Origination and Underwriting. The origination practices of the Seller (or the related originator if the Seller was not the originator) with respect to each Mortgage Loan have been, in all material respects, legal and as of the date of its origination, such Mortgage Loan (or the related Whole Loan, as applicable) and the origination thereof complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination of such Mortgage Loan; provided that such representation and warranty does not address or otherwise cover any matters with respect to federal, state or local law otherwise covered in this [Exhibit B].

Origination Date. Unless otherwise approved by ​ (other than with respect to a Ginnie Mae Modified or a Scratch and Dent Mortgage Loan), the initial Purchase Date is no more than # with respect to Mortgage Loans other than Correspondent Mortgage Loans in non-escrow states, thirty (30) days following the origination date of the Mortgage Note; # with respect to Mortgage Loans other than Correspondent Mortgage Loans in escrow states, forty-five (45) days following the origination date of the Mortgage Note and # with respect to Correspondent Mortgage Loans, sixty (60) days following the origination date of the Mortgage Note.

#Such Participated Mortgage Loan is in all respects in compliance with all Laws applicable thereto, including all Laws applicable to the processing, origination, underwriting, closing and funding of such Participated Mortgage Loan; and # without limiting the forgoing, ​ is in compliance with all Laws applicable to ​ in connection with such Participated Mortgage Loan;

Conformance with Agency and Approved Underwriting Guidelines. Other than with respect to a Scratch and Dent Mortgage Loan, the Mortgage Loan was underwritten in accordance with the Approved Underwriting Guidelines (a copy of which has been delivered to ​). The Mortgage Note and Mortgage are on forms acceptable to Freddie Mac, Fannie Mae or FHA, as applicable, and ​ has not made any representations to a Mortgagor that are inconsistent with the mortgage instruments used. The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective quantitative principles which relate the Mortgagor’s credit characteristics, income, assets and liabilities (as applicable to a particular underwriting program) to the proposed payment, and such underwriting methodology does not rely on the extent of the Mortgagor’s equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan.

“Appraised Value” shall mean (i) the value set forth in an Appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property or (ii) in the case of property inspection waiver Mortgage Loans, the value accepted by Fannie Mae or Freddie Mac’s automated underwriting system as the value of the Mortgaged Property.

Ohio Stated Income Exclusion. Each Mortgage Loan that is not a HECM Loan with an origination date on or after ​ which is secured by Mortgaged Property located in Ohio was originated pursuant to a program which requires verification of the borrower's income in accordance with “Full and Alternative Documentation” programs as described within the Approved Underwriting Guidelines.

For purposes of these representations and warranties, the phrases “the Seller’s knowledge” or “the Seller’s belief” and other words and phrases of like import mean, except where otherwise expressly set forth in these representations and warranties, the actual state of knowledge or belief of the Seller, its officers and employees directly responsible for the underwriting, origination, servicing or sale of the Mortgage Loans regarding the matters expressly set forth in these representations and warranties.

"Average Underwriting/Service Income" shall mean the positive or negative amount by which the average annual underwriting/service income for the Calculation Period exceeds or is less than the average of the underwriting/service income for the next preceding five (5) fiscal years or such other time period set by the Committee.

at the time of origination of such Receivable, such Receivable is due from an Obligor that at the time of origination had a FICO® Score and such FICO® Score was not less than 525;

Analysis of underwriting standards.