Michael Calandra presented at this event hosted by Strafford.
The panel reviewed these and other key issues:
- What is a warehouse line of credit and how is it documented?
- How is the security interest of the buyer/lender documented and perfected under the Financing Agreement and the custodial agreement?
- What are the standard eligibility criteria and representations and warranties required of the loan seller, and are they negotiable?
- How are mortgage loan repurchase obligations and other remedies triggered and enforced under the Financing Agreement?
- How is the Financing Agreement treated in a bankruptcy of the seller/borrower? What about a third-party mortgage loan subservicer?
The live 90-minute video can be viewed here.