We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

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 shall have the meaning given to such term in Section 5A.10 of the Participation Agreement.

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.

  • Excess Yield Securities are securities backed by the excess servicing income relating to mortgages underlying previously issued Ginnie Mae mortgage-backed securities.

  • Washington Mutual Bank, FA shall be recorded in the Certificate Register as the initial Excess Yield Interest Holder.

  • Amounts distributed pursuant to clause (i) above shall be distributed by wire transfer in immediately available funds for the account of the Excess Yield Interest Holder or by any other means of payment specified by the Excess Yield Interest Holder to the Trustee.


More Definitions of Excess Yield

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.
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 Xxxxxx Xxx 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 means, (A) with respect to each Xxxxxxx 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 Xxxxxxx Xxx 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 Xxxxxx Xxx 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 Xxxxxx Xxx 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 shall have the meaning given to such term in Section 5A.10 of the Participation Agreement. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder. “Excluded Active Subsidiaries” shall mean collectively the following Subsidiaries of any Credit Party: (a) any Captive Insurance Entity, (b) any Qualified Community Development Entity and any Subsidiary of a Qualified Community Development Entity, and (c) the Subsidiaries of the Parent listed on Schedule XII; each of which is referred to individually as an “Excluded Active Subsidiary”. Any Excluded Active Subsidiary that joins the Participation Agreement as a Guarantor pursuant to Section 6B.9 of the Participation Agreement shall cease to be an Excluded Active Subsidiary. “Excluded Equipment” shall mean equipment, apparatus, furnishings, fittings and personal property of every kind and nature whatsoever that is not Equipment. “Excluded Inactive Subsidiaries” shall mean collectively the Subsidiaries of the Parent listed on Schedule XIII, each of which is referred to herein individually as an Excluded Inactive Subsidiary. Any Excluded Inactive Subsidiary which joins the Participation Agreement as a Guarantor pursuant to Section 6B.9 of the Participation Agreement shall cease to be an Excluded Inactive Subsidiary. “Exculpated Persons” shall mean the Lessor Parties (except with respect to the representations and warranties and the other obligations of the Lessor Parties pursuant to the Operative Agreements expressly undertaken in their respective individual capacities, including the representations and warranties of the Lessor Parties pursuant to Section 6.2 of the Participation Agreement and the obligations of the Lessor Parties under Section 8.2 of the Participation Agreement) and their respective Affiliates, successors, assigns, shareholders, members, managers, partners, agents, officers, directors or employees.
Excess Yield means the annualized percentage equivalent of a fraction (computed as of the last day of each calendar month), the numerator of which is the excess of (x) all Finance Charge Collections received and applied during such calendar month over (y) the sum of the Servicing Fee, the Earned Returns for all Undivided Interests, all Fees accrued during such calendar month and the aggregate Unpaid Balance of all Principal Receivables that became Defaulted Receivables during such calendar month, and the denominator of which is the average aggregate Unpaid Balance of the Principal Receivables during such calendar month.
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