Title: Alabama Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage: Explained with Relevant Keywords Introduction: The Alabama Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is a legal document that governs the purchase of subsequent mortgage loans on residential properties located in Alabama. This agreement outlines the terms and conditions under which Ameriquest Mortgage, a lending institution, acquires the mortgage loans originated by other lenders. Keywords: Alabama, Sample, Subsequent Mortgage Loan Purchase Agreement, Ameriquest Mortgage, legal document, residential properties, terms and conditions, lending institution, mortgage loans, lenders. Types of Alabama Sample Subsequent Mortgage Loan Purchase Agreements by Ameriquest Mortgage: 1. Alabama Sample Subsequent Mortgage Loan Purchase Agreement — Residential Properties: This type of agreement specifically focuses on the purchase of subsequent mortgage loans on residential properties within the state of Alabama. It addresses the unique legal requirements and considerations related to residential mortgage transactions in Alabama. Keywords: Residential properties, Alabama, subsequent mortgage loans, legal requirements, residential mortgage transactions. 2. Alabama Sample Subsequent Mortgage Loan Purchase Agreement — Commercial Properties: Ameriquest Mortgage may also enter into subsequent mortgage loan purchase agreements specifically designed for commercial properties in Alabama. This variation of the agreement aligns with the distinctive regulatory framework and transactional aspects of commercial mortgage lending within the state. Keywords: Commercial properties, Alabama, subsequent mortgage loans, regulatory framework, commercial mortgage lending. Key Components of Alabama Sample Subsequent Mortgage Loan Purchase Agreement: 1. Parties Involved: The agreement identifies the parties involved, including Ameriquest Mortgage, the lending institution purchasing the mortgage loans, and the originating lenders who are selling the loans. Keywords: Ameriquest Mortgage, lending institution, originating lenders, parties involved. 2. Loan Details and Purchase Price: The agreement clearly defines the mortgage loan details, including the principal amount, interest rate, term, and any associated fees. It also specifies the purchase price Ameriquest Mortgage is willing to pay for the mortgage loans. Keywords: Loan details, purchase price, mortgage loans, principal amount, interest rate, term, fees. 3. Terms and Conditions: This crucial section outlines the terms and conditions under which the subsequent mortgage loans will be purchased. It covers aspects such as representations and warranties, delivery requirements, financial adjustments, indemnification, and remedies for breach of the agreement. Keywords: Terms and conditions, subsequent mortgage loans, representations and warranties, delivery requirements, financial adjustments, indemnification, breach of agreement. 4. Governing Law and Jurisdiction: The agreement specifies that it is subject to the laws of the state of Alabama. Furthermore, it identifies the jurisdiction where any disputes arising from the agreement will be resolved, usually a specific county or federal court. Keywords: Governing law, jurisdiction, state of Alabama, disputes, resolution. Conclusion: The Alabama Sample Subsequent Mortgage Loan Purchase Agreement issued by Ameriquest Mortgage facilitates the transfer and purchase of subsequent mortgage loans on residential or commercial properties in Alabama. It governs the relationship between the lending institution and originating lenders, outlining the terms, conditions, and legal aspects involved in the purchase of these loans. Keywords: Agreement, transfer, purchase, subsequent mortgage loans, residential properties, commercial properties, lending institution, originating lenders.
Alabama Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage
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How to fill out Alabama Sample Subsequent Mortgage Loan Purchase Agreement Of Ameriquest Mortgage?
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A loan purchase agreement is an agreement between a lender and borrower that states how a secured financial asset, such as real estate or equipment, will be purchased. The buyer of this type of security agrees to buy the asset at some point for an agreed-upon price.
On September 9, 2007, Argent Mortgage was sold to Citi for an undisclosed amount. Argent was renamed Citi Residential Lending. Citi Residential Lending operated for several months before it was shut down. On September 10, 2007, Ameriquest stopped accepting loan applications.
The "lender" is the financial institution that loaned you the money. The lender owns the loan and is also called the "note holder" or "holder." Sometime later, the lender might sell the mortgage debt to another entity, which then becomes the new loan owner (holder).
On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.
Employer Identification No.) 1100 TOWN & COUNTRY ROAD, SUITE 1100 ORANGE, CALIFORNIA 92868 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (714) 541-9960 Item 5.
Since we don't need documents up front, we can typically have your preapproval letter ready within minutes, sometimes instantly, after you submit your application. Though a preapproval provides an estimate of how much you can borrow, it's not a commitment to lend.
The sum of all financing prices the lender prices a borrower in change for granting the mortgage is the Total finance prices. A finance rate is the overall amount of cash a purchaser will pay for borrowing money. This can consist of credit score on a automobile mortgage, a credit score card, or a mortgage.
Status: CLOSED. Long Beach was closed by Washington Mutual in 2007. History: Originally a California-based savings and loan, founded in 1979, Long Beach Bank became a federally chartered thrift institution in 1990. In October 1994, it became Long Beach Mortgage Co.