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Mortgage Loan Purchase And Sale Agreement for United Arab Emirates

Mortgage Loan Purchase And Sale Agreement Template for United Arab Emirates

A comprehensive legal agreement governed by UAE law that facilitates the sale and transfer of mortgage loans between financial institutions. The document incorporates UAE Central Bank regulations, federal real estate laws, and emirate-specific property requirements. It details the terms of the transaction, including loan portfolio specifications, purchase price mechanisms, representations and warranties, and compliance requirements under UAE banking and property laws. The agreement also addresses necessary regulatory approvals and registration requirements specific to UAE mortgage transfers.

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Mortgage Loan Purchase And Sale Agreement

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What is a Mortgage Loan Purchase And Sale Agreement?

The Mortgage Loan Purchase And Sale Agreement is essential for financial institutions operating in the UAE who wish to transfer or acquire mortgage loan portfolios. This document is commonly used in portfolio sales, securitization transactions, or strategic realignment of loan books. It must comply with UAE Federal Laws, Central Bank regulations, and emirate-specific property laws. The agreement covers crucial elements such as loan eligibility criteria, transfer mechanics, regulatory compliance requirements, and ongoing servicing arrangements. It's particularly relevant in the UAE market where both conventional and Islamic mortgage structures need to be considered, and where specific registration requirements apply at both federal and emirate levels. The document ensures proper transfer of security interests and maintains compliance with local mortgage regulations.

What sections should be included in a Mortgage Loan Purchase And Sale Agreement?

1. Parties: Identification of the Seller and Purchaser, including their full legal names, licenses, and registration details as per UAE requirements

2. Background: Context of the transaction, including the Seller's ownership of the mortgage loans and the parties' intention to enter into the purchase and sale transaction

3. Definitions and Interpretation: Comprehensive definitions of terms used throughout the agreement and rules of interpretation

4. Sale and Purchase: Core transaction terms including the agreement to sell and purchase the mortgage loans

5. Purchase Price and Payment: Details of the purchase price, calculation methodology, and payment terms

6. Conditions Precedent: Prerequisites that must be satisfied before completion of the transaction

7. Completion: Process and requirements for completing the transfer of the mortgage loans

8. Representations and Warranties: Statements of fact and assurances from both parties, particularly regarding loan quality and compliance with UAE law

9. Seller's Covenants: Ongoing obligations of the Seller, including document delivery and cooperation requirements

10. Regulatory Compliance: Specific provisions ensuring compliance with UAE Central Bank regulations and other applicable laws

11. Confidentiality: Provisions regarding the confidential treatment of transaction information

12. Notices: Process and requirements for formal communications between parties

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

What sections are optional to include in a Mortgage Loan Purchase And Sale Agreement?

1. Servicing Arrangements: Required if the Seller will continue to service the mortgage loans post-sale

2. Multiple Closings: Needed for transactions involving multiple tranches or staged purchases

3. Security Interest: Required if additional security arrangements are needed beyond the mortgage transfer

4. Post-Closing Adjustments: Used when the final purchase price may be subject to post-closing adjustments

5. Data Protection: Required when detailed personal data handling procedures need to be specified

6. Islamic Finance Compliance: Necessary for Sharia-compliant transactions

7. Foreign Exchange Provisions: Required when the transaction involves multiple currencies

8. Special Purpose Vehicle Provisions: Needed when the purchase involves an SPV structure

What schedules should be included in a Mortgage Loan Purchase And Sale Agreement?

1. Schedule 1 - Mortgage Loan Schedule: Detailed list of all mortgage loans being sold, including key characteristics and values

2. Schedule 2 - Loan Documents: List of all required documentation for each mortgage loan

3. Schedule 3 - Eligibility Criteria: Specific criteria that each mortgage loan must meet

4. Schedule 4 - Form of Transfer Documents: Templates for transfer documentation required under UAE law

5. Schedule 5 - Due Diligence Findings: Summary of due diligence results and any identified issues

6. Schedule 6 - Property Details: Details of the underlying properties securing the mortgage loans

7. Appendix A - Completion Checklist: Detailed checklist of all requirements for completion

8. Appendix B - Required Regulatory Approvals: List of required regulatory approvals and their status

Authors

Alex Denne

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

Document Type

Financing Agreement

Cost

Free to use
Relevant legal definitions




































Clauses






























Relevant Industries

Banking

Financial Services

Real Estate

Mortgage Finance

Investment Banking

Islamic Banking

Asset Management

Property Development

Relevant Teams

Legal

Compliance

Risk Management

Finance

Treasury

Real Estate Finance

Islamic Banking

Credit Risk

Operations

Due Diligence

Portfolio Management

Regulatory Affairs

Relevant Roles

Chief Financial Officer

Head of Mortgage Finance

Legal Counsel

Compliance Officer

Risk Manager

Portfolio Manager

Treasury Manager

Real Estate Finance Manager

Islamic Banking Officer

Credit Risk Officer

Transaction Manager

Due Diligence Manager

Mortgage Operations 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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