The Massachusetts Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage pertains to the purchase of subsequent mortgage loans in the state of Massachusetts. This agreement outlines the terms and conditions under which Ameriquest Mortgage, a leading mortgage lender, agrees to purchase these loans from a seller. Keywords: Massachusetts, Sample Subsequent Mortgage Loan Purchase Agreement, Ameriquest Mortgage, purchase, subsequent mortgage loans, terms and conditions, seller. In Massachusetts, the mortgage industry is highly regulated, and lenders must adhere to strict guidelines when purchasing mortgage loans. The Sample Subsequent Mortgage Loan Purchase Agreement provides a comprehensive framework to ensure compliance with state laws and protect the rights of both the buyer (Ameriquest Mortgage) and the seller. This agreement defines the terms under which Ameriquest Mortgage will purchase subsequent mortgage loans from the seller in Massachusetts. It includes various clauses and provisions that encompass the following key aspects: 1. Parties Involved: The agreement clearly identifies the buyer (Ameriquest Mortgage) and the seller, providing their legal names and contact information. This ensures that the agreement is legally binding and enforceable. 2. Loan Specifications: The agreement outlines the specific criteria that subsequent mortgage loans must meet to be eligible for purchase. This includes details such as loan type (fixed-rate, adjustable-rate, etc.), loan amount, interest rate, and loan-to-value ratio. 3. Purchase Price and Funding: The agreement specifies the purchase price of the subsequent mortgage loans and establishes how the funds will be transferred from Ameriquest Mortgage to the seller. It may include information on the payment method, timelines, and any applicable fees. 4. Representations and Warranties: This section of the agreement highlights the seller's legal obligations and responsibilities. It ensures that the seller has provided accurate and complete information regarding the subsequent mortgage loans and that they comply with all relevant laws and regulations. 5. Indemnification: The Sample Subsequent Mortgage Loan Purchase Agreement includes provisions related to indemnification, meaning that both parties agree to compensate each other in case of breach of contract or any losses resulting from non-compliance with the terms stated in the agreement. 6. Governing Law and Jurisdiction: As this agreement is specific to Massachusetts, it states that the laws of the state will govern the interpretation and enforcement of the agreement. It also determines the jurisdiction where any potential disputes will be resolved. Types of Massachusetts Sample Subsequent Mortgage Loan Purchase Agreements of Ameriquest Mortgage: — Fixed-rate subsequent mortgage loan purchase agreement — Adjustable-rate subsequent mortgage loan purchase agreement — Conventional subsequent mortgage loan purchase agreement — Government-backed subsequent mortgage loan purchase agreement.
Massachusetts Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage
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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.
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.
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.
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.
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.