CONGRATULATIONS! - SWMC.com - Sun West Mortgage Company ...

appropriate proceedings diligently conducted and with respect to whichadequate reserves have been provided. The charges, accruals and reserveson the books of B/C, each guarantor and their respective subsidiaries inrespect of taxes and other governmental charges are, in the opinion of B/C orany guarantor, as applicable, adequate.b. Representations And Warranties As To Each Loan Application Or Mortgage Loan. Asto each Loan Application or Mortgage Loan submitted to SWMC, B/C herebyrepresents, warrants and covenants as follows:i. The Loan Application or Mortgage Loan strictly complies with, and has beenoriginated, processed, closed, and Funded in accordance with the Guides,Applicable Law, the guidelines of the Insuring Agency, SWMC’s instructions,and FHA, HUD, VA, USDA-RD, Freddie Mac, Fannie Mae, or Investorguidelines. Credit information for every Loan Application is in accordance withthe standards of the Guides.ii.iii.iv.There are no circumstances existing that would permit the primary mortgageguaranty insurer to deny coverage.Each Mortgage Loan is insured, or within forty-five (45) days of loan closing orSWMC’s purchase, whichever is later, will be insured, by the Insuring Agency.There has been no error, omission, fraud, dishonesty, misrepresentation,negligence or similar occurrence on the part of any person (including withoutlimitation, B/C, an applicant or borrower, any appraiser, builder or developer,service provider, or other third party) in connection with the solicitation,origination, or insuring of the Loan Application or Mortgage Loan or inconnection with the sale of the Mortgage Loan to SWMC. For purposes of thisAgreement, B/C specifically covenants, represents and warrants that theknowledge and actions of B/C’s officers, directors, employees, representativesand agents shall be imputed to, and be deemed the actions of, B/C.v. All representations made by B/C to SWMC concerning the Mortgage Loan andall information contained in the Loan Application and in any documentprovided to SWMC have been verified by B/C as true and correct in allrespects. B/C acknowledges that SWMC relies on the information anddocuments supplied by B/C to make underwriting and funding decisions, andaccordingly, it is critical that such documents and information (whetherfurnished verbally or by e-mail or fax) are truthful, accurate, and complete.vi.vii.viii.All documents and instruments submitted in connection with the LoanApplication or Mortgage Loan are valid and genuine in every respect.There are no claims or defenses to the Loan Application or Mortgage Loan byreason of any act or omission of B/C or its directors, officers, agents, oremployees. No Mortgage Loan or Mortgaged Property is the subject of, andB/C is not aware of any facts which could give rise to, litigation or which couldaffect SWMC's ability to enforce the terms of the obligation or its rights underthe Mortgage Loan. B/C has no adverse information concerning the LoanApplication or Mortgage Loan or any applicant or borrower that it has notcommunicated to SWMC.All representations made by B/C to the applicant or borrower concerning theMortgage Loan are true and correct in all respects.c. Additional Representations And Warranties For Mortgage Loans. In addition to therepresentations and warranties set forth in subdivision (b), for each Mortgage Loansubmitted to SWMC, B/C further makes the additional representations, warranties,and covenants set forth (i) in the applicable Guide and (ii) as set forth on Schedule 1attached hereto.Initials:________ BC App Ver. 7.7 10/06/2014 Page 12