First Lien Mortgage Loans definition

First Lien Mortgage Loans. Mortgage Loans secured by mortgages or deeds of trust or similar security instruments creating a first lien on the related Mortgaged Property. Fitch: Fitch, Inc., or any successor in interest.
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First Lien Mortgage Loans. A Mortgage Loan secured by a first lien on the related Mortgaged Property.
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First Lien Mortgage Loans. With respect to each Group 1 Mortgage Loan, no such first lien mortgage loan has an original principal balance that exceeds the applicable Xxxxxxx Mac loan limit.
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Examples of First Lien Mortgage Loans in a sentence

  • For purposes of the Existing Servicing Agreement, all HELOCs shall be treated by Servicer as Mortgage Loans, Eligible Mortgage Loans, Non-Agency Mortgage Loans (to the extent such provisions are applicable to HELOCs), and either as First Lien Mortgage Loans or Second Lien Mortgage Loans, as applicable, and as identified in the related Mortgage Loan Schedule.

  • The Borrower agrees that the First Lien Loan shall be used to warehouse fixed or adjustable rate, first lien, residential mortgage loans that are to be included in the First Lien Securitization (the "First Lien Mortgage Loans"), as such First Lien ------------------------- Mortgage Loans are identified to the Lender in writing and in electronic form from time to time.

  • 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.

  • With respect to First Lien Mortgage Loans, unless otherwise indicated on the final Mortgage Loan Schedule, the Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secure debt or other security instrument creating a lien subordinate to the lien of the Mortgage.

  • 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.

  • The Borrower agrees that the First Lien Loan shall be used to warehouse fixed or adjustable rate, first lien, residential mortgage loans that are to be included in the First Lien Securitization (the "First Lien ---------- Mortgage Loans"), as such First Lien Mortgage Loans are identified to the -------------- Lender in writing and in electronic form from time to time.

  • The Borrower agrees that the First Lien Loan shall be used to warehouse fixed or adjustable rate, first lien, residential mortgage loans that are to be included in the First Lien Securitization (the "First Lien Mortgage Loans"), as such First Lien -------------------------- Mortgage Loans are identified to the Lender in writing and in electronic form from time to time.

  • The Borrower agrees that the Second Lien Loan shall be used to warehouse fixed or adjustable rate, second lien, residential mortgage loans that are to be included in the Second Lien Securitization (the "Second Lien Mortgage Loans" and, together with the -------------------------- First Lien Mortgage Loans, the "Mortgage Loans"), as such Second Lien -------------- Mortgage Loans are identified to the Lender in writing and in electronic form from time to time.

  • 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.

  • 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.


More Definitions of First Lien Mortgage Loans

First Lien Mortgage Loans. With respect to a Mortgage Loan, the related Mortgage creates a first priority lien on such Mortgaged Property. GAAP: Generally accepted accounting principles in the United States of America as in effect form time to time.
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Related to First Lien Mortgage Loans

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

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

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

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

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

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

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

  • 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.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

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

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

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • First Lien Loans means the “Loans” (or any comparable term) as defined in the First Lien Credit Agreement.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

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

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.