In addition, where used in this Agreement the following terms have the meanings as indicated: (a) Capitalized terms defined in the preamble, the background hereto or elsewhere in this Agreement shall have the meaning given to such terms when used elsewhere in this Agreement. NOW, THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows:
#Quicken 2017 for mac loan amortization mac#
The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, a government-sponsored enterprise, solely in its capacity as the owner or the guarantor of the mortgage loans which are now, or which hereafter are serviced, directly or indirectly, by the Borrower pursuant to the terms and conditions of the Servicing Contract (as defined below) (solely in such capacity, and together with its successors and permitted assigns in such capacity, the Owner), granted its consent hereto by its execution and delivery of the Acknowledgment Agreement (as defined below), pursuant to which, among other things, the Lender acknowledged and agreed that its rights with respect to the Collateral are subject and subordinate to all rights, powers, and prerogatives of the Owner under the Purchase Documents (as defined below), at law, or in equity, including, without limitation, the rights of the Owner: (i) to terminate or suspend (in whole or in part) the Borrower as an approved Freddie Mac Seller/Servicer (whether pursuant to a Termination With Cause or a Termination Without Cause (as such terms are defined in the Acknowledgment Agreement)) (ii) to terminate or suspend (in whole or in part) the Servicing Contract (whether pursuant to a Termination With Cause or a Termination Without Cause) (iii) to cause a sale and transfer of all or any portion of the Servicing Contract, as provided in the Purchase Documents and (iv) to payment of all of the Owners Claims and the Owners Servicing Transfer Costs (as such terms are defined in the Acknowledgment Agreement). The Lender has agreed, subject to the terms and conditions of this Agreement, to provide such financing to the Borrower.ĭ. The Borrower has agreed to secure all of its Obligations by granting to the Lender, a first priority lien on the Collateral.Ĭ.
The Borrower has asked the Lender to extend credit to the Borrower consisting of a revolving loan facility in the aggregate principal amount of up to the Commitment Amount.ī. This LOAN AND SECURITY AGREEMENT (as amended, supplemented or otherwise modified, this Agreement), dated as of April 30, 2018, is by and between QUICKEN LOANS INC., a Michigan corporation (together with its permitted successors and assigns, the Borrower), and the FEDERAL HOME LOAN MORTGAGE CORPORATION, also known as FREDDIE MAC, a government-sponsored enterprise, solely in its capacity as the lender hereunder (together with its successors and permitted assigns in such capacity, the Lender the Lender and the Borrower are hereinafter sometimes referred to individually as a Party, and collectively as the Parties).Ī. Governing Law Jurisdiction Consent to Service of Process Use of Subservicers Subservicer Acknowledgement LettersĬovered Mortgage Loan Concentration Limit Special Affirmative Covenants Concerning Pledged Servicing Performance and Compliance with Servicing Contract
Representations Concerning the CollateralĪrticle VI REPRESENTATIONS AND WARRANTIESīorrowers Existing Material Debt Facilities
Lenders Appointment as Attorney In Fact Rights Upon Event of Default Provisions Regarding Pledge of Pledged Servicing to Be Included In Financing Statements Increased Costs Capital Adequacy Requirements Termination or Reduction of Revolving Credit CommitmentsĮxtension of Availability Period and Maturity DateĪrticle III TAXES, YIELD PROTECTION AND ILLEGALITY
Article I DEFINITIONS AND ACCOUNTING MATTERSīorrowing Base Reports Valuation Disputes
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