Adjusted Net Maximum Mortgage Rate definition

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan (or the related REO Property), as of any Distribution Date, a per annum rate of interest equal to the Maximum Mortgage Rate for such Mortgage Loan (if such Mortgage Loan is an Adjustable Rate Mortgage Loan) or the Mortgage Rate for such Mortgage Loan (if such Mortgage Loan is a Fixed Rate Mortgage Loan), in either case as of the first day of the month preceding the month in which such Distribution Date occurs, minus the sum of (i) the Servicing Fee Rate, (ii) the PMI Insurer Fee Rate, if applicable, and (iii) the Trustee Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate, (ii) the Servicing Fee Rate and (iii) the PMI Insurer Fee Rate, if applicable.

Examples of Adjusted Net Maximum Mortgage Rate in a sentence

• Expense Adjusted Net Maximum Mortgage Rate: The per annum rate equal to the applicable maximum mortgage rate (or the mortgage rate for such Mortgage Loan in the case of the fixed-rate Mortgage Loans) of each Mortgage Loan minus the Administrative Fee Rate.

• ADJUSTED NET MAXIMUM MORTGAGE The Adjusted Net Maximum Mortgage Rate for each RATE: Mortgage Loan is equal to the maximum mortgage interest rate (or the mortgage interest rate in the case of any Fixed Rate Mortgage Loan) less the sum of the Servicing Fee Rate and the Credit Risk Manager Fee Rate for such Mortgage Loan.

• Adjusted Net Maximum Mortgage Rate: The "Adjusted Net Maximum Mortgage Rate" for each Mortgage Loan is equal to the maximum loan rate (or the loan rate in the case of any fixed-rate Mortgage Loan) less the sum of (i) the Servicing Fee Rate and (ii) the trustee fee rate.

• The "Adjusted Net Maximum Mortgage Rate" for any Mortgage Loan will be equal to the applicable maximum mortgage rate for such Mortgage Loan (or the mortgage rate in the case of the fixed-rate mortgage loans) minus the sum of (i) the Master Servicing Fee Rate and (ii) the Servicing Fee Rate.

• ADJUSTED NET MAXIMUM The Adjusted Net Maximum Mortgage Rate for MORTGAGE RATE: each Mortgage Loan is equal to the maximum loan interest rate for that Mortgage Loan (or the loan interest rate in the case of any Fixed Rate Mortgage Loan) less the sum of (i) the Servicing Fee Rate, (ii) the Securities Administration Fee Rate and (iii) the Credit Risk Manager Fee Rate.

More Definitions of Adjusted Net Maximum Mortgage Rate

Adjusted Net Maximum Mortgage Rate. With respect to any Distribution Date and any Mortgage Loan (or the related REO Property) in the Trust Fund as of the close of business on the last day of the preceding calendar month, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed Rate Mortgage Loan) as of the first day of the month preceding the month in which the Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Distribution Date and any Mortgage Loan (or the related REO Property) in the Trust Fund as of the close of business on the last day of the preceding calendar month, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed Rate Mortgage Loan) as of the first day of the month preceding the month in which the Distribution Date occurs (or the Cut-off Date with respect to the first Distribution Date) minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Distribution Date and any Mortgage Loan (or the related REO Property) in the Trust Fund as of the close of business on the last day of the preceding calendar month, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed Rate Mortgage Loan) as of the first day of the month preceding the month in which the Distribution Date occurs minus the sum of (i) the Trustee Fee Rate, (ii) the Servicing Fee Rate and (iii) the PMI Premium Rate, if applicable.

Adjusted Net Maximum Mortgage Rate. As to each Mortgage Loan for any Distribution Date, a per annum rate equal to the applicable Maximum Mortgage Interest Rate for such Mortgage Loan as of the first day of the month preceding the month in which such Distribution Date occurs minus the Expense Fee Rate.]

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the Maximum Mortgage Rate for such Mortgage Loan (if such Mortgage Loan is an Adjustable Rate Mortgage Loan) or the Mortgage Rate for such Mortgage Loan (if such Mortgage Loan is a Fixed Rate Mortgage Loan), in either such case as of the first day of the month preceding the month in which the Distribution Date occurs, minus the Servicing Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Servicing Fee Rate, (ii) the Custodian Fee Rate, (iii) the PMI Premium Rate and (iv) the Credit Risk Manager Fee Rate.

Adjusted Net Maximum Mortgage Rate. With respect to any Mortgage Loan for any Distribution Date, a per annum rate equal to the applicable Maximum Mortgage Interest Rate for such Mortgage Loan (if it is an Adjustable Rate Mortgage Loan) or the fixed Mortgage Interest Rate for such Mortgage Loan, if it is a fixed-rate Mortgage Loan, as of the beginning of the related Due Period, less the Expense Fee Rate.