Buydown Mortgage Loans. No Mortgage Loan contains provisions pursuant to which Monthly Payments are (a) paid or partially paid with funds deposited in any separate account established by the Seller, the Mortgagor, or anyone on behalf of the Mortgagor, (b) paid by any source other than the Mortgagor or (c) contains any other similar provisions which may constitute a “buydown” provision.
Buydown Mortgage Loans. Except as identified on the related Data File, no Mortgage Loan is a Buydown Mortgage Loan. With respect to each Mortgage Loan that is a Buydown Mortgage Loan:
Buydown Mortgage Loans. The Mortgage Loan is not a buydown Mortgage Loan.
Buydown Mortgage Loans. No Mortgage Loan is a Buydown Mortgage Loan.
Buydown Mortgage Loans. With respect to each Mortgage Loan that is a Buydown Mortgage Loan: (i) On or before the date of origination of such Mortgage Loan, the Company and the Mortgagor, or the Company, the Mortgagor and the seller of the Mortgaged Property or a third party entered into a Buydown Agreement. The Buydown Agreement provides that the seller of the Mortgaged Property (or third party) shall deliver to the Company temporary Buydown Funds in an amount equal to the aggregate undiscounted amount of payments that, when added to the amount the Mortgagor on such Mortgage Loan is obligated to pay on each Due Date in accordance with the terms of the Buydown Agreement, is equal to the full scheduled Monthly Payment due on such Mortgage Loan. The temporary Buydown Funds enable the Mortgagor to qualify for the Buydown Mortgage Loan. The effective interest rate of a Buydown Mortgage Loan if less than the interest rate set forth in the related Mortgage Note will increase within the Buydown Period as provided in the related Buydown Agreement so that the effective interest rate will be equal to the interest rate as set forth in the related Mortgage Note. The Buydown Mortgage Loan satisfies the requirements of the Company Underwriting Guidelines (other than the exception identified for Exception Mortgage Loans) or the Third-Party Underwriting Guidelines, as applicable;
Buydown Mortgage Loans. Unless provided for in the related Confirmation, no Mortgage Loan contains provisions pursuant to which Monthly Payments are (a) paid or partially paid with funds deposited in any separate account established by the Seller, the Mortgagor, or anyone on behalf of the Mortgagor, (b) paid by any source other than the Mortgagor or (c) contains any other similar provisions which may constitute a “buydown” provision. If Buydown Mortgage Loans are provided for in the related Confirmation, with respect to each Buydown Mortgage Loan:
