Delivered Mortgage Loan definition

Delivered Mortgage Loan is defined in the Custodial Agreement.
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Delivered Mortgage Loan. Each mortgage loan delivered by Sellers potentially for purchase by Buyer pursuant to the terms of the Master Repurchase Agreement, prior to the time of its purchase.
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Examples of Delivered Mortgage Loan in a sentence

  • By execution of this Agreement, Custodian represents and warrants that it currently holds, and during the existence of this Agreement shall hold, no adverse interest, by way of security or otherwise, in any Delivered Mortgage Loan or Purchased Mortgage Loan, and hereby waives and releases any such interest which it may have in any Delivered Mortgage Loan or Purchased Mortgage Loan as of the date hereof.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 000 Xxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx or at such other offices of the Custodian in the State of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan identified in the Schedule at the office of the Custodian located at 000 Xxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx or at such other offices of the Custodian in the State of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 110 Office Park Drive, Birmingham, Alabama or at such other offices xx xxx Xxxxxxxxx xx xxx Xxxxx xx Xxxxxxx as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 110 Office Park Drive, Birmingham, Xxxxxxx xx xx xxxx xxxxx xxxxxxx xx xxx Xxstodian in the State of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 110 Office Park Drive, Xxxxxxxxxx, Xxxxxxx xx xx xxxx xxxxx xxxices of the Custodian in the State of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 110 Office Park Drive, Birmingham, Alabama or at such other offices ox xxx Xxxxxxxxx xx xxx Xxxxx xx Xxxxxxx xx the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan identified in the Schedule at the office of the Custodian located at 0000 Xxxxxxxxxx Xxxx, Xxxxxxx, Xxxxxxxxx 00000 or at such other offices of the Custodian in the State of Tennessee as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered --------------------- Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 000 Xxxxxx Xxxx Xxxxx, Xxxxxxxxxx, Xxxxxxx or at such other offices of the Custodian in the State of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

  • The Custodian agrees to maintain the Delivered Land-and-Home Contract Files for each Land-and-Home Contract and the Delivered Mortgage Loan Files for each Mortgage Loan, if any, identified in the Schedule at the office of the Custodian located at 110 Office Park Drive, Birmingham, Alabama or at such otxxx xxxxxxx xx xxx Xxxxxxxxx xx xxx Xxxxx of Alabama as the Custodian shall designate from time to time after giving the Servicer and the Trustee at least 10 days' prior written notice.

Related to Delivered Mortgage Loan

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • MERS Designated Mortgage Loan Mortgage Loans for which (a) the Seller has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Seller, in accordance with MERS Procedures Manual and (b) the Seller has designated or will designate the Purchaser as the Investor on the MERS System.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.

  • Nonsubserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Non-MERS Mortgage Loan Any Mortgage Loan other than a MERS Mortgage Loan.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Defective Mortgage Loan Any Mortgage Loan which is required to be repurchased pursuant to Section 2.02 or 2.03.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.