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omission which would or may invalidate any such insurance or guaranty, and the insuranceor guaranty is, or when issued, will be, in full force and effect with respect to each MortgageLoan. There are no defenses, counterclaims, or rights of setoff affecting the Mortgage Loansor affecting the validity or enforceability of any private mortgage insurance or FHA insuranceapplicable to the Mortgage Loans or any VA guaranty with respect to the Mortgage Loans.(xx) Tax Service. The Mortgage Loan is covered by a life of loan,transferrable real estate tax service contract that may be assigned to SWMC.(yy) Predatory Lending Regulations; High Cost Loans. No Mortgage Loan isa “high cost” or “covered” loan, as defined by any applicable federal, state or local predatoryor abusive lending law (and no Mortgage Loan has a percentage listed under the IndicativeLoss Severity Column (the column that appears in the Standard & Poor’s Anti-PredatoryLending Law Update Table, included in the then-current Standard & Poor’s LEVELS®Glossary of Terms on Appendix E)). Any breach of this representation shall be deemed tomaterially and adversely affect the value of the Mortgage Loan and shall require arepurchase of the affected Mortgage Loan. No Mortgage Loan secured by property locatedin the State of Georgia was originated on or after October 1, 2002 and prior to March 7,2003. No Mortgage Loan originated on or after March 7, 2003 is a “high cost home loan” asdefined under the Georgia Fair Lending Act. No borrower was encouraged or required toselect a loan product offered by an originator that was a higher cost product designed forless-creditworthy borrowers, unless at the time of the Mortgage Loan’s origination, suchborrower did not qualify, taking into account credit history and debt-to-income ratios, for alower cost credit product then offered by such originator or any affiliate of such originator.(zz) Credit Score and Reporting. As of the Purchase Date, the borrower’scredit score as listed on the mortgage loan schedule is no more than ninety (90) days old.Full, complete and accurate information with respect to the borrower’s credit file wasfurnished to Equifax, Experian and Trans Union Credit Information in accordance with theFair Credit Reporting Act and its implementing regulations.(aaa) FHA Mortgage Insurance; VA Loan Guaranty. With respect to the FHALoans, the FHA Mortgage Insurance Contract is or eligible to be in full force and effect andthere exists no impairment to full recovery without indemnity to the Department of Housingand Urban Development or the FHA under FHA Mortgage Insurance. With respect to the VALoans, the VA Loan Guaranty Agreement is in full force and effect to the maximum extentstated therein. All necessary steps have been taken to keep such guaranty or insurancevalid, binding and enforceable and each of such is the binding, valid and enforceableobligation of the FHA and the VA, respectively, to the full extent thereof, without surcharge,set-off or defense. Each FHA Loan and VA Loan was originated in accordance with thecriteria of an “Agency” for purchase of such Mortgage Loans.(bbb) None of the Mortgage Loans are subject to the Home Ownership andEquity Protection Act of 1994 or any comparable state or local law.(ccc) Qualified Mortgage. With respect to each Mortgage Loan where theborrower’s loan application for the Mortgage Loan was taken on or after January 10, 2014,such Mortgage Loan (i) is a Qualified Mortgage and (ii) complies with the Ability To RepayStandards, and all necessary evidence to demonstrate such compliance with 12 C.F.R. Part1026.43(e) and 12 C.F.R. Part 1026.43(c) is included in the mortgage file and MortgageLoan Documentation. Any breach of this representation shall be deemed to materially andadversely affect the value of the Mortgage Loan and shall require a repurchase of theaffected Mortgage Loan.Initials:________ BC App Ver. 7.7 10/06/2014 Page 30
FHA ADDENDUMThis addendum is to the Mortgage Broker & Correspondent Agreement (the “Agreement”),which was entered into concurrently with this Addendum or prior to this Addendum by andbetween SWMC and Broker/Correspondent. The definitions used in this Addendum shallhave the same meanings as the definitions of the Agreement. To the extent that thisAddendum may conflict with any provision of Agreement, the terms and conditions of thisAddendum shall control and supersede any conflicting provision in the Agreement.For non-delegated Correspondents: Correspondent desires to be approved to originateFHA loans on SWMC’s behalf under the FHA Sponsorship program. SWMC desires to be awilling sponsor of Correspondent to originate FHA loans, provided Correspondent hasoriginated such loans in compliance with HUD (FHA) guidelines and the Agreement.For delegated Correspondents: Correspondent desires to be approved to sell closed FHAloans to SWMC. SWMC desires to purchase FHA loans originated and closed byCorrespondent which are in compliance with HUD (FHA) guidelines and the AgreementIn addition to the various representations, warranties, and covenants contained in theAgreement, Broker/Correspondent represents, warrants, and covenants the following as toeach FHA mortgage loan application submitted to SWMC:1. Broker/Correspondent will not issue to Applicants a lock-in agreement unless B/C hasreceived written confirmation of approval of the interest rate, points, and terms fromSWMC.2. B/C agrees to comply with all local, state, and federal laws and HUD/FHA regulations,guideline rules, and Mortgagee Letters. In the event that it is discovered by a HUD auditof SWMC that excess fees or points that do not comply with HUD guidelines have beencharged, then B/C will be responsible for refunding the excess to the borrower.Underwriting approval by SWMC does not negate B/C responsibility hereunder.3. B/C acknowledges that B/C must pay the annual renewal fee for FHA and will do so in atimely manner each year.4. B/C acknowledges that B/C has all the required FHA manuals in B/C’s branch/office.5. B/C acknowledges that B/C meets all eligibility requirements imposed by HUD fororiginating FHA loans under the Sponsorship status, and that should B/C eligibility beimpaired subsequent to B/C’s approval herewith B/C shall promptly notify SWMC.6. B/C acknowledges that B/C is sponsored by SWMC and that SWMC shall be responsiblefor obtaining the MIC (Mortgage Insurance Certificate) on all loans closed hereunder. B/Cfurther agrees that if HUD denies the insurance for any reason except for acts andomissions by SWMC, B/C will take all measures to correct the deficiencies indocumentation, etc., so that the loan can be guaranteed or insured.__________________________________________________________________Signature of Authorized Officer, Title__________________________________________________________________Name (please print)DateInitials:________ BC App Ver. 7.7 10/06/2014 Page 31
Page 2 and 3: SUN WEST MORTGAGE CO. BROKER/CORRES
Page 4 and 5: Servicing Transfer InformationSecti
Page 6 and 7: MORTGAGE BROKER & CORRESPONDENT AGR
Page 8 and 9: iii. Best Effort/Mandatory Commitme
Page 10 and 11: n. Securitization. Seller recognize
Page 12 and 13: appropriate proceedings diligently
Page 14 and 15: Mortgage Loan note. On a reverse Mo
Page 16 and 17: c. SWMC, in its sole discretion, ma
Page 18 and 19: egulations or ordinances require ad
Page 20 and 21: IN WITNESS WHEREOF, The parties hav
Page 22 and 23: (e) Hazard Insurance. The mortgaged
Page 24 and 25: (k) Validity of Mortgage Documents.
Page 26 and 27: index plus the gross margin (rounde
Page 28 and 29: (ee) Other Insurance Policies. No a
Page 32 and 33: VA ADDENDUMThis addendum is to the
Page 34 and 35: REVERSE MORTGAGE ADDENDUMThis Rever
Page 36 and 37: INTERNET ADDENDUMThis Internet Adde
Page 38 and 39: F. Disclaimer of Warranties.1. THE
Page 40 and 41: RECERTIFICATION ADDENDUMThis Recert
Page 42 and 43: NO SANCTIONS DECLARATIONThis is to
Page 44 and 45: Part 2: Exemption: If exempt from 1
Page 46 and 47: DIRECT DEPOSIT AUTHORIZATION FORMIn
Page 48 and 49: STATE LICENSESState License Type Li
Page 50 and 51: BRANCH LISTBranchOffice NameBranch
Page 52 and 53: APPLICATION CHECKLISTPlease use thi
Page 54 and 55: 7. The assignment of any mortgage,
Page 56: (SPACE ABOVE FOR RECORDER’S USE)S

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