Excess Yield definition
Excess Yield means with respect to any Released Excess Yield Mortgage and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for the related pool multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12, (ii) the applicable Credit Fee in Yield payable to Freddie Mac on a monthly basis, (iii) the Minimum Servicing Spread multiplied by the unpaid principal balance of such Released Excess Yield Mortgage divided by 12, and (iv) the maximum amount 6 Credit and Security Agreement / of any premiums required to be paid by Servicer for any related underlying mortgage lender-purchased mortgage insurance renewal premium.
Excess Yield has the meaning set forth in the Freddie Mac Acknowledgment Agreement in relation to any Released Excess Yield Mortgage.
Excess Yield means the Excess Servicing Fee less the minimum amount required to pay lender paid mortgage insurance renewal premiums, if any, for such loan.
Examples of Excess Yield in a sentence
The Trustee shall cause to be maintained at one of its offices or at its designated agent, a Certificate Register in which there shall be recorded the name and address of each Certificateholder and of the Excess Yield Interest Holder.
Promptly after the execution of any such amendment, the Trustee shall furnish written notification of the substance of such amendment to the Delaware Trustee, the Excess Yield Interest Holder and each Certificateholder.
Washington Mutual Bank, FA shall be recorded in the Certificate Register as the initial Excess Yield Interest Holder.
As to each Trust, the related Pooled Securities or Excess Yield Amounts, as applicable.
The obligations of the Seller to deposit Excess Yield Amounts, upon receipt, into a custodial account prior to remittance to the Trustee for deposit to the Certificate Account are set forth in the Fee Reduction Letter.
More Definitions of Excess Yield
Excess Yield means, with respect to any Released Excess Yield Mortgage and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for security backed by the related pool (“MBS”), (ii) the guaranty fee rate applied to that mortgage loan in connection with the MBS, (iii) the Minimum Servicing Spread required under the ▇▇▇▇▇▇ ▇▇▇ Guide and (iv) the premium amounts for monthly lender-purchased mortgage insurance, if any, required to be paid by Borrower from interest amounts payable on that mortgage loan (such amounts being converted to an annual rate).
Excess Yield shall have the meaning given to such term in Section 5A.10 of the Participation Agreement.
Excess Yield means with respect to each Mortgage Loan that is a Released Excess Yield Mortgage and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for the security backed by the related pool (such security, the “MBS”) multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12, (ii) the guaranty fee rate applied to that mortgage loan in connection with the MBS multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12, (iii) the Minimum Servicing Spread multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12 and (iv) the premium amounts for lender-purchased mortgage insurance, if any, required to be paid by the Borrower from interest amounts payable on that mortgage loan multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12.
Excess Yield means, (A) with respect to each ▇▇▇▇▇▇▇ Mac Mortgage Loan that is a Released Excess Yield Mortgage, and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for the related pool multiplied by the unpaid principal balance of such Released Excess Yield Mortgage and divided by 12, (ii) the applicable Credit Fee in Yield payable to ▇▇▇▇▇▇▇ ▇▇▇ on a monthly basis, (iii) the Minimum Servicing Spread multiplied by the unpaid principal balance of such Released Excess Yield Mortgage divided by 12, and (iv) the maximum amount of any premiums required to be paid by Servicer for any related underlying mortgage lender-purchased mortgage insurance premium, and (B) with respect to any ▇▇▇▇▇▇ ▇▇▇ Mortgage Loan that is a Released Excess Yield Mortgage and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for security backed by the related pool (“MBS”), (ii) the guaranty fee rate applied to that mortgage loan in connection with the MBS, (iii) the Minimum Servicing Spread required under the ▇▇▇▇▇▇ ▇▇▇ Guide and (iv) the premium amounts for monthly lender-purchased mortgage insurance, if any, required to be paid by Borrower from interest amounts payable on that mortgage loan (such amounts being converted to an annual rate) (such result the “Excess Yield (Fannie))”.
Excess Yield means with respect to each Fannie Mae Mortgage Loan that is a Released Excess Yield Mortgage and each monthly payment period for the pools relating to such Released Excess Yield Mortgage, the interest-rate cash flow that remains after subtracting the sum of (i) the applicable pass-through rate for security backed by the related pool (“MBS”), (ii) the guaranty fee rate applied to that mortgage loan in connection with the MBS, (iii) the Minimum Servicing Spread and (iv) the premium amounts for monthly lender-purchased mortgage insurance, if any, required to be paid by Borrower from interest amounts payable on that mortgage loan (such amounts being converted to an annual rate).
Excess Yield means, as of the date of determination, the excess of the ------------ Purchased Yield over the Receivables Yield.
Excess Yield. When used with respect to distributions on a Distribution Date, with respect to a Loan, an amount equal to the product of the related Excess Yield Rate and the stated principal balance of the Loan, calculated on the same principal balance and for the same period as interest and pass-through interest on the related Loan at the Loan Interest Rate was calculated.