HAMP Loan definition

HAMP Loan means any Loan the servicing of which is required to be governed by the guidelines of HAMP.
Sample 1

Examples of HAMP Loan in a sentence

  • With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury’s Home Affordable Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in accordance with the HAMP terms and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.

  • Seller shall continue to service any HAMP Loan in accordance with the terms and requirements of HAMP and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.

  • With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury's Home Affordable Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in accordance with the HAMP terms and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.

  • With regard to a Treasury Funded GSE HAMP Loan, if the servicer will not recapture the $5,000 pay for performance incentive in connection with the sixth anniversary of the borrower’s HAMP modification, a borrower notice is not required.

  • The HAMP Loan Modification Program Has Made Limited Progress to DateTreasury first announced HAMP in February 2009 and issued the firstimplementation guidelines in March 2009.

  • In addition, with respect to any Treasury Funded GSE HAMP Loan, servicers must maintain a copy of the date-stamped and executed Dodd-Frank Certification in the mortgage file and/or servicing system, and maintain reports of the receipt of the executed Dodd-Frank Certification, both of which must be provided to Treasury and its agents upon request.

  • Loren Berlin, HAMP Loan Program Expands, Too Little Too Late, HUFFINGTON POST (Jan.

  • Similarly, with respect to a Treasury Funded GSE HAMP Loan, if the servicer determines, in conjunction with a pending recapture by Treasury of the $5,000 pay for performance incentive from the servicer, that it will recapture the incentive from the borrower, the servicer must notify the borrower in writing of his or her ineligibility for the $5,000 pay for performance incentive in connection with the sixth anniversary of the borrower’s HAMP modification and the recapture.

  • With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury’s Home Affordable Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in accordance with the HAMP terms, and shall ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.

  • If the borrower is in a Treasury Funded GSE HAMP Loan, the servicer must designate the GSE HAMP Loan “Not Cleared” on the BE&C Portal and update the reporting in the HAMP Reporting Tool to reflect that a valid Dodd-Frank Certification was not received.

Related to HAMP Loan

  • PPP Loan means the loan in principal amount of $673,184 issued to the Company by the PPP Lender pursuant to the promissory note dated April 20, 2020.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • New Loan means a Loan made by the Failed Bank after the Bid Valuation Date that is not a continuation, amendment, modification, renewal, extension, refinancing, restructuring or refunding of or for any then-existing Loan.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • PACE Loan means (x) any “Property-Assessed Clean Energy loan” or (y) any other indebtedness, without regard to the name given to such indebtedness, which is (i) incurred for improvements to the Property for the purpose of increasing energy efficiency, increasing use of renewable energy sources, resource conservation, or a combination of the foregoing, and (ii) repaid through multi-year assessments against the Property.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Existing Loan means the loan identified on Exhibit H.

  • Loan means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (1) is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), (2) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment issued for the purchase of such Mortgage Loan, (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by Xxxxxx Xxx or Xxxxxxx Mac from time to time, and (4) is a First Lien Mortgage Loan.

  • Original Loan shall have the meaning set forth in the recitals hereto.