106 Lender Organizational Changes

Lenders must send written notice to DCA of any major organizational changes contemplated, including, but not limited to:  

1. resignation or replacement of any senior management personnel;
2. mergers, consolidations or reorganizations;
3. changes in ownership of over 5% by whatever means;
4. a change in corporate name;
5. a change in a savings and loan association's charter from federal to state or vice versa or change to a banking association; and
6. a change in your financial position which would render you unable to honor the Loan Seller Agreement.

Lenders must notify the DCA’s Program Specialist by email of any changes in primary business office address, email or wiring instructions within five (5) Business Days of the change. On a periodic basis, Lender may be asked to verify addresses, telephone numbers, primary contacts and email addresses.