Washington Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is a legal document that outlines the terms and conditions for the purchase of mortgage loans by Ameriquest Mortgage in the state of Washington. This agreement is crucial in facilitating the smooth transfer of mortgage loans, ensuring compliance with legal and regulatory requirements. The Washington Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is designed to protect the interests of both parties involved in the mortgage loan transaction. It outlines the obligations and responsibilities of the buyer (Ameriquest Mortgage) and the seller (the original lender) regarding the transfer of mortgage loans. Key aspects covered in this agreement include loan specifications, purchase price, representations and warranties, loan delivery, and documentation requirements. This agreement aims to establish a clear framework for the subsequent purchase of mortgage loans, ensuring that all parties are fully informed and compliant with applicable laws and regulations. It provides a detailed outline of the loan specifications, including the loan number, borrower information, loan amount, interest rate, and repayment terms. The Washington Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage also includes provisions related to the purchase price of the mortgage loan. It describes the formula or method by which the purchase price will be determined, taking into account factors such as the outstanding principal balance, accrued interest, and any applicable fees. Representations and warranties are also fundamental components of this agreement. Both the buyer and the seller make various representations and warranties to ensure the accuracy and validity of the loan information. This includes representations regarding the accuracy of the loan documents, compliance with laws and regulations, and the absence of any adverse information that could affect the loan's value or marketability. The agreement also specifies the process and requirements for loan delivery. It outlines the documentation to be provided by the seller to the buyer, including the original mortgage note, mortgage deed, and other supporting documents. This ensures that the buyer has all the necessary paperwork to assume ownership of the mortgage loan legally. In conclusion, the Washington Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage is a crucial legal document that facilitates the smooth transfer of mortgage loans in Washington state. It outlines the terms and conditions for the subsequent purchase of mortgage loans, ensuring compliance with applicable laws and regulations. This agreement protects the interests of both the buyer and the seller and establishes a clear framework for loan transfer, documentation requirements, and representation of loan information.
Washington Sample Subsequent Mortgage Loan Purchase Agreement of Ameriquest Mortgage
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How to fill out 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.
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.
On September 1, 2007, Citigroup completed its acquisition of Argent Mortgage and AMC Mortgage Services, shutting down Ameriquest Mortgage.
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).
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.