Laserfiche WebLink
Delaware. The co -pang is a wholly owned subsidiary of First <br />Nationwide Bank., a federal savings lank, formerly First: Madison <br />Bank, FSB. The Bank is an indirect. subsidiary of K-icAndsew t <br />Forbes Holdings Inc., a corporation wholly owned throt.igh Mateo <br />Holdings Inc. The Servicer is in the rrvort.gage banking business and <br />is primarily involved in servicing, originating and administering <br />mortgage loans. Loan production operations are based in Dallas, <br />Texas and the loan servicing operation is based in Frederick, <br />Maryland. <br />The Servicer is ( i ) an approved FHA and VA lender, (ii) a <br />GNMA-approved seller and issuer of mortgage-backed securities <br />guaranteed by GNMA, (iii) a FNMA -approved seller and servicer for <br />conventional home mortgage loans and (iv) a FHLMC-approved seller <br />and servicer for conventional home mortgage loans. <br />First Nationwide Mortgage Corporation acquired certain assets <br />of Lomas Mortgage USA, Inc. on October 2, 1995. This acquisition <br />included the assets and personnel of Lomas' correspondent lending <br />division, VLB administration, PERS administration and Bond <br />administration. As of January 31, 1995 the Servicer's mortgage <br />loan servicing portfolio balance was approximately 800,000 mortgage <br />loans with a total principal balance in excess of $50 billion. <br />THE SERVICER HAS NOT PARTICIPATED IN THE STRUCTURING OF THE <br />PROGRAM OR THE BONDS OR THE PREPARATION OF THIS OFFICIAI, STATEMENT, <br />EXCEPT TO THE EXTENT OF PROVIDING THE INFORMATION CONTAINED UNDER <br />THIS CAPTION "THE ::ERVICER." THE SERVICER ACCEPTS NO <br />RESPONSIBILITY FOR THE ACCURACY OR COMPLETENESS OF THIS OFFICIAL <br />STATEMENT OR FOR THE BONDS OR THE: CREDITWORTHINESS OF THE: BONDS. <br />Issuance of GNMA Certificates <br />and Fannie Mae Securities <br />The Servicor, pursuant to the Origination Atlre*ement and the <br />S,-ivicing Agreement, has agreed to use its b- t_ efforts to purchase <br />Series A Mortgage Loans originated by ths- Participants in <br />accordance with the terms of the Oriqination Agreement and to <br />submit an appropriate application to CNM.A for commitments for the <br />guaranty by GW4A of the issuance of So -ties A OHM Certificates. <br />Th- :;eraicer shall e7Gmrcise its beat judgment to cause the <br />aggregation of Series A Mortgage Loans to occur to enable the <br />formation of mortgage pools sufficient for the issuance of Series <br />A (I.W.a Osrt if icates and Fannie lies securities in as expeditious a <br />as possible so that aggregate (tort gags loans may be funded <br />I tka"t my delays rnsttIti" to the Part icipants or the mortgeows, <br />Servicer any. in its discretion, maim the dstoraunatiom to <br />t , : • •in for the issuamos of Series A (AM Certificates or Fam us, <br />jr i! ive at sue* tis in the judgment of the se"taer. as <br />1 901"s A *Amos" Liamme ori4tested by tbe <br />r out t wlew t or the tasasae seg loo A alm <br />108 ar Peseta Ilex rsoritLos br tr MWWWat T%o <br />,' , , _, ny�r• tine sertme A MR OW Lia me acct tl awcs i is <br />to <br />