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Common use of Assumability Clause in Contracts

Assumability. No Mortgage Loan is assumable, except as permitted under Approved Underwriting Guidelines.

Appears in 3 contracts

Sources: Master Repurchase Agreement (Rocket Companies, Inc.), Master Repurchase Agreement (Rocket Companies, Inc.), Master Repurchase Agreement (Rocket Companies, Inc.)

Related Clauses

  • Survivability
  • Special Risks or Circumstances
  • Nonassignability
  • Power, Authorization and Enforceability
  • Power, Authority and Enforceability

Parent Clauses

  • Representations and Warranties Regarding Individual Mortgage Loans
  • Representations Warranties and Covenants of the Seller Remedies for Breach
  • Credit Reporting; Gramm-Leach-Bliley Act
  • Waiver of Jury Trial
  • Representations Warranties and Covenants Remedies for Breach

Sub-Clauses

  • Miscellaneous
  • Expenses and Attorneys’ Fees
  • Amendments and Waivers
  • Limitations on Recourse
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