The Mortgage Loan Purchase And Sale Agreement is a critical document used in the Canadian financial services industry when one financial institution wishes to sell part or all of its mortgage loan portfolio to another institution. This transaction type is common in various scenarios, including portfolio rebalancing, regulatory capital management, or as part of securitization programs. The agreement must comply with Canadian federal legislation such as the Bank Act and provincial property laws, while also addressing specific Canadian mortgage market features like CMHC insurance. It typically includes detailed schedules specifying the mortgage loans being sold, their characteristics, pricing mechanisms, and required documentation. The agreement is particularly important in the Canadian context given the unique nature of Canadian mortgage laws and the significant role of insured mortgages in the market.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the seller and purchaser of the mortgage loans
2. Background: Context of the transaction and brief description of the parties' business relationship
3. Definitions: Detailed definitions of terms used throughout the agreement
4. Purchase and Sale: Core transaction terms including purchase price, payment mechanisms, and closing conditions
5. Eligibility Criteria: Specific requirements that mortgage loans must meet to be eligible for purchase
6. Representations and Warranties: Seller's representations regarding the mortgage loans and general business matters
7. Transfer and Delivery: Process and requirements for transferring mortgage loans and related documentation
8. Purchase Price and Payment Terms: Detailed pricing methodology and payment procedures
9. Covenants: Ongoing obligations of both parties
10. Repurchase Obligations: Circumstances requiring the seller to repurchase mortgage loans
11. Indemnification: Mutual indemnification provisions and procedures
12. Term and Termination: Duration of agreement and termination rights
13. Confidentiality: Protection of confidential information and trade secrets
14. Notice Provisions: Methods and requirements for formal communications between parties
15. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution
16. General Provisions: Standard boilerplate clauses including assignment, amendments, and severability
1. Servicing Rights: Terms regarding the transfer or retention of mortgage servicing rights, included when servicing rights are part of the transaction
2. Portfolio Management: Provisions for ongoing management of the mortgage portfolio, included for complex or ongoing purchase arrangements
3. Custodial Arrangements: Terms regarding document custody, included when a third-party custodian is involved
4. Government Insurance: Special provisions for government-insured mortgages, included when CMHC-insured loans are involved
5. Electronic Records: Provisions for electronic record-keeping and transfers, included when electronic documentation is primary
6. Data Protection: Enhanced privacy and data security provisions, included when significant personal data is involved
7. Foreign Currency Provisions: Terms for handling foreign currency mortgages, included when non-CAD loans are involved
8. Future Flow Provisions: Terms for ongoing loan purchases, included in master agreement arrangements
1. Schedule A - Mortgage Loan Schedule: Detailed list of mortgage loans being purchased, including key characteristics
2. Schedule B - Eligibility Criteria: Detailed specifications of required loan characteristics and documentation
3. Schedule C - Purchase Price Calculation: Methodology and formulas for determining purchase price
4. Schedule D - Required Documentation: List of required documents for each mortgage loan
5. Schedule E - Transfer Procedures: Detailed procedures for loan transfer and registration
6. Schedule F - Servicing Standards: Standards for mortgage servicing if applicable
7. Schedule G - Form of Transfer/Assignment: Standard forms for transferring mortgage rights
8. Appendix 1 - Due Diligence Checklist: Checklist for loan file review and due diligence
9. Appendix 2 - Representations and Warranties Compliance Certificate: Form of compliance certificate for ongoing representations
10. Appendix 3 - Notice of Sale to Borrowers: Template for notifying borrowers of the sale of their mortgage
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Real Estate
Mortgage Lending
Investment Management
Insurance
Capital Markets
Asset Management
Relevant Teams
Legal
Finance
Risk Management
Compliance
Treasury
Mortgage Operations
Credit
Due Diligence
Portfolio Management
Document Management
Loan Administration
Capital Markets
Relevant Roles
Chief Financial Officer
General Counsel
Head of Mortgage Operations
Risk Manager
Compliance Officer
Portfolio Manager
Treasury Manager
Legal Counsel
Mortgage Operations Manager
Credit Risk Officer
Due Diligence Manager
Document Custody Manager
Loan Servicing Manager
Financial Controller
Investment Manager
Find the exact document you need
Commercial Loan Contract
Canadian-law governed agreement establishing terms and conditions for a commercial loan between a financial institution and business entity.
find out more
Soft Loan Agreement
A Canadian-law governed agreement for establishing terms of a loan with flexible or favorable conditions, typically featuring below-market rates or lenient repayment terms.
find out more
Cash Loan Simple Loan Agreement
A Canadian-compliant agreement documenting the terms and conditions of a straightforward cash loan between a lender and borrower, including principal, interest, and repayment terms.
find out more
Interest Loan Agreement
Canadian-law governed agreement establishing terms for an interest-bearing loan, including principal, interest calculations, and repayment conditions.
find out more
Intercreditor Deed
A Canadian law agreement establishing priorities and relationships between multiple creditors in a secured financing structure, governing payment rights, security interests, and enforcement procedures.
find out more
Co Financing Agreement
A Canadian-law governed agreement establishing terms for multiple lenders to jointly provide financing to a borrower, including inter-creditor arrangements and regulatory compliance requirements.
find out more
Simple Business Loan Agreement
A Canadian-law governed agreement establishing terms and conditions for a business loan, including amount, interest, repayment schedule, and security arrangements.
find out more
Royalty Financing Agreement
Canadian-law governed agreement establishing terms for funding in exchange for ongoing royalty payments, typically based on company revenue or profits.
find out more
Overfacility Agreement
A Canadian-law governed agreement establishing terms for additional credit facilities beyond existing lending arrangements, compliant with federal and provincial banking regulations.
find out more
Seller Financing Business Contract
A Canadian law-governed contract for business sale with seller-provided financing, incorporating security interests and payment terms under federal and provincial legislation.
find out more
Mortgage Loan Assumption Agreement
A Canadian legal document that enables the transfer of mortgage obligations from an existing borrower to a new party, subject to lender approval and compliance with federal and provincial regulations.
find out more
Co Borrower Loan Agreement
A Canadian legal agreement establishing terms and conditions for multiple borrowers to jointly obtain and repay a loan, with joint and several liability provisions.
find out more
Car Installment Contract
A Canadian-law governed agreement for the purchase of a vehicle through structured installment payments, establishing financing terms and security interests between buyer and seller/lender.
find out more
Vehicle Payment Plan Agreement
A Canadian-compliant financing agreement that establishes terms and conditions for vehicle purchase payments, including security interests and consumer protections under federal and provincial law.
find out more
Undertaking Loan Agreement
Canadian-law governed loan agreement with undertaking provisions, establishing terms for lending, borrower obligations, and compliance requirements.
find out more
Trade Finance Facility Agreement
Canadian-law governed agreement establishing terms for trade finance facilities between lenders and borrowers, including security arrangements and regulatory compliance requirements.
find out more
Trade Finance Agreement
Canadian-law governed agreement establishing trade finance facilities between a financial institution and commercial entity, including terms for various trade finance products and compliance requirements.
find out more
Simple Equipment Lease
A Canadian law-governed agreement establishing terms and conditions for equipment leasing between a lessor and lessee, including payment, maintenance, and liability provisions.
find out more
Simple Owner Finance Contract
A Canadian legal agreement where the property seller directly finances the buyer's purchase, combining property sale and financing terms under Canadian federal and provincial laws.
find out more
Separation Financial Agreement
A legally binding Canadian agreement detailing the complete financial arrangements between separating spouses, including asset division and ongoing obligations.
find out more
Real Estate Loan Agreement
A Canadian-law governed agreement establishing terms for real estate-secured financing, including loan conditions, security arrangements, and party obligations.
find out more
Personal Mortgage Loan Agreement
Canadian-law governed agreement between a financial institution and borrower establishing terms and security for a personal mortgage loan.
find out more
Official Loan Agreement
A legally binding loan agreement compliant with Canadian federal and provincial laws, establishing terms and conditions for formal lending arrangements.
find out more
Master Loan Agreement
A Canadian-law governed agreement establishing the framework for multiple potential loans between a lender and borrower, setting out core terms and conditions for lending facilities.
find out more
Margin Loan Agreement
A Canadian-law governed agreement establishing terms for margin lending facilities, including collateral requirements, maintenance obligations, and regulatory compliance measures.
find out more
Loan Swap Agreement
A Canadian law-governed agreement establishing terms for loan-related swap transactions between parties, including payment obligations and regulatory compliance requirements.
find out more
Loan Note Agreement
A Canadian-law governed agreement establishing loan terms between lender and borrower, including amount, interest, repayment schedule, and security arrangements.
find out more
Loan Agreement Between Spouses
A Canadian legal agreement documenting a loan between spouses, setting out loan terms and conditions while complying with federal and provincial family law and tax requirements.
find out more
Financing Contract Agreement
A Canadian-law governed agreement establishing the terms and conditions of a financing arrangement, including loan details, security provisions, and party obligations.
find out more
Financial Agreement Between Two Parties
Canadian-law financial agreement template establishing terms and conditions for financial arrangements between two parties, incorporating federal and provincial compliance requirements.
find out more
Equipment Lease Purchase Option
A Canadian-law governed agreement establishing terms for equipment lease with a purchase option, including payment terms, maintenance requirements, and purchase option conditions.
find out more
Equipment Lease Purchase Agreement
A Canadian-law governed agreement combining equipment lease terms with a purchase option, establishing rights and obligations for both lessor and lessee.
find out more
Car Loan Agreement Between Individuals
A Canadian-law governed agreement establishing terms and security for a private car loan between individuals, including loan details and vehicle security provisions.
find out more
Business Loan Contract
A Canadian-law governed agreement establishing terms and conditions for a business loan between a lender and business borrower.
find out more
Auto Finance Contract
A Canadian-compliant contract governing vehicle financing terms between a lender and borrower, subject to federal and provincial banking and consumer protection laws.
find out more
Partnership Deed For Finance Business
A Canadian-law governed partnership agreement for establishing and operating a financial services business, incorporating relevant regulatory requirements and operational frameworks.
find out more
Owner Financing Business Contract
A Canadian legal agreement for business sales with owner financing, establishing sale terms, financing conditions, and security arrangements under federal and provincial law.
find out more
Rehabilitation Loan Agreement
A Canadian legal agreement governing the terms of a loan provided for property rehabilitation, including financing terms, construction requirements, and regulatory compliance.
find out more
Bill Of Sale Finance Agreement
A Canadian law-governed agreement combining asset sale terms with financing arrangements, securing the finance provider's interest until full payment is received.
find out more
Mortgage Loan Purchase And Sale Agreement
A Canadian-law governed agreement for the purchase and sale of mortgage loans between financial institutions, establishing terms for loan transfer and related obligations.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)