Common use of Quality Control Procedures Clause in Contracts

Quality Control Procedures. The Company must have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of evaluating and monitoring the overall quality of its loan production and servicing activities. The program is to ensure that the Mortgage Loans are originated and serviced in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.

Appears in 22 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-1), Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards.

Appears in 8 contracts

Sources: Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-3 Trust), Master Seller's Warranties and Servicing Agreement (Banc of America Funding Corp), Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-2 Trust)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company’s loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards.

Appears in 6 contracts

Sources: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Master Seller’s Warranties and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards. The Company shall make available upon request of any Purchaser information regarding its quality control program.

Appears in 4 contracts

Sources: Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-6), Flow Sale and Servicing Agreement (Lares Asset Securitization, Inc.), Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2007-1)

Quality Control Procedures. The Company must have an internal quality control program that verifies, on a regular basis, verifies the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of evaluating and monitoring the overall quality of its loan production and servicing activities. The program is to ensure that the Mortgage Loans are originated and serviced in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.

Appears in 2 contracts

Sources: Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Asset Securitization Trust 2006-2), Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Alternative Loan Trust 2006-3)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Servicer in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards.

Appears in 1 contract

Sources: Flow Sale and Servicing Agreement (Asset Backed Funding Corp)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards. The Company shall make available upon request of the Purchaser information regarding its quality control program.

Appears in 1 contract

Sources: Flow Sale and Servicing Agreement (Banc of America Funding 2006-D Trust)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its loan production the Company's underwriting, originating, administering and servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards. The Company shall make available upon the reasonable request of the Purchaser information regarding its quality control program.

Appears in 1 contract

Sources: Flow Sale and Interim Servicing Agreement (ABFC 2006-He1 Trust)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.with

Appears in 1 contract

Sources: Mortgage Loan Flow Purchase, Sale and Servicing Agreement (SunTrust Real Estate Trust, LLC)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activitiesactivities of the Company. The program is to ensure that Company shall make available upon request of the Mortgage Loans are originated and serviced in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsPurchaser information regarding its quality control program.

Appears in 1 contract

Sources: Mortgage Loan Sale and Servicing Agreement (Banc of America Funding 2006-H Trust)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company’s loan production and the servicing activities. The program is to ensure that activities of the Mortgage Loans are originated and serviced Company in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized personsindustry standards. The Company shall make available upon request of the Purchaser information regarding its quality control program.

Appears in 1 contract

Sources: Sale and Servicing Agreement (FBR Securitization, Inc.)

Quality Control Procedures. The Company must shall have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisions. The program must be capable of shall include evaluating and monitoring the overall quality of its the Company's loan production and the servicing activitiesactivities of the Company. The program is to ensure that the Mortgage Loans are originated and serviced in accordance with prudent mortgage banking practices Accepted Servicing Standards and accounting principlesthe Underwriting Guidelines; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2003-He2)

Quality Control Procedures. The Company must have an internal quality control program that verifies, on a regular basis, the existence and accuracy of the legal documents, credit documents, property appraisals, and underwriting decisionsdecisions with respect to the Mortgage Loans. The program must be capable of evaluating and monitoring the overall quality of its loan production and servicing activities. The program is to ensure that the Mortgage Loans are originated and serviced in accordance with prudent mortgage banking practices and accounting principles; guard against dishonest, fraudulent, or negligent acts; and guard against errors and omissions by officers, employees, or other authorized persons.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-St1)