Mortgage Purchase Agreement

Sample Partial Preview Of Mortgage Purchase Agreement

(COMPANY NAME)

MORTGAGE PURCHASE AGREEMENT

THIS CORRESPONDENT LENDING MORTGAGE PURCHASE AGREEMENT (Agreement) is entered into as of this ______ day of ________________________, 200____, by and between (COMPANY NAME) MORTGAGE (Company Name) or (COMPANY NAME), a licensed mortgage lender whose principal office is located at _______________________________________________________________________, its successors and/or assigns, and_________________________________________________________ (seller), a __________________ whose principal office is located at ________________________________________________________________________.

RECITALS

WHEREAS, the Seller desires to originate and sell to (Company Name) and (Company Name) desires to purchase from Seller certain residential Mortgage Loans (as hereinafter defined), pursuant to the terms of this Agreement and the (Company Name) Mortgage Correspondent Sellers Guide incorporated herein by reference, as amended, supplemented, or otherwise modified, from time to time (Guide).

WHEREAS, (Company Name), as part of its regular business activities purchases, from time to time, Mortgage Loans meeting certain criteria.

WHEREAS, Seller is in the business of originating and selling Mortgage Loans and desires to sell and assign Mortgage Loans, servicing released, to (Company Name) which are to be underwritten pursuant to (Company Name) underwriting guidelines in effect at the time of each sale.