Statement Made Clause Samples
Statement Made. No representation, warranty or written statement made by Broker in the application to Lender to become eligible to submit Loan Submissions, this Agreement, or in any report, written statement or certificate furnished to Lender in connection with the transactions contemplated hereby by Broker, including, without limitation, in a Loan Submission, contains, or will contain, any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading. The information contained in the application of Broker to Lender for approval to submit Loan Submissions continues to be true, accurate and complete, except as otherwise disclosed in writing to Lender. Lender has a ZERO Tolerance for any type of fraud and Lender will report and prosecute, as applicable. Fraudulent loans cannot be sold into the secondary market, and if sold, will require repurchase by the Broker. THE SUBMISSION OF A LOAN APPLICATION CONTAINING FALSE INFORMATION IS A CRIME!!
1. Submission of inaccurate information, including false statements on loan application(s) and falsification of documents, purporting to substantiate credit, employment, deposit and asset information, personal information including identity, ownership / non-ownership of realproperty.
2. Forgery of partially or predominately accurate information.
3. Forgery of borrower’s signatures or e-signature on any disclosures or documents.
4. Lack of due diligence by Broker / Loan Originator / processor, including failure to obtain all information required by the application and failure to request further information as dictated by borrower’s response to questions.
5. Unquestioned acceptance of information or documentation which is known, should be known, or should be suspected to be inaccurate.
6. Allowing an applicant or interested third-party to “assist with the processing of the loan”.
7. Broker’s processors non-disclosure of relevant information.
Statement Made. No representation, warranty or written statement made by Purchaser in the Operative Documents contains any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading in any material respect.
Statement Made. No representation, warranty or written statement made by Seller in this Agreement, or in any schedule or exhibit to this Agreement furnished to MLCC by Seller, contains, or will contain, any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading.
Statement Made. No representation, warranty or written statement made by Broker in the application to Lender to become eligible to submit Loan Submissions, this Agreement, or in any report, written statement or certificate furnished to Lender in connection with the transactions contemplated hereby by Broker, including, without limitation, in a Loan Submission, contains, or will contain, any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading. The information contained in the application of Broker to Lender for approval to submit Loan Submissions continues to be true, accurate and complete, except as otherwise disclosed in writing to Lender. Lender has a ZERO Tolerance for any type of fraud and Lender will report and prosecute, as applicable. Fraudulent loans cannot be sold into the secondary market, and if sold, will require repurchase by the Broker.
Statement Made. No representation, warranty or written statement made by Seller in this Agreement, or in any schedule, exhibit, report, written statement or certificate furnished to Purchaser by Seller in connection with the transactions contemplated hereby by Seller, contains, or will contain, any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading.
Statement Made. No representation, warranty or written statement made by Seller in connection with this Agreement or in any schedule, exhibit, report, Mortgage File, written statement or certificate furnished to Purchaser in connection with the transactions contemplated hereby by Seller, contains, or will contain, any untrue statement of a material fact or omits, or will omit, to state a material fact necessary to make the statements contained herein or therein not misleading. The information contained in the application of Seller to Purchaser for approval to sell Loans continues to be true, accurate and complete, except as otherwise disclosed in writing to Purchaser.