Credit Grade. As defined in the Underwriting Guidelines.
Credit Grade means Harmoney’s proprietary credit grade attributed to a Borrower, which Harmoney generates based on information provided by a Borrower and otherwise obtains in respect of that Borrower (including through Credit Checks), details of which are set out on the Website; Enforcement Costs in respect of a Loan means all costs, expenses, and liabilities actually incurred by Harmoney in enforcing or attempting to enforce the Loan or recovering or attempting to recover any amounts owing under it (including, for the avoidance of doubt, in selling a Loan that has been charged off), including without limitation all legal costs; FMCA means the Financial Markets Conduct Xxx 0000; Fully Funded in relation to a Loan Listing or a Loan means that Harmoney has received sufficient Orders from Investors to fund the full amount of:
Credit Grade means, with respect to a Mortgagor, the risk category for such Mortgagor as determined in accordance with the Underwriting Guidelines.
Examples of Credit Grade in a sentence
With respect to the aggregate unpaid principal balance of the Mortgage Loans, the Mortgage Loans have the following Credit Grades: (i) [___]% of the Mortgage Loans are Credit Grade “A”; (ii) [___]% of the Mortgage Loans are Credit Grade “A-”; and (iii) [___]% of the Mortgage Loans are Credit Grade “B”.
Food and Nutrition for Life (0201J) ½ Credit Grade 9 20 WeeksThis course provides students with basic food preparation skills and nutrition awareness.
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With respect to the aggregate unpaid principal balance of the Mortgage Loans, the Mortgage Loans have the following Credit Grades: (i) [___]% of the Mortgage Loans are Credit Grade "A"; (ii) [___]% of the Mortgage Loans are Credit Grade "A-"; and (iii) [___]% of the Mortgage Loans are Credit Grade "B".
Percent of Aggregate Aggregate Average Number of Principal Principal Current Mortgage Balance Balance Principal Credit Grade Category Loans Outstanding Outstanding Balance --------------------------- -------------- -------------- -------------- -------------- A .........................
More Definitions of Credit Grade
Credit Grade means Harmoney’s proprietary credit grade attributed to a Borrower, which Harmoney generates based on information provided by a Borrower and otherwise obtains in respect of that Borrower (including through Credit Checks), details of which are set out on the Website under the "Borrower FAQs" section; Disclosure Statement means Harmoney’s disclosure statement which is set out on the Website under the "Legal Agreements" section, as updated by Harmoney from time to time; FMCA means the Financial Markets Conduct Xxx 0000; Fully Funded in relation to a Loan Listing or a Loan means that Harmoney has received sufficient Orders from Investors to fund the full amount of:
Credit Grade. A". Under the "A" credit grade, the applicant generally must have (1) a minimum FICO score of 550 and a maximum of three 30-day late payments within the last 12 months on an existing mortgage loan or (2) a minimum FICO score of 620 with a maximum of one 60-day late payment within the last 12 months on an existing mortgage loan. No bankruptcy, discharge, or notice of default filings may have occurred during the preceding twenty- four months. Generally, the debt service-to-income ratio must be equal to or less than 50%. Subject to all other credit grade criteria, a maximum loan-to-value ratio of 90% is permitted for purchase money and/or refinance transactions. CREDIT GRADE: "B". Under the "B" credit grade, the applicant generally must have (1) a minimum FICO score of 550 and a maximum of one 60-day late payment within the last 12 months on an existing mortgage loan or (2) a minimum FICO score of 500 and a maximum of three 30-day late payments within the last 12 months on an existing mortgage loan. Additionally, one 90-day late payment is permitted within the last 12 months on an existing mortgage loan for a "B" credit grade provided the applicant has a minimum FICO score of 670. No bankruptcy, discharge, or notice of default filings may have occurred during the last 12 months. Generally, the debt service-to-income ratio must be equal to or less than 55%. Subject to all other credit grade criteria, a maximum loan-to-value ratio of 85% is permitted for purchase money and/or refinance transactions.
Credit Grade. C". Under the "C" credit grade, the applicant may generally have : (1) one 120-day late payment with a minimum FICO score of 580;
Credit Grade. D". Under the "D" credit grade, the applicant's derogatory consumer and mortgage credit history may be waived if a reasonable explanation for the problem is provided. The problem that caused the derogatory items to occur must no longer exist or must be resolved through the loan transaction. Generally, the debt-to-service income ratio must be equal to or less than 55%. Subject to all other credit grade criteria, a maximum loan-to-value ratio of 60% is permitted for purchase money and/or refinance transactions. <PAGE> YIELD ON THE CERTIFICATES DELAY IN DISTRIBUTIONS ON THE CLASS S CERTIFICATES The effective yield to holders of the Class S Certificates will be less than the yields otherwise produced by their respective pass-through rates and purchase prices because: o on the first Distribution Date one month's interest is distributable thereon even though 55 days will have elapsed from the date on which interest begins to accrue thereon; o on each succeeding Distribution Date, the interest distributable thereon is the interest accrued during the month preceding the month of such Distribution Date, which ends 24 days prior to such Distribution Date; and o during each Interest Accrual Period, other than the first Interest Accrual Period, interest accrues on a Notional Amount that may be less than the Notional Amount of such class actually outstanding for the first 24 days of such Interest Accrual Period.
Credit Grade. B" Credit Grade "C" Credit Grade ------------------------------- ------------------------------- ------------------------------- General Repayment Has good credit but might Pays the majority of accounts Marginal credit history which have some minor delinquency. on time but has some 30 offset by other positive and/or is 60 day delinquency. attributes. Existing Mortgage Loans Current at application time Current at application time Cannot exceed four 30 day and a maximum of two 30 day and a maximum of four 30 day delinquencies and/or two 60 day delinquencies in the past delinquencies in the past delinquencies in the past 12 months. 12 months. 12
Credit Grade. The credit grade assigned by the Seller to each Mortgage Loan pursuant to the standards set forth in the Underwriting Guidelines.
Credit Grade means, with respect to an Obligor, the risk category for such Obligor as determined in accordance with the Underwriting Policy.