Foreclosure Advance Receivable definition

Foreclosure Advance Receivable on a date of determination, a valid, readily enforceable claim of the Seller to retain amounts received or to be received from an obligor, or out of the foreclosure proceeds, under a Mortgage Loan serviced by the Seller to reimburse the Seller for a Foreclosure Advance.
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Foreclosure Advance Receivable on a date of determination, a ------------------------------ valid, readily enforceable claim of the Company to retain amounts received or to be received from an obligor, or out of the foreclosure proceeds, under a Mortgage Loan serviced by the Company to reimburse the Company for a Foreclosure Advance.
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Foreclosure Advance Receivable means an amount receivable by any of the Borrowers with respect to payments owed by FHA, VA, or the applicable investor or out of the first proceeds of foreclosure, as the case may be, as reimbursement for advances made by any of the Borrowers pursuant to Servicing Contracts or Sub-Servicing Contracts, which advances were made to repurchase or foreclose an FHA-insured or VA-guaranteed first priority Mortgage Loan or a first priority conventional Mortgage Loan out of a pool of Mortgage Loans underlying GNMA, FNMA, or FHLMC Mortgage-Backed Securities or conventional Mortgage-Backed Securities.
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More Definitions of Foreclosure Advance Receivable

Foreclosure Advance Receivable means, on any date, the aggregate amount receivable by the Company from the FHA, the VA, or the applicable investor or out of the first proceeds of foreclosure, as the case may be, as of such date as reimbursement of Foreclosure Advances.
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Foreclosure Advance Receivable means as of any date of determination, a valid, readily enforceable claim of the Borrower to retain amounts received or to be received from an obligor, or out of the foreclosure proceeds, under a Mortgage Loan serviced by the Borrower to reimburse the Borrower for a Foreclosure Advance.
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Related to Foreclosure Advance Receivable

  • Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Interest Receivable means, in respect of the relevant Measurement Period ending on any Measurement Date, all interest received by or accrued to the Issuer during such period, including any amounts received by the Issuer in terms of any Treasury Transaction (as such relates to the hedging by the Issuer of its interest rate risk) (other than interest which is not received or receivable in funds that are freely remittable to South Africa), all as reflected in, and/or ascertained from, the Financial Statements for that Measurement Period;

  • Sale and Servicing Agreement Collateral shall have the meaning set forth in Section 2.4.

  • 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.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Purchased Loan A motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by CAC or a subsidiary from such Dealer and evidenced by a motor vehicle retail installment sales contract.

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

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

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Warranty Receivable means a Receivable which the Seller is required to repurchase pursuant to Section 3.02.

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

  • Eligible Mortgage Loan means a Mortgage Loan:

  • Mortgage Loan Sale Agreement The mortgage loan sale and assignment agreement dated as of November 1, 2003, for the sale of the Mortgage Loans by the Seller to the Depositor.

  • Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • 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.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Loan originator The entity that closes a Mortgage Loan in its own name.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.