Approved Mortgage Product definition

Approved Mortgage Product means the following mortgage products approved by Buyer for Transactions under the Agreement: Conforming Mortgage Loans, Eligible Government Mortgage Loans, Jumbo Mortgage Loans, Manufactured Housing Mortgage Loans, State Agency Program Loans, HECMs, Low FICO Government Mortgage Loans, FHA 203(k) Loans, Wet Mortgage Loans and Aged Mortgage Loans. In no event shall an Ineligible Product be an Approved Mortgage Product.

Approved Mortgage Product means each Mortgage Product approved by Buyer as identified in the Pricing Letter. Notwithstanding any reference to a Mortgage Product herein, such Mortgage Product shall not be an Approved Mortgage Product unless expressly identified as such in the Pricing Letter.

Approved Mortgage Product shall have the meaning specified in the Pricing Letter.

Examples of Approved Mortgage Product in a sentence

• An Eligible Mortgage Loan meeting the other criteria for an Approved Mortgage Product for which the Mortgage Loan documents relating to such Mortgage Loan have not been received by the Buyer or its agent.

• Maximum of one Mortgage Loan at any time Per Approved Mortgage Product Category 10 calendar days from the date of release of the Mortgage Loan Wet Loan.

• For each Purchased Asset which exceeds the Concentration Limit for the related Approved Mortgage Product or which exceeds the Aging Limit, Seller shall pay to Buyer in immediately available funds a non-refundable Exception Fee equal to [***].

• The selection of the specific Purchased Assets that exceed the Concentration Limit for an Approved Mortgage Product shall be performed by Buyer in its sole discretion.

• The Buyer in its sole discretion has agreed to enter into this Pricing Supplement and the Seller has agreed, subject to the terms and conditions of this Pricing Supplement, that the Repurchase Agreement and the Existing Pricing Letter be supplemented and amended to reflect the addition of [kind of mortgage loan] as an Approved Mortgage Product subject to the terms and conditions of this Pricing Supplement.

More Definitions of Approved Mortgage Product

Approved Mortgage Product means each Mortgage Product approved by Buyer as identified in the Schedule of Facility Information.

Approved Mortgage Product means the following mortgage products approved by Buyer for Transactions under the Agreement: Conforming Mortgage Loans, Eligible Government Mortgage Loans, Jumbo Mortgage Loans, Eligible Correspondent Mortgage Loans, DU Refi Plus Loans and High LTV VA Refinance Loans. In no event shall an Ineligible Product be an Approved Mortgage Product.

Approved Mortgage Product means the following Mortgage Products approved by Buyer for Transactions under the Agreement: (a) Conforming Mortgage Loans, High Balance Conforming Mortgage Loans, HECM Loans, Other Agency Mortgage Loans, Mortgage Loans Released on Trust Receipt, Jumbo Mortgage Loans, Specified Mortgage Loans,

Approved Mortgage Product means the following Mortgage Products approved by Buyer for Transactions under the Agreement: (a) Conforming Mortgage Loans, High Balance Conforming Mortgage Loans, Exception Conforming Mortgage Loans, Certified Conforming Mortgage Loans, Jumbo Mortgage Loans, Specified Mortgage Loans, Mortgage Loans Released on Trust Receipt, Wet Loans and Agency Securities and (b) any additional “Approved Mortgage Product” Buyer in its sole discretion determines to accept as reflected in a Pricing Supplement in the form of Exhibit B hereto (such Approved Mortgage Product incorporated pursuant to a Pricing Supplement, a “Pricing Supplement Product”). In no event shall a Pricing Supplement Product be an Exception Conforming Mortgage Loan.”

Approved Mortgage Product means the following mortgage products approved by Buyer for Transactions under the Agreement: Conforming Mortgage Loans, Eligible Government Mortgage Loans, Jumbo Mortgage Loans, Low FICO Government Loans, State Agency Program Loans, Manufactured Housing Mortgage Loans, 203K Loans, Wet Mortgage Loans and Aged Mortgage Loans. In no event shall an Ineligible Product be an Approved Mortgage Product.

Approved Mortgage Product means the following Mortgage Products approved by Buyer for Transactions under the Agreement: Conforming Mortgage Loans, High Balance Conforming Mortgage Loans, Exception Conforming Mortgage Loans, Certified Conforming Mortgage Loans, Jumbo Mortgage Loans, Specified Mortgage Loans, Mortgage Loans Released on Trust Receipt, Wet Loans, Agency Securities and HARP Mortgage Loans and (b) any additional “Approved Mortgage Product” Buyer in its sole discretion determines to accept as reflected in a Pricing Supplement in the form of Exhibit B hereto (such Approved Mortgage Product incorporated pursuant to a Pricing Supplement, a “Pricing Supplement Product”). In no event shall a Pricing Supplement Product be an Exception Conforming Mortgage Loan.

Approved Mortgage Product means the following mortgage products approved by Buyer for Transactions under the Agreement: Conforming Mortgage Loans, Eligible Government Mortgage Loans, Jumbo Mortgage Loans, Eligible Correspondent Mortgage Loans, Agency HARP2 Loans, Wet Loans and Aged Mortgage Loans. In no event shall an Ineligible Product be an Approved Mortgage Product. “Concentration Limit” as of any date of determination, with respect to the Eligible Mortgage Loans included in any Concentration Category, the applicable amount which the aggregate Purchase Price for such Eligible Mortgage Loans may not at any time exceed, as set forth in the below table. Aged Loans 5 % Wet Mortgage Loans 40 % Jumbo Loans 10 % Eligible Correspondent Loans 10 % Agency HARP2 Loans 10 %