Description: A South Dakota Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is a legally binding document that outlines the terms and conditions for the purchase of subsequent mortgage loans in the state of South Dakota. This agreement serves as a guideline for Ameriquest Mortgage, a prominent mortgage lender, and potential buyers. The South Dakota Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is designed to ensure all parties involved are aware of their rights, responsibilities, and obligations. It includes various clauses that protect the interests of both the lender and the buyer. This agreement may contain specific variations based on the type of subsequent mortgage loans being purchased. Some common types of South Dakota Sample Subsequent Mortgage Loan Purchase Agreements of Ameriquest Mortgage include: 1. Fixed-Rate Mortgage Loan Agreement: This agreement pertains to subsequent mortgage loans that have a fixed interest rate throughout the loan term. Borrowers who prefer stability and predictable monthly payments often opt for this type of mortgage loan. 2. Adjustable-Rate Mortgage Loan Agreement: This agreement applies to subsequent mortgage loans with an adjustable interest rate. These loans initially offer a fixed rate for a specific period, followed by adjustable rates based on market conditions. Such loans are suitable for borrowers who can handle potential fluctuations in interest rates. 3. Jumbo Mortgage Loan Agreement: If the subsequent mortgage loan amount exceeds the conforming loan limits set by government-sponsored enterprises like Fannie Mae or Freddie Mac, it is considered a jumbo mortgage loan. A South Dakota Sample Subsequent Mortgage Loan Purchase Agreement addresses the specific requirements and conditions associated with jumbo mortgage loans. 4. FHA-insured Mortgage Loan Agreement: For subsequent mortgage loans that are insured by the Federal Housing Administration (FHA), a specialized agreement is used. This agreement ensures compliance with FHA guidelines and regulations related to eligibility, loan limits, and other borrower requirements. 5. VA-guaranteed Mortgage Loan Agreement: This type of agreement pertains to subsequent mortgage loans guaranteed by the Department of Veterans Affairs (VA). It outlines the terms and conditions specific to VA loans, such as eligibility criteria, entitlements, and other benefits available to eligible veterans and service members. Regardless of the specific type, a South Dakota Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage ensures that all relevant federal and state laws are adhered to. It includes provisions related to loan origination, repayment terms, borrower qualifications, loan servicing, default, and foreclosure processes. In summary, a South Dakota Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is a comprehensive legal document that governs the purchase of subsequent mortgage loans in the state. It provides clarity, protection, and adherence to established rules to facilitate smooth transactions between Ameriquest Mortgage and potential buyers.
South Dakota Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage
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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).
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.
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 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest 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.