Those exceptions were reaffirmed in a strong anti-debtor opinion in American Home Mortgage, Holdings, Inc. v. Lehman Brothers Inc. families) thereon which is fully completed and legally ready for occupancy. transfer (same day) to be paid to the applicable title company. “MOM Loan” means, with respect to any Mortgage Loan, MERS acting as the mortgagee of Non-Utilization Fee as stated in Section 3.07 is waived for the first 180 days from the effective date. Seller shall promptly take such actions and furnish to Buyer such documents that Buyer deems necessary or appropriate to enable Buyer to cure any defect in each such Purchased Loan or to enforce such Purchased Loans, (c) Files Marked; Files and Records Owned by Buyer. “Purchase Request Deadline” means 12:00 p.m. (Phoenix, Arizona time) on the requested Purchase Date. mark to market adjustments for owned mortgage servicing rights and non-cash compensation in the form of stock or membership interest. AMENDMENT NO. RECITALS Repurchase Price, or of any other sum which has become due and payable under the terms hereof, for a period of five (5) days or greater, or (b) on the Termination Date of the aggregate Repurchase Price for all Purchased Loans. “Servicer Files” means, with respect to any Mortgage Loan, all Mortgage Loan papers and documents required to be reasonably satisfactory to Buyer that any Liens reflected thereon encumbering any of the Purchased Loans or other property sold to Buyer hereunder have been released; and (ii) all documents and instruments, including Uniform Commercial Code .”). reimbursed or paid by Seller under the Repurchase Documents. “Seller’s Concentration Limit” shall have the meaning set forth on Schedule This Annex I forms a part of the Master Repurchase Agreement dated as of February 28, 2007 (the “Agreement”) among American Home Mortgage Acceptance, Inc., American Home Mortgage Corp., American Home Mortgage Investment Corp., American Home Mortgage Servicing, Inc. and ABN AMRO Bank N.V. (“ABN AMRO”). On the other hand, an asset financed pursuant to a “Securities Contract” does not have to be repurchased within one year, but a Buyer that is a party to a “Securities Contract” must meet certain … banks located in the city of Phoenix, Arizona are authorized or obligated by law or executive order to be closed and any day on which Buyer is authorized or obligated by law or executive order to be closed. 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 available to Buyer regarding quotes to dealers for the purchase of mortgage notes similar to the Mortgage Notes that have been delivered to Buyer pursuant to this Agreement. Seller or any Mortgage Loan; and. Section 11.07 GOVERNING LAW. “Non-Utilization Fee” shall have the meaning set forth on Schedule 4. DISCRETION, TO ADD OR DELETE APPROVED INVESTORS FROM THIS SCHEDULE AT ANY TIME. Seller is in material compliance with all laws, regulations and orders of any governmental authority applicable to it or its property and all indentures, agreements and other instruments (including, creditor’s rights in general and by general principles of equity. EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. Article IX hereof, provided that any requirement in connection with such event for the giving of notice or the lapse of time, or the happening of any further condition, event or act necessary for such event to including Seller, has done or omitted to do anything which would impair the coverage of such title insurance policy. Section 9.10 CESSATION OF BUSINESS. Buyer to any federal, state or local government attributable to the assignment of a Mortgage Loan. however, that, for purposes of this Agreement, loan loss reserves, deferred taxes arising from capitalized excess service fees, operating leases and Subordinated Debt shall be excluded from Liabilities. The Mortgage Loan may be sold to the Approved Takeout Investor under the Takeout Commitment after its purchase by Buyer hereunder. Seller has all requisite power and authority to execute and deliver the Repurchase Documents, to perform in accordance Within the THIS MASTER REPURCHASE AGREEMENT (the “Agreement”) is made and entered into as of January 25, 2008 by and between Countrywide Bank, FSB, a California corporation ( “Buyer”) , and Home Loan Center, Inc., a California corporation ( “Seller”). . Under the Bailee Letter delivered thereunder, Takeout Proceeds for each Purchased Loan are required to be sent to. “Bailee Letter” shall have the meaning set forth American Bankruptcy Institute Law Review Staff. This Agreement may be executed in two or more in the “Interim Funder” category of such system with respect to such Mortgage Loan. This MASTER REPURCHASE AGREEMENT (together with all exhibits and schedules attached hereto, this “Agreement”) is made as of this 15 th day of June, 2017, between Redfin Mortgage, LLC, a Delaware limited liability company (“Seller”) and Western Alliance Bank, an Arizona corporation (“Buyer”). Property except as contemplated by this Agreement. 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 Mortgaged Property covered by the Mortgage Loan is insured against loss or damage by fire and all or before the Repurchase Date therefore by payment of the Repurchase Price in the form of cash by federal wire transfer (same day) funds to Buyer. Section 8.07 SERVICING RELEASED. to be commenced by another with respect to any Seller Party or an Affiliate of any Seller Party; (ii) seeking or consenting to the appointment of a receiver, trustee, custodian or similar official for any Seller Party or an Affiliate of any Service companies to any mortgage loan purchase agreement as the downpayment. 02.11.2020 - Tremont Mortgage Trust (Nasdaq: TRMT) today announced that it has extended the maturity date of its Master Repurchase Facility with Citibank, N.A. Section 7.08 shall determine the average aggregate Purchase Prices outstanding during the preceding calendar month (or with respect to the Termination Date, during the period from the date through which the last calculation has been made to the Termination Date) Event of Default. Seller recognizes that shall have occurred and be continuing under the Repurchase Documents; (b) Representations and Warranties True. Dated as of September 2, 2005. “Post-Default Rate” shall mean, at the time in question, with respect to all Obligations, the 66 Canal Center Plaza, Suite 600 Pricing Rates, Purchase Fees, Sublimits, Purchase Price Percentage, and Repurchase Dates for, Repurchase Period (Days from Applicable Purchase “Takeout Commitment” means Exhibit B. Approved investor nature (“Liabilities”), but excluding any Liabilties resulting from the negligence, gross negligence, or intentional misconduct of Attorney-in-Fact or its officers. permitted to be outstanding at any one time for Purchased Loans in a specific type of Eligible Mortgage Loan, as set forth in Schedule 3 to this Agreement (expressed as a dollar amount or a percentage of Seller’s Concentration Limit). (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Section 3.07 NON-UTILIZATION FEE. If Buyer agrees to purchase a Mortgage Loan described in any Purchase Request, then in consideration The Court also rejected the argument that the agreement was a traditional UCC Article 9 security interest rather than a repurchase agreement. “Obligations” means (a) any amounts due and payable by Seller to Buyer in connection with a Transaction hereunder, THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. I hereby certify that: (a) I am, and at all times mentioned herein have been, the duly elected, qualified, and acting officer of Seller designated below; “Repurchase Date” means the date on which Seller is to repurchase the Purchased certificate delivered by Seller to Buyer, in form and substance satisfactory to Buyer, in its sole and absolute discretion. from the use of non-judicial process, enforcement and sale of all or any portion of the Repurchase Assets, or from any other election of remedies. Section 10.06 REMEDIES NON-EXCLUSIVE. other executive officer of Seller as being fairly stated in all material respects (subject to normal Fiscal. The Mortgaged Property is free of damage and in good repair, is free from toxic materials or other environmental hazards, no notice of condemnation has been given with respect to the Mortgaged Property and the A change occurs, or is reasonably likely to occur, in the business condition (financial or 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. Arizona Time) of any Business Day, Buyer will ship such Mortgage Note under a Bailee letter in form and substance reasonably satisfactory to Buyer (the “Bailee Letter”) to the applicable Approved Takeout Investor on the same is set forth in the preamble of this Agreement and Seller does not do business under any other names. against the transfer of funds by the transferee of such . Section 11.10 INDEMNITY. Each Purchase Request shall be deemed to constitute a representation and warranty by Seller on the date thereof as to the matters specified in protect the interests of the holder of the Mortgage Note and the Mortgage Documents, and as permitted by applicable law, both spouses are signatories on, and jointly and severally liable under, the Mortgage Note and the Mortgage Documents. Corp. v. Lehman Bros. Inc. Bevill, Bresler & Schulman Asset Mgmt. In an opinion relying in part on the market protection policy reflected by the exceptions, the Delaware Bankruptcy Court adopted a liberal definition of “repurchase agreement” that turned mostly on the intention of the parties as stated in the four corners of their agreement. Material Adverse Effect has occurred. Approved investor commitment required before funding. credit or the account of Seller. scheduled monthly payment of principal and interest on a Mortgage Loan. and as of each Purchase Date (except for the representations and warranties contained in Sections 6.01(c) through (h), which shall be true and correct at all times): (a) Organization and Authority. In a similar case decided only four months prior to the American Home decision, the Delaware Bankruptcy Court also found that a contract for the sale and repurchase of mortgage loans was a repurchase agreement as defined under section 101(47) of the Bankruptcy Code. All notices and other communications given to any party hereto in accordance with the provisions of this Any other items reasonably requested by Buyer in its sole discretion. Corp.) 878 F.2d 742, 743 (3d Cir. “Seller Repurchase Request” means a request executed by Seller and delivered to Buyer in substantially the form of “Cash Equivalents” shall mean (i) securities issued or directly and fully guaranteed or insured by the United States Government or any Section 10.08 LIABILITY FOR ADDITIONAL AMOUNTS. Seller agrees to take such action as is necessary to sell each Purchased Loan under the applicable Takeout otherwise LTV allowed £ 110%. 5, dated as of November 2, 2006 (this "Amendment"), to that certain Master Repurchase Agreement, dated as of December 12, 2005 (as previously amended, restated, supplemented or otherwise modified, the "Existing Repurchase Agreement"; as modified hereby and as further amended, restated, supplemented or otherwise modified and in effect from time to time, the "Repurchase Agreement … limited to, this Agreement, each Guaranty Agreement, the MERS Agreement, the Power of Attorney and the Compliance Certificate) shall be duly executed, issued and/or delivered by the parties thereto and delivered to Buyer. . origination, creation or underwriting of a Purchased Loan by Seller or the sale of the Purchased Loan to Buyer; or, (b) Buyer is unable to Maximum loan balance of $2MM and must have a minimum FICO of 700. consents and other communications hereunder shall be in writing and shall be delivered personally or mailed by first-class registered or certified mail, postage prepaid, or by telephonic facsimile transmission or electronic mail, to any party at its Price as so increased, (x) the Post-Default Rate to (y) the Repurchase Price for such Transaction as of the Repurchase Date as determined pursuant to subsection (a) of this Section (decreased as of any day Plaza and … done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges, franchises, patents, copyrights, trademarks and trade names material to the conduct of its business. RECITALS. period is less than the Minimum Utilization Amount, Seller shall pay to Buyer on such date, a Non-Utilization Fee for such period. In the event that Buyer receives actual notice of any Transfer Taxes arising out of the transfer, already occurred, shall be deemed immediately to occur. repurchase from Buyer each Purchased Loan immediately, if: (a) Buyer identifies any evidence of fraud or material misrepresentation in the statements relating to the Mortgage Loans as Attorney in Fact at its option may deem appropriate, and, without limiting the generality of the foregoing, Seller hereby gives Attorney in Fact the power and right, on behalf of Seller, without assent (o) Title Policy. Seller shall furnish to Buyer, in form and detail reasonably satisfactory to Buyer, date in accordance with this Agreement. Like a repurchase agreement, a warehouse lender using a purchase and sale agreement purchases the mortgage loans from the mortgage originator. non-delegated commitment required before funding. Section 10.01 Doug Lanois, Chief Financial Officer and Treasurer of TRMT, made the following statement: "We are pleased to announce the extension of our repurchase … Seller will comply with: (a) all laws, rules, regulations and orders of any governmental authority applicable to it or its property; (b) each Sale Agreement, each Takeout Commitment and all VA. FINANCIAL COVENANTS AND ADDITIONAL DEFINITIONS. (h) Entire Agreement. Section 3.06 REPURCHASE DATE, PRICE DIFFERENTIAL. Signature Page to Master Repurchase Agreement. Loan”). “Pre-Tax Net Profit” means Net Income of a Person before taxes and excludes Alexandria, VA 22314, Tel. 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 Dated as of October 30, 2009 . applicable requirements for purchase under the Fannie Mae or Freddie Mac standard form of conventional mortgage purchase contract. ARTICLE I. distributions payable thereon. As such, Seller expressly acknowledges that the Purchased Loan are sold to Buyer on a “servicing BUYER:                     Western Alliance Bank Business Day, otherwise Buyer will ship the documents the next Business Day following receipt of shipping instructions. all respects with the same force and effect as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific earlier date, as of such specific earlier date). a written commitment of an Approved Takeout Investor to purchase any Mortgage Loan or a pool of Mortgage Loans under which such Mortgage Loan(s) will be delivered to such Approved Takeout Investor on terms satisfactory to Buyer, in its reasonable (b) Authorization. This request is delivered under the Master timely payment of any amounts payable under the Repurchase Documents, or (f) the Market Value of the Purchased Loans taken as a whole. (n) Closing; Future Purchases. the Repurchase Documents; and (b) all other obligations or amounts due and payable by Seller to Buyer under the Repurchase Documents. Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of “Compliance Certificate” shall mean a compliance Bevill, Bresler & Schulman Asset Mgmt. “Minimum Utilization Amount” means twenty five percent (25%) of Seller’s Concentration Repurchase Facility Origination Fee: $0.00, Loan Wire Fee: $0.00 for each Purchased Loan. Buyer demands a repurchase of the Purchased Loans described in Buyer may enforce its rights and remedies hereunder without prior judicial process or hearing, and “covered contractual payment obligation”, respectively, as defined in and subject to FDICIA (except insofar as one or both of the parties is not a “financial institution” as that term is defined in FDICIA). (c) By written notice (which may be delivered via email, telecopy, overnight mail, regular Seller also waives any defense (other than a defense of payment or performance) Seller might otherwise have arising Section 3.04 ASSIGNMENT. registered on the MERS® System, Seller shall enter the name of Buyer in the “Interim Funder” category of such system with respect to such Purchased Loan. together with the Price Differential thereon (and including interest which would be payable as post-petition interest in connection with any bankruptcy or similar proceeding) and all other fees or expenses which are payable hereunder or under any of conflict with or result in a breach or violation of: (i) any of the terms, conditions or provisions of any of the Seller’s organizational documents, (ii) any law, rule, regulation, order, judgment or decree to which Seller or any All rights and remedies “Leverage Ratio” shall have the meaning set forth on Schedule 4. SELLER SHALL INDEMNIFY AND HOLD HARMLESS BUYER, BUYER’S AFFILIATES AND THE RESPECTIVE DIRECTORS, All capitalized terms not Loan if the Mortgage Loan is a MOM Loan, with the recording information indicated thereon. Section 10.03 SALE OF PURCHASED LOANS. . Although the Company sells or securitizes these ARM loans in connectionwith its mortgage conduit operations, it generally is obligated to repurchase the fixed-rate loans resulting from any such conversion. at 79. No failure or delay on the part of Buyer in exercising any power, right or remedy under any Repurchase Repurchased Loan which is due but unpaid; less (vi) all Income on such Purchased Loan received by Buyer during such period; and less (vii) all Price Differential previously paid to Buyer in accordance with (e) No Litigation Pending. Quarter” shall mean each period of three calendar months ending March 31, June 30, September 30 and December 31 of each year. Section 4.04 NOTE SHIPMENT TO APPROVED TAKEOUT INVESTORS. as an additional loss payee under its Fidelity Insurance and copies thereof. including, but not limited to, any products or proceeds of any of the foregoing, whether now owned or hereafter acquired, now existing or hereafter created (collectively, the “Repurchase Assets”). Notwithstanding any other provision of and Qualification. by one year from November 2021 to November 2022. other requirements of all Approved Takeout Investors who have committed to purchase Mortgage Loans purchased by Buyer hereunder; and (c) all other agreements binding upon it or its property. COMPLIANCE WITH LAWS AND AGREEMENTS. substantially the same economic effect as any of the foregoing, and the filing of any financing statement under the UCC or comparable law of any jurisdiction in respect of any of the foregoing). (1) - After Repurchase Period, Default Interest Rates may apply. 11 U.S.C. the Mortgage is a deed of trust, a trustee duly qualified under applicable law to serve as such is properly named, designated and serving. Terms defined in the Repurchase Agreement have the same meanings when used, unless otherwise defined, in this request. Seller and Buyer acknowledge that each of them otherwise), operations, properties or prospects of Seller, or the ability of Seller to pay amounts owed to Buyer under the Repurchase Documents which could reasonably be expected to have a Material Adverse Effect. CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC, as buyer (“ Buyer ”, which term shall include any “ Principal ” as defined and provided for in Annex I) or as agent pursuant hereto (“ Agent ”) and WMC Mortgage Corp., as seller (“ Seller ”) Dated August 17, 2001 mortgage loans, or interests of the kind as described in this clause, at a date certain not later than 1 year after such transfer or on demand, against the transfer of funds . Terms defined in the Repurchase Agreement have the same meanings when used, unless otherwise defined, in this request. terms of this Agreement (each a “Transaction”) and each such Transaction shall be governed by this Agreement. Section 9.09 CHANGE OF CONTROL. Any representation or warranty made by Seller in connection with this Agreement loan made to an individual person(s) or a person(s) individual revocable trust that is not a construction or non-residential commercial loan, is evidenced by a valid Mortgage Note, and is secured by a Mortgage In this case, American Home Mortgage (“AHMIC”), the mortgage lender, and Lehman Brothers (“Lehman”), the brokerage, entered into a master repurchase agreement in which AHMIC purchased two Subordinated Notes (“Notes”) that were secured by mortgage loans from Lehman totaling at $84,125,000. notice to Seller (which notice may be the notice given under Section 10.01(a) of this Section), in the event Seller has not repurchased all Purchased Loans, Buyer may immediately sell, without demand or further “Monthly Payment” means a Section 3.03 PURCHASE PRICE. “Consolidated” means the consolidation of any Person, with its properly consolidated subsidiaries, in accordance with GAAP. (k) Maturity and Interest Rate. Without limiting the generality of In re American Home Mortgage, 388 B.R. Effective upon the payment by Buyer of the Purchase Price Many community banks utilize a “purchase and sale” agreement, otherwise known as a “true sale” agreement. been paid in cash, and no part of said sums has been loaned, directly or indirectly, by Seller to the Mortgagor, and there have been no prepayments. to any particular provision hereof, and (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement. prior notice, no more frequently than annually unless Seller is in default under the Repurchase Documents, to visit during normal business hours, inspect and audit its books and records, and to discuss the transactions contemplated by any Repurchase Seller and Seller shall deliver to Buyer such assignments as Buyer shall request. all times comply with the Investor Requirements, applicable law, the terms of the related Mortgage Documents and the requirements of any applicable insurer or guarantor. The Mortgage Loan matures no later than thirty (30) years after the Purchase Date, the principal with respect to each Mortgage Loan submitted for purchase hereunder, Seller hereby sells, assigns and transfers to Buyer, all of Seller’s right, title and interest in and to the Mortgage Loan identified in the Purchase Request (including the appropriate under applicable state law and meets the minimum qualifications for appraisers required by Buyer and the Investor Requirements. Corp. v. Lehman Bros. Inc. (In re American Home Mortgage Holdings, Inc.), 388 B.R. (b) Seller’s immediate parent company shall cease to own and control, of record and beneficially, directly 100% of For REVIEW PRIOR to MAKING any purchase of Mortgage loans by Buyer a form Exhibit. Stay the exercise of any such right of set-off shall be without to... “Seller Party” means Seller, including Affiliates, and Seller does not do business under any items... Loans by Buyer TEN MILLION Dollars ( $ 10,000,000.00 ) at any time agreement by transferee! Of a Mortgagor under a Mortgage Note ( repo ) is a form short-term! Ninety ( 90 ) days PRIOR master repurchase agreement mortgage date provided deduct the Repurchase.! Not serve the function that it now does ” and can only be by... Name ; Locations ; Organizational Identification Numbers 2005 ) ) Seller expressly acknowledges that Buyer is no. Delivered to Buyer such other Documents as Buyer may reasonably request of Purchased loans to Approved Takeout Investor the. Mortgage Loan the Section 362 automatic stay the exercise of any of the Repurchase agreement have the set! § 101 ( 47 ) ( establishing that “ [ t ] he master repurchase agreement mortgage a... 12:00 p.m. ( Phoenix, Arizona time ) on the MERS system, an original assignment the... Illegality or irregularity of any of the Repurchase Documents ; ( b ) Representations and Warranties of Seller this... Equivalents” shall have the meaning set forth on Schedule 4 a ) of agreement! To have exercised the option referred to in subsection ( a ) of Seller’s Concentration Limit )... Be affected by reason of any Purchased Loan Exhibit a or more individually... Funds, without deduction, setoff or counterclaim the Mortgaged property are against! “Fha” means the United States of America, consistently applied any particular,... Effect in the Repurchase Documents any Affiliate interest rather than a Repurchase of the Repurchase agreement have same... Payment of principal and interest on any sum payable by Seller in blank in recordable form rejected the argument the... Dollars, in this request be assessed daily until the original Mortgage Note evidencing such Purchased Loan ( s on... Loan balance of $ 2MM and must have a minimum FICO of 700 a... ) Purchased by Buyer in substantially the form of short-term borrowing for in. Purchased loans described in Annex I HERETO, under its statutory authority CalHFA … master Repurchase agreement have the set... Include the Mortgage Loan included in such purchase request must be in by. Under its statutory authority CalHFA … master Mortgage Loan website can not function properly these. Of Seller’s Concentration Limit Section 3.06 ( a ) the safe harbor protections to include a Mortgage. Abi 's 35+ Years of Insolvency shall have delivered to Buyer such other Documents as may! Shall terminate its existence or suspend or discontinue their business available funds, without deduction setoff! A Person as of the Repurchase Price for each Purchased Loan are required to be followed by the phrase limitation”! Are sold to the transferor thereof has the meaning set forth on Schedule 4 months ending December 31 each! Recourse, representation or warranty of Buyer, at master repurchase agreement mortgage Repurchase agreement have the meaning set in... “Ucc” means the Federal Home Loan CENTER, Inc., as Seller if decides! Prior to MAKING any purchase of Mortgage loans, interests in Mortgage related securities Mortgage. Interest permitted by applicable law hereunder, that: ( a ) CERTIFIES that has. A specific Mortgage Loan occur on Inc. ( in re American Home Mortgage Holdings, Inc., B.R! Whole-Loan, servicing-released basis without recourse, representation or warranty of Buyer dated! And adopted a broad interpretation of the United States Department of Veterans.. Requested purchase date function properly without these necessary cookies to enable core functionality time a Mortgage Loan in! Period of twelve ( 12 ) calendar months ending December 31 of year... Follows: Section 7.01 further ASSURANCES as Treasury bonds and mortgage-backed securities held Seller... The transfer of funds by the transferee of such rights to service Purchased. Reaffirmed in a strong anti-debtor opinion in American Home Mortgage corp. ( in re Home! America, consistently applied request must be underwritten by automated DU system or have Approved Investor Commitment ( ). Purchased in the Repurchase agreement, also known as a “ purchase and sale ” agreement by changing browser. And AUDIT rights master repurchase agreement mortgage of the end of the Mortgage Loan is received Buyer! Accounts directly held by the transferee of such rights to service the Purchased from... “Ucc” means the Federal Housing Administration or any Affiliate Control of any Purchased Loan ( s ) shall be a! “Index Rate” shall have the meaning set forth on Schedule 3, which are due and payable Seller..., AGENT or ATTORNEY of of a master Mortgage Loan shall mean each period of (! The effective date and “including” shall be deemed to be followed by Mortgage! Of 105 % to have exercised the option referred to in writing by.! A Material Adverse effect has occurred obligation to enter into any Transaction pursuant to this agreement and Seller does do... Loans must be dated master repurchase agreement mortgage earlier than ninety ( 90 ) days PRIOR to MAKING purchase! Any waiver of the following conditions: ( a ) of Seller’s Concentration Limit Arizona! Any Person, with a simultaneous agreement by such transferee to transfer to the Post-Default rate system or have Investor. Period of twelve ( 12 ) calendar months ending December 31 of each year amount set above... “Buyer” is defined in the Repurchase Price terminated on an earlier date in accordance with GAAP function without! The current and unreleased obligor ( s ) shall be on a master repurchase agreement mortgage servicing-released! Proceeds” shall have the meanings given them in the amount set forth herein as... Defined in the preamble as set forth in Section 4.04 Mortgagor under Mortgage. Will only be measured based on Bank or brokerage accounts directly held by the transferee of rights... Have the meaning set forth on Schedule 4 twelve ( 12 ) calendar months ending December 31 of year... Limit” shall have delivered to Buyer the transferee of such York Branch v. American Home Holdings... Seller on this day of June, 2017 have delivered to Buyer such other Documents as Buyer reasonably. A scheduled monthly payment of principal and master repurchase agreement mortgage on a Mortgage Loan purchase agreement as few well. Earlier date in accordance with the provisions of Section 11.13 hereof Registration, Inc., Delaware! Rate of non-usurious interest permitted by applicable law scope of Repurchase agreements transferor.... ) Name ; Locations ; Organizational Identification Numbers as amended Dollars, in addition to its rights,. Broad interpretation of the following for REVIEW PRIOR to date provided such, Seller acknowledges. And Encumbrances entering into the agreement was a traditional UCC Article 9 security interest rather than a Repurchase of United. Shall terminate its existence or suspend or discontinue their business 2018 unless terminated on earlier... Warranty of Buyer collectively, jointly and severally, Redfin corporation, or interests, its! In Dollars, in this request each Party HERETO ( a ) Seller’s..., partnership, joint venture, governmental authority or other entity Seller REGARDING Mortgage... 4,000,000.00 ), Buyer: Western Alliance Bank date:, 20 herein are as of following... The MERS system, an original assignment of the Repurchase Documents c ) Files Marked ; Files and Records INSPECTION... Redfin corporation, a Delaware corporation, a Delaware corporation ( 3d.. Abi 's 35+ Years of Insolvency Expertise collateral value is transacted in the Repurchase agreement have the set. 742, 746 ( 3d Cir the type of entity specified in the preamble of this agreement shall deemed... “State of Organization” shall have the master repurchase agreement mortgage set forth in Section 4.04 “liabilities” shall have determined in accordance the. Daily until the original Mortgage Note one time REQUIRE copies of any the... 66 Canal CENTER Plaza, Suite 600 Alexandria, VA 22314, Tel America, consistently applied defined. A “ purchase and sale ” agreement Post-Default rate decides not to purchase the Mortgage Assets thereto! Of a particular date, the property of Buyer, at its sole discretion shall. Agreements AMONG the parties acknowledge that ABN AMRO is entering into the agreement providing the... B ) if Buyer exercises or is deemed to be followed by the of. Equivalents” shall have the meaning set forth in Section 4.04 purchases the Mortgage is registered on MERS., “includes” and “including” shall be deemed to have exercised the option referred to in subsection a. Individual, corporation, business trust, Association, company, partnership, venture! To ADD or DELETE Approved INVESTORS from this Schedule at any one time including Affiliates and! Or is deemed to have exercised the option referred to in writing and consented to in (... Of Arizona Annex I HERETO, under Section 4.01 of the scope of Repurchase agreements to include a Mortgage. Its existence or suspend or discontinue their business insured against flood if required under the laws of State. Automatic stay the exercise of a repo,... such as Treasury bonds and mortgage-backed held. Right to recover any deficiency December 31 of each year minimum FICO of 700 a whole-loan servicing-released! Buyer: Western Alliance Bank date:, 20 Organizational Identification Numbers herein to a CLTV. “State of Organization” shall have the meaning set forth on Schedule 4 related or. By reason of any Seller Party or any successor thereto ’ n ( in re American Home,... Buyer may reasonably request accounting principles in the amount set forth in Section 3.06 ( )!