60+ Day Delinquent Loan. Each Mortgage Loan (including each Mortgage Loan in foreclosure and each Mortgage Loan for which the Mortgagor has filed for bankruptcy after the Closing Date) with respect to which any portion of a Monthly Payment is, as of the last day of the prior Collection Period, two months or more past due and each Mortgage Loan relating to an REO Property.
60+ Day Delinquent Loan. With respect to any Determination Date, all REO Properties and each Home Equity Loan, with respect to which any portion of a Monthly Payment is, as of the last day of the prior Remittance Period, two months (calculated from Due Date with respect to such Home Equity Loan to Due Date) or more past due (without giving effect to any grace period).
60+ Day Delinquent Loan. With respect to any Remittance Period, and without duplication, (i) all REO Properties as of the last day of such Remittance Period, (ii) each Home Equity Loan with respect to which any portion of a Monthly Payment is, as of the last day of such Remittance Period 60 or more days Delinquent (without giving effect to any grace period), (iii) each Home Equity Loan in foreclosure as of the last day of such Remittance Period and (iv) each Home Equity Loan described in clause (ii) that is also in bankruptcy. “60+ Delinquency Percentage (Rolling Three Month)”: With respect to any Distribution Date, the average of the percentage equivalents of the fractions determined for each of the three immediately preceding Remittance Periods (or such fewer number of Remittance Periods since the Cut-Off Date, in the case of the first two Distribution Dates) the numerator of each of which is equal to the sum of (without duplication) the aggregate Loan Balance of 60-Day Delinquent Loans for such Remittance Period, and the denominator of which is the Loan Balance of all of the Home Equity Loans as of the end of such Remittance Period.
Examples of 60+ Day Delinquent Loan in a sentence
The Depositor shall purchase any such 60+ Day Delinquent Loan or REO Property that it elects to purchase at a price equal to the Purchase Price.
The Servicer may, at its option, with the consent of the Depositor, repurchase any 60+ Day Delinquent Loan or any Mortgage Loan or REO Property for which the Servicer has accepted a deed in lieu of foreclosure.
A 60+ Day Delinquent Loan is any Mortgage Loan (including each Mortgage Loan in foreclosure and each Mortgage Loan for which the related mortgagor has filed for bankruptcy after the Closing Date) with respect to which any portion of a monthly payment is, as of the last day of the prior Collection Period, two months or more past due and each Mortgage Loan relating to REO property.
Any mortgage loan which, on a 3-month rolling average basis, has made its scheduled principal and interest payments, will not be considered to be a 60+ Day Delinquent Loan.
Type 3: Water-cooled self-contained units with electric heat (heating element by tenant).Type 4: Air-cooled self-contained units with electric heat (heating element by tenant).
More Definitions of 60+ Day Delinquent Loan
60+ Day Delinquent Loan. With respect to any Remittance Period, and without duplication, (i) all REO Properties as of the last day of such Remittance Period, (ii) each Home Equity Loan with respect to which any portion of a Monthly Payment is, as of the last day of such Remittance Period, two months (calculated from Due Date with respect to such Home Equity Loan to Due Date) or more past due (without giving effect to any grace period), (iii) each Home Equity Loan in foreclosure as of the last day of such Remittance Period and (iv) each Home Equity Loan described in clause (ii) that is also in bankruptcy.
60+ Day Delinquent Loan. Without duplication, (i) each Mortgage Loan with respect to which any portion of a Monthly Payment is, as of the last calendar day of the prior Collection Period, two months or more past due (other than a Re-Performing 60+ Day Delinquent Loan), (ii) each Mortgage Loan in foreclosure (other than a Re-Performing 60+ Day Delinquent Loan), (iii) each Mortgage Loan for which the Mortgagor has filed for bankruptcy after the Closing Date (other than a Re-Performing 60+ Day Delinquent Loan) and (iv) all REO Property.
60+ Day Delinquent Loan. With respect to any Determination Date, all REO Properties, each Home Equity Loan with respect to which any portion of a Monthly Payment is, as of the last day of the prior Remittance Period, two months or more past due (without giving effect to any grace period), each Home Equity Loan in Foreclosure and each Home Equity Loan for which the mortgagor has filed for bankruptcy.
60+ Day Delinquent Loan means a Loan which is more than fifty-nine (59) days Delinquent but less than ninety (90) days Delinquent.
60+ Day Delinquent Loan. As of any day during any calendar month, each Mortgage Loan in foreclosure, all REO Property, each Mortgage Loan for which the Mortgagor has filed for bankruptcy, and each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the Remittance Period before the Remittance Period ending in the calendar month, two months or more past due (without giving effect to any grace period). For instance, in making a determination on the Distribution Date in January (January 25) with respect to a Mortgage Loan whose Scheduled Payment for November is delinquent (and that has no previous Scheduled Payment that is delinquent), that Mortgage Loan would not be a 60+ Day Delinquent Loan because as of the last day of the Remittance Period before the Remittance Period ending in January (which would be the Remittance Period ending in December (on December 1)), the Scheduled Payment for November (due November 1) would only be one month past due.
60+ Day Delinquent Loan. Each Mortgagee Loan with respect to which any portion of a scheduled monthly payment is, as of the last day of the prior Collection Period, two months or more past due (without giving effect to any grace period), each Mortgage Loan in foreclosure, all REO Property and each Mortgage Loan for which the Mortgagor has filed for bankruptcy.
60+ Day Delinquent Loan means each mortgage loan with respect to which any portion of a Scheduled Payment is 60 days or more past due (without giving effect to any grace period) as of the last day of any prior month and all REO property.