If the requirements detailed in Section 8 above for submission of a Characterization Dispute to arbitration are satisfied, the Parties agree that any such Characterization Dispute shall be submitted in accordance with the applicable timing provisions in Section 8 above to arbitration by Arbitrator s.
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At the option of either Party, x the Arbitrator s may consider all relevant agreements, conduct and defenses raised by either of the Parties, and y a hearing on the merits of all Characterization Disputes for. The Arbitrator s must render a decision within the later to occur of: The law applicable to the arbitration procedure shall be the Federal Arbitration Act 9 U. Section 2. The substantive law that shall be applied by the Arbitrator s shall be the law of the State of New York without regard to the principles of conflict of law of that state.
The only disputes to be considered by Arbitrator s under this Agreement are Characterization Disputes; the Parties are not hereby agreeing to the arbitration of any other disputes or Claims. Excluded Mortgage s calculated in accordance with the repurchase provisions set forth in the Purchase Documents. Advice of Counsel.
Each Party to this Agreement has reviewed this Agreement independently and with counsel, is fully informed of the terms and effect of this Agreement, and has not relied in any way on any inducement, representation, or advice of any other Party hereto in deciding to enter into this Agreement, except as expressly herein contained.
Representations and Warranties of Parties. Each of CitiMortgage and Citibank has the power to own its respective assets and to transact the business in which it is currently engaged. In addition, Citibank represents and warrants that it or any successor thereto shall, and hereby covenants to, continuously maintain all components of such agreement or undertaking as an official record of such entity.
This Agreement shall be governed by the law of the State of New York without giving effect to its conflict of laws rules. Federal statutes may specifically apply, including but not limited to, 12 USC Sections and Any claims, actions or proceedings brought by any Party arising out of or related to this Agreement will be brought in the United States District Court for the Eastern District of Virginia, Alexandria Division.
The parties hereby submit to the jurisdiction of said Federal District Court and consent to the dismissal of any action related to this Agreement that is brought in any other forum. Construction of Agreement. In the event of a dispute regarding the meaning of any language contained in this Agreement, the Parties agree that the same should be accorded a reasonable construction and should not be construed more strongly against one Party than against. In the event of a conflict between this Agreement and any Purchase Documents, this Agreement controls.
Prevailing Party. Notwithstanding anything in this Agreement to the contrary, the provisions of the preceding sentence are intended to be severable from the balance of this Agreement, shall survive any judgment rendered in connection with the aforesaid legal action, and shall not be merged into any such judgment. This Agreement may not be amended or modified orally.see url
Freddie Mac: FHLMC Guide Bulletin 2018-26: Servicing Updates
This Agreement and the terms hereof may not be amended, supplemented, waived or modified except by a written instrument duly executed by the Parties. No Admissions, No Precedent. The resolution of this matter is voluntary. The Parties acknowledge that they expressly understand that this Agreement and the settlement it represents are entered into solely for the purpose of avoiding any possible future expenses, burdens or distractions of dispute and in no way constitute an admission by any Party hereto of any fact or claim.
This Agreement and any negotiations leading to this Agreement do not constitute an.
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This Agreement shall not be used as an admission of any kind against any Party in this or any other past, present or future claim or matter. For purposes of this paragraph, a disparaging statement or representation is any communication that, if publicized to another, would cause or tend to cause the recipient of the communication to question the business condition, integrity, competence, good character, or product quality of the Person to whom the communication relates.
The Parties will take reasonable and good faith efforts to ensure, to the extent reasonably possible under the applicable time frame, that the timing and general content of the initial written press release or public announcement excluding securities and regulatory filings is mutually satisfactory, including providing the non-disclosing party advance written notice including notice of at least one twenty-four 24 hour period where feasible and an opportunity to review the same.
This Agreement, together with all exhibits, attachments and schedules hereto, as well as other documents, communications, drafts and other materials of any kind relating to the negotiation of this Agreement, the circumstances leading thereto, or the implementation of this Agreement by the Parties other than information publicly disclosed in accordance with Section 18 above collectively, the. Citibank a reaffirms its continuing obligations under the Guaranty, as such obligations relate or related to Settlement Mortgages, which obligations may have been modified by the terms of this Agreement and b acknowledges that the Guaranty remains in full force and effect without any exoneration.
No Waiver. The Parties may waive their respective rights, powers or privileges under this Agreement; provided, that any such waiver shall be in a writing expressly stating such waiver; and provided, further, that no failure or delay on the part of any Party to exercise any right, power or privilege under this Agreement shall operate as a waiver thereof, nor will any single or partial exercise of any right, power or privilege under this Agreement preclude any other or further exercise thereof or the exercise of any other right, power or privilege by the Party under this Agreement, nor will any such waiver operate or be construed as a future waiver of such right, power or privilege under this Agreement.
Reservation of Rights; Remedies Are Cumulative. Except as expressly set forth in this Agreement, each Party acknowledges and agrees that this Agreement does not change the respective contractual rights, obligations, or remedies of such Party. All rights and remedies provided in this Agreement are cumulative and not exclusive, and the exercise by any Party of any right or remedy does not preclude the exercise of any other rights or remedies that may now or subsequently be available at law, in equity, by statute, in any other agreement between the Parties or otherwise.
The use of any gender in this Agreement shall be deemed to be or include the other genders, including neuter, and the use of the singular shall be deemed to be or include the plural and vice versa wherever applicable.
Freddie Mac Bulletin - Single-Family Seller/Servicer Guide
References to Sections and other subdivisions of this Agreement are to the designated Sections and other subdivisions of this Agreement as originally executed. The headings of this Agreement are for convenience only and shall not define or limit the provisions hereof.
Time is of the essence in the performance of the obligations stated in this Agreement. Survival of Covenants. The covenants, representations, and warranties in this Agreement shall survive the execution of this Agreement and payment of the Settlement Amount. Entire Agreement. This Agreement and the other documents referenced herein constitute the entire agreement between the Parties hereto with respect to the subject matter contained herein. All notices that are required or are permitted hereunder shall be in writing and shall be: Mail, return receipt requested, first class postage prepaid, or c faxed to the Parties as follows: If to Freddie Mac: McLean, VA With a copy to: Legal Division, Freddie Mac.
Vice President and Deputy General Counsel,. Single Family Real Estate Department. CitiMortgage, Inc. General Counsel. To the extent practical, any such notice provided hereunder shall also be sent to the respective e-mail addresses set forth above which shall not constitute formal notice under this Section Counterparts; Effective Date.
- Freddie Mac: FHLMC Guide Bulletin 2018-26: Servicing Updates.
- Freddie Mac: FHLMC Guide Bulletin Servicing Updates - Safeguard Properties.
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This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures were upon the same instrument. This Agreement shall be deemed signed and effective on the date that all of the Parties exchange facsimile or PDF copies of the executed signature pages, which shall be supplemented by original signatures within seven 7 calendar days after such date. Other Lawsuits and Claims. Successors; No Third Party Beneficiaries.
First American CREDCO’S Anthem Compliant With Freddie Mac’s Guidelines For Non-Traditional Credit
The captions assigned to provisions of this Agreement are for convenience only and shall be disregarded in construing this Agreement. Except for Sections 2 through 6 of this Agreement, which shall be read together as singular material provisions of this Agreement, if any other provision of this Agreement, or any portion of any provision of this Agreement, shall be declared illegal, invalid, null and void or unenforceable by any court or tribunal having jurisdiction thereof, such portion or provision hereof shall be deemed separate and apart from the remainder of this Agreement, which shall remain in full force and effect.
Robert Izzo. Victoria A. Home News Events Careers. With this Bulletin, we are making the following changes to our selling requirements: Including additional guidance regarding flood zone determination requirements We are making the following changes to our Servicing requirements: Allowing Servicers to use automated valuations provided by BPOdirect - to evaluate certain workout options Making several changes regarding expense reimbursements, including: June 1, - The three new Texas designated counsel began accepting cases on this date.
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No files should be sent to the prior Texas counsel on or after this date. Sincerely, Patricia J.
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