Fixed Rate Mortgage definition

Fixed Rate Mortgage means a mortgage which is referred to as a “Fixed Rate Mortgage” in the Loan Agreement.

Fixed Rate Mortgage means a mortgage which has a fixed rate of interest specified in the Charge.

Fixed Rate Mortgage means (until the rate of interest chargeable in relation thereto becomes the Standard Rate, whereupon the relevant Mortgage shall be a Standard Mortgage) a Mortgage where the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is fixed by reference to a pre-determined rate or series of rates (and is not capable of being reset monthly or quarterly at will by the Administrators or the Issuer) for a fixed period or periods, after which the rate of interest chargeable becomes the Standard Rate;

Examples of Fixed Rate Mortgage in a sentence

• The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled, "National City Mortgage Corp., in trust for the Purchaser of Conventional Residential Fixed Rate Mortgage Loans, Group No. 2001-1 and various Mortgagors".

• The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled "National City Mortgage Corp in trust for the Purchaser of Conventional Residential Conventional Residential Fixed Rate Mortgage Loans, Group No. 2001-1 and various Mortgagors".

• Notwithstanding Clause 8.1 herein, whenever Clause 8.6 of the Mortgage Sale Agreement applies to a Fixed Rate Mortgage Loan, the Administrator may accept an application from a Borrower to set the Existing Borrowers' Re-Fix Rate, subject to the terms of Clause 4.4 herein.

• Each Fixed Rate Mortgage Bond bears interest on its outstanding nominal amount (or, if it is a Partly Paid Mortgage Bond, the amount paid up) from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest.

• The Fixed Rate Mortgage Loans will include “credit comeback loans” that provide borrowers the potential of four Mortgage Rate reductions for good payment history during any one or more of the first four consecutive twelve-month periods following the origination date of the loan (“Fixed Rate Credit Comeback Loans”).

More Definitions of Fixed Rate Mortgage

Fixed Rate Mortgage means (until the rate of interest chargeable in relation thereto becomes the Standard Rate, whereupon the relevant Mortgage shall be a Standard Mortgage) a Mortgage where the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is fixed by reference to a pre-determined rate or series of rates for a fixed period or periods after which the rate of interest chargeable becomes the Standard Rate or such other Mortgage pursuant to which the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is, for a fixed period or periods, not capable of being reset monthly or quarterly at will by PPF, the Administrator or the Issuer;

Fixed Rate Mortgage means (until the rate of interest chargeable in relation thereto becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits determined quarterly, whereupon the relevant Mortgage shall be a Standard Mortgage) a Mortgage where the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is fixed by reference to a pre-determined rate or series of rates for a fixed period or periods after which the rate of interest chargeable becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits determined quarterly, pursuant to which the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is, for a fixed period or periods, not capable of being reset monthly or quarterly at will by the Administrator or the Issuer;

Fixed Rate Mortgage means a mortgage which is referred to as a “Fixed Rate Mortgage” in the Loan Agreement. “Fixtures” means fixtures and improvements, fixed or otherwise, including, without limiting the generality of the foregoing, all fences, above ground and underground storage tanks, heating, piping, plumbing, aerials, air conditioning, ventilating, lighting and water heating equipment, cooking and refrigeration equipment, cleaning and drying equipment, appliances, window blinds, radiators and covers, fixed mirrors, storm windows and storm doors, window screens and screen doors, shutters and awnings, floor coverings, and all apparatus and equipment appurtenant thereto, and all farm machinery and improvements, fixed or otherwise and even though not attached to the lands otherwise than by their own weight.

Fixed Rate Mortgage means a mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.

Fixed Rate Mortgage means (until the rate of interest chargeable in relation thereto becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits (or any replacement rate as determined by an Administrator in the event that the rate for the three-month London Inter-Bank Offered Rate for GBP deposits is discontinued or is or becomes unavailable) determined quarterly, whereupon the relevant Mortgage shall be a Standard Mortgage a Mortgage where the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is fixed by reference to a pre-determined rate or series of rates for a fixed period or periods after which the rate of interest chargeable becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits determined quarterly, pursuant to which the rate of interest payable by the Borrower in accordance with the Mortgage Conditions relating thereto is, for a fixed period or periods, not capable of being reset monthly or quarterly at will by the Administrators or the Issuer;

Fixed Rate Mortgage means a Mortgage which is stated to be a Fixed Rate Mortgage in Box 5;

Fixed Rate Mortgage. A Mortgage Loan that provides for periodic equal installments of principal and interest with no change in the initial interest rate throughout the term of the Mortgage Loan and complies with FHLBB BB regulatory requirements for such loans. FNMA: Federal National Mortgage Association.