Dividend Mortgage Loan definition

Dividend Mortgage Loan. Each Mortgage Loan identified as such on the Mortgage Loan Schedule and which contains a provision entitling the Mortgagor thereunder to annual refunds, at the end of each of the first four years of the life of such Mortgage Loan, of a portion of the interest paid by such mortgagor during the preceding twelve months, if the conditions precedent to the entitlement to such refund as specified in the related Mortgage Note have been met.
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Dividend Mortgage Loan. Any Mortgage Loan, identified on Exhibit T hereto, containing provisions generally entitling the Mortgagor thereunder to receive Dividend Payments.
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Dividend Mortgage Loan. A Mortgage Loan originated under the Direct Access Dividend Program and identified as such on the Mortgage Loan Schedule.
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Examples of Dividend Mortgage Loan in a sentence

  • In addition, the Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note.

  • In addition, the Master Servicer shall make withdrawals from the Dividend Account, with respect to each Dividend Mortgage Loan, to remit on each Master Servicer Remittance Date to the Trustee for deposit into the Distribution Account, the Dividend Portions of Monthly Payments made by the related Mortgagor as to which such Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note.

  • In addition, the Servicer shall withdraw from the Dividend Account, with respect to each Dividend Mortgage Loan, and pay to the Depositor the Dividend Portions of Scheduled Payments as to which the related Mortgagor will not (as determined as of the related Determination Date) be entitled to be refunded in accordance with the terms of the related Mortgage Note.

Related to Dividend Mortgage Loan

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related 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.

  • Split Mortgage Loan Any Mortgage Loan that is part of a Loan Combination. The only Split Mortgage Loans that are assets of the Trust as of the Closing Date are those that have the respective loan numbers (as set forth on the Mortgage Loan Schedule) listed on the Loan Combination Table under the column heading “Loan No. for related Mortgage Loan.”

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • 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.

  • 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.

  • Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • 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.

  • Special Hazard Mortgage Loan A Liquidated Mortgage Loan as to which a Special Hazard Loss has occurred.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

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

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • 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.

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

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

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • Mortgage Loan Group Either Group I or Group II.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.