HECM Buyout Loan means an Eligible Mortgage Loan that (a) is insured by FHA and for which no insurance claim payments have been made by FHA, (b) is a Xxxxxx Xxx Mortgage Loan, (c) has been purchased out of a Xxxxxx Mae Security, (d) is a home equity conversion Mortgage Loan secured by a first lien, and (e) includes all payments made to or on behalf of the related borrower(s) under the related Mortgage Note.
HECM Buyout Loan means an Eligible Mortgage Loan that (a) is insured by FHA, (b) is a Ginnie Mae Mortgage Loan, (c) has been purchased out of a Ginnie Mae Security, (d) is a home equity conversion Mortgage Loan secured by a first lien, (e) comprises all payments made to the related borrower(s) under the related Mortgage Note and (f) is not a Modified Loan.
HECM Buyout Loan means an Eligible Mortgage Loan that (a) is insured by FHA and for which no insurance claim payments have been made by FHA, (b) is a Ginnie Mae Mortgage Loan, (c) has been purchased out of a Ginnie Mae Security, (d) is a home equity conversion Mortgage Loan secured by a first lien, and (e) includes all payments made to or on behalf of the related borrower(s) under the related Mortgage Note.