Before entering into a Rate LockRate LockAgreement between you and the Investor containing the terms of the Lender-Arranged Sale or Multifamily Trading Desk trade of the Mortgage Loan and the MBS terms and conditions relating to the underlying MBS, if applicable, which may be documented via a recorded telephone conversation. , you must collect a Good Faith DepositGood Faith DepositAmount you collect from the Borrower when originating a Mortgage Loan per . from the BorrowerBorrowerPerson who is the obligor per the Note. in the form of either cash or a letter of credit.
The Good Faith DepositGood Faith DepositAmount you collect from the Borrower when originating a Mortgage Loan per . equals:
- the Minimum Good Faith DepositMinimum Good Faith DepositAmount you are required to collect when originating a Mortgage Loan per . per Part IV, Chapter 2: Rate Lock and Committing, Section 203.02: Minimum Good Faith Deposit; plus
- any additional deposit required by a Third Party MBS InvestorThird Party MBS InvestorMBS Investor for an MBS Mortgage Loan that is not the Multifamily Trading Desk. ; plus
- any other deposit you require.