Common use of Seller Request; Agent Confirmation Clause in Contracts

Seller Request; Agent Confirmation. (1) Any request to enter into a Transaction shall be made by notice to the Agent at the initiation of the Seller. To request a Transaction, the Seller shall provide the Agent and Custodian with a Mortgage Loan Transmission File for each of the Eligible Loans subject to the Transaction by electronic transmission. (2) With respect to any eMortgage Loan, Seller shall cause (i) the Authoritative Copy of the related eNote to be a Transferable Record and held in the eVault as a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Agent by the Controller Status Transfer Deadline, (iii) the Delegatee status of the related eNote to be transferred to the Custodian by the Controller Status Transfer Deadline, in each case on the MERS eRegistry, (iv) the Location status of the related eNote to be transferred to the Custodian’s eVault, and (v) the Servicing Agent status of the related eNote to remain blank (collectively, the “eNote Delivery Requirements”). In addition, all Basic Papers that are Electronic Records must be delivered to the Agent electronically, and all other Basic Papers must be delivered as otherwise required by this Agreement. (b) Seller shall deliver a Request/Confirmation substantially in the form of Exhibit A to the Agent no later than 4:00 p.m. on the day Seller submits each Mortgage Loan Transmission File. (c) Provided that the conditions set forth in this Section 3 and Section 14 have been satisfied or waived by the Agent with the requisite consent of the Buyers, the Agent shall transfer the sum of the Purchase Prices for each Transaction to the Funding Account and disburse the sum of the Purchase Prices for the Transaction to the Seller or its designee(s) for their account. Any Transaction for which the Mortgage Loan Transmission File is received prior to 3:00 p.m. on a Business Day shall be funded on the same Business Day; any Transaction for which the Mortgage Loan Transmission File is received after 3:00 p.m. shall be funded on the next Business Day. (d) Notwithstanding anything to the contrary in this Agreement, the Custody Agreement, or any of the exhibits and schedules hereto or thereto, in no event shall funds for the purchase of any Mortgage Loan be disbursed directly to the Seller; rather, (i) funds for the purchase of Mortgage Loans originated by any Seller shall be disbursed to the applicable title agent or attorney through which such Mortgage Loans are closed and (ii) funds for the purchase of Mortgage Loans originated by a correspondent lender or other third party shall be disbursed only to such originator and only if the Basic Papers delivered to the Custodian were accompanied by a bailee letter from the originator that included wire transfer instructions; provided, however, that Margin Excess may be remitted directly to the Seller in accordance with Section 6.1(b). (e) If the Seller submits a Mortgage Loan Transmission File to the Agent and the Custodian and with respect to any eMortgage Loan, and does not transfer the Location of the corresponding eNote to the Custodian’s eVault and Controller status of the eNote to the Agent as required under Section 3(a)(2) on or before the Controller Status Transfer Deadline, (i) the Buyers shall have no obligation to fund such Transaction, and (ii) such eMortgage Loan shall have zero Purchase Value.

Seller Request; Agent Confirmation. (1a) Any request to enter into a Transaction shall be made by notice to the Agent at the initiation of the Seller. To request a Transaction, the Seller shall provide deliver to the Agent and the Custodian with a the Mortgage Loan Transmission File for each of the Eligible Loans subject to the Transaction by electronic transmission. (2) With respect to any eMortgage Loan, Seller shall cause (i) the Authoritative Copy of the related eNote to be a Transferable Record and held in the eVault as a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Agent by the Controller Status Transfer Deadline, (iii) the Delegatee status of the related eNote to be transferred to the Custodian by the Controller Status Transfer Deadline, in each case on the MERS eRegistry, (iv) the Location status of the related eNote to be transferred to the Custodian’s eVault, and (v) the Servicing Agent status of the related eNote to remain blank (collectively, the “eNote Delivery Requirements”). In addition, all Basic Papers that are Electronic Records must be delivered to the Agent electronically, and all other Basic Papers must be delivered as otherwise required by this Agreement. (b) Seller shall deliver a Request/Confirmation substantially in the form of Exhibit A to the Agent no later less than 4:00 p.m. on the day Seller submits each Mortgage Loan Transmission Fileonce per week. (c) Provided that the conditions set forth in this Section 3 and Section 14 14.2 have been satisfied or waived by the Agent with the requisite consent of the Buyers, the Agent shall transfer the sum of the Purchase Prices for each Transaction to the Funding Account and disburse the sum of the Purchase Prices for the Transaction to the Seller or its designee(s) for their account. Any Transaction for which the Mortgage Loan Transmission File is received prior to 3:00 1:30 p.m. on a Business Day (or such later time as the Agent may agree in its discretion) shall be funded on the same Business Day; any Transaction for which the Mortgage Loan Transmission File is received after 3:00 1:30 p.m. shall be funded on the next Business Day (unless the Agent agrees in its discretion to fund on the same Business Day). (d) Notwithstanding anything to the contrary in this Agreement, the Custody Agreement, or any of the exhibits and schedules hereto or thereto, in no event shall funds for the purchase of any Mortgage Loan be disbursed directly to the Seller; rather, (i) funds for the purchase of Mortgage Loans originated by any the Seller shall be disbursed to the applicable title agent or attorney through which such Mortgage Loans are closed and (ii) funds for the purchase of Mortgage Loans originated by a correspondent lender or other third party shall be disbursed only to such originator and only if the Basic Papers delivered to the Custodian were accompanied by a bailee letter from the originator that included wire transfer instructions; provided, however, that Margin Excess may be remitted directly to the Seller in accordance with Section 6.1(b). (e) If the Seller submits a Mortgage Loan Transmission File to the Agent and the Custodian and with respect to any eMortgage Loan, and does not transfer the Location of the corresponding eNote to the Custodian’s eVault and Controller status of the eNote to the Agent as required under Section 3(a)(2) on or before the Controller Status Transfer Deadline, (i) the Buyers shall have no obligation to fund such Transaction, and (ii) such eMortgage Loan shall have zero Purchase Value.

Seller Request; Agent Confirmation. (1a) Any request to enter into a Transaction shall be made by notice to the Agent at the initiation of the Seller. To request a Transaction, the Seller shall provide deliver to the Agent and the Custodian with a the Mortgage Loan Transmission File for each of the Eligible Loans subject to the Transaction by electronic transmission. (2) With respect to any eMortgage Loan, Seller shall cause (i) the Authoritative Copy of the related eNote to be a Transferable Record and held in the eVault as a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Agent by the Controller Status Transfer Deadline, (iii) the Delegatee status of the related eNote to be transferred to the Custodian by the Controller Status Transfer Deadline, in each case on the MERS eRegistry, (iv) the Location status of the related eNote to be transferred to the Custodian’s eVault, and (v) the Servicing Agent status of the related eNote to remain blank (collectively, the “eNote Delivery Requirements”). In addition, all Basic Papers that are Electronic Records must be delivered to the Agent electronically, and all other Basic Papers must be delivered as otherwise required by this Agreement. (b) Seller shall deliver a Request/Confirmation substantially in the form of Exhibit A to the Agent no later than 4:00 5:00 p.m. on the day Seller submits each Mortgage Loan Transmission File. (c) Provided that the conditions set forth in this Section 3 and Section 14 14.2 have been satisfied or waived by the Agent with the requisite consent of the Buyers, the Agent shall transfer the sum of the Purchase Prices for each Transaction to the Funding Account and disburse the sum of the Purchase Prices for the Transaction to the Seller or its designee(s) for their account. Any Transaction for which the Mortgage Loan Transmission File is received prior to 3:00 1:30 p.m. on a Business Day (or such later time as the Agent may agree in its discretion) shall be funded on the same Business Day; any Transaction for which the Mortgage Loan Transmission File is received after 3:00 1:30 p.m. shall be funded on the next Business Day (unless the Agent agrees in its discretion to fund on the same Business Day). (d) Notwithstanding anything to the contrary in this Agreement, the Custody Agreement, or any of the exhibits and schedules hereto or thereto, in no event shall funds for the purchase of any Mortgage Loan be disbursed directly to the Seller; rather, (i) funds for the purchase of Mortgage Loans originated by any the Seller shall be disbursed to the applicable title agent or attorney through which such Mortgage Loans are closed and (ii) funds for the purchase of Mortgage Loans originated by a correspondent lender or other third party shall be disbursed only to such originator and only if the Basic Papers delivered to the Custodian were accompanied by a bailee letter from the originator that included wire transfer instructions; provided, however, that Margin Excess may be remitted directly to the Seller in accordance with Section 6.1(b). (e) If the Seller submits a Mortgage Loan Transmission File to the Agent and the Custodian and with respect to any eMortgage Loan, and does not transfer the Location of the corresponding eNote to the Custodian’s eVault and Controller status of the eNote to the Agent as required under Section 3(a)(2) on or before the Controller Status Transfer Deadline, (i) the Buyers shall have no obligation to fund such Transaction, and (ii) such eMortgage Loan shall have zero Purchase Value.

Seller Request; Agent Confirmation. (1a) Any request to enter into a Transaction shall be made by notice to the Agent at the initiation of the Seller. To request a Transaction, the Seller shall provide deliver to the Agent and the Custodian with a the Mortgage Loan Transmission File for each of the Eligible Loans subject to the Transaction by electronic transmission. . The Seller shall submit no more than four (24) With respect to Mortgage Transmission Files on any eMortgage LoanBusiness Day; provided, however, that during the last five (5) Business Days of each calendar month, Seller shall cause (i) may submit additional Mortgage Transmission Files with prior approval from the Authoritative Copy of the related eNote to be a Transferable Record and held in the eVault as a secure electronic file, (ii) the Controller status of the related eNote to be transferred to Agent by the Controller Status Transfer Deadline, (iii) the Delegatee status of the related eNote to be transferred to the Custodian by the Controller Status Transfer Deadline, in each case on the MERS eRegistry, (iv) the Location status of the related eNote to be transferred to the Custodian’s eVault, and (v) the Servicing Agent status of the related eNote to remain blank (collectively, the “eNote Delivery Requirements”). In addition, all Basic Papers that are Electronic Records must be delivered to the Agent electronically, and all other Basic Papers must be delivered as otherwise required by this Agreement.Agent (b) Seller shall deliver a Request/Confirmation substantially in the form of Exhibit A to the Agent no later than 4:00 p.m. on the day Seller submits each Mortgage Loan Transmission File. (c) Provided that the conditions set forth in this Section 3 and Section 14 have been satisfied or waived by the Agent with the requisite consent of the Buyers, the Agent shall transfer the sum of the Purchase Prices for each Transaction to the Funding Account and disburse the sum of the Purchase Prices for the Transaction to the Seller or its designee(s) for their account. Any Transaction for which the Mortgage Loan Transmission File is received prior to 3:00 p.m. on a Business Day shall be funded on the same Business Day; any Transaction for which the Mortgage Loan Transmission File is received after 3:00 p.m. shall be funded on the next Business Day. (d) Notwithstanding anything to the contrary in this Agreement, the Custody Agreement, or any of the exhibits and schedules hereto or thereto, in no event shall funds for the purchase of any Mortgage Loan be disbursed directly to the Seller; rather, (i) funds for the purchase of Mortgage Loans originated by any Seller shall be disbursed to the applicable title agent or attorney through which such Mortgage Loans are closed and (ii) funds for the purchase of Mortgage Loans originated by a correspondent lender or other third party shall be disbursed only to such originator and only if the Basic Papers delivered to the Custodian were accompanied by a bailee letter from the originator that included wire transfer instructions; provided, however, that Margin Excess may be remitted directly to the Seller in accordance with Section 6.1(b). (e) If the Seller submits a Mortgage Loan Transmission File to the Agent and the Custodian and with respect to any eMortgage Loan, and does not transfer the Location of the corresponding eNote to the Custodian’s eVault and Controller status of the eNote to the Agent as required under Section 3(a)(2) on or before the Controller Status Transfer Deadline, (i) the Buyers shall have no obligation to fund such Transaction, and (ii) such eMortgage Loan shall have zero Purchase Value.