Aged Mortgage Loans definition

Aged Mortgage Loans means Mortgage Loans against which a Warehousing Advance has been outstanding for longer than the Standard Warehouse Period, provided that Aged Mortgage Loans are permitted for such type of Mortgage Loan.
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Aged Mortgage Loans means an Eligible Mortgage Loan that has been included in Collateral for a period of more than ninety (90) days.
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Aged Mortgage Loans. Not Permitted
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Examples of Aged Mortgage Loans in a sentence

  • The following sublimits shall be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true: (a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans (other than Aged Mortgage Loans) may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment (the “Conforming Loan Sublimit”).

  • MBF acknowledges that a Takeout Commitment for an Aged Mortgage Loan may take the form of a bulk trade commitment concerning a number of Aged Mortgage Loans and certain other loans.

  • If Borrowers enter into a new commitment for the forward sale of Mortgage Loans by Borrowers to Lender, in an amount at least equal to $300,000,000, the interest rates then in effect for Subprime Mortgage Loans (not including Aged Mortgage Loans) will be reduced by [*]% per annum.

  • If Borrowers enter into a new commitment for the forward sale of Mortgage Loans by Borrowers to Lender, in an amount at least equal to $300,000,000, the interest rates then in effect for Prime Mortgage Loans (not including Aged Mortgage Loans) will be reduced by [*]% per annum.

  • With respect to transmittal of documentation relating to Purchased Loans (other than Aged Mortgage Loans), before the Buyer delivers documentation pursuant to this Section 20.6(ii), the Seller shall have delivered such forms, duly executed by the Seller, required under the applicable Agency Guides or Investor Commitments to effect delivery to an Agency or any other Approved Investor of such Purchased Loans and payment therefor in accordance with the instructions of the Buyer.

  • Any transmittal of documentation for (i) Purchased Loans (other than Aged Mortgage Loans) in the possession of the Buyer in connection with the sale thereof to an Approved Investor (other than an Agency) or (ii) Aged Mortgage Loans in the possession of the Buyer in connection with the sale thereof to a purchaser, in each case, shall be under cover of a bailment letter in form and substance acceptable to the Buyer, in its sole discretion, with all blanks completed in conformity therewith.

  • All amounts payable on account of the sale of Purchased Loans (other than Aged Mortgage Loans) by the Seller are to be paid directly by the applicable Approved Investor to the Investor Funding Account for the benefit of the Buyer and the Seller shall so instruct each such applicable Approved Investor.

  • No prize or any portion thereof is transferable or redeemable for cash.

  • The following sentence is added to Section 2 of the Agreement: In no event shall MBF be required to purchase any Type 3 Nonconforming Loan if the Acquisition Price of such Type 3 Nonconforming Loan, when combined with the aggregate Acquisition Price of all Type 3 Nonconforming Loans and all Aged Mortgage Loans then held by MBF (and then serviced by Seller or a Successor Servicer), is in excess of the Type 3 NC/Aged Loan Sublimit.

  • The unpaid amount of each Advance outstanding against Mortgage Loans that are Aged Mortgage Loans shall bear interest from the date such Mortgage Loans become Aged Mortgage Loans until such Advance is paid in full at a rate of interest equal to the lesser of (i) the Maximum Rate or (ii) a fluctuating rate of interest which is equal to 237.5 basis points (2.375%) per annum over the Monthly Average LIBOR Rate.


More Definitions of Aged Mortgage Loans

Aged Mortgage Loans on any date shall mean, collectively, all Aged Shipped Mortgage Loans, Aged Wet Mortgage Loans, and Aged Warehoused Mortgage Loans.
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Aged Mortgage Loans means Mortgage Loans against which a Warehousing Advance has been outstanding for longer than the Standard Warehouse Period, provided that Aged Mortgage Loans are permitted for such type of Mortgage Loan. "Aged Warehouse Period" means the maximum number of days a Warehousing Advance against Aged Mortgage Loans of a particular type may remain outstanding as set forth in Exhibit H. "Agency Security" means a Mortgage-backed Security issued or guaranteed by Fannie Mae, Freddie Max xx Xixxxe Xxx. "Xggregate Xxxxxousing Collateral Value" means, as of any date of determination, the total Warehousing Collateral Value of all Pledged Loans or Pledged Securities then subject to a perfected, first-priority Lien in favor of Lender under this Agreement. "Agreement" means this First Amended and Restated Warehousing Credit and Security Agreement, either as originally executed or as it may be amended, restated, renewed or replaced. "Appraised Property Value" means with respect to an interest in real property, the then current fair market value of the real property and any improvements on it as of a recent date determined in accordance with Title XI of FIRREA by a qualified appraiser who is a member of the American Institute of Real Estate Appraisers or other group of professional appraisers. "Approved Custodian" means a pool custodian or other Person that Lender deems acceptable, in its sole discretion, to hold Mortgage Loans for inclusion in a Mortgage Pool or to hold Mortgage Loans as agent for an Investor that has issued a Purchase Commitment for those Mortgage Loans. "Audited Statement Date" means the date of Borrower's most recent audited financial statements (and, if applicable, Borrower's Subsidiaries, on a consolidated basis) delivered to Lender under
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Aged Mortgage Loans in Section 1.2 of the Credit Agreement is hereby deleted therefrom and the following is substituted in lieu thereof for all purposes:
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Aged Mortgage Loans means (a) "A" Mortgage Loans that have been Pledged Mortgaged Loans for more than 90 days; and (b) "B, C, & D" Mortgage Loans that have been Pledged Mortgage Loans for more than 60 days."
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Related to Aged Mortgage Loans

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • 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).

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Registered mortgage loan originator means any individual who:

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute 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.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

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

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.