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Oregon Subsequent Transfer Agreement between MLCC Mortgage Investors, Inc. and Bankers Trust of CA, N.A. regarding consummation for purchase and sale of mortgage loans

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Subsequent Transfer Agreement between MLCC Mortgage Investors, Inc. and Bankers Trust of California, N.A. regarding consummation for purchase and sale of subsequent mortgage loans dated 00/99. 3 pages.

Description: The Oregon Subsequent Transfer Agreement is a legally binding contract between LCC Mortgage Investors, Inc. and Bankers Trust of CA, N.A. It pertains to the consummation of the purchase and sale of mortgage loans within the state of Oregon. This agreement outlines the terms and conditions that both parties must adhere to during the transfer process. One type of the Oregon Subsequent Transfer Agreement is the Standard Subsequent Transfer Agreement. This agreement governs the purchase and sale of mortgage loans under normal circumstances. It encompasses the standard provisions and clauses that are commonly included in such agreements, ensuring a smooth and efficient transfer process. Another type is the Modified Subsequent Transfer Agreement. This particular agreement is utilized when there are modifications or specific provisions required by either party. It allows for additional terms to be added or changes to be made to the standard agreement to accommodate the unique circumstances of the transaction. Additionally, the Oregon Subsequent Transfer Agreement may include provisions related to warranties, representations, indemnification, and remedies available to both LCC Mortgage Investors, Inc. and Bankers Trust of CA, N.A. These provisions protect the interests of both parties and provide a framework for resolving any disputes that may arise during the transfer process. The agreement also details the obligations of each party, including the delivery of necessary documentation, compliance with applicable laws and regulations, and the transfer of funds. It sets forth the timelines and deadlines that must be followed to complete the transaction in a timely and efficient manner. Overall, the Oregon Subsequent Transfer Agreement between LCC Mortgage Investors, Inc. and Bankers Trust of CA, N.A. ensures a legally compliant and transparent process for the purchase and sale of mortgage loans in Oregon. It provides a comprehensive framework for both parties to follow, protecting their rights and interests throughout the transfer process.

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FAQ

The broker must retain a true and correct copy of the disclosures as acknowledged by the borrowers for three years. 6. The broker must advise the borrowers whether or not the loan will be made with broker-controlled funds. 7.

Keeping the Records The Rules require that the brokerage retain any documents associated with mortgage deals for a minimum of three years. RECA may extend this retention period if an investigation by RECA requires your records.

[2 years] Mortgage licensees must maintain a record of samples of each of their advertisements for two years after the date of publication. Fla.

A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.

The primary difference between a Mortgage Broker and a Sub Mortgage Broker is that the Mortgage Broker holds the Broker's License and is able to employ Sub Mortgage Brokers. A Sub Mortgage Broker cannot operate unless they are registered under a Mortgage Broker, commonly called the Brokerage Office.

Verification of identity If the brokerage is unable to verify the identity of a party to the transaction, the brokerage must advise the borrower, lender or investor (as appropriate): Before submitting the borrower's mortgage application to the lender or arranging a mortgage renewal agreement with the lender.

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Oregon Subsequent Transfer Agreement between MLCC Mortgage Investors, Inc. and Bankers Trust of CA, N.A. regarding consummation for purchase and sale of mortgage loans