HECM Buyout definition

HECM Buyout means a FHA HECM which is subject to an Early Buyout as a result of the FHA HECM Principal Balance equaling or exceeding the GNMA HECM Repurchase Trigger or that was never pooled in a GNMA Security.
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HECM Buyout means a HECM Loan (a) for which the related HECM Loan Principal Balance equals or exceeds the Xxxxxx Xxx HECM Repurchase Trigger, (b) pursuant to which such HECM Loan is repurchased from a Xxxxxx Xxx securitization, and (c) which may or may not be assigned to FHA after repurchase from a Xxxxxx Xxx securitization. “HECM Loan” shall mean a home equity conversion Mortgage Loan which is secured by a first lien and is insured by FHA.
Sample 1
HECM Buyout means a HECM Loan (a) for which the related HECM Loan Principal Balance equals or exceeds the Xxxxxx Xxx HECM Repurchase Trigger, (b) pursuant to which such HECM Loan is repurchased from a Xxxxxx Xxx securitization, and (c) which may or may not be assigned to FHA after repurchase from a Xxxxxx Xxx securitization. “HECM Loan” shall mean a home equity conversion Mortgage Loan which is secured by a first lien and is insured by FHA. “HECM Loan Principal Balance” shall mean the principal balance of a HECM Loan (including without limitation any and all term, tenure or other monthly disbursements, accrued interest and mortgage insurance premium payments and other amounts capitalized into the principal balance) reduced by all amounts received or collected in respect of principal on such HECM Loan. “HomeSafe Flex” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) a portion of the Principal Limit is funded on the applicable closing date and the remaining amount is funded monthly in fixed amounts. “HomeSafe Second” shall mean, any Proprietary Loan that has each of the following characteristics: (a) it is secured by a second lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) the full amount of the Principal Limit is funded on the applicable closing date. “HomeSafe Select” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a variable rate of interest and (c) it is structured as a line of credit that can be drawn on for up to [*]. “HomeSafe Standard” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) the full amount of the Principal Limit is funded on the applicable closing date. “HUD” shall mean the Department of Housing and Urban Development. “Income” shall mean, with respect to any Mortgage LoanPurchased Asset at any time, any principal thereof then payable and all interest, dividends or other distributions payable thereon, and excluding, for the avoidance of doubt, any amounts permitted to be withheld by the Participation Paying Agent pursuant to the MPSA. “Indebtedness” shall mean, with respect ...
Sample 1

Examples of HECM Buyout in a sentence

  • To the extent HUD deducts from amounts otherwise due on account of a HECM Buyout subject to the Agreement, any amounts owing by Servicer to HUD, Seller shall give prompt written notice thereof to Administrative Agent and shall deposit, within one (1) Business Day following notice or knowledge of such deduction by HUD, such deducted amounts into the Inbound Account.

  • The duty of loyalty encompasses the duty to hold any property or profit derived by the partner in the conduct of business as a trustee for the partnership, not to deal with an interest adverse to the partnership, and not to compete with the partnership.

  • With respect to FHA HECMs or HECM Buyout, the Custodian fails to maintain its good standing under the GNMA Guide or FHA Regulations and is not replaced or Seller fails to repurchase all FHA HECMs and HECM Buyout within sixty (60) calendar days.

  • Seller has entered into Interest Rate Protection Agreements with respect to the FHA HECMs (other than in respect of HECM Buyout), having terms with respect to protection against fluctuations in interest rates consistent with its hedging policy.

  • Notwithstanding that certain Contributed REO Property is owned by the REO Subsidiary, the Seller, as Nominee, shall be listed as the mortgagee of record and shall deposit all claims submitted on account of HECM Buyout into the payee account (the “Clearing Account”) and shall transfer all such amounts so received into the Inbound Account as set forth below.

  • The Membership Certificate represents 100% of the beneficial ownership of the REO Subsidiary, and the REO Subsidiary continues to hold legal title to all REO Property related to foreclosures of HECM Buyout Loans that are subject to a Transaction.

  • With respect to HECM Buyout, the Custodian fails to maintain its good standing under the GNMA Guide or FHA Regulations and is not replaced or Seller fails to repurchase all HECM Buyouts within sixty (60) calendar days.

  • Xxxxxx shall transfer to the Seller an amount equal to $ [insert amount which represents the Purchase Price of the HECM Buyout Loans net of any related Structuring Fee, Transaction Fees or any other fees then due and payable by Seller to Xxxxxx pursuant to the Agreement].

  • The unpaid principal balance of the Eligible Mortgage Loans that are not FHA Buyout Loans or HECM Buyout Loans is $ Purchase Price to be paid by Barclays for such Eligible Mortgage Loans shall be and the[insert applicable Purchase Price].

  • Notwithstanding that certain Contributed REO Property is owned by an REO Subsidiary, the Seller, as Nominee, shall be listed as the mortgagee of record and shall deposit all claims submitted on account of HECM Buyout into the payee account (the “Clearing Account”) and shall transfer all such amounts so received into the Inbound Account as set forth below.

Related to HECM Buyout

  • Model 4 seller means a seller that is registered under the agreement and is not a model 1 seller, model 2 seller, or model 3 seller.

  • CASA means a court-appointed special advocate;

  • SORA means, in respect of any Singapore Business Day “i”, a reference rate equal to the daily Singapore Overnight Rate Average published by the Monetary Authority of Singapore (or a successor administrator), as the administrator of the benchmark, on the Monetary Authority of Singapore’s website currently at http://www.mas.gov.sg, or any successor website officially designated by the Monetary Authority of Singapore (or as published by its authorised distributors) (the “Relevant Screen Page”) on the Singapore Business Day immediately following such Singapore Business Day “i”;

  • CAFA means the Class Action Fairness Act of 2005, 28 U.S.C. §§ 1711-1715.

  • aeroplane means a power-driven heavier-than-air aircraft, deriving its lift in flight chiefly from aerodynamic reactions on surfaces which remain fixed under given conditions of flight;

  • Retail marijuana store means an entity licensed to purchase marijuana from marijuana cultivation facilities and marijuana and marijuana products from marijuana product manufacturing facilities and to sell marijuana and marijuana products to consumers.

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;

  • Stinger-steered automobile or watercraft transporter means an automobile or watercraft transporter

  • Bait means any salt, mineral, grain, or other feed. Salt or mineral blocks used for normal agricultural practices are not considered bait.

  • Retail Marijuana means all parts of the plant of the genus cannabis whether growing or not, the seeds thereof, the resin extracted from any part of the plant, and every compound, manufacture, salt, derivative, mixture, or preparation of the plant, its seeds, or its resin, including but not limited to Retail Marijuana Concentrate, that is cultivated, manufactured, distributed, or sold by a licensed Retail Marijuana Business. “Retail Marijuana” does not include industrial hemp, nor does it include fiber produced from stalks, oil, or cake made from the seeds of the plant, sterilized seed of the plant which is incapable of germination, or the weight of any other Ingredient combined with marijuana to prepare topical or oral administrations, food, drink, or other product. If the context requires, Retail Marijuana includes Retail Marijuana Concentrate and Retail Marijuana Product.

  • Short-rotation coppice means a specific management regime whereby the poles of trees are cut every one to two years and which is aimed at producing biomass for energy. It is exempt from the UK government timber procurement policy requirements and falls under agricultural regulation and supervision rather than forestry. The exemption only refers to short-rotation coppice, and not 'conventional' coppice which is forest management and therefore subject to the timber policy.

  • CMA means the Competition and Markets Authority or any successor body;

  • EUMA means the “SAP Delivered Support Agreement” which sets out the terms and conditions under which SAP provides support to End Users and which will be provided by SAP on a deal by deal basis.

  • ACMA means the Australian Communications and Media Authority.

  • Promotores means individuals who are members of the community who function as natural helpers to address some of their communities’ unmet mental health, health and human service needs. They are individuals who represent the ethnic, socio-economic and educational traits of the population he/she serves. Promotores are respected and recognized by their peers and have the pulse of the community’s needs.

  • CFPC means the College of Family Physicians of Canada.

  • SUD means a condition in which the use of one or more substances leads to a clinically significant impairment or distress per the DSM-5.

  • Locational UCAP Seller means a Member that sells Locational UCAP.

  • Model 1 seller means a seller registered under the agreement that has selected a certified service provider as the seller's agent to perform all of the seller's sales and use tax functions for agreement sales and use taxes other than the seller's obligation under Section 59-12-124 to remit a tax on the seller's own purchases.

  • SOFRi means the SOFR for:

  • Desjardins Investments means Desjardins Investments Inc. “DFSF” means Desjardins Financial Services Firm Inc. “DSFI” means Desjardins Financial Security Investments Inc. “DSI” means Desjardins Securities Inc.

  • Campfire means a small outdoor fire intended for recreation or cooking not including a fire intended for disposal of waste wood or refuse.

  • Plug-in Hybrid Electric Vehicle (PHEV) means a vehicle that is similar to a Hybrid but is equipped with a larger, more advanced battery that allows the vehicle to be plugged in and recharged in addition to refueling with gasoline. This larger battery allows the car to be driven on a combination of electric and gasoline fuels.

  • MSR means mortgage servicing rights (including master servicing rights and excess mortgage servicing rights) entitling the holder to service mortgage loans.

  • KIID means key investor information document;

  • Marijuana wholesaler means a person who purchases marijuana items in this state for resale to a person other than a consumer.