Eligible Mortgage Collateral definition

Eligible Mortgage Collateral means Eligible Mortgage Loans and the Collection Account.
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Eligible Mortgage Collateral means Mortgage Collateral which meets the requirements of Eligible Collateral described in Subsection 1.1.17 above.
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Eligible Mortgage Collateral means, at any time, all Eligible-Mortgage Loans and all Eligible-Mortgage Securities.
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Examples of Eligible Mortgage Collateral in a sentence

  • The Borrower represents and warrants that each request for any release or transfer pursuant to Section 3.3(a) or Section 3.3(b) shall automatically constitute a representation and warranty to the effect that immediately before and after giving effect to such release or Transfer Request, the Collateral Value of Eligible Mortgage Collateral shall equal or exceed the Principal Debt.

  • However, neither the Borrower nor the Servicer on its behalf shall request transfers if (A) total Principal Debt will exceed the total Collateral Value of Eligible Mortgage Collateral immediately after giving effect to a requested transfer, or (B) the Collateral Agent shall have received written notice from the Administrative Agent that a Default or Event of Default has occurred.

  • Seattle Bank may require, before or during the period when any Advance is made to Customer, that Customer make any or all Eligible Securities Collateral, all Mortgage Documents for Eligible Mortgage Collateral and any other documents pertaining to Eligible Collateral, including without limitation any agreements between Customer and its servicing agents, available to Seattle Bank for its inspection and approval.

  • Notwithstanding any provision to the contrary, the Collateral Agent shall not release any Collateral unless payment of the purchase price by the Approved Investor shall have been made in immediately available funds to the Collection Account; provided, however, that the foregoing shall not apply if immediately before and after giving effect thereto, the total Collateral Value of Eligible Mortgage Collateral shall equal or exceed the Principal Debt.

  • The Borrower shall, within one (1) Business Day, make a mandatory prepayment on the Principal Debt owed to the Lenders if, at any time, and to the extent that, (i) the Principal Debt owed to the Lenders exceeds the Maximum Facility Amount or (ii) the Principal Debt exceeds the total Collateral Value of all Eligible Mortgage Collateral.

  • In the same vein, the investigator must also obtain information that is not apparent and must be extracted from a source (by searching on documents and records, interviewing witnesses, et al.).

  • However, requested transfers will not be made if (A) as reflected on the most recent Borrowing Report, total Principal Debt will equal or exceed the total Collateral Value of Eligible Mortgage Collateral immediately after giving effect to a requested transfer and any accompanying substitution of Mortgage Collateral, or (B) the Collateral Agent shall have received written notice from the Administrative Agent that a Default or Event of Default has occurred.

  • However, requested transfers will not be made if (A) as reflected in the most recent Borrowing Report, total Principal Debt will equal or exceed the total Collateral Value of Eligible Mortgage Collateral immediately after giving effect to a requested transfer and any accompanying substitution of Mortgage Collateral, or (B) the Collateral Agent shall have received written notice from the Administrative Agent that a Default or Event of Default has occurred.

  • The DHA was interviewed and confirmed they are on-site every week for at least two hours.

  • It is also recommended that you familiarize yourself with the test component descriptions below to help identify that part of the job that we will be measuring in the exam.


More Definitions of Eligible Mortgage Collateral

Eligible Mortgage Collateral means Eligible Mortgage Loans and the Collection Account. “Eligible Mortgage Loan” means a Mortgage Loan:
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Eligible Mortgage Collateral means, on any day, all Eligible Mortgage Loans and Eligible Mortgage-backed Securities.
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Related to Eligible Mortgage Collateral

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Eligible Mortgage Loan means a Mortgage Loan (including a Wet Funded Loan) with respect to which each of the following statements shall be accurate and complete (and Borrower, by including such Mortgage Loan in any computation of the Borrowing Base, shall be deemed to so represent and warrant to the Lenders as of the date of such computation):

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Hedge Collateral Defined in Section 5.3(b).

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Eligible Mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

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

  • REMIC Eligible Mortgage Loan A Mortgage Loan held by a REMIC which satisfies and/or complies with all applicable REMIC Provisions.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • UCC Collateral is defined in Section 3.03.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

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

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Facility Mortgage As defined in Section 13.1.