Early Payment Default means any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (or such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.
Early Payment Default means any provision of the Sale Agreement or any related agreement to which NatCity and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.
Early Payment Default means any provision of the Servicing Agreement or any related agreement to which the Servicer and Assignor are parties that is designated as an “early payment default” provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.
Examples of Early Payment Default in a sentence
Cure for an Early Payment Default is repurchase or indemnification, at the sole discretion of Arc.
On Loans closed in Seller’s name and sold to Arc, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates.
Cure for an Early Payment Default is repurchase or indemnification, at the sole discretion of ArcHome.
On Loans closed in Seller’s name and sold to ArcHome, an Early Payment Default (EPD) occurs when any of the first four (4) payments due after purchase of the Loan by ArcHome becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of ArcHome or its affiliates.
These records must include: • A listing, by year, of all Mortgages Loans: o Sampled for pre-Closing and post-Closing QC review; and o Reviewed as an Early Payment Default (EPD) Mortgage Loan.
More Definitions of Early Payment Default
Early Payment Default means a Loan that becomes sixty (60) days delinquent within the first one hundred and twenty (120) days after consummation or within such other time periods as may be set forth in the Guides.
Early Payment Default means a loan for which any of the first four (4) payments due after purchase of the loan by Arc Home becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc Home or its affiliates.
Early Payment Default. As defined in the applicable Mortgage Loan Purchase Agreement or any like term, definition or provision thereunder relating to the Originator’s obligation to repurchase a related Mortgage Loan in accordance with the terms of such Mortgage Loan Purchase Agreement that becomes delinquent or defaults after the sale to the Seller of such Mortgage Loan.
Early Payment Default or “EPD” means a loan for which any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates. "Expiration Date" with respect to any Locked Loan or Mandatory Commitment is that date which the applicable loan file(s) must be received by Arc complete and in purchasable form for the Purchase Price Percentage to be honored.
Early Payment Default means either a Borrower has missed one or more payments under a Mortgage Loan and has not brought said delinquency current prior to the Purchase of the Mortgage Loan by the Servicer, or one of the first three payments due to the Servicer have not been made by the Borrower, in either case which directly results in the Mortgage Loan being ineligible for delivery into a GNMA Security, Xxxxxx Mae Security or Xxxxxxx Mac Security, or the Borrower defaults on the Mortgage Loan by having 3 delinquent payments, one of those payments from the first three payment due to the Servicer, resulting in 90 days delinquency and the Mortgage Loan has been serviced by the Servicer for less than seven months.
Early Payment Default. With respect to the Mortgage Loan purchased under any Purchase Agreement, the failure of the related Mortgagor to make the first two Scheduled Payments due the Owner within thirty (30) days of each Due Date, or such other provision as specified by the Owner to the Servicer. Eligible Investments: Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than one day prior to the Remittance Date in each month (or such other date as permitted under this Agreement):
Early Payment Default. With respect to the Mortgage Loan purchased under any Purchase Agreement, the failure of the related Mortgagor to make the first three Scheduled Payments due the Owner within thirty (30) days of each Due Date, or such other provision as specified by the Owner to the Servicer in the related Mortgage Loan Schedule.