Common use of Audits and Inquiries Clause in Contracts

Audits and Inquiries. Paragraph 3.17(n) of the Sellers Disclosure Schedule contains a true and correct list of all of the audits, investigations, complaints and inquiries of the Company and each of its Subsidiaries by an Agency, a Governmental Entity, an Investor, or a private mortgage insurer commenced since January 1, 2000, Except for customary ongoing quality control reviews and except as disclosed in Paragraph 3.17(n) of the Sellers Disclosure Schedule, no audit or investigation is pending or, to the knowledge of the Sellers or the Company, threatened that could result in (i) a claim of a material failure to comply with applicable regulations, (ii) a repurchase of Mortgage Loans by the Company or any of its Subsidiaries, (iii) indemnification by the Company or any of its Subsidiaries in connection with Mortgage Loans, (iv) rescission of any insurance or guaranty contract or agreement, (v) payment of a penalty to any Agency, an Investor or a private mortgage insurer; or (vi) revocation of any license or authority, including authority to do business. The Sellers have made available to the Purchaser true, complete and correct copies of all written reports and materials received in connection with such audits, investigations, complaints and inquiries.