Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.ĭebt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction. Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium. The Commercial Loan Sweep Service permits you to link your designated Treasury Account toyour Line of Credit with us to allow available funds in your Treasury Account to be used to pay down loan advances under the Line of Credit, and to allow available funds from the Line of Credit to be applied to debits and other withdrawals made from your Treasury Account. The Bank will make a transfer from Borrower's Business Access Line of Credit to Borrower's Checking Account in the amount necessary to bring the Borrower’s Checking Account to a positive balance, less the Loan Sweep Transfer Fee (up to the credit limit) (“ Loan Sweep Transfer”). He also stated that the membership continued to grow, despite a fee increase.Ī “ Loan Sweep Transfer Fee” will be charged to Borrower’s Checking Account for each Loan Sweep Transfer and may appear as a “Credit Line Transfer Fee”, “ Loan Sweep Transfer Fee” or “Immediate Service Fee” on the Borrower’s Checking Account statement.īremer may terminate Customer’s use of the Loan Sweep at any time, with or without cause. The Loan Sweep will also automatically terminate at the maturity of the Loan. The Bank and the Borrower each acknowledge that they have entered into the Loan Sweep Agreement, and while such Agreement is in effect the Bank shall have the right to make advances under the Revolving Credit Facility, and to sweep the Deposit Account (as defined in the Loan Sweep Agreement), all as provided in the Loan Sweep Agreement. Notwithstanding anything to the contrary contained in this Section 2.3, all borrowing requests and all disbursements in connection with Cash Management Swingline Loans shall be made pursuant to, and in accordance with, the Loan Sweep Agreement. This Loan Sweep Service creates an automated sweep arrangement between a deposit account and a line of credit for purposes of initiating principal advances or repayments against a line of credit. IntraFi Cash Service and the IntraFi hexagon are service marks, and IntraFi, ICS, and CDARS are registered service marks, of IntraFi Network LLC.If Customer participates in a bank sweep product or automated cash management program, and in the event of a bank failure, Customer’s eligibility for deposit insurance and the status of Customer’s funds as an insured deposit may be impacted as follows: Loan Sweep – funds swept out of Customer’s deposit Account will be used to reduce Customer’s loan balance remaining funds in Customer’s deposit Account are eligible for deposit insurance. The depositor may exclude banks from eligibility to receive its funds. A list identifying IntraFi network banks appears at. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank).

Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements.

Sweep credit