Idaho Sample Mortgage Loan Purchase Agreement between Credit Suisse First Boston Mortgage Securities Corp. and Credit Suisse First Boston Mortgage Capital, LLC 1. Introduction The Idaho Sample Mortgage Loan Purchase Agreement is a legally binding contract governing the purchase and sale of mortgage loans between Credit Suisse First Boston Mortgage Securities Corp. (CFB Mortgage Securities) and Credit Suisse First Boston Mortgage Capital, LLC (CFB Mortgage Capital) in Idaho. This agreement sets out the terms and conditions under which CFB Mortgage Securities purchases mortgage loans originated or acquired by CFB Mortgage Capital. 2. Definitions This agreement begins by providing clear definitions of the key terms used throughout the document. Identifying terms such as "Mortgage Loan," "Seller," and "Purchase Price" ensures clarity and consistency in the agreement. 3. Purchase and Sale of Mortgage Loans This section outlines the specific details of the mortgage loans being sold by CFB Mortgage Capital to CFB Mortgage Securities. It includes information regarding the loan amount, loan number, closing date, and other relevant loan details. This section may also specify whether the loans are fixed-rate or adjustable-rate mortgages. 4. Representations and Warranties CFB Mortgage Capital represents and warrants that the mortgage loans it sells to CFB Mortgage Securities comply with all applicable laws and regulations. It further guarantees that the loans are free from any liens, claims, or encumbrances. This section provides protections for CFB Mortgage Securities against any potential legal or financial issues arising from the mortgage loans purchased. 5. Conditions Precedent to Closing Before the purchase and sale can be finalized, certain conditions must be satisfied by both parties. This section outlines those conditions, which may include obtaining necessary approvals, completion of due diligence, and provision of required documents. 6. Purchase Price and Payment The purchase price for the mortgage loans is determined based on an agreed-upon formula. This section defines the calculation method and details the payment terms. It may specify whether the payment will be made in cash or any other agreed-upon method. 7. Indemnification and Remedies This section establishes the responsibilities of each party in case of default, breach of contract, or any other violations. It defines the indemnification obligations, including reimbursement for losses, damages, or costs incurred. Additionally, it may outline the available remedies to resolve any disputes arising under this agreement. Types of Idaho Sample Mortgage Loan Purchase Agreements: 1. Fixed-rate Mortgage Loan Purchase Agreement: This type of agreement pertains specifically to fixed-rate mortgage loans. 2. Adjustable-rate Mortgage Loan Purchase Agreement: This type of agreement pertains specifically to adjustable-rate mortgage loans. 3. Commercial Mortgage Loan Purchase Agreement: This type of agreement covers the purchase and sale of commercial mortgage loans. 4. Residential Mortgage Loan Purchase Agreement: This type of agreement relates to the purchase and sale of residential mortgage loans. Note: The actual sample mortgage loan purchase agreement templates should be obtained from legal or professional sources to ensure accuracy and compliance with applicable laws and regulations.
Idaho Sample Mortgage Loan Purchase Agreement between Credit Suisse First Boston Mortgage Securities Corp. and Credit Suisse First Boston Mortgage Capital, LLC
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How to fill out Idaho Sample Mortgage Loan Purchase Agreement Between Credit Suisse First Boston Mortgage Securities Corp. And Credit Suisse First Boston Mortgage Capital, LLC?
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