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A Mortgage Loan Purchase Agreement is essential when financial institutions wish to buy or sell portfolios of mortgage loans. This document is commonly used in the United States secondary mortgage market, where loans are frequently traded between institutions. The agreement ensures compliance with federal and state regulations while protecting both parties' interests through detailed representations, warranties, and remedies. It typically includes comprehensive information about the loan portfolio, pricing mechanisms, servicing arrangements, and regulatory compliance requirements.

1. Parties: Identifies the seller and purchaser of the mortgage loans

2. Background/Recitals: Sets forth the context and purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Purchase and Sale: Details the terms of the purchase and sale transaction

5. Purchase Price and Payment: Specifies the purchase price and payment mechanisms

6. Representations and Warranties: Lists seller's representations about the loans and compliance with laws

7. Remedies and Indemnification: Details remedies for breach and indemnification obligations

8. Transfer of Servicing: Addresses the transfer of loan servicing rights and obligations

9. Governing Law: Specifies applicable law and jurisdiction