Buydown Loan definition

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. Cap Counterparty: Bear Xxxxxxx Financial Products Inc.

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. Carry-Forward Subsequent Recoveries Amount: For any Distribution Date and any Loan Group, the excess, if any, of (i) the Subsequent Recoveries for such Distribution Date for such Loan Group over (ii) the amount by which the Class Principal Balance of the Class of Subordinate Certificates with the lowest priority is increased in respect of Subsequent Recoveries for such Loan Group on such Distribution Date pursuant to the definition of "Class Principal Balance" herein. Certificate: Any one of the Certificates issued pursuant to this Agreement, executed by the Trustee and authenticated by or on behalf of the Trustee hereunder in substantially one of the forms set forth in Exhibit A and B hereto. The additional matter appearing in Exhibit H shall be deemed incorporated into Exhibit A as though set forth at the end of such Exhibit.

Examples of Buydown Loan in a sentence

• If the IRS were able to maintain this position successfully, an Owner of a Lender Buydown Loan would be treated as holding two debt instruments: one issued by the Lender (to the extent of payments from the buydown account), and the other issued by the borrower (to the extent of the net payment by the borrower).

• If the borrower is liable for the entire payment on a Lender Buydown Loan, without offset by any payments due from the buydown account, a Lender Buydown Loan may be treated properly as entirely the obligation of the borrower.It is possible, however, that the IRS will take the position that a Lender Buydown Loan should be treated as if the borrower were obligated only to the extent of the net payment after application of the interest rate buydown account.

• Accordingly, the Corporation plans to treat Lender Buydown Loans entirely as the obligation of the borrower.It is possible, however, that the IRS will take the position that a Lender Buydown Loan should be treated as if the borrower were obligated only to the extent of the net payment after application of the interest rate buydown account.

• No Mortgage Loan contains provisions pursuant to which Monthly Payments are (a) paid or partially paid with funds deposited in any separate account established by the Seller, the Mortgagor, or anyone on behalf of the Mortgagor, (b) paid by any source other than the Mortgagor or (c) except any Mortgage Loan identified by Seller as a Buydown Loan, contains any other similar provisions which may constitute a “buydown” provision.

• Kelly Rachel motioned to approve the revisions made to the FlexPACE Interest Buydown Loan Agreement as presented, CJ Janke seconded the motion, and the motion passed unanimously by voice vote.Tracey also reviewed the newly created Project Annual Report form in the dropbox with the Board.

More Definitions of Buydown Loan

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. Cap Counterparty: Bank of America, N.A.

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. Cap Counterparty: Wachovia Bank, N.A.

Buydown Loan. Any Mortgage Loan in respect of which, pursuant to a Buydown Agreement, (i) the Mortgagor pays less than the full monthly payments specified in the Mortgage Note for a specified period and (ii) the difference between the payments required under such Buydown Agreement and the Mortgage Note is provided from Buydown Funds.

Buydown Loan means a Mortgage Loan as to which a specified amount of interest is paid out of a related Escrow Account in accordance with a related buydown agreement.

Buydown Loan. “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan.3644 3543 The definition of “Repurchase Price” was amended by Amendment No. 1, dated as of September 24, 2021. 3644 The definition of “Restricted Mortgage Loan” was amended by Amendment No. 1, dated as of September 24, 2021. 45 The definition of “Sanctions Lists” was added by Amendment No. 2, dated as of April 28, 2022.

Buydown Loan. A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan. CCC: Capstead Capital Corporation.

Buydown Loan. “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan. “Sanctions List” has the meaning ascribed to it in Section 29(a).27 “SEC” means the Securities Exchange Commission or any successor thereto. “Security” means a Xxxxxx Xxx Security, a Xxxxxx Mae Security or a Xxxxxxx Mac Security, as applicable. “Security Issuance Failure” means failure of the Security to be issued for any reason whatsoever by the Anticipated Delivery Date. “Security Settlement Fee” shall have the meaning assigned thereto in the Pricing Side Letter. “Selling System” means the Xxxxxxx Mac automated system by which sellers and servicers of mortgage loans to Xxxxxxx Mac transfer mortgage summary and record data or mortgage accounting and servicing information from their computer system or service bureau to Xxxxxxx Mac, as more fully described in the Xxxxxxx Mac Guide. “Servicer Side Letter” has the meaning assigned thereto in the Master Repurchase Agreement. “Servicing File” means with respect to each Mortgage Loan, the file retained by Seller or its designee consisting of all documents that are customarily retained by servicers that service mortgage loans substantially similar to such Mortgage Loan, which would include copies of the Mortgage File, all documents necessary to document and service the Mortgage Loans and 27 The definition of “Sanctions List” was added by Amendment No. 2, dated as of April 28, 2022.