Current Appraisal definition

Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals.

Current Appraisal means an Appraisal dated no earlier than ninety (90) days (or such longer period, if any, as the Agent shall approve) before the relevant Determination Date.

Examples of Current Appraisal in a sentence

• With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, the Purchaser shall obtain a Current Appraisal as soon as practicable, and shall provide the Company with a copy of such Current Appraisal.

• Current Appraisal: With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals.

• Submit the following: • A completed USDA Direct Loan Payoff Request Form, FM-158• Include a copy of the good faith estimate or estimated closing cost statement• Current Appraisal The Statement of Loan Balance will reflect the amount of subsidy recapture that is due and will include instructions for the lender to follow.

• With respect to any Subject Mortgage Loan as to which the Directing Holder has made an Election to Delay Foreclosure and as to which no amount has been realized on such Subject Mortgage Loan within six months from the time the Subject Mortgage Loan becomes delinquent, the Directing Holder shall obtain an Updated Current Appraisal and shall provide the Master Servicer with a copy of such Updated Current Appraisal.

• Each such new Current Appraisal is subject to review and approval by Administrative Agent.

More Definitions of Current Appraisal

Current Appraisal. With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. ELECTION TO DELAY FORECLOSURE: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

Current Appraisal means an Appraisal dated within six (6) months of the date of determination which Appraisal shall be approved by Buyer.

Current Appraisal means an appraisal dated within twelve (12) months of the date of determination; provided, however, (i) in the case of the valuation of an Underlying Mortgaged Property, such appraisal shall be a FIRREA Appraisal and (ii) in the case of the valuation of a Mortgage Asset, such appraisal shall be from a nationally recognized appraisal firm (other than the Borrowers, the Guarantors or any Affiliate of the foregoing) (A) with substantial experience valuing assets similar in type, size and structure to the Mortgage Asset in question, (B) having substantial familiarity with the market for such Mortgage Asset and (C) that is otherwise acceptable to the Administrative Agent in its discretion.

Current Appraisal. With respect to any Mortgage Loan as to which the Loss Mitigation Advisor has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Loss Mitigation Advisor at its own expense from an independent appraiser (which shall not be an affiliate of the Loss Mitigation Advisor) acceptable to the Master Servicer as nearly contemporaneously as practicable to the time of the Loss Mitigation Advisor's election, prepared based on the Master Servicer's customary requirements for such appraisals.

Current Appraisal. With respect to any Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its expense from an appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Depositor as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Depositor's customary requirements for such appraisals.

Current Appraisal means, with respect to each Mortgaged Property, an Appraisal of such Mortgaged Property issued no more than (i) sixty (60) days prior to the related Purchase Date (other than the Initial Purchased Loans), (ii) twelve (12) months prior to any date of determination, (iii) with respect to any Sub-Performing Mortgage Loan, within thirty (30) days of such Purchased Loan becoming a Sub-Performing Mortgage Loan, and (iv) with respect to any Defaulted Loan, within thirty (30) days of such Purchased Loan becoming a Defaulted Loan.

Current Appraisal shall have the meaning given to that term in Subparagraph 3.02(h) of the Purchase Agreement.