Examples of ARM Loans in a sentence
No later than March 3, 2000, Owner and the Company shall have completed a training program for the Company's employees in the proper servicing of interest-only ARM Loans subject to this Agreement.
Notwithstanding the foregoing, the Company's representations and warranties as to the proper servicing of ARM Loans shall be effective upon the fulfillment of the covenants set forth in Section 2.09 of this Agreement.
In addition, for ARM Loans, in no event shall the Index, Margin, Periodic Rate Cap, Adjustment Date, Lifetime Rate Cap or minimum rate be changed.
No later than the fourth Business Day preceding each Payment Date, the Master Servicer shall present an Officer's Certificate to the Indenture Trustee and the Bond Insurer with respect to the ARM Loans, (i) stating that the Master Servicer elects not to make an Advance in a stated amount and (ii) detailing the reason it deems the advance to be a Nonrecoverable Advance.
Pricing Prepayment Speed: The Offered Certificates will be priced based on the following collateral prepayment assumptions: FRM Loans: 100% PPC (100% PPC: 2.00% - 20.00% CPR over 10 months, 20% thereafter) ARM Loans: 100% PPC (100% PPC: 28.00% CPR) Mortgage Loans: As of the Cut-off Date, the aggregate principal balance of the Mortgage Loans was approximately $299,000,708, which consisted of a pool of fixed-rate and adjustable rate, first lien mortgage loans (the "MORTGAGE LOANS").
With respect to Revolving Credit Loans which are ARM Loans, the Note Rate and the Monthly Payment with respect to each Revolving Credit Loan is adjusted in accordance with the terms of the related Mortgage Note.
Notwithstanding the foregoing, Purchaser’s representations and warranties herein, to the extent relating to the proper servicing of ARM Loans, shall become effective upon the fulfillment of the covenants set forth in Section 4.35.
The sample shall be selected by Purchaser in its sole discretion within ten (10) business days after receipt by Purchaser of Seller’s list of ARM Loans currently serviced by the Company or any Company Subsidiary, and the audit shall be completed within sixty (60) days after Seller is notified by Purchaser of the sample selected by Purchaser.
Minimum Rate (ARM Loans Only) 8.411% 6.000% to 12.550% Weighted Avg.
Maximum Mortgage Rate (ARM Loans Only): 14.597% 11.750% to 19.990% Wtd.