Negative Amortization Loan definition

Negative Amortization Loan means each Loan that may be subject to Negative Amortization.

Negative Amortization Loan. Each Loan that is identified on the Loan Schedule as a Loan that may be subject to Negative Amortization.

Negative Amortization Loan means any Senior Loan with a feature permitting one or more amounts owing to be capitalized, or which otherwise permits negative amortization of the principal balance, including without limitation, option ARM mortgage loans and reverse mortgage loans.

Examples of Negative Amortization Loan in a sentence

• Dodd-Frank will significantly add to the HMDA data since it requires that the HMDA data also include Origination Channel, Applicant's Age, Applicant's Credit Score, Property Value, Loan Term, Term of any Introductory Interest Rate Period, Rate Spread, Total Points and Fees Payable at Origination, Term of any Prepayment Penalty, Negative Amortization, Loan Originator Unique Identifier, Universal Loan Identifier, and Parcel Loan Number (as the CFPB may determine appropriate).

• A Negative Amortization Loan (also called an Option Arm loan) is a loan that lets you pay some or all of the interest you owe each month.

• In fact the available Lara/Garcias RESPA Disclosure does not account for the complete nature of the Transaction as the RESPA Disclosure completely ignores the finance charges associated with the Second Trust Note, and completely ignores the effects of the Negative Amortization Loan associated with the Transaction.

• In fact, by obtaining a Negative Amortization Loan for the Lara/Garcias, Defendants OSSA, Mortgage Unlimited Broker, and GreenPoint created the impression that the loan could be easily affordable, when in reality the type of loan Defendants gave the Lara/Garcias actually created a higher Yield Spread Premium for themselves.

• As it turns out, due to the nature of their Negative Amortization Loan, and unbeknownst to the Borrowers, the Lara/Garcias’, their principal loan balance actually increased starting on day one, regardless of whether mortgage interest rates decreased or even stayed the same.

More Definitions of Negative Amortization Loan

Negative Amortization Loan. Each Mortgage Loan in Loan Group [ ] that is identified on the Mortgage Loan Schedule (attached as Schedule I) as a Mortgage Loan that is subject to Negative Amortization.]

Negative Amortization Loan means a mortgage loan where for a specified period of time the related borrower or obligor is permitted to make no repayments of principal and payments of interest in amounts that are less than the interest payments that would otherwise be payable thereon based upon the stated rate of interest thereon.

Negative Amortization Loan means a Mortgage Loan whose principal balance will increase over time due to the addition of unpaid interest amounts to the outstanding principal balance of the mortgage loan.

Negative Amortization Loan. Each Mortgage Loan which allows for the capitalization of interest payments thereon as described in the related Mortgage Note.

Negative Amortization Loan. Each Mortgage Loan which contains a provision for negative amortization, as indicated on the Mortgage Loan Schedule.

Negative Amortization Loan means each “Alt-A” credit Loan that is identified on the Loan Data Transmission as a Loan that may be subject to Negative Amortization.

Negative Amortization Loan. A Mortgage Loan in which the Outstanding Principal Balance is subject to a negative amortization feature.