Common use of Control of Documents Clause in Contracts

Control of Documents. Until a Loan is fully satisfied, Mortgage Broker/Correspondent shall maintain possession and control of all documents relating to any Application Package and/or Loan, including but not limited to all information that may be relied upon to determine a Borrower’s ability to repay such as credit, income and deposit verification information and underwriting information.

Appears in 2 contracts

Sources: Mortgage Broker/Correspondent Agreement, Mortgage Broker/Correspondent Agreement