Fannie Mae Commitment definition

Fannie Mae Commitment. A commitment executed by Fannie Mae and the rxxxxxx Seller, evidencing Fannie Mae's agreement xx xxxcxxxe one or more Mortgage Loans from suxx Xxxler and such Seller's agreement to sell one or more Mortgage Loans to Fannie Mae by the applicable Commitment Expiration Date under the Appxxxxxxe Xxide.
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Fannie Mae Commitment means the Commitment issued by Mortgage Lender with respect to the Mortgage Loan, as the same may be amended.
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Fannie Mae Commitment shall have the meaning set forth in Section 1.08(a)(iii).
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Examples of Fannie Mae Commitment in a sentence

  • Here we consider the IRFs for Fannie Mae MBS yields, the spread between the Fannie Mae MBS yields and the yields on the 30-year Treasury, the Fannie Mae Commitment Rate, and equity returns on an index of homebuilders and an index of real estate investment trusts (REITs).

  • In addition to Lender’s receipt of the Good Faith Deposit described in this Commitment, Lender’s obtaining of the Fannie Mae Commitment shall be expressly conditioned upon satisfaction of each of the following conditions precedent, to the satisfaction of Lender and Lender’s Counsel (as hereinafter defined).

  • Borrower understands and acknowledges that as of the date hereof Lender has not obtained a Commitment from Fannie Mae to purchase the Mortgage Loan (“Fannie Mae Commitment”) and that the Fannie Mae Commitment will not be obtained by Lender pursuant to this Section 2 unless and until Borrower has satisfied all of the conditions precedent set forth in Section 3 of this Commitment.

  • The Yield Maintenance Period applicable to the Mortgage Loan Term shall be fourteen and one-half (14.5) years and the “Specified U.S. Treasury Security” will be determined by Fannie Mae at the time Lender obtains the Fannie Mae Commitment.

  • Before the Rate Setting Date, but in no event later than 24 hours prior to the Rate Setting Date, Borrower shall deposit with Lender, in immediately available funds, $929,102 (the “Good Faith Deposit”) to secure the performance of Borrower’s obligations under this Commitment and the Fannie Mae Commitment.

  • In addition, Borrower shall be liable to Lender for any damages, losses and expenses, including reasonable attorneys’ fees, incurred by Lender as a result of Lender’s inability to deliver the Mortgage Loan to Fannie Mae as required by the Fannie Mae Commitment resulting directly or indirectly from a default by the Borrower hereunder.

  • In the event of any conflict between the terms of this Commitment and the terms and conditions of the Fannie Mae Commitment or the DUS Guide, the terms and conditions of the Fannie Mae Commitment and/or the DUS Guide shall control.

  • Accordingly, since Fannie Mae interest rates and pricing options fluctuate from time to time, the actual interest rate selected by Borrower pursuant to subsection (ii) below (“Selected Interest Rate”) may be other than the Processed Interest Rate based on the Fannie Mae interest rate and price quotations at the time the Fannie Mae Commitment is obtained.


More Definitions of Fannie Mae Commitment

Fannie Mae Commitment means the commitment from Fannie Mae with respect to the Mortgage Loan.
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Fannie Mae Commitment has the meaning set forth in Section 2.02.
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Fannie Mae Commitment means Fannie Mae’s Commitment to the Loan Servicer, pursuant to which Fannie Mae has agreed, upon satisfaction of the terms and conditions set forth in the Fannie Mae Commitment, to provide credit enhancement and liquidity support for the Bonds effective as of the Conversion Date.
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Related to Fannie Mae Commitment

  • Takeout Commitment means a commitment of Seller to sell one or more Mortgage Loans to a Takeout Investor, and the corresponding Takeout Investor’s commitment back to Seller to effectuate the foregoing.

  • Unissued Letter of Credit Commitment means, with respect to any Issuing Bank, the obligation of such Issuing Bank to issue Letters of Credit for the account of the Borrower in an amount equal to the excess of (a) the amount of its Letter of Credit Commitment over (b) the aggregate Available Amount of all Letters of Credit issued by such Issuing Bank.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Total Loan Commitment means an amount equal to the aggregate amount of all Loan Commitments.

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Revolving Lenders as the same may be decreased pursuant to Section 2.12(c) or increased pursuant to Section 2.19. As of the Closing Date, the amount of the Total Revolving Commitment is $100,000,000.

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Facility A Commitment means, in relation to a Facility A Lender, the amount set opposite its name in column 1 of part E of schedule 1 or, as the case may be, in any relevant Transfer Certificate, as amended by any relevant term of this Agreement;

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Revolver Commitment means, with respect to each Lender, its Revolver Commitment, and, with respect to all Lenders, their Revolver Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Take-out Commitment means a commitment of Seller to either (a) sell one (1) or more identified Mortgage Loans to a Take-out Investor or (b) (i) swap one (1) or more identified Mortgage Loans with a Take-out Investor that is an Agency for an Agency Security, and (ii) sell the related Agency Security to a Take-out Investor, and in each case, the corresponding Take-out Investor’s commitment back to Seller to effectuate any of the foregoing, as applicable.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Extended Revolving Facility Commitment shall have the meaning assigned to such term in Section 2.21(e).

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Multicurrency Commitment means, with respect to each Multicurrency Lender, the commitment of such Multicurrency Lender to make Syndicated Loans, and to acquire participations in Letters of Credit and Swingline Loans, denominated in Dollars and in Agreed Foreign Currencies hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Multicurrency Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The amount of each Lender’s Multicurrency Commitment as of the Fourth Amendment Effective Date is set forth on Schedule 1.01(b), or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Multicurrency commitment, as applicable. The aggregate amount of the Lenders’ Multicurrency Commitments as of the Fourth Amendment Effective Date is $745,000,000.

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $500,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Delayed Draw Commitment as defined in the Second Amended and Restated Credit Agreement.

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).