Home Equity Loans means loans or funded portions of lines of credit secured by mortgages on one-to four-family residences or stock of cooperative housing associations, where the Failed Bank did not have a first lien on the same property as collateral.
Home Equity Loans. Such of the home equity loans transferred and assigned to the Trust pursuant to Section 3.05(a) hereof, together with any Qualified Replacement Mortgages substituted therefor in accordance with this Agreement, as from time to time are held as a part of the Trust Estate, the Home Equity Loans originally so held being identified in the Schedules of Home Equity Loans. The term "Home Equity Loan" includes the terms "First Mortgage Loan" and "Second Mortgage Loan". The term "Home Equity Loan" includes any Home Equity Loan which is Delinquent, which relates to a foreclosure or which relates to a Property which is REO Property prior to such Property's disposition by the Trust. Any home equity loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Depositor, in fact was not transferred and assigned to the Trust for any reason whatsoever, including, without limitation, the incorrectness of the statement set forth in Section 3.04(b)(x) hereof with respect to such home equity loan, shall nevertheless be considered a "Home Equity Loan" for all purposes of this Agreement.
Home Equity Loans. The Conduit Home Equity Loans and/or the Seller Home Equity Loans, as applicable, together with any Qualified Replacement Mortgages substituted therefor in accordance with this Agreement, as from time to time are held as a part of the Trust Estate. Where applicable, the term “Home Equity Loan” includes (i) the terms “First Mortgage Loan” and “Second Mortgage Loan”, and (ii) any Home Equity Loan which is Delinquent, relates to a foreclosure or relates to a Property which is REO Property prior to such REO Property’s disposition by the Trust. Any home equity loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Depositor, in fact was not transferred and assigned to the Trust for any reason whatsoever, including, without limitation, the incorrectness of the statement set forth in Section 3.04(b)(x) hereof with respect to such home equity loan, shall nevertheless be considered a “Home Equity Loan” for all purposes of this Agreement.
Examples of Home Equity Loans in a sentence
Losses on Home Equity Loans shall be shared under the charge-off policies of the Assuming Bank’s Examination Criteria as if they were Single Family Shared-Loss Loans with respect to the calculation of the Stated Threshold.
More Definitions of Home Equity Loans
Home Equity Loans has the meaning set forth in the first WHEREAS clause in the Recitals hereof.
Home Equity Loans means those home equity loans listed on Schedule 2 hereto.
Home Equity Loans. Such home equity loans (including Initial Home Equity Loans and Subsequent Home Equity Loans) transferred and assigned to the Trust pursuant to the second paragraph under the caption "CONVEYANCE", which appears after the whereas clauses in this Agreement, hereof, together with any Qualified Replacement Mortgages substituted therefor in accordance with this Agreement, as from time to time are held as a part of the Trust Estate, the Home Equity Loans originally so held being identified in the Schedules of Home Equity Loans. The term "Home Equity Loan" includes the terms "First Mortgage Loan" and "Second Mortgage Loan". The term "Home Equity Loan" includes any Home Equity Loan which is Delinquent, which relates to a foreclosure or which relates to a Property which is REO Property prior to such REO Property's disposition by the Trust. Any home equity loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Depositor, in fact was not transferred and assigned to the Trust for any reason whatsoever, including, without limitation, the incorrectness of the statement set forth in Section 3.04(b)(x) hereof with respect to such home equity loan, shall nevertheless be considered a "Home Equity Loan" for all purposes of this Agreement.
Home Equity Loans shall refer to the mortgage loans secured by first or second liens on single family residential real property (including, without limitation, condominiums and planned unit developments) certain documents relating to which have been delivered to the Custodian pursuant to the Custodial Agreement.
Home Equity Loans. Such of the home equity loans the Trust Balances of which have been sold and assigned to the Trustee pursuant to Section 2.01 as from time to time are held as a part of the Trust Fund, the Home Equity Loans originally so held being identified in the Home Equity Loan Schedule. When used in respect of any Distribution Date, the term Home Equity Loans shall mean all Home Equity Loans (including those in respect of which the Trust Fund has acquired the related Mortgaged Property) that (a) have not been prepaid in full prior to the related Collection Period, (b) did not become Liquidated Home Equity Loans prior to such related Collection Period and (c) were not repurchased by the Master Servicer prior to such related Collection Period.
Home Equity Loans. The Trust is comprised primarily of three pools of mortgage loans. The first pool of loans ("Pool 1 Loans") will back the Class A-1 Notes, in that payments on the Pool 1 Loans will generally be used to make payments on the Class A-1 Notes. Similarly, the second pool of loans ("Pool 2 Loans") will back the Class A-2 Notes and the third pool of loans ("Pool 3 Loans") will back the Class A-3
Home Equity Loans will have an original Loan Balance of less than $____; (viii) such Subsequent Home Equity Loans will have a weighted average Coupon Rate of at least ____%; (ix) such Subsequent Home Equity Loans will have a weighted average original Loan-to-Value Ratio of not more than ___%; (x) at least ____% of such Subsequent Home Equity Loans shall be six-month adjustable rate loans; (xi) such Subsequent Home Equity Loans will have a weighted gross average margin of no less than ___%; and (xii) none of such Subsequent Home Equity Loans shall be balloon loans. In addition, the Subsequent Home Equity Loans with respect to the Adjustable Rate Group and the final pool of Home Equity Loans in the Adjustable Rate Group shall conform to the requirements in the Insurance Agreement.