Agency Eligible Loan definition

Agency Eligible Loan means a Loan that is (i) originated in compliance with the applicable Agency Guidelines (other than for exceptions to the Agency Guidelines provided by the applicable Agency to Seller and is eligible for sale to or securitization by (or guaranty of securitization by)) an Agency or (ii) (a) an FHA Loan; (b) a VA Loan; (c) an RHS Loan, or (d) otherwise eligible for inclusion in a Xxxxxx Mae mortgage-backed security pool.
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Agency Eligible Loan means a Loan that is (i) originated in compliance with the applicable Agency Guidelines (other than for exceptions to the Agency Guidelines provided by the applicable Agency to Seller and is eligible for sale to or securitization by (or guaranty of securitization by) an Agency or (ii) (a) an FHA Loan; (b) a VA Loan; (c) an RHS Loan, or (d) otherwise eligible for inclusion in a Ginnie Mae mortgage-backed security pool.
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Agency Eligible Loan means a Loan that is originated in compliance with the Agency Guidelines and is eligible for sale to securitization by Fxxxxx Mxx, Fxxxxxx Mac or Gxxxxx Mae.
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Examples of Agency Eligible Loan in a sentence

  • Each Agency Eligible Loan was originated in Strict Compliance with the Agency Guidelines.

  • If the Mortgage Loan is an Agency Eligible Loan and is identified on the Mortgage Loan Schedule as being subject to a property inspection waiver, the property valuation listed on the Mortgage Loan Schedule was the subject of a duly issued appraisal waiver offer that was not more than four months old as of the date of the Mortgage Note and Mortgage.

  • With respect to each Agency Eligible Loan that is a VA Loan, the VA Loan Guaranty Agreement is, or when issued will be, in full force and effect.

  • With respect to each Agency Eligible Loan that is an FHA Loan, the FHA Mortgage Insurance Contract is, or when issued will be, in full force and effect and to Seller’s knowledge, there exists no circumstances with respect to such FHA Loan that would permit the FHA to deny coverage under such FHA Mortgage Insurance.

  • With respect to each Agency Eligible Loan that is an RHS Loan, the Rural Housing Service Guaranty is, or when issued will be, in full force and effect.

  • If such Loan is an Agency Eligible Loan, the Note and Mortgage (exclusive of any riders) are on forms similar to those used by or acceptable to the applicable Agency, FHA, VA or HUD, as applicable, and neither Seller has made any representations to a Mortgagor that are inconsistent with the mortgage instruments used.

  • Each Agency Eligible Loan was originated in Strict Compliance with the Agency Guidelines, subject to variances and waivers received by the Seller from the applicable Agency.

  • With respect to each Agency Eligible Loan that is a USDA Loan, the USDA Loan Guaranty Agreement is, or when issued will be, in full force and effect.

  • Seller agrees that, with respect to any material modifications to the applicable Underwriting Guidelines for any Loan (other than, with respect to any Agency Eligible Loan or Government Loan, any modifications that are required or permitted by the applicable Agency), in each case that are likely to negatively impact such Loans, Seller shall provide notice to Buyer within ten (10) Business Days following such modifications (each, an “UG Change Notice”).

  • With respect to each Agency Takeout Loan, the Loan is an Agency Eligible Loan, and is subject to a Takeout Commitment with a Takeout Investor that is an Agency.

Related to Agency Eligible Loan

  • Eligible Loan means a Loan offered for sale or substituted by Seller under a Sale Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Sale Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan:

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

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

  • Agency Security means a mortgage-backed security issued by an Agency.

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

  • Outstanding Balance of any Receivable at any time means the then outstanding principal balance thereof.