Correspondent Trailing Premium definition

Correspondent Trailing Premium. With respect to a Correspondent Mortgage Loan, the fee, if any, paid to a Correspondent Lender by MLCC as a portion of the purchase price for a Correspondent Mortgage Loan, which fee ranges from 0.125% per annum to 0.75% per annum of the annualized principal balance of the applicable Correspondent Mortgage Loan. MLCC is responsible for the payment of the Correspondent Trailing Premium, if any, and, to the extent due, the Correspondent Trailing Premium is paid by MLCC on a monthly basis out of the Monthly Payment it receives from the applicable Mortgagor. MLCC pays any such fee to the Correspondent Lender as long as the applicable Mortgage Loan remains outstanding and the Mortgagor is current in the remittance of his or her Monthly Payment to MLCC.
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Correspondent Trailing Premium. With respect to a Correspondent ------------------------------ Mortgage Loan, the fee, if any, paid to a Correspondent Lender by MLCC as a portion of the purchase price for a Correspondent Mortgage Loan, which fee ranges from 0.125% per annum to 0.750% per annum of the annualized Principal Balance of the applicable Correspondent Mortgage Loan. MLCC is responsible for the payment of the Correspondent Trailing Premium, if any, and, to the extent due, the Correspondent Trailing Premium is paid by MLCC on a monthly basis out of the Monthly Payment it receives from the applicable Mortgagor. MLCC pays any such fee to the Correspondent Lender as long as the applicable Mortgage Loan remains outstanding and the Mortgagor is current in the remittance of his or her Monthly Payment to MLCC.
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Examples of Correspondent Trailing Premium in a sentence

  • Under the Correspondent Lending Program, Seller may, from time to time, agree to pay a Correspondent Lender a Correspondent Trailing Premium ("CTP") 0.125% to 0.75% of the annualized principal balance of the applicable Mortgage Loan, less an administrative fee.

  • In addition, MLCC shall indemnify the Company, the Certificate Insurer, the Surety and the Certificateholders and hold each of them harmless against MLCC's failure to pay a Correspondent Trailing Premium in accordance with the definition "Correspondent Trailing Premium".

Related to Correspondent Trailing Premium

  • Property tax increment means the amount obtained by:

  • Consolidated Group Pro Rata Share means, with respect to any Investment Affiliate, the percentage of the total equity ownership interests held by the Consolidated Group in the aggregate, in such Investment Affiliate determined by calculating the greater of (i) the percentage of the issued and outstanding stock, partnership interests or membership interests in such Investment Affiliate held by the Consolidated Group in the aggregate and (ii) the percentage of the total book value of such Investment Affiliate that would be received by the Consolidated Group in the aggregate, upon liquidation of such Investment Affiliate, after repayment in full of all Indebtedness of such Investment Affiliate.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Transfer Premium shall also include, but not be limited to, key money, bonus money or other cash consideration paid by Transferee to Tenant in connection with such Transfer, and any payment in excess of fair market value for services rendered by Tenant to Transferee or for assets, fixtures, inventory, equipment, or furniture transferred by Tenant to Transferee in connection with such Transfer. The determination of the amount of Landlord’s applicable share of the Transfer Premium shall be made on a monthly basis as rent or other consideration is received by Tenant under the Transfer.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Additional Refinancing Lender has the meaning set forth in Section 2.15(a).

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Excess Cash Flow Payment Period means, with respect to any Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Maximum Premium has the meaning set forth in Section 7.06(b).