Early Payment Default definition

Early Payment Default means any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (or such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default means any provision of the Sale Agreement or any related agreement to which NatCity and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Early Payment Default means any provision of the Sale and Servicing Agreement or any related agreement to which any PHH Party and the Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

Examples of Early Payment Default in a sentence

• For purposes of this Section, "Early Payment Default" shall mean any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (or such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

• For purposes of this Section, "Early Payment Default" shall mean any provision of the Sale Agreement or any related agreement to which GreenPoint and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

• In connection with any such Early Payment Default and automatic breach, the Seller shall be required to repurchase or replace such Mortgage Loans with Qualified Substitute Mortgage Loans in accordance with the terms and provisions of Section 2.03(c).

• For purposes of this Section, "Early Payment Default" shall mean any provision of the Sale Agreement or any related agreement to which NatCity and Assignor are parties that is designated as an "early payment default" provision of otherwise provides for the repurchase of any Mortgage Loan in the event of a default in the first (of such other number as may be specified in such provision) scheduled payment due under such Mortgage Loan after the closing or other date specified in such agreement.

• With respect to each Mortgage Loan, the Servicer agrees deliver to the Owner, on or prior to the fifth Business Day of each month, a report setting forth information with respect to (a) any Early Payment Default provisions or (b) any prepayments in full of the Mortgage Loan.

More Definitions of Early Payment Default

Early Payment Default means a loan for which any of the first four (4) payments due after purchase of the loan by Arc Home becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc Home or its affiliates.

Early Payment Default or “EPD” means a loan for which any of the first four (4) payments due after purchase of the Loan by Arc becomes ninety (90) or more days delinquent and such delinquency is not attributable to an error in servicing or other material error of Arc or its affiliates.

Early Payment Default. As defined in the applicable Mortgage Loan Purchase Agreement or any like term, definition or provision thereunder relating to the Originator’s obligation to repurchase a related Mortgage Loan in accordance with the terms of such Mortgage Loan Purchase Agreement that becomes delinquent or defaults after the sale to the Seller of such Mortgage Loan.

Early Payment Default means either a Borrower has missed one or more payments under a Mortgage Loan and has not brought said delinquency current prior to the Purchase of the Mortgage Loan by the Servicer, or one of the first three payments due to the Servicer have not been made by the Borrower, in either case which directly results in the Mortgage Loan being ineligible for delivery into a GNMA Security, Xxxxxx Mae Security or Xxxxxxx Mac Security, or the Borrower defaults on the Mortgage Loan by having 3 delinquent payments, one of those payments from the first three payment due to the Servicer, resulting in 90 days delinquency and the Mortgage Loan has been serviced by the Servicer for less than seven months.

Early Payment Default means a Loan that becomes sixty (60) days delinquent within the first one hundred

Early Payment Default. With respect to the Mortgage Loan purchased under any Purchase Agreement, the failure of the related Mortgagor to make the first two Scheduled Payments due the Owner within thirty (30) days of each Due Date, or such other provision as specified by the Owner to the Servicer. Eligible Investments: Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than one day prior to the Remittance Date in each month (or such other date as permitted under this Agreement):

Early Payment Default. With respect to the Mortgage Loan purchased under any Purchase Agreement, the failure of the related Mortgagor to make the first three Scheduled Payments due the Owner within thirty (30) days of each Due Date, or such other provision as specified by the Owner to the Servicer in the related Mortgage Loan Schedule.