First Payment Default Mortgage Loan definition

First Payment Default Mortgage Loan. Any Mortgage Loan (i) originated by LBB specified in Section 1.04(e) of the Mortgage Loan Sale and Assignment Agreement in respect of which the related Mortgagor does not make the first payment due to the Seller within the time frame required under such section or (ii) originated by LBB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement in respect of which the related Mortgagor does not make the first or second payment due to the Seller within the time frame required under such section. Fitch: Fitch Ratings or any successor in interest.

First Payment Default Mortgage Loan. Any Mortgage Loans as to which the related Mortgagor does not make the first payment due to the Seller within the time frame required under the Commitment Letter and which are identified on Schedule B hereof.

First Payment Default Mortgage Loan. Any Mortgage Loan listed in Schedule B, as to which the related Mortgagor fails to make the first Scheduled Payment that is due on such Mortgage Loan within one calendar month following the date upon which the first Scheduled Payment was due. By way of example, a first Scheduled Payment due on July 1, 2007 must be made by the Mortgagor on or before July 31, 2007. Fitch: Fitch, Inc., or any successor in interest.

Examples of First Payment Default Mortgage Loan in a sentence

• For example, a Mortgage Loan whose first monthly payment due the Purchaser is February 1, 2004 but such monthly payment is not received until after February 29, 2004, such Mortgage Loan is a First Payment Default Mortgage Loan and a Mortgage Loan whose first Monthly Payment due the Purchaser is March 1, 2004, such Mortgage Loan becomes a First Payment Default Mortgage Loan when the monthly payment is received after March 31, 2004.

• The purchase price paid for a First Payment Default Mortgage Loan which is required to be repurchased by a Transferor pursuant to the related PPTLS.

• With respect to any Mortgage Loan, if the related Mortgagor fails to make the first Monthly Payment due to the Purchaser after the related Closing Date within 30 days of the related Due Date, the Seller shall, upon receipt of notice from the Purchaser, promptly repurchase such Mortgage Loan (a "First Payment Default Mortgage Loan") from the Purchaser.

• The purchase price paid for a First Payment Default Mortgage Loan which is required to be repurchased by a Transferor pursuant to the Commitment Letter.

• In respect of the base provider funding rate for 2-year-olds (both disadvantaged and working family entitlements), 79% of providers submitting a response to the consultation indicated support for a base funding rate of £7.01 per hour for the 2024/25 financial year.

More Definitions of First Payment Default Mortgage Loan

First Payment Default Mortgage Loan. Any Mortgage Loan originated by Xxxxxx Brothers Bank, FSB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement and listed on Schedule B hereto in respect of which the related Mortgagor does not make the first or second payment due to the Seller within the time frame required under such section. Form 10-K Certification: The certification required pursuant to Rule 13a-14 under the Exchange Act.

First Payment Default Mortgage Loan. Any Mortgage Loan (i) originated by Xxxxxx Brothers Bank, FSB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement in respect of which the related Mortgagor does not make the first payment due to the Seller within the time frame required under such section or (ii) originated by Xxxxxx Brothers Bank, FSB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement in respect of which the related Mortgagor does not make the first or second payment due to the Seller within the time frame required under such section.

First Payment Default Mortgage Loan. Any Mortgage Loan originated by Countrywide Home Loans, Inc. and Liberty American Mortgage Corp. which do not make first payments due to the Seller within the time frame required under the related PPTLS or any Mortgage Loan specified in Section 1.04(e) of the Mortgage Loan Sale and Assignment Agreement in respect of which the related Mortgagor does not make the first payment due to the Seller within the time frame required under such section. Fitch: Fitch Ratings, Inc., or any successor in interest.

First Payment Default Mortgage Loan means a Mortgage Loan which becomes a Defaulted Loan as a result of the related Mortgagor failing to make the first payment due under the related Mortgage Note.

First Payment Default Mortgage Loan. Not applicable. Fitch: Fitch, Inc., or any successor in interest.

First Payment Default Mortgage Loan. Any Mortgage Loan originated by Option One or EquiFirst which does not make the first payments due to the Seller within the time frame required under the related PPTLs or any Mortgage Loan originated by BNC specified in Section 1.04(e) of the Mortgage Loan Sale and Assignment Agreement in respect of which the related Mortgagor does not make the first payment due to the Seller within the time frame required under such section. Fitch: Fitch Ratings, Inc., or any successor in interest.

First Payment Default Mortgage Loan. Any Mortgage Loan (i) originated by Xxxxxx Brothers Bank, FSB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement in respect of which the related Mortgagor does not make the first payment due to the Seller within the time frame required under such section or (ii) originated by Xxxxxx Brothers Bank, FSB specified in Section 1.04(e) of the Mortgage Loan Sale Agreement in respect of which the related Mortgagor does not make the first or second payment due to the Seller within the time frame required under such section. Fitch: Fitch Ratings, Inc., or any successor in interest.