Examples of First Lien Mortgage Loans in a sentence
Creditworthiness certificates from more than one bank, if submitted, will be added to arrive at the bank creditworthiness of the candidate.
All of the Mortgage Loans are First Lien Mortgage Loans or deeds of trust or similar security instruments on Mortgaged Properties consisting of residential properties including one- to four-family dwelling units, individual condominium units, individual units in planned unit developments and condotel units.
With respect to First Lien Mortgage Loans, all real property taxes and tax assessments affecting the Mortgaged Property which are due and payable prior to or on the Cut-off Date have been paid to the extent that (i) the amount of such due and payable taxes and tax assessment is Known to the Seller and (ii) the related Mortgage Loan is not subject to a bankruptcy proceeding in connection with which the amount of such taxes and tax assessments may be included in a related bankruptcy payment plan.
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Xxxxxx Capital and the Servicer agree that the provisions of the Seller's Warranties and Servicing Agreement, dated May 21, 1999 (Fixed and Adjustable Rate, Conventional First Lien Mortgage Loans), Group 0000-0 (xxx "XXXX") shall apply to the Serviced Mortgage Loans only to the extent provided herein and that this Reconstituted Servicing Agreement shall govern the Serviced Mortgage Loans for so long as such Serviced Mortgage Loans remain subject to the provisions of the Trust Agreement.
Mortgage Insurance Approximately 33.27% of the First Lien Mortgage Loans with over an 80% Current Loan-to-Value Ratio (“Current Combined LTV”) will be covered by lender paid primary mortgage insurance policies.
With respect to each Group I Mortgage Loan which is a Second- Lien Mortgage Loan (A) such lien is on a one-to four-family residence that is the principal residence of the related Mortgagor, and (B) the original principal balance of the related First-Lien Mortgage Loan plus the original principal balance of any subordinate lien mortgage loans relating to the same Mortgaged Property was within Freddie Mac's dollar amount limits for First- Lien Mortgage Loans for that property type.
AMRESCO Residential Securities Corporation Mortgage Loan Trust Series 1997-2 Adjustable Rate Certificates -------------------------------------------------------------------------------- GROUP II ADJUSTABLE RATE CERTIFICATES Collateral: Group II: Adjustable Rate, First Lien Mortgage Loans.
With respect to First Lien Mortgage Loans, all real property taxes and tax assessments affecting the Mortgaged Property which are due and payable prior to or on the Cut-off Date have been paid to the extent that (i) the amount of such due and payable taxes and tax assessment is known to the Seller and (ii) the related Mortgage Loan is not subject to a bankruptcy proceeding in connection with which the amount of such taxes and tax assessments may be included in a related bankruptcy payment plan.
These loans generally fall outside one or more parameters of their guidelines due to a variety of factors which include debt-to-income ratios, consumer credit matters, loan-to-value ratios, delinquency history, document deficiencies and loan amount exceptions.Mortgage InsuranceApproximately 19.71% of the First Lien Mortgage Loans with over an 80% Current Loan-to-Value Ratio (“Current Combined LTV”) will be covered by a borrower paid primary mortgage insurance policy.