Early Payoff definition

Early Payoff means a loan that is paid in full within 180 days following the Purchase Date.
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Early Payoff means the Loan is paid in full within one hundred eighty (180) days after the Sale Date or such shorter period of time as may be set forth in the Guides.
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Early Payoff. With respect to any Mortgage Loan that becomes an “Early Payoff” as defined hereinabove, Broker shall pay to Lender within five (5) business days following notice of such prepayment, any and all Broker compensation and other amounts received from Lender or from the applicable borrower in such transaction.
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Examples of Early Payoff in a sentence

  • A Purchaser under a Monthly Purchase option who makes a Lump Sum payment to complete the Total Contract Price before the final Monthly Purchase Amount is due will receive an Early Payoff Discount (currently 6.25%) on the unpaid remaining balance at the rate set annually by the Board (see Program Fee Chart).

  • Broker shall not solicit or encourage, directly or indirectly, the refinancing of a Loan submitted by Broker to ARC HOME during the Early Payoff period as defined in Section 6 below.

  • For the avoidance of doubt, if any Package submitted by ▇▇▇▇▇▇ and funded by ARC HOME is paid in full on the same calendar day as the day in which ARC HOME receives the sixth (6th) monthly payment, an Early Payoff shall be deemed to have occurred.

  • The Purchaser may submit additional Monthly Purchase Amounts early without penalty, but will still be obligated to the Total Contract Price, unless Purchaser submits an Early Payoff Request (see Section 8.E).

  • In order for the Early Payoff Discount to be applied by the Program the contract may not be delinquent or converted to a different Plan Option (see Section 11) to bring the Contract current on payments, and all Program Fees must be paid in full.

  • A Purchaser under a Monthly Purchase option who makes a Lump Sum payment to complete the Total Contract Price before the final Monthly Purchase Amount is due will receive an Early Payoff Discount on the paid remainder balance at the rate set annually by the Board (see Program Fee Chart).

  • Purchaser may change its Early Payoff Policy at any time and from time to time.

  • For the avoidance of doubt, if any Package submitted by ▇▇▇▇▇▇ and funded by ARC HOME is paid in full and the home equity line of credit account is closed on the same calendar day as the day in which ARC HOME receives the third (3rd) monthly payment, a HELOC Early Payoff shall be deemed to have occurred.

  • The Purchaser may submit Monthly Purchase Amounts early without penalty, but will still be obligated to the Total Contract Price, except as provided for under Early Payoff (see Section 8.

  • Early Payoff Defaults (EPD) / Early Payoff (EPO): As defined in section 8.15 and 8.16.


More Definitions of Early Payoff

Early Payoff means a Loan that is paid in full within one hundred and eighty (180) days of consummation or such shorter period of time as may be set forth in the Guides.
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Early Payoff or “EPO” means a Loan that is paid in full or has aggregate curtailments in excess of 30% of the principal balance, within two hundred and seventy (270) days of closing, or within such other time period as may be set forth in the Guides.
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Early Payoff means the payment in full of the Finance Agreement prior to its original scheduled maturity date.
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Early Payoff means a Loan that is paid in full within one hundred and eighty (180) days or before the sixth regular mortgage payment after consummation, whichever occurs later, or within such other time period as may be set forth in the Guides.
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Related to Early Payoff

  • Monthly Payments has the meaning set forth in Section 7.2B.

  • Monthly Payment The scheduled monthly payment of principal and interest on a Mortgage Loan.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Assumed Monthly Payment With respect to (a) any Mortgage Loan that is a Balloon Mortgage Loan delinquent in respect of its Balloon Payment beyond the Determination Date immediately following its scheduled maturity date (as such date may be extended in connection with a bankruptcy, insolvency or similar proceeding involving the related Borrower or by reason of a modification, waiver or amendment granted or agreed to by the applicable Master Servicer or the applicable Special Servicer), for that scheduled maturity date and for each subsequent Due Date as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due with respect to such Mortgage Loan on such Due Date equal to the amount (exclusive of Default Interest and any Post-ARD Additional Interest) that would have been due in respect thereof on such Due Date if such Mortgage Loan had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule (if any), in effect immediately prior to, and without regard to the occurrence of, such maturity date; and (b) any REO Mortgage Loan, for any Due Date as of which the related REO Property (or, in the case of any REO Mortgage Loan that is a successor to any Mortgage Loan in a Loan Combination, any interest in the related REO Property) remains part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Monthly Payment (or, in the case of a Balloon Mortgage Loan described in clause (a) of this definition, the Assumed Monthly Payment) that was due (or deemed due) with respect to the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan.

  • Prepaid Monthly Payment Any Monthly Payment received prior to its scheduled Due Date, which is intended to be applied to a Mortgage Loan on its scheduled Due Date and held in the related Custodial Account for P&I until the Withdrawal Date following its scheduled Due Date.