Adjustable Rate Loans. If an Adjustable Rate Loan, it is covered by an American Land Title Association lender's title insurance policy, with an adjustable rate mortgage endorsement, such endorsement substantially in the form of ALTA Form 6.0 or 6.
1. The applicable terms of the Adjustable Rate Loan pertaining to adjustments of the Loan Interest Rate and the monthly payment and payment adjustments in connection therewith are enforceable and will not affect the priority of the lien of the related mortgage. The Loan Interest Rate and monthly payment on the Adjustable Rate Loan have been timely and appropriately adjusted, if such adjustment is required, and the respective Obligor timely and appropriately advised.
Adjustable Rate Loans. Each adjustable rate Mortgage Loan contains a provision requiring conversion to a fixed interest rate Mortgage Loan and all rate adjustments have been performed in accordance with the terms of the related Mortgage Note.
Adjustable Rate Loans. Except as disclosed in Schedule 4.23(k) under the Disclosure Letter, with respect to each ARM Loan, each of the Company and its Company Subsidiaries and each Prior Servicer has (i) properly and accurately entered into its system all data required to service the Mortgage Loan in accordance with all Applicable Requirements, (ii) properly and accurately adjusted the mortgage interest rate on each interest adjustment date, (iii) properly and accurately adjusted the monthly payment on each payment adjustment date, (iv) properly and accurately calculated the amortization of principal and interest on each payment adjustment date, in each case in compliance with all Applicable Requirements, and (v) executed and delivered any and all necessary notices required under, and in a form that complies with, all Applicable Requirements regarding the interest rate and payment adjustments.
Adjustable Rate Loans. A qualified lender must provide the following in- formation for adjustable rate loans in addition to the requirements of para- graph (a) of this section:
(1) The circumstances under which the rate can be adjusted;
(2) How much the rate can be ad- justed at any one time and how much the rate can be adjusted during the term of the loan;
(3) How often the rate can be ad- justed;
(4) Any limitations on the amount or frequency of adjustments;
(5) The specific factors that the qualified lender may take into account in making adjustments to the interest rate on the loan; and
(6) If the borrower’s interest rate is directly tied to a widely publicized ex- ternal index:
Adjustable Rate Loans. Number of Aggregate % of Aggregate Range of Margin Home Equity Loans Loan Balance Loan Balance ------------------------------------------------------------------------------------------------------------------- 0.01% - 4.00% 2 $ 254,678.32 0.16% 4.01 - 5.00 54 7,386,667.89 4.62 5.01 - 6.00 357 44,281,131.69 27.68 6.01 - 7.00 601 65,145,707.64 40.72 7.01 - 8.00 372 33,787,993.61 21.12 8.01 - 9.00 84 6,813,863.18 4.26 9.01 - 10.00 17 1,612,440.15 1.01 10.01 - 11.00 10 617,759.91 0.39 11.01 - 12.00 1 22,393.52 0.01 12.01 - 13.00% 1 77,642.29 0.05 ---------------------------------------------------------------------------------------------------------------- TOTAL 1,499 $160,000,278.20 100.00% 46 ================================================================================ The above analysis is not intended to be a prospectus and any investment decision with respect to the security should be made by you based solely upon all of the information contained in the final prospectus. Under no circumstances shall the information presented constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities may not be sold nor may an offer to buy be accepted prior to the delivery of a final prospectus relating to the securities. The above preliminary description of the underlying assets has been provided by the issuer and has not been independently verified by Credit Suisse First Boston. All information described above is preliminary, limited in nature and subject to completion or amendment. Credit Suisse First Boston makes no representations that the above referenced security will actually perform as described in any scenario presented. CREDIT FIRST SUISSE BOSTON CONTIMORTGAGE HOME EQUITY LOAN TRUST 1999-3 -------------------------------------------------------------------------------- Computational Materials Group II Home Equity Loans Distribution of Maximum Coupon Rates - Adjustable Rate Loans Range of Maximum Number of Aggregate % of Aggregate Coupon Rates Home Equity Loans Loan Balance Loan Balance -------------------------------------------------------------------------------------------------------- 12.01% - 13.00% 1 $ 288,737.43 0.18% 13.01 - 14.00 5 439,131.18 0.27 14.01 - 15.00 99 13,427,232.19 8.39 15.01 - 16.00 397 46,314,554.50 28...
Adjustable Rate Loans. Prepay Number of Aggregate % of Aggregate Penalty Home Equity Loans Loan Balance Loan Balance -------------------------------------------------------------------------------------------------------------------- Yes 1,261 $134,769,684.35 84.23% No 238 25,230,593.85 15.77 -------------------------------------------------------------------------------------------------------------------- TOTAL 1,499 $160,000,278.20 100.00%
Adjustable Rate Loans. Except as shown on the Mortgage Loan Schedule, no Mortgage Loan that has an adjustable interest rate is convertible by the Mortgagor into a fixed rate loan and no fixed rate loan is convertible by the Mortgagor into an adjustable rate loan.
Adjustable Rate Loans. With respect to each Adjustable Rate Loan, each of the Related Companies and each Prior Servicer has (i) properly and accurately entered into its system, or subsequently corrected, all data required to service the Mortgage Loan in accordance with all Applicable Requirements, (ii) properly and accurately adjusted or subsequently corrected, the mortgage interest rate on each interest adjustment date, (iii) properly and accurately adjusted, or subsequently corrected, the monthly payment on each payment adjustment date, (iv) properly and accurately calculated, or subsequently corrected, the amortization of principal and interest on each payment adjustment date, in each case in compliance with all Applicable Requirements, and (v) executed and delivered any and all necessary notices required under, and in a form that complies with, all Applicable Requirements regarding interest rate and payment adjustments. Purchasers acknowledge that Sellers and the Company do not necessarily have actual knowledge with respect to the matters addressed in this Section 5.5, and Sellers acknowledge that the representations and warranties made in this Section 5.5 are intended to allocate risk of loss to Sellers for the purposes of Article XI hereof.
Adjustable Rate Loans. If a Mortgage Loan is an adjustable rate loan, the Seller has properly calculated adjustments in the interest rate and monthly payment for each adjustment date and has notified the related Mortgagor of such adjustments, all in accordance with related Mortgage Note and applicable law.
Adjustable Rate Loans. The Adjustable Rate Loans have the following --------------------- characteristics: (i) 100% are secured by a mortgage, deed of trust or security deed creating a first lien on the related real estate; (ii) none has a remaining maturity of more than 360 months; (iii) no Initial or Additional Adjustable Rate Loan has a final scheduled payment date later than October 2030 and no such Subsequent Loan has a final scheduled payment date later than January 2031; (iv) the Loan Interest Rate on each is subject to semiannual adjustment, after an initial period of up to 37 months, to equal the sum of (A) the per annum rate equal to the average of interbank offered rates for six-month U.S. dollar- denominated deposits in the London market based on quotations of major banks, as published in The Wall Street Journal, plus (B) a fixed percentage amount specified in the related Loan (the "gross margin"), provided that the Loan -------- Interest Rate will not increase or decrease on any adjustment date by more than 7.00% per annum and will not exceed a maximum rate specified in the related Loan; (v) none has a gross margin of less than 3.0% or more than 9.25%; and (vi) none had a principal balance at origination of more than $350,000.
