Aged Mortgage Loan Sublimit definition

Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(d). “Agency” (and, with respect to two or more of the following, “Agencies”) means Xxxxxx Xxx, FHA, Freddie Mac, Xxxxxx Xxx, RHS or VA. “Agency Guidelines” means those requirements, standards and procedures that may be adopted by the Agencies from time to time with respect to their purchase or guaranty of residential mortgage loans, which requirements govern the Agencies’ willingness to purchase or guaranty such loans. “Agency Loan Sublimit” is defined in Section 4.2(a).
Sample 1Sample 2
Aged Mortgage Loan Sublimit. Low FICO Mortgage Loans 5% “Low FICO Loan Sublimit” 4.3.
Sample 1Sample 2
Aged Mortgage Loan Sublimit. Second Mortgage Loans $5,000,000.00 “Second Mortgage Loan Sublimit” Discretionary Loans $3,000,000.00 “Discretionary Loan Sublimit” Non-QM Mortgage Loans 10% “Non-QM Mortgage Loan Sublimit” 4.3.
Sample 1

Examples of Aged Mortgage Loan Sublimit in a sentence

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by 5% of the Mortgage Note Amount.

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Warehousing Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by [*]% of the Mortgage Note Amount on the 15th day of each month commencing after 90 days.

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Warehousing Advance against such Pledged Loan must be (a) repaid in full; to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by [*]% of the Mortgage Note Amount on the 15th day of each month commencing after 90 days.

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Warehousing Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by [***] of the Mortgage Note Amount.

  • All Mortgage Loans in warehouse for 60 days will be reduced by 2% of the Mortgage Note Amount On the day a Pledged Loan becomes an Aged Mortgage Loan, the Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by 5% of the Mortgage Note Amount.

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Warehousing Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by 5% of the Mortgage Note Amount.

  • On the day a Pledged Loan becomes an Aged Mortgage Loan, the Warehousing Advance against such Pledged Loan must be (a) repaid in full, to the extent the Aged Mortgage Loan Sublimit would be exceeded, or (b) otherwise, reduced by of the [***] Mortgage Note Amount.


More Definitions of Aged Mortgage Loan Sublimit

Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(c). “Agency” means Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac. “Agency MBS” means MBS issued or guaranteed as to timely payment of principal and interest by Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac. “Agent” is defined above. “Agent’s Fees” is defined in Section 9.2. “Aggregate Outstanding Purchase Price” means as of any Determination Date, an amount equal to the sum of the Purchase Prices for all Purchased Loans included in all Open Transactions. “Agreement” is defined in the Recitals. “‘Applicable Margin’ means (a) for the Daily Adjusting LIBOR Rate, 1.75% per annum, and (b) for the Prime Reference Rate, 0.5% per annum. “Approved Investor” means Xxxxxx Xxx, Xxxxxx Xxx, Xxxxxxx Mac and any of the Persons listed on Schedule AI, as it may be supplemented or amended from time to time by agreement of the Seller and the Agent; provided, that (a) persons listed on Schedule AI shall be Approved Investors only with respect to the type(s) of Mortgage Loans for which they are specified as an “Approved Investor” on Schedule AI, and (b) if the Agent shall give notice to the Seller of the Agent’s reasonable disapproval of any Approved Investor(s) named in the notice, 3 Bodman_16842095_7
Sample 1
Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(c).” “‘Applicable Margin’ means (a) for the Daily Adjusting LIBOR Rate, 1.8% per annum, and (b) for the Prime Reference Rate, 1.05% per annum.”
Sample 1
Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(c). “Agency” means Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac. “Agency MBS” means MBS issued or guaranteed as to timely payment of principal and interest by Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac. “Agency-Required eNote Legend” means the legend or paragraph required by Xxxxxx Mae or Xxxxxxx Mac, as applicable, to be set forth in the text of an eNote, as may be amended from time to time by Xxxxxx Mae or Xxxxxxx Mac, as applicable. “Agent” is defined above. “Agent’s Fees” is defined in Section 9.2. “Aggregate Jumbo Loan Sublimit” is defined in Section 4.2(c). “Aggregate Outstanding Purchase Price” means as of any Determination Date, an amount equal to the sum of the Purchase Prices for all Purchased Loans included in all Open Transactions. “Agreement” is defined in the Recitals. “Applicable Floor” means as such term is used in the definitions of “LIBOR Rate” and “Benchmark Replacement” (as defined in Section 6.8), five tenths of one percent (0.5%) per annum.
Sample 1
Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(a). “Agency” means Xxxxxx Xxx, Xxxxxx Xxx or Xxxxxxx Mac. “Agency MBS” means MBS issued or guaranteed as to timely payment of principal and interest by Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac. “Agent” is defined above. “Agent’s Fees” is defined in Section 9.2. “Aggregate Outstanding Purchase Price” means as of any Determination Date, an amount equal to the sum of the Purchase Prices for all Purchased Loans included in all Open Transactions. “Agreement” is defined in the Recitals. “Applicable Margin” means (a) for the Daily Adjusting LIBOR Rate, two and three eighths percent (2.375%) per annum, and (b) for the Prime Reference Rate, one and twenty five hundredths percent (1.25%) per annum. “Approved Investor” means Xxxxxx Mae, Xxxxxx Xxx, Xxxxxxx Mac and any of the Persons listed on Schedule AI, as it may be supplemented or amended from time to time by
Sample 1
Aged Mortgage Loan Sublimit is defined in the table set forth in Section 4.2(a).
Sample 1
Aged Mortgage Loan Sublimit means $2,000,000.
Sample 1

Related to Aged Mortgage Loan Sublimit

  • Registered mortgage loan originator means any individual who:

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.