Balloon Mortgage Loans definition

Balloon Mortgage Loans. 11. Largest Principal Balance: $__________ 12 .Non-owner occupied Mortgaged Properties: ____% 13. Maximum zip code concentration: ____% 14. Condominiums: ___ 15. Single-family: ______% 16. Multifamily, Commercial and Mixed Use Properties ___ 17.
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Balloon Mortgage Loans. No Balloon Mortgage Loan has an original stated maturity of less than seven (7) years; and
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Balloon Mortgage Loans. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than [*]. (kkk)
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Examples of Balloon Mortgage Loans in a sentence

  • No Borrower nor any of Borrower's Subsidiaries or Affiliates shall use any portion of the proceeds of the Loans, either directly or indirectly, for the purpose of purchasing any securities underwritten by an Affiliate of the Bank.

  • The Seller, however, may send letters or promotional material to (A) all of the mortgagors in its servicing portfolio, (B) all mortgagors who have a specific type of mortgage (i.e. Balloon Mortgage Loans, LIBOR Mortgage Loans, etc.), (C) those mortgagors whose mortgages fall within specific interest rate ranges, or (D) a class of mortgagors based on such other criteria which does not specifically target Mortgagors.

  • Adjustable Rate 1,927 206,316,865.70 Total Closing Mortgage Loan Principal Balance: 7,464 601,790,960.23 (b) Balloon Mortgage Loans 1.

  • Adjustable Rate 1,878 200,355,131.73 Total Closing Mortgage Loan Principal Balance: 7,265 583,181,327.73 (b) Balloon Mortgage Loans 1.

  • Adjustable Rate 1,986 212,771,966.14 Total Closing Mortgage Loan Principal Balance: 7,716 625,013,131.85 (b) Balloon Mortgage Loans 1.

  • Except with respect to Balloon Mortgage Loans which are Adjustable Rate Mortgage Loans, as to each Adjustable Rate Mortgage Loan, if the related Mortgage Interest Rate changes on an Adjustment Date (with respect to Interest-Only Mortgage Loans, following the related Interest-Only Adjustment Date), the then outstanding principal balance will be reamortized over the remaining life of such Mortgage Loan.

  • Adjustable Rate 1,127 99,231,448.08 Total Closing Mortgage Loan Principal Balance: 6,713 466,547,952.90 (b) Balloon Mortgage Loans 1.

  • Adjustable Rate 1,990 199,616,095.65 Total Closing Mortgage Loan Principal Balance: 11,883 968,291,197.67 (b) Balloon Mortgage Loans 1.

  • Adjustable Rate 2,685 309,974,077.49 Total Closing Mortgage Loan Principal Balance: 10,973 945,812,520.78 (b) Balloon Mortgage Loans 1.

  • Adjustable Rate 1,213 108,064,902.24 Total Closing Mortgage Loan Principal Balance: 7,340 520,906,235.70 (b) Balloon Mortgage Loans 1.


More Definitions of Balloon Mortgage Loans

Balloon Mortgage Loans. A Mortgage Loan with scheduled periodic payments that are insufficient to fully amortize the face amount of the Note prior to maturity such that the scheduled final payment is greater than twice any scheduled periodic payment.
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Balloon Mortgage Loans. 8. Largest Principal Balance: $________ 9. Non-owner occupied Mortgaged Properties: _____ % 10. Maximum California zip code concentration: _____ % 11. Condominiums: _____ % 12. Single-family: _____ % 13. Weighted average term since origination: _____ months 14. [January/February/March] first payment date: _____ % AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1996-4 ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 2 Series 1996-4 ________, 199__
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Balloon Mortgage Loans. 7. Largest Principal Balance: $________ 8. Non-owner occupied Mortgaged Properties: _____ % 9. Maximum zip code concentration: _____ % 10. Condominiums: _____ % 11. Single-family: _____ % 12. Weighted average term since origination: _____ months 13. [January/February/March] first payment date: _____ % EXHIBIT U FORM OF ADDITION NOTICE [Date] [Trustee] ____________________ ____________________ Re: Pooling and Servicing Agreement, dated as of December 1, 1996, between [Depositor] [Trustee] and [Servicer], relating to AFC Mortgage Loan Asset Backed Certificates, Series 1996-4 -------------------------------------------------------------- Ladies and Gentlemen: Pursuant to Section 2.10 of the above-captioned Pooling and Servicing Agreement, [Depositor] has designated Subsequent Mortgage Loans to be sold to the Trust Fund on _________, 199__, with an aggregate principal balance of $______________. Capitalized terms not otherwise defined herein have the meaning set forth in the Pooling and Servicing Agreement. Please acknowledge your receipt of this notice by countersigning the enclosed copy in the space indicated below and returning it to the attention of the undersigned. Very truly yours, [DEPOSITOR] By: _________________________ Name: _________________________ Title: _________________________ ACKNOWLEDGED AND AGREED: [Trustee] By: ___________________________ Name: ___________________________ Title: ___________________________ Date: ___________________________ EXHIBIT V OFFICER'S CERTIFICATE I, _________________ hereby certify that I am the duly elected ______________ of Superior Bank FSB, a federally chartered stock savings bank (the "Depositor"), and further, to the best of my knowledge and after due inquiry, as follows: Each condition precedent specified in Section 2.10(b) and [Section 2.10(c) for Sub-Pool 1 Mortgage Loans] [Section 2.10(d) for Sub-Pool 2 Mortgage Loans] of the Pooling and Servicing Agreement, dated as of December 1, 1996, among the Depositor, Lee Servicing Company, a division of Superior Bank FSB, and LaSalle National Bank, as Trustee (the "Pooling and Servicing Agreement") and each condition precedent specified in the Subsequent Transfer Instrument has been satisfied by the Depositor. Capitalized terms not otherwise defined herein have the meanings set forth in the Pooling and Servicing Agreement.
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Balloon Mortgage Loans. Any Mortgage Loan for which the related Monthly Payments, other than the Monthly Payment due on the maturity date thereof, are computed on the basis of a period to full amortization ending on a date that is later than such maturity date.
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Balloon Mortgage Loans. 8. Largest Principal Balance: $________ 9. Non-owner occupied Mortgaged Properties: _____ % 10. Maximum zip code concentration: _____ % 11. Condominiums: _____ % 12. Single-family: _____ % 13. Multifamily and Mixed Use _____ % 14. Manufactured Homes _____ % 15. Periodic Payment Loans _____ % 16. Weighted average term since origination: _____ months 17. January 1998 first payment date: _____ % AFC MORTGAGE LOAN ASSET BACKED CERTIFICATES, SERIES 1997-3 ATTACHMENT A TO SUBSEQUENT TRANSFER INSTRUMENT FOR SUB-POOL 2 Series 1997-3 ________, 199__
Sample 1

Related to Balloon Mortgage Loans

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

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

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

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

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

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

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

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

  • 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 February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank 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 the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% 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, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 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 is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and 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.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

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

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

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

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Mortgage Loan Group Either Group I or Group II.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.