Float Benefit definition

Float Benefit means the net economic benefit resulting from investments of funds representing escrow and custodial deposits held for the account of the servicer or subservicer, or the related Agency relating to the Mortgage Loans.
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Float Benefit. All benefit (including interest or earnings) related to the Escrow Accounts (net of amounts due to the related Mortgagors under applicable law) and the Custodial Accounts, as applicable, with respect to the Mortgage Loans.
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Float Benefit means the net economic benefit resulting from prepayment balances and balances held in the Custodial Accounts and Escrow Accounts to be calculated using the methodology set forth in Exhibit J to this Agreement.
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Examples of Float Benefit in a sentence

  • BANA shall be entitled to all Float Benefit derived from all depository accounts.


More Definitions of Float Benefit

Float Benefit. All benefit (including interest or earnings), not due to the applicable Agency or the Mortgagors under the related Agency Guidelines, related to the Escrow Accounts and the Custodial Accounts, as applicable, with respect to the Mortgage Loans during the Interim Servicing Period.
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Float Benefit. The net economic benefit resulting from escrow and custodial deposits held for the account of Servicer relating to the Subservicing. The Float Benefit is based on Servicer’s selection of the investment facility or interest rate swap or other arrangement offered from time to time by the financial institution holding custodial deposits, and includes, without limitation, any compensating balance earnings credits and interest and other earnings on and in respect of such deposits.
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Float Benefit means the net economic benefit resulting from Custodial Accounts, the Depository Accounts, and all other deposits held by BANA as custodian for the account of Client or an Investor relating to the Servicing. The Float Benefit is based on BANA’s selection of the investment facility or interest rate swap or other arrangement offered from time to time by the financial institution holding custodial deposits, including, without limitation, compensating balance earnings credit, lines of credit, interest and other earnings on deposit balances and any other economic consideration realized by Client resulting from control of the custodial deposits. “Foreclosure” means, after a Mortgage Loan has defaulted, the procedure pursuant to which a lien holder acquires title to a Mortgaged Property in a foreclosure sale, or pursuant to any other comparable procedure allowed under Applicable Law. “Xxxxxx Xxx” means the Government National Mortgage Association, a division of HUD or any successor thereto. “Xxxxxx Mae Guide” means the Xxxxxx Xxx Mortgage-Backed Securities Guide and all amendments or additions thereto. “Xxxxxx Mae Pooling Request” means a email request from Client to BANA’s Investor Accounting Group to provide comments to the Pool Data attached to such request in connection with the Client’s preparation of submissions of HMBS pools to Xxxxxx Xxx pursuant to Section 3.09. “GNMA II Custom MBS Program” shall be as defined in the Xxxxxx Mae Guide. “Group 1 Mortgage Loans” means the Mortgage Loans related to the Group 1 Assets. “Group 6 Mortgage Loans” means the Mortgage Loans related to the Group 6 Assets. “Group 8 Mortgage Loans” means the Mortgage Loans related to the Group 8 Assets. “Guaranty Agreement” means the Guaranty Agreement, by and between Nationstar Mortgage LLC, as issuer and Xxxxxx Xxx. “Guaranty Fee” means the monthly guaranty fee that a Xxxxxx Mae issuer is required to pay to Xxxxxx Xxx for each HMBS for which such issuer is the issuer of record. “Home Equity Conversion Mortgage” (or “HECM Loan”) means a reverse mortgage loan under FHA’s Home Equity Conversion Mortgage program administered by the FHA. “HECM Policy” means a mortgage insurance policy administered by the FHA with respect to reverse mortgage loans in accordance with the FHA Regulations and other HUD publications relating to HECM Loans, including, without limitation, related handbooks, circulars, notices and mortgagee letters. “HMBS” means a Xxxxxx Mae security backed by HECM loan particip...
Sample 1
Float Benefit means the net economic benefit resulting from Custodial Accounts, the Depository Accounts, and all other deposits held by BANA as custodian for the account of Client or an Investor relating to the Servicing. The Float Benefit is based on BANA’s selection of the investment facility or interest rate swap or other arrangement offered from time to time by the financial institution holding custodial deposits, including, without limitation, compensating balance earnings credit, lines of credit, interest and other earnings on deposit balances and any other economic consideration realized by Client resulting from control of the custodial deposits.
Sample 1
Float Benefit means all benefit, not due to an Agency or the Mortgagors under the related Servicing Agreement, related to the Custodial Accounts, as applicable, with respect to the Mortgage Loans Foreclosure: The procedure pursuant to which a lienholder acquires title to a Mortgaged Property in a foreclosure sale, or a sale under power of sale, or other acquisition of title to the Mortgaged Property based upon a default by the Mortgagor under the Mortgage Loan Documents, under the law of the state wherein the Mortgaged Property is located.
Sample 1
Float Benefit means the net economic benefit resulting from investments of funds representing escrow and custodial deposits held for the account of Borrower or Subservicer, or the Applicable Agency relating to the Mortgage Loans.
Sample 1

Related to Float Benefit

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Retirement Benefit means the benefit set forth in Article 5.

  • relevant benefit means any benefit specified in paragraph 21(2); and

  • Normal Retirement Benefit means an annual benefit equal to One Hundred Fifty Thousand Dollars and No/100 ($150,000.00) per year, payable in accordance with the terms of this Agreement. Beginning on the thirteenth month that the Normal Retirement Benefit is paid, and continuing thereafter until paid in full, the Normal Retirement Benefit shall be increased annually by three percent (3%) from the previous year’s Normal Retirement Benefit amount to account for cost of living increases.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Monthly Benefit means the monthly amount payable by Liberty to you if you are Disabled or Partially Disabled.

  • Termination Benefit means the benefit set forth in Article 7.

  • Public benefit means making capital available, or facilitating the availability of capital, to businesses in this state that have 750 or fewer employees, the intent of which is to create or retain employment opportunities for residents of this state, stabilize or increase the tax base of this state, or support the redevelopment of facilities for use by small businesses.

  • Relevant Benefits means any pension, annuity, lump sum, gratuity or other like benefit given or to be given on retirement or death, or in anticipation of retirement.

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • Disability Benefit means the benefit set forth in Article 8.

  • Maximum Benefit means the maximum benefit amount of each of the benefits covered under this Policy as stated in the Schedule of Benefits.

  • Actuarial equivalent means a benefit of equal value when

  • Service benefit means the credit toward retirement benefits as determined by the

  • Net Benefits Test means a calculation to determine whether the benefits of a reduction in price resulting from the dispatch of Economic Load Response exceeds the cost to other loads resulting from the billing unit effects of the load reduction, as specified in Operating Agreement, Schedule 1, section 3.3A.4 and the parallel provisions of Tariff, Attachment K-Appendix, section 3.3A.4.

  • Pension Benefit means a pension, annuity, gratuity or similar allowance which is payable—

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • superannuation benefit means any payment, other than a refund of contributions, made to a dentist by virtue of the application of the (a) National Health Service Pension Scheme Regulations 1995; or (b) the National Health Service Superannuation Scheme (Scotland) Regulations 1995 or (c) the corresponding provisions of the law in force in Northern Ireland; as a result of his providing general dental services;

  • Regular benefits ’ means benefits payable to an individual under this act or under any other state law, including benefits payable to federal civilian employees and to ex-servicemen pursuant to 5 U.S.C. chapter 85, other than extended benefits.