Common use of Origination; Payment Terms Clause in Contracts

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Limit, with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “"interest only” " period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development HUD pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Except with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. Other than with With respect to a Business Purpose Mortgage LoanLoans other than Non-Agency QM Mortgage Loans and Non-Agency Non-QM Mortgage Loans, no Mortgage Loan has a balloon payment featurethe Mortgagor contributed from their own funds to the purchase price for the Mortgaged Property, as required by the applicable Agency. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Rate Cap. The Except with respect to HELOCs, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest interest-only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the ​ ​ Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases cases, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Limit, with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to a balloon payment in the case of a 30/40 Mortgage Loan and subject to an “"interest only” " period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortizationamortization (except with respect to any 30/40 Mortgage Loans). No 30/40 Mortgage Loan has a balloon payment due prior to the date which is 15 years following the origination date. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect The Mortgagor contributed from their own funds to a Business Purpose Mortgage Loanthe purchase price for the Mortgaged Property, no Mortgage Loan has a balloon payment featureas required by the applicable Agency. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) seventy days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, no the Lifetime Rate Cap and the Periodic Rate Cap and the Periodic Rate Floor are as set forth on the related Mortgage Loan has a balloon payment featureSchedule. With respect to adjustable rate Mortgage Loans, the The Mortgage Interest Rate is adjusted adjusted, with respect to Adjustable Rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Periodic Rate Cap. The Mortgage Note is payable on a monthly basis in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans)and interest, which installments of interest (a) interest, with respect to adjustable rate Adjustable Rate Mortgage Loans Loans, are subject to change on the Interest Rate Adjustment Date due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) fifteen years from commencement of amortization. The Due Date of Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first payment under the day of each month. The Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.Loan by its original terms or any modification thereof, does not provide for amoritization beyond its scheduled maturity date;

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than The Mortgage Interest Rate is adjusted, with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Line Agreement with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to a balloon payment in the case of Balloon Loans, 40/30 Mortgage Loans and 50/30 Mortgage Loans and subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) interest, with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date Date, and due to the adjustments to the Mortgage Interest Rate on each Interest Only Rate Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortizationamortization (except with respect to any Forty-Year Mortgage Loan, 40/30 Mortgage Loan or 50/30 Mortgage Loan). With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. The Mortgage Note is payable in Dollars.” “(jj) Capitalization of Interest. Other than with respect to Option ARMs, the Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.”

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable adjustable-rate Mortgage Loans, the Mortgage Interest Rate mortgage interest rate is adjusted on each Interest Rate Adjustment Date interest rate adjustment date to equal to the Index applicable index plus the Gross Margin gross margin (rounded up or down to the nearest 0.125.125%)) as set forth in the related Mortgage Note, subject to the mortgage interest rate cap as set forth in the Mortgage Interest Rate CapNote. The related Mortgage Note is payable on a monthly basis in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date interest rate adjustment date due to adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Date interest rate adjustment date as set forth in the Mortgage Note and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date interest only adjustment date due to adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Only Adjustment Dateinterest only adjustment date as set forth in the Mortgage Note, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date due date of the first payment under the related Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or and interest payments on the Mortgage Loan commenced no more than sixty (60) days [***] after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no No Mortgage Loan has a balloon payment feature. The Mortgagor contributed at least[***] of the purchase price for the Mortgaged Property from their own funds, except as permitted under the applicable Underwriting Guidelines. Interest on the Mortgage Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index index plus the Gross Margin fixed percentage amount, in each case as set forth in the related Mortgage Note (rounded up or down to the nearest 0.125%[***]), subject to the limit on each Mortgage Interest Rate Capadjustment as set forth in the related Mortgage Note. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans)and interest, which installments of interest (a) with respect to adjustable rate Mortgage Loans Loans, are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) seventy days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, no the Lifetime Rate Cap and the Periodic Rate Cap and the Periodic Rate Floor are as set forth on the related Mortgage Loan has a balloon payment featureSchedule. With respect to adjustable rate Mortgage Loans, the The Mortgage Interest Rate is adjusted adjusted, with respect to Adjustable Rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Periodic Rate Cap. The Mortgage Note is payable on a monthly basis in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans)and interest, which installments of interest (a) interest, with respect to adjustable rate Adjustable Rate Mortgage Loans Loans, are subject to change on the Interest Rate Adjustment Date due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. The Due Date of Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first payment under the day of each month. The Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.Loan by its original terms or any modification thereof, does not provide for amoritization beyond its scheduled maturity date;

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the No Mortgage Loan commenced no more than sixty (60) days after funds were disbursed contains terms or provisions which would result in connection negative amortization. The Mortgage Interest Rate is adjusted, with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date equal to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or and interest (subject to except that (i) if the related Mortgage Loan is an “interest only” interest-only loan, no installments of principal shall be payable during the interest-only period in and (ii) if the case of Interest Only Loansrelated Mortgage Loan is a 'balloon' Mortgage Loan, a 'balloon' payment shall be due on the stated maturity date), which installments of interest (a) interest, with respect to adjustable rate Mortgage Loans Loans, are subject to change on the Interest Rate Adjustment Date due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from the commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note."

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than The Mortgage Interest Rate is adjusted, with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Line Agreement with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) interest, with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date Date, and due to the adjustments to the Mortgage Interest Rate on each Interest Only Rate Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. The Mortgage Note is payable in Dollars.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than The Mortgage Interest Rate is adjusted, with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Line Agreement with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to a "balloon" payment in the case of Balloon Loans or an “"interest only” " period in the case of Interest Only Loans), which installments of interest (a) interest, with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date Date, and due to the adjustments to the Mortgage Interest Rate on each Interest Only Rate Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortizationamortization (except with respect to any Forty-Year Mortgage Loans). With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. The Mortgage Note is payable in Dollars."

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable adjustable-rate Mortgage Loans, the Mortgage Interest Rate mortgage interest rate is adjusted on each Interest Rate Adjustment Date interest rate adjustment date to equal to the Index applicable index plus the Gross Margin gross margin (rounded up or down to the nearest 0.125.125%)) as set forth in the Mortgage Note, subject to the mortgage interest rate cap as set forth in the Mortgage Interest Rate CapNote. The Mortgage Note is payable on a monthly basis in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date interest rate adjustment date due to adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Date interest rate adjustment date as set forth in the Mortgage Note and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date interest only adjustment date due to adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Only Adjustment Dateinterest only adjustment date as set forth in the Mortgage Note, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date due date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Other than respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Other than with respect to a HELOC, or the Credit Limit, with respect to a HELOC, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to a balloon payment in the case of a 40/30 Mortgage Loan and a 50/30 Mortgage Loan and subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortizationamortization (except with respect to any 40/30 Mortgage Loan, 50/30 Mortgage Loan or Forty-Year Mortgage Loans). No 40/30 Mortgage Loan or 50/30 Mortgage Loan has a balloon payment due prior to the date which is 15 years following the origination date. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note. With respect to HELOCs, the related Mortgagor may request advances up to the Credit Limit within the first ten years following the date of origination. Each HELOC will amortize within 30 years from the date of origination.”

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no No Mortgage Loan has a balloon payment feature. The Obligor contributed at least five percent (5%) of the purchase price for the Mortgaged Property from their own funds, unless some lesser percentage or a contribution toward the purchase price for the Mortgaged Property provided to the Obligor as a gift is permitted by the Underwriting Guidelines. Interest on the Mortgage Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Mortgage Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Mortgage Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or and interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) 60 days after funds were disbursed in [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. connection with the Mortgage Loan. Other than with respect to a Business Purpose Mortgage Loan, no Mortgage Loan has a balloon payment feature. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125.125%), subject to the Mortgage Interest Rate Cap. The Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest interest-only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases cases, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) 30 years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) 60 days from the date of the Mortgage Note.

Origination; Payment Terms. The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 184, 203 or and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or similar banking institution which is supervised and examined by a federal or state authority. Principal Except with respect to HELOCs, principal and/or interest payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. Other than with With respect to a Business Purpose Mortgage LoanLoans other than Non-Agency QM Mortgage Loans and Non-Agency Non-QM Mortgage Loans, no Mortgage Loan has a balloon payment featurethe Mortgagor contributed from their own funds to the purchase price for the Mortgaged Property, as required by the applicable Agency. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage Interest Rate Cap. The Except with respect to HELOCs, the Mortgage Note is payable on a monthly basis the first day of each month in equal monthly installments of principal and/or interest (subject to an “interest interest-only” period in the case of Interest Only Loans), which installments of interest (a) with respect to adjustable rate Mortgage Loans are subject to change on the Interest Rate Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases cases, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. The Due Date of the first payment under the Mortgage Note is no more than sixty (60) days from the date of the Mortgage Note.