System and method for determining compliance with a delegated underwriting and servicing agreement
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United States of America Patent
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Jul 13, 2010
Grant Date -
N/A
app pub date -
Feb 14, 2005
filing date -
Feb 13, 2004
priority date (Note) -
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Abstract
A method for determining compliance with a delegated underwriting and servicing agreement between a mortgage seller and a mortgage purchaser relating to the sale of multifamily mortgage loans using a computer network includes receiving mortgage data regarding at least one multifamily mortgage loan in a mortgage portfolio of the mortgage seller and financial data regarding the mortgage portfolio and receiving mortgage seller data. The delegated underwriting and servicing agreement includes a loss sharing provision, a servicing provision allowing the mortgage seller to retain servicing rights for the multifamily mortgage loans and a provision that the mortgage seller be adequately capitalized against the risk for each multifamily mortgage loan. The method also includes storing the mortgage data, financial data and mortgage seller data and applying a set of predefined capital standards to the mortgage data, financial data and mortgage seller data to determine compliance with the delegated underwriting and servicing agreement.
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