Defective Mortgage Loan. Any Mortgage Loan which is required to be repurchased pursuant to Section 2.02 or 2.03.
Defective Mortgage Loan is any Mortgage Loan as to which there is an unremedied Material Breach or Material Document Defect.
Defective Mortgage Loan. The meaning specified in Section 2.04.
Examples of Defective Mortgage Loan in a sentence
No mortgage loan may be substituted for a Defective Mortgage Loan as contemplated by this Section 2.03(a) if the Mortgage Loan to be replaced was itself a Qualified Substitute Mortgage Loan that had replaced a prior Mortgage Loan, in which case, absent a cure (including by the making of a Loss of Value Payment pursuant to the following paragraph) of the relevant Material Defect, the affected Mortgage Loan will be required to be repurchased.
More Definitions of Defective Mortgage Loan
Defective Mortgage Loan. A Mortgage Loan replaced or to be replaced by one or more Eligible Substitute Mortgage Loans.
Defective Mortgage Loan. As defined in Section 2.03(a) of this Agreement.
Defective Mortgage Loan. Any Mortgage Loan as to which there exists a Material Breach or a Material Document Defect that has not been cured in all material respects.
Defective Mortgage Loan means a Mortgage Loan subject to retransfer pursuant to Section 2.02 or 2.04.
Defective Mortgage Loan has the meaning set forth in Section 2.3(a).
Defective Mortgage Loan. As defined in Section 3.04(3).
Defective Mortgage Loan. Any Mortgage Loan which is required to be purchased by the Company (or which the Company may replace with a substitute Mortgage Loan) pursuant to Section 2.02 or 2.03(a).