Convertible Mortgage Loan. Any Adjustable Rate Mortgage Loan that contains a provision whereby the Mortgagor is permitted to convert the Mortgage Loan to a fixed-rate mortgage loan in accordance with the terms of the related Mortgage Note.
Appears in 4 contracts
Samples: Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar3), Mortgage Loan Servicing Rights Purchase and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Ar2), Mortgage Loan Purchase Agreement (ECC Capital CORP)
Convertible Mortgage Loan. Any An Adjustable Rate Mortgage Loan that contains a provision whereby by its terms and subject to certain conditions allows the Mortgagor is permitted to convert the adjustable Mortgage Loan Interest Rate thereon to a fixed-rate mortgage loan in accordance with the terms of the related fixed Mortgage NoteInterest Rate.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Sunset Financial Resources Inc)
