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Aurora will provide a Mortgage Loan Representitive(s) to the Bank at no cost, to originate the Bank's loans.
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Aurora discloses, processes, underwrites, and prepares closing documents in the name of the Bank, all in the Bank's name. All applications and closing documents are bank-customized.
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Aurora purchases the closed loans from the bank on a non-recourse basis after closing.
- There is no cost to the Bank for any loan in the Bank's pipeline that does not close.
- Aurora will use the Bank's approved appraisers for all Bank appraisals.
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