GNMA definition

GNMA means the Government National Mortgage Association.

GNMA. The Government National Mortgage Association, a wholly owned corporate instrumentality of the United States within HUD.

GNMA means the Government National Mortgage Association and any successor thereto.

Examples of GNMA in a sentence

• As of the Mortgage Purchase Date, the Mortgage Loan shall be current as to principal and interest payments due and there shall be no delinquent tax or delinquent assessment lien against the property financed by the Mortgage Loan unless permitted by the GNMA Guide, the Xxxxxxx Xxx Guide or the Xxxxxx Xxx Guide, as applicable.

• Loans The Mortgage Lender shall provide to the Trustee, the Servicer, GNMA, Xxxxxxx Xxx, Xxxxxx Xxx and the Authority and their respective employees, examiners and supervisory agents access to the documentation regarding the Mortgage Loans requested by them, such access being afforded without charge and during normal business hours at the offices of the Mortgage Lender designated by it or, if requested, by mail.

• After the issuance date of each Pool, the Servicer shall continue to service the Mortgage Loans and will be governed by the GNMA Guide and MBS Agreement, the Xxxxxxx Mac Guide or the Xxxxxx Xxx Guide, as applicable.

• This includes but is not limited to the collection and processing of all loan payments (including escrow payments for taxes and insurance) and the payment from the Escrow Account of taxes and insurance when due and the accounting therefore in accordance with GNMA, Xxxxxxx Xxx and Xxxxxx Xxx requirements.

• The Servicer has no obligation to Purchase Mortgage Loans unless such Mortgage Loans are eligible for inclusion in a GNMA Security, Xxxxxxx Xxx Security or a Xxxxxx Xxx Security; provided, however, that a Mortgage Loan shall not be considered ineligible for inclusion in a GNMA Security as a result of any failure by the Servicer to take such actions as are necessary to obtain GNMA Commitments pursuant to Section 3.01 of the Servicing Agreement.

More Definitions of GNMA

GNMA. Government National Mortgage Association or any successor thereto.

GNMA means the Government National Mortgage Association;

GNMA is hereby added to Article I to immediately follow the definition of "Xxxxxxx Mac":

GNMA means the Government National Mortgage Association, a wholly owned corporate instrumentality of the United States within HUD, and any successor to its functions. Its powers are prescribed generally by Title III of the National Housing Act, as amended (12 X.X.X., §0000 et. seq.).

GNMA means the Governmental National Mortgage Association, and includes any successor thereto.

GNMA means the Government National Mortgage Association, a wholly owned corporate instrumentality of the United States Department of Housing and Urban Development and any successor to its functions.

GNMA the Government National Mortgage Association. group: In a multiple-pool series, the classes related to a pool; in a single-pool series, all the classes. group target-rate class percentage: For one or more target-rate classes of a group, the ratio of the classes’ principal balance to the principal balance of all target-rate classes of the group, expressed as a percentage. For a single pool series, the group target-rate class percentage is the same as the target-rate class percentage. Guide: The CitiMortgage, Inc. Servicing Guide, being the manual relating to CitiMortgage’s mortgage loan purchase program, as revised or supplemented from time to time. high-cost mortgage loan: A “high cost loan,” “high-rate, high-fee mortgage,” “covered loan,” or similar loan under any predatory lending law, if the law contains provisions that may result in liability of the Trust Fund as a purchaser or assignee of the loan. holder: Has the same meaning as “certificate holder.” hypothetical mortgage loan: A non-existent mortgage loan that, combined with one or more other hypothetical mortgage loans, would have the same interest and principal payments as an actual mortgage loan. Example: A mortgage loan having a principal balance of $100,000 and a pass-through rate of 8% could be divided into two hypothetical mortgage loans, the first having a $100,000 principal balance and a pass-through rate of 7% per annum, and the second an IO loan having a $100,000 principal balance and a pass-through rate of 1% per annum. References to the hypothetical mortgage loans in the target-rate strip will include those actual mortgage loans whose pass-through rates equal the target rate. independent accountants : Accountants who are “independent” within the meaning of Rule 2-01(b) of the Securities and Exchange Commission’s Regulation S-X under the Exchange Act.