REMIC 3 Group 1 Principal Loss Allocation Amount definition
REMIC 3 Group 1 Principal Loss Allocation Amount. With respect to any Distribution Date, an amount equal to the product of (i) the aggregate Stated Principal Balance of the Group 1 Loans and the related REO Properties then outstanding, minus the Certificate Principal Balance of the Class 1-P Certificates, and (ii) 1 minus a fraction, the numerator of which is two (2) times the aggregate Uncertificated Principal Balance of each REMIC 3 Group 1 Regular Interest for which a Class 1-A, Class 1-M or Class 1-B Certificate is a Corresponding Certificate and the denominator of which is the aggregate Uncertificated Principal Balance of each REMIC 3 Group 1 Regular Interest for which a Class 1-A, Class 1-M or Class 1-B Certificate is a Corresponding Certificate and REMIC 3 Regular Interest 1-ZZ.