Fannie Mae-No Politics (FNMA)

[clarencebeaks21]

“Considering that…” or “Given the fact that…”.

In contract law, the word ‘whereas’ is traditionally used in the very beginning section, called Recitals. Its use in that context is just a traditional way to state some background facts. But the general rule is that nothing stated in Recitals is binding on either party as a term or condition or otherwise. So again it’s really just a tradition. And a waste of ink.