Componentized Mortgage Loan definition

Componentized Mortgage Loan. The Centreville Square Mortgage Loan.
Sample 1Sample 2Sample 3
Componentized Mortgage Loan. Each of the Andaz Wall Street Mortgage Loan and the Portofino Hotel and Yacht Club Mortgage Loan, identified as Loan Nos. 11 and 19 on the Mortgage Loan Schedule, respectively.
Sample 1Sample 2Sample 3

Examples of Componentized Mortgage Loan in a sentence

  • Unless a Loan-Specific Control Appraisal Period exists with respect to a Componentized Mortgage Loan, the consent, disapproval rights, and consultation rights of the Directing Certificateholder with respect to any Asset Status Reports applicable to the other Mortgage Loans described above and below will be exercisable by the related Loan-Specific Certificate Representative on behalf of the Holders of the related Class of Loan-Specific Certificates with respect to such Componentized Mortgage Loan.

  • During the existence of a Loan-Specific Control Appraisal Period with respect to a Componentized Mortgage Loan, the Directing Certificateholder may exercise the same consent and consultation rights with respect to such Componentized Mortgage Loan as it does with all other Mortgage Loans, in the same manner.

  • For so long as no Loan-Specific Control Appraisal Period exists with respect to a Componentized Mortgage Loan, the applicable Loan-Specific Certificate Representative shall have control, consent, disapproval and consultation rights with respect to such Componentized Mortgage Loan in accordance with the terms of this Agreement, including, without limitation, Section 3.35(c).

  • Notwithstanding the foregoing, the Senior Trust Advisor will not be permitted to recommend the replacement of the Special Servicer with respect to a Componentized Mortgage Loan for which no Loan-Specific Control Appraisal Period exists.

  • Consistent with the above, with respect to the Componentized Mortgage Loan, subject to Section 3.05(i), any withdrawals permitted pursuant to this Section 3.05(a), shall be paid or reimbursed (a) on a pro rata basis, from amounts on deposit allocated to the related Non-Pooled Component, and from amounts on deposit allocated to the related Pooled Component and (b) then from general collections in respect of all other Mortgage Loans.

  • Notwithstanding anything set forth herein to the contrary, with respect to a Componentized Mortgage Loan, unless a Loan-Specific Control Appraisal Period exists with respect thereto, the Special Servicer will prepare an Asset Status Report for the related Componentized Mortgage Loan within sixty (60) days after it becomes a Specially Serviced Mortgage Loan and the Directing Certificateholder will have no approval rights over any such Asset Status Report.

  • If a Loan-Specific Control Appraisal Period exists, or if 50% or more of the outstanding Certificate Balance of the related Loan-Specific Certificates is held by the related borrower or an affiliate of the related borrower, the Directing Certificateholder will (prior to the occurrence and continuance of a Control Event) be entitled to appoint a replacement Special Servicer of the related Componentized Mortgage Loan.

  • In addition, all amounts of Mortgage Deferred Interest on the Componentized Mortgage Loan allocated to the respective Pooled Component and Non-Pooled Component will reduce the amount of interest entitlement distributable pursuant to the allocations described above.

  • In addition, all amounts of Mortgage Deferred Interest on a Componentized Mortgage Loan allocated to the respective Pooled Component and Non-Pooled Component will reduce the amount of interest entitlement distributable pursuant to the allocations described above.

  • With respect to any Mortgage Loan other than a Componentized Mortgage Loan, prior to the occurrence of a Consultation Termination Event, the Special Servicer shall consult with the Directing Certificateholder with respect to any Appraisal, valuation or downward adjustment in connection with an Appraisal Reduction.

Related to Componentized Mortgage Loan

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

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

  • Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.

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

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

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

  • Nonsubserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement.

  • 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.

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

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

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

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • 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.

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.