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Mortgage Loan Purchase Agreement

Mortgage Loan Purchase Agreement Template for Philippines

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Key Requirements PROMPT example:

Mortgage Loan Purchase Agreement

"I need a Mortgage Loan Purchase Agreement for the acquisition of a residential mortgage portfolio valued at 鈧500 million from a regional Philippine bank, with closing planned for March 2025, including provisions for anti-money laundering compliance and data privacy requirements as per BSP regulations."

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Document background
The Mortgage Loan Purchase Agreement is a crucial document used in the Philippine financial sector when one financial institution wishes to sell part or all of its mortgage loan portfolio to another institution. This transaction type is common in situations involving portfolio optimization, regulatory capital management, or strategic business decisions. The agreement must comply with Philippine banking regulations, particularly the General Banking Law of 2000, BSP circulars, and other relevant legislation such as the Data Privacy Act and Anti-Money Laundering Act. It typically includes detailed provisions for loan transfer procedures, purchase price calculations, representations about loan quality, and servicing arrangements. The document is essential for maintaining proper documentation of the transfer and ensuring all regulatory requirements are met while protecting both parties' interests.
Suggested Sections

1. Parties: Identification of the seller (originating bank/financial institution) and purchaser of the mortgage loans

2. Background: Context of the transaction, including brief description of the mortgage loan portfolio being sold

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Purchase and Sale: Core terms of the transaction, including purchase price, payment terms, and scope of assets being purchased

5. Conditions Precedent: Requirements that must be met before the purchase becomes effective

6. Representations and Warranties of Seller: Seller's assertions regarding the mortgage loans, authority to sell, and compliance with laws

7. Representations and Warranties of Purchaser: Purchaser's assertions regarding authority to purchase and compliance with laws

8. Transfer and Delivery: Procedures for transferring loan documentation and rights

9. Purchase Price and Payment: Detailed terms of consideration and payment mechanics

10. Servicing Transfer: Terms governing the transfer of loan servicing responsibilities

11. Covenants: Ongoing obligations of both parties

12. Default and Remedies: Events of default and available remedies for both parties

13. Indemnification: Terms of mutual indemnification and liability allocation

14. Term and Termination: Duration of agreement and termination provisions

15. Notices: Communication procedures between parties

16. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction details

17. Miscellaneous: Standard boilerplate provisions including amendments, assignment, and severability

Optional Sections

1. Repurchase Obligations: Terms under which the seller must repurchase loans that fail to meet representations and warranties

2. Interim Servicing: Provisions for temporary servicing arrangements during transition period

3. Customer Notifications: Procedures for notifying borrowers of the loan transfer

4. Data Protection: Additional provisions regarding protection of customer data under Philippine Data Privacy Act

5. Anti-Money Laundering Compliance: Specific provisions for AMLA compliance in large portfolio transfers

6. Post-Closing Obligations: Additional duties and obligations after the closing date

7. Third-Party Consents: Requirements for obtaining necessary third-party approvals

8. Survival: Specific provisions about which terms survive termination

Suggested Schedules

1. Schedule A - Mortgage Loan Schedule: Detailed list of all mortgage loans being purchased, including key loan information

2. Schedule B - Purchase Price Calculation: Methodology and calculations for determining the purchase price

3. Schedule C - Required Documentation: List of required documentation for each mortgage loan

4. Schedule D - Transfer Procedures: Detailed procedures for executing the transfer of loans

5. Schedule E - Form of Assignment: Template for the formal assignment of each mortgage loan

6. Schedule F - Servicing Transfer Requirements: Detailed requirements for transferring servicing responsibilities

7. Appendix 1 - Due Diligence Checklist: Checklist for loan file review and due diligence

8. Appendix 2 - Form of Transfer Notice: Template for borrower notifications

9. Appendix 3 - Regulatory Compliance Certificates: Required certificates and forms for regulatory compliance

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions














































Clauses








































Relevant Industries

Banking

Financial Services

Real Estate

Mortgage Lending

Investment Banking

Asset Management

Legal Services

Financial Technology

Relevant Teams

Legal

Compliance

Risk Management

Finance

Treasury

Credit Operations

Mortgage Operations

Due Diligence

Portfolio Management

Asset Management

Investment

Banking Operations

Loan Servicing

Documentation

Regulatory Affairs

Relevant Roles

Chief Financial Officer

Legal Counsel

Compliance Officer

Risk Manager

Portfolio Manager

Credit Officer

Treasury Manager

Mortgage Operations Manager

Due Diligence Specialist

Financial Controller

Chief Risk Officer

Asset Manager

Investment Officer

Banking Operations Director

Loan Servicing Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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