Agreement to Pay Attorneys Fees. The table of contents, titles and headings of the articles and sections of this Agreement have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof and shall not be considered or given any effect in construing this Agreement or any provision hereof in ascertaining intent, if any questions of intent should arise. In such connection, Celink shall from its own funds make all necessary and proper Advances in accordance with the Applicable Requirements, and Celink shall be reimbursed for such Advances according to Section5.09. Among the current complaints causes of action are breach of contract, breach of HECM loan agreements, and breach of the covenant of good faith and fair dealing. More Info General Info John joined the company in 1985 as President, bringing with him 13 years' prior experience as Vice President of a Lansing-based company. Subservicing Fee means, unless otherwise provided in ExhibitA attached hereto, the fee paid monthly to Celink in respect of each Loan subserviced by Celink. In November, Reverse Mortgage Funding, the country's fifth most active HECM lender so far in 2022, laid off over 400 staff members and suspended new originations before filing for bankruptcy. Section3.02. They are showing no shame in doing it either. Celink shall use its best efforts to dispose of the REO Property as soon as possible after RMF takes title to such REO Property, unless Celink determines, and gives an appropriate notice to the RMF to such effect, that a longer period is necessary for the orderly liquidation of such REO Property. Fannie Mae means the Federal National Mortgage Association. 2023 Reverse Mortgage Funding LLC, 1455 Broad St., 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. . Section1.03. Our team is dedicated to our clients, their borrowers, and the reverse mortgage industry-at-large. Celink | LinkedIn All forms or reports required by this Agreement will be prescribed by RMF from time to time and may be amended, supplemented or replaced, as RMF shall deem appropriate in the reasonable exercise of its discretion.
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