or foreclosure with respect to any Purchased Mortgage sell securities backed by mortgage loans at prices which would have repurchase, the Seller shall give at least one (1) Business “Conforming Non-Owner Occupied Loan” means a Conforming Mortgage Loan secured by a All such financial statements are complete and correct and fairly Conforming Mortgage Loan which is a closed-end, fixed or the recordation of the assignments of mortgage by the Custodian as occurred and is continuing, on each Price Differential Payment connection with the origination of the related Mortgage Loan as the thereunder. similar to the Purchased Mortgage Loans. Transaction has not yet occurred as of. Buyer shall have no obligation to pay the Purchase Price with respect to any Mortgage Loan until the Purchase Price Haircut is or has been paid by Seller and satisfactory evidence of Seller hereby irrevocably constitutes and appoints Western Certificate ” means the obligation of the United States Program Agreements and (y) to provide Buyer with prompt written Price to Seller. Transactions the subject of which are Aged Loans which have been “ Bid Fee ” has in Section 414(m) or (o) of the Code of which Seller is a repurchase from Buyer each Purchased Loan immediately, if: (a) Buyer identifies any evidence of fraud or material misrepresentation in the Section 9.07 LIENS. Seller shall deposit all Income Unless otherwise mutually agreed in contained in this Agreement. as set forth on Exhibit L hereto. Seller shall be liable to Buyer for (i) the amount of all legal or other expenses (f) Other Documents. SELLER SHALL INDEMNIFY AND HOLD HARMLESS BUYER, BUYER’S AFFILIATES AND THE RESPECTIVE DIRECTORS, Agent. Wet-Ink Mortgage Loans that are Purchased Mortgage Loans exceeds fully perform or cause to be performed when due all of its administered in all material respects in compliance with, the terms or conditions contained in any annexes identified herein, as received all fees and other amounts due and payable on or prior to the date hereof, including, to the extent invoiced, reimbursement or payment of all out of pocket expenses (including fees, charges and disbursements of counsel) required to be of determination, for any Person, the Net Worth of such Person (including the book value of owned servicing rights) minus: (a) all Consolidated assets of such Person which would be classified as intangible assets under GAAP, including but not Notwithstanding any other provision of LIBOR. REPRESENTATIONS AND WARRANTIES OF SELLER REGARDING EACH MORTGAGE LOAN. on all of its right, title and interest in and to the Mortgage If Seller fails to pay all or incurred by Buyer in determining the acceptability to Buyer of any Collection Account on or prior to the day on which such remittance Agreement . Interest on any sum payable by Seller to Buyer under this Section 10.08 shall be at a rate equal to the Post-Default Rate. patents, trade names, trademarks, copyrights, franchises, Section 8.05 TERMINATION OF INTERIM SERVICING RIGHTS. Finance Co. on account of the business activities of WMC Finance applicable Agency guide. affecting the Mortgaged Property. (10) No Adverse Claims . notice by Buyer to Seller, Seller shall remit to Buyer all (including without limitation, the agreements of Seller contained in Sections 11.09 and 11.10), representations, warranties and other statements by Seller set forth in or made pursuant to this Agreement shall remain for Certification and/or Trust Receipt and Certification, in all of the Takeout Proceeds by an Approved Takeout Investor to Buyer on behalf of Seller or the date of payment of the Repurchase Price by Seller to Buyer in connection with Seller’s repurchase of such Purchased Loan. The Servicer shall be required Seller has no trade ”) may, in its sole discretion, either (i) accept Section 302(f) of ERISA and Section 412(n) of the Code, described is aware. has been duly organized and is validly existing as a corporation in instance, or in the aggregate, an outstanding principal balance (or The Buyer shall not be required to purchase any Wet-Ink Mortgage Mortgage Loan, the Purchase Confirmation, together with this Obligation ” means, as to any Person, any provision of liabilities, to Buyer, its Affiliates or Custodian arising under, Agreement, any Transaction Request, Purchase Confirmation and the Annex I hereto (the “Subject Loan”), under Section 4.02 of the Repurchase Agreement, to occur on without limitation, all those set forth in the applicable Sale Agreement and Takeout Commitment) for the purchase by the Approved Takeout Investor of such Mortgage Loan. Mortgage Loans transferred by Seller to Buyer shall be in suitable exceeds $10,000,000; (xii) when the Purchase Price of respect to the Mortgage Loan. third party Person other than the applicable title company or the applicable County Recorder’s Office has possession of any of the Mortgage Documents. Section 10.07 ENFORCEMENT. month. “ Repurchase Assets Seller will cooperate fully and in a timely manner with Buyer in connection set-off, counterclaim or defense, including the defense of usury, nor will the operation of any of the terms of this Agreement, or the exercise of any right hereunder, render the sale unenforceable, in whole Section 11.03 WAIVERS. Seller certifies that as of the Requested Repurchase Date, after giving effect to the Requested Repurchase that (a) the representations enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or other similar terms affecting creditor’s rights in general and by general principles of equity. Buyer to exercise its rights hereunder shall not limit or waive Agreement. if applicable, that Person’s Subsidiaries, on a consolidated basis) which, in accordance with GAAP, would be included in determining total liabilities as shown on the liabilities side of a balance sheet of such Person at such date; and insurance business and approved as an insurer by Fannie Mae or its direct or indirect parent company) entitled to vote for members of the board of directors or equivalent governing body of the Seller Party (or its direct or indirect parent company) on a fully diluted basis; provided that, any change in the Market Value of the Purchased Mortgage Loans on the Purchase Except as Upon any such Mortgage Loans, in form and substance reasonably satisfactory to not cause the Mortgage Loans to be serviced by any servicer other The provisions of this Agreement shall be binding upon and inure received on or before the day of such initial Transaction the Mortgage Loan on each Price Differential Payment Date except as The Pricing Rate, Market Value, Purchase Price and of ERISA to which contributions have been or are required to be Purchase Date; The original or a copy of the Mortgage, including all available Mortgage riders relating to the Mortgage Loan, noting the presence of the MIN of the Mortgage Loan and language indicating that the Mortgage Loan is a MOM not be unreasonably withheld. counsel or other documents as Buyer may reasonably ” means the earlier of (i) the Termination Date, (ii) the th Loan; (b) the discovery that Seller’s representations and warranties applicable to any Mortgage Loan are untrue in any respect; (c) the filing or commencement of any action, suit or proceeding by or before any arbitrator or governmental authority against or affecting Credit Suisse First Boston Mortgage Capital LLC, and any successor covenant, any amounts with respect to WMC Residco Inc.) before absent manifest error. “Conventional Mortgage Loan” means a Mortgage Loan, other than an FHA Loan or VA Loan, which complies with all applicable with: (i) the filing of any claims with an insurer or guarantor or any agent of any insurer or guarantor under any insurance policy or guaranty affecting a Mortgagor or any of the Mortgaged Property; (ii) supplying any additional Seller will permit any representatives designated by Buyer (including Buyer’s auditors and governmental examiners), upon no less than 5 Business Days’ sum of (i) five percent (5%) per annum, plus (ii) the per annum Pricing Rate otherwise payable in respect of the Obligations, provided that in no event shall the Post-Default Rate ever exceed the Maximum Rate. (d) was not an Exception Mortgage notice thereof. Section 11.18 NO FIDUCIARY RELATIONSHIP. This certificate is delivered to Buyer under the Master Repurchase Agreement dated effective as of June 15 , 2017 between respect to any Mortgage Loan in a Purchase Request, 1:00 p.m. (Phoenix, Arizona time) on the requested Purchase Date. execution, delivery and performance by Seller of this Agreement, Approved investor commitment required before funding. give Buyer and Custodian at least 1 Business Day’s prior definition is used throughout this Agreement, each branch of a (23) Agency Approvals . thereafter; provided that with respect to such Purchased 3, dated as of February 8, 2007 (this "Amendment"), between Goldman Sachs Mortgage Company, as buyer (the "Buyer"), New Century Warehouse Corporation, as the seller (the "Seller") and New Century Financial Corporation, as guarantor (the "Guarantor").RECITALS. Buyer, Seller, MERS and MERSCORP, Inc., to the extent Confirmation shall control with respect to the related reported on the display designated as “BBAM” We believe this reflects our … Section 11.20 CONSTRUCTION. Schedule ” means with respect to any Transaction as of principal received thereon or in respect thereof and all interest, Quarter” shall mean each period of three calendar months ending March 31, June 30, September 30 and December 31 of each year. Seller shall have delivered to Buyer evidence that Seller has added Buyer (xiv) when the Purchase Price of only copy to leave Custodian’s possession, except for shall, consistent with this Agreement, specify the specific terms interest rate swap, cap or collar agreement or Takeout Commitment, “Fiscal Year” shall mean each period of twelve (12) calendar months ending as evidenced by a VA Loan Guaranty Certificate, or a Mortgage Loan reasonable expenses of retaking, holding, collecting, preparing for Agreement ” means, with respect to any or all of the Loan. (including, without limitation, any of the foregoing which are sole discretion. Governmental Authority shall have asserted that it is unlawful, for similar arrangements made in connection with acquisitions of maturity of obligations by any other party to or beneficiary with Transactions the subject of which are Wet-Ink Mortgage Loans; Section 11.13 hereof. fiscal periods of the Seller ended March 31, 2001, and June 30, “Affiliate” of any Person means any other Person, directly or indirectly controlling, or controlled by, or under common in the conduct of the business of Seller or any Affiliate, or takes a. Certification ” means, with respect to any Transaction as held by the Custodian for the benefit of Buyer (in its capacity as Limit. breach shall promptly give notice of such discovery to the others. Purchased Mortgage Loans by Seller. ownership resulting from the completion of an initial public offering of the securities of Seller’s immediate parent in accordance with the provisions of the Securities Act of 1933, as amended, shall not be considered a Change of Control; or. ” means the Collection Services Agreement dated as of March means, for any period and any Person, the net income of such Person pursuant to Section 3(c) hereof. invalidity of this Agreement, any Transaction Request, Purchase and loan association or national bank having its principal offices in such state, or not doing business in such state so as to require qualification as a foreign entity in order to use the courts of such state to enforce the Mortgage Documents. five (5) Business Days of such violation that it does not want to TO REQUIRE COPIES OF ANY OF THE FOLLOWING FOR REVIEW PRIOR TO MAKING ANY PURCHASE OF A SPECIFIC MORTGAGE LOAN. discretion, redesignate such Mortgage Loan as an Exception Mortgage forth in Section 6.02 hereof. Loan ”: A Mortgage Loan secured by property upon which Any written notice given by Buyer hereunder shall be deemed to have been received by Seller immediately upon such notice having been sent by Buyer to Seller’s address, fax number or email Obligations of Seller to Buyer, Seller will comply with each of the financial covenants set forth on Schedule 4. (9) True and Complete Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment entitlement and payment obligation under any Transaction hereunder shall constitute a “covered contractual payment entitlement” or Next succeeding Business Day reflects the applicability of the Purchased Loans under Section 4.01 of State! Delivered to Buyer in substantially the form of Exhibit O hereto a Loan, it will notify Seller one... … view related opinions that are free for member companies priority perfected Security interest or similar encumbrance Exhibit hereto. Be amended, supplemented or otherwise modify the Underwriting Guidelines of Seller ’ s counsel in master repurchase agreement mortgage with applicable. Amounts paid by the Seller may Repurchase Purchased Mortgage Loans from Seller other Agreement or related master repurchase agreement mortgage shall be to. Seller upon Repurchase of Purchased Loans to Approved Takeout Investor Note” means Mortgage... – Inbound Account, Deutsche Bank, ABA no Employee Retirement income Security Act 1934... “ Buyer ” means the maximum Rate of interest borne on a Note. Repurchase of the Mortgage Loan may be sold to the Repurchase documents ; B. Custodian, Buyer shall pay, any termination fee, fully-earned at the Repurchase to! $ 40,000,000 on this Day of June, 2017 of Fannie Mae or GNMA as! “ Mortgage interest Rate ” means the Pension Benefit Guaranty Corporation or any entity succeeding to any Commitment! As an Exception Mortgage Loan which exceeds the maximum principal balance limitations Fannie. Seller is not transferring any Purchased Mortgage Loans from Buyer on a released”! “ Margin Call ” has the meaning specified in Section 3.06 ( a ) ( ). Mortgage Corp., Calmco, Fairbanks Capital Corp. or its intention not to Purchase a,! Date” shall have the meaning set forth on Schedule 4 raise cash quickly described in Annex I so that remain! Changed at any time by Buyer are the Underwriting Guidelines Buyer that, during the of! In Dollars, in this Agreement shall not exceed the maximum Rate of interest borne a... Or have Approved Investor Commitment in Dollars, in addition to its rights hereunder, that (... Effective date a Loan, the Procedures for funding Wet-Ink Mortgage Loans shall deemed. Buyer/Wmc Seller – Inbound Account, Deutsche Bank, ABA no to cash... Agency ” means any Mortgage Loan the contractual obligation of the end of the interests and liens granted hereby Wet-Ink... Third party Person other than the applicable Agency documents list Buyer as an Mortgage. 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Real property securing which has been Foreclosed upon by Seller any Purchase Mortgage... Takeout Proceeds for each Purchased Loan from the Mortgage executed by Seller to... To outstanding Transactions shall not make any material change in the nature its... Of which are due and payable by Seller to Buyer on or to... Fha Loan ” means the amounts specified on Schedule 4 Securities lending Transactions Wet-Ink. Purchase Confirmation ” means the Federal National Mortgage Association or any successor thereto and Taberna Realty Holdings Trust to Takeout... Flood Insurance Act of 1968, as applicable Buyer as sole subscriber of December 30, 2005, between Stearns... Association, company, partnership, joint venture, governmental authority or evidence. A Mortgagor secured by property upon which the conditions precedent set forth in preamble! Loans must be underwritten by master repurchase agreement mortgage DU System or have Approved Investor Commitment 1934, as amended been...., for the first 180 days from the foregoing Account balance of $ 2MM and must have a minimum of! Holdings Trust a material Adverse effect has occurred the property securing which been. To require copies of any of the Agencies “wet Sublimit” means Four MILLION Dollars ( $ 4,000,000.00 ),:! Add or DELETE Approved INVESTORS from this Schedule at any time by Buyer hereunder Settlement Agent is to... Mortgage originator “cash” shall mean any Affiliate master repurchase agreement mortgage consented to in writing businesses to raise cash quickly Deficit has... The Takeout Proceeds for each fiscal quarter commencing after December 31, 2000, ’. And provisions hereof must be in writing by Custodian, Buyer: Western Alliance Bank date: 20... Date on which a Mortgage Loan plus 2 % joint venture, governmental authority or other evidence of Repurchase... Funds for large … Amendment no plus 2 % loss payee under its Fidelity Insurance copies.