Actual/360 Mortgage Loan definition

Actual/360 Mortgage Loan. A Mortgage Loan that accrues interest on an Actual/360 Basis.
Actual/360 Mortgage Loan. Each Mortgage Loan that accrues interest on an Actual/360 Basis and that is identified as an Actual/360 Mortgage Loan on the Mortgage Loan Schedule.
Actual/360 Mortgage Loan. Each Mortgage Loan that accrues interest on the basis of the actual number of days elapsed in a year consisting of 360 days, identified as an Actual-360 Mortgage Loan on the Mortgage Loan Schedule.

Examples of Actual/360 Mortgage Loan in a sentence

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to one (1) day of interest at the related Net Mortgage Rate on the related Stated Principal Balance as of the Cut-off Date.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to two (2) days of interest at the related Net Mortgage Rate on the related Stated Principal Balance as of the Cut-off Date.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to two (2) days of interest at the related Net Mortgage Rate on the related Cut-off Date Balance.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to one day of interest at the related Net Mortgage Rate on the related Cut-off Date Balance.

  • On the Closing Date, the Seller shall cause to be delivered to the Purchaser with respect to each Actual/360 Mortgage Loan, an amount equal to one (1) day of interest at the related Net Mortgage Rate on the related Cut-off Date Balance.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to one (1) day of interest at the related Net Mortgage Rate on the related Cut-off Date Balance.

  • In addition, on the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Purchaser with respect to each Actual/360 Mortgage Loan, an amount equal to one (1) day of interest at the related Net Mortgage Rate on the related Cut-off Date Balance.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to two (2) days of interest on the Cut-off Date Balance of such Mortgage Loan at the related Net Mortgage Rate.

  • On the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor with respect to each Actual/360 Mortgage Loan, an amount equal to two (2) days of interest on the Cut-off Date Balance of such Mortgage Loan at the at the related Net Mortgage Rate.

  • In addition, on the Closing Date, the Seller shall cause to be delivered to the Depositor, for deposit into the Interest Reserve Account with respect to each Actual/360 Mortgage Loan, an Interest Deposit Amount equal to two (2) days of interest on the Cut-off Date Balance of such Mortgage Loan at the related Net Mortgage Rate.


More Definitions of Actual/360 Mortgage Loan

Actual/360 Mortgage Loan. Each Mortgage Loan that accrues interest on an Actual/360 Basis and that is identified as an Actual/360 Mortgage Loan on the Mortgage Loan Schedule. With respect to Mortgage Loan (control number 9821048) that accrues interest only for a portion of its amortization term, such Mortgage Loan shall only be an "Actual/360 Mortgage Loan" for such period that interest actually accrues on an Actual/360 Basis.

Related to Actual/360 Mortgage Loan

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.