Rhode Island Sample Mortgage Loan Purchase Agreement between Credit Suisse First Boston Mortgage Securities Corp. and Credit Suisse First Boston Mortgage Capital, LLC

• Category: Corporations - Public - Loans
• State: Multi-State
• Control #: US-EG-9375
• Format: Word; Rich Text

Description

Mortgage Loan Purchase Agreement between Credit Suisse First Boston Mortgage Securities Corporation and Credit Suisse First Boston Mortgage Capital, LLC dated October 11, 1999. 17 pages. Rhode Island Sample Mortgage Loan Purchase Agreement: A Mortgage Loan Purchase Agreement is a legally binding agreement between the Credit Suisse First Boston Mortgage Securities Corp. (CFB MSC) and Credit Suisse First Boston Mortgage Capital, LLC (CFB MCC) for the purchase of mortgage loans in the state of Rhode Island. This agreement outlines the terms and conditions of the purchase, transfer, and delivery of the mortgage loans. The Rhode Island Sample Mortgage Loan Purchase Agreement includes the following key provisions: 1. Parties involved: The agreement specifies the names and details of the parties involved, i.e., CFB MSC as the purchaser and CFB MCC as the seller. 2. Mortgage loan details: It outlines the specific details of the mortgage loans being purchased, including loan numbers, borrowers' names, property addresses, loan amounts, interest rates, and other relevant loan parameters. 3. Reps and warranties: This section covers the representations and warranties made by the seller regarding the mortgage loans, ensuring the accuracy and completeness of loan information, compliance with laws and regulations, absence of undisclosed liens, etc. 4. Purchase price and funding arrangements: The agreement specifies the purchase price for the mortgage loans and the mutually agreed payment terms. It may also outline the funding arrangements, including the time and manner of payment. 5. Delivery and transfer of mortgage loans: This section outlines the procedures for the delivery and transfer of the mortgage loans, including the necessary documents, endorsements, assignments, and delivery deadlines. 6. Servicing rights and obligations: It covers the rights and obligations of the parties concerning the servicing of mortgage loans after the purchase, including loan administration, collection, remitting payments, and handling borrower communications. 7. Indemnification and remedies: This section describes the indemnification provisions and remedies available to both parties in case of breaches, misrepresentations, or defaults under the agreement. Different types of Rhode Island Sample Mortgage Loan Purchase Agreements between CFB MSC and CFB MCC may include variations in specific terms depending on the nature of the mortgage loans being purchased. This could include agreements relating to different loan types (e.g., fixed-rate, adjustable-rate), loan sizes, collateral properties, or specific borrower qualifications. Overall, the Rhode Island Sample Mortgage Loan Purchase Agreement serves as a comprehensive document governing the purchase and transfer of mortgage loans between CFB MSC and CFB MCC, ensuring compliance with applicable laws and protecting the interests of both parties involved.

Rhode Island Sample Mortgage Loan Purchase Agreement: A Mortgage Loan Purchase Agreement is a legally binding agreement between the Credit Suisse First Boston Mortgage Securities Corp. (CFB MSC) and Credit Suisse First Boston Mortgage Capital, LLC (CFB MCC) for the purchase of mortgage loans in the state of Rhode Island. This agreement outlines the terms and conditions of the purchase, transfer, and delivery of the mortgage loans. The Rhode Island Sample Mortgage Loan Purchase Agreement includes the following key provisions: 1. Parties involved: The agreement specifies the names and details of the parties involved, i.e., CFB MSC as the purchaser and CFB MCC as the seller. 2. Mortgage loan details: It outlines the specific details of the mortgage loans being purchased, including loan numbers, borrowers' names, property addresses, loan amounts, interest rates, and other relevant loan parameters. 3. Reps and warranties: This section covers the representations and warranties made by the seller regarding the mortgage loans, ensuring the accuracy and completeness of loan information, compliance with laws and regulations, absence of undisclosed liens, etc. 4. Purchase price and funding arrangements: The agreement specifies the purchase price for the mortgage loans and the mutually agreed payment terms. It may also outline the funding arrangements, including the time and manner of payment. 5. Delivery and transfer of mortgage loans: This section outlines the procedures for the delivery and transfer of the mortgage loans, including the necessary documents, endorsements, assignments, and delivery deadlines. 6. Servicing rights and obligations: It covers the rights and obligations of the parties concerning the servicing of mortgage loans after the purchase, including loan administration, collection, remitting payments, and handling borrower communications. 7. Indemnification and remedies: This section describes the indemnification provisions and remedies available to both parties in case of breaches, misrepresentations, or defaults under the agreement. Different types of Rhode Island Sample Mortgage Loan Purchase Agreements between CFB MSC and CFB MCC may include variations in specific terms depending on the nature of the mortgage loans being purchased. This could include agreements relating to different loan types (e.g., fixed-rate, adjustable-rate), loan sizes, collateral properties, or specific borrower qualifications. Overall, the Rhode Island Sample Mortgage Loan Purchase Agreement serves as a comprehensive document governing the purchase and transfer of mortgage loans between CFB MSC and CFB MCC, ensuring compliance with applicable laws and protecting the interests of both parties involved.