Institutional Mortgagee definition

Institutional Mortgagee means the mortgagee (or its assignee) of a mortgage against a parcel, which mortgagee is a bank, savings and loan association, mortgage company, insurance company, real estate or mortgage investment trust, pension or profit sharing trust, the Federal Housing Administration, the Veterans Administration, or any agency of the United States of America. The term also refers to any holder of a mortgage against a parcel which mortgage is guaranteed or insured by the Federal Housing Administration, the Veterans Administration, any agency of the United States of America, or by any other public or private corporation engaged in the business of guaranteeing or insuring residential mortgage loans, and their successors and assigns.

Institutional Mortgagee means an entity or an entity which is the subsidiary, parent,

Institutional Mortgagee means any bank, savings bank or affiliate thereof, investment bank, mortgage conduit, savings and loan association, trust company, credit union of which the borrower is a member, insurance company or governmental entity which is duly authorized to issue a loan secured by an interest in real estate or affiliate thereof, or pension fund, which is then currently extending similarly secured loan commitments.

Examples of Institutional Mortgagee in a sentence

• Each policy or binder issued by an insurer shall, to the extent obtainable, contain an agreement by the insurer that such policy shall not be canceled, non-renewed or substantially modified without at least thirty (30) days’ prior written notice to Landlord, Tenant and any Permitted Institutional Mortgagee (as defined in Section 12.3 below) named therein.

• If Seller elects to exercise its rights to repurchase, any “Institutional Mortgagee” (as hereinafter defined) shall be entitled to receive notice of such election if the Institutional Mortgagee has given written notice (in accordance with Paragraph 5 hereof) to Seller of (a) a copy of the mortgage; and (b) its name and address.

• Any such election shall be exercised by such Institutional Mortgagee giving written notice thereof to Seller whereupon the Institutional Mortgagee shall execute promptly formal assumption documents, in such form and content as Seller may reasonably require.

• Where the consent of the Permitted Institutional Mortgagee and/or any Investor is required hereunder, the failure of any Permitted Institutional Mortgagee or any Investor to object in writing within sixty (60) days after the notice of such amendment is given by Landlord in compliance with Section 19.2 shall be deemed approval of the proposed amendment.

• When a Mortgagee exercises its foreclosure rights provided in its Mortgage and acquires title to or sells to a third party its interest in any Lot or dwelling, then such Institutional Mortgagee was recorded in the Probate Office of St. Clair County, Alabama prior to the filing of claim of lien by the Association pursuant to Section 8.09(c) above.

More Definitions of Institutional Mortgagee

Institutional Mortgagee means a bank, savings and loan association, insurance company, real estate or mortgage investment trust, pension fund, an agency of the United States Government, mortgage banker or any other lender generally recognized as an institutional type lender holding a first mortgage on a Unit or Units.

Institutional Mortgagee means any lending institution having a first lien on any property subject to this Declaration, including any of the following institutions: an insurance company or subsidiary thereof, a federal or state savings and loan association, a federal or state building and loan association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, a federal or state banking association, the Palm Beach County Housing Authority or similar entity, a real estate investment trust, or any mortgage banking company authorized to do business in the State of Florida.

Institutional Mortgagee means a Mortgagee which is a bank, or savings and loan association or established mortgage company, or other entity charted under federal or state laws, any insurance company, any federal or state agency, or any other institution specified by the Board.

Institutional Mortgagee means the mortgagee or assignee of a first mortgage against a

Institutional Mortgagee means any lending institution having a mortgage lien upon a Unit, including any of the following institutions or entities: (i) a federal or state savings and loan association or bank doing business in the State of Florida or a life insurance company doing business in Florida which is approved by the Commissioner of Insurance of the State of Florida, or bank or real estate investment trust, or a mortgage banking company licensed to do business in the State of Florida, or any subsidiary thereof licensed or qualified to make mortgage loans in the State of Florida or a national banking association chartered under the laws of the United States of America; or (ii) such other Lenders as the Board shall hereafter designate as such in writing which have acquired a mortgage upon a Unit; or (iii) any “Secondary Mortgage Market Institution” including Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation and such other Secondary Mortgage Market Institution as the Board shall hereafter designate as such in writing which has acquired a mortgage upon Units.

Institutional Mortgagee means any of the following institutions means any of the following institutions that have net assets equal to or greater than $500,000,000.00, are in the business of making commercial mortgage loans secured by properties of like type, size and value as the Premises and Improvements, and have a long term credit rating which is not less than investment grade: bank, savings and loan association, savings institution, trust company or national banking association, acting for its own account or in a fiduciary capacity; charitable foundation; insurance company or pension and/or annuity company, fraternal benefit society; pension, retirement or profit sharing trust or fund within the meaning of Title I of ERISA or for which any bank, trust company, national banking association or investment adviser registered under the Investment Advisers Act of 1940, as amended, is acting as trustee or agent; any investment company or business development company, as defined in the Investment Company Act of 1940, as amended; small business investment company licensed under the Small Business Investment Act of 1958, as amended; broker or dealer registered under the Securities and Exchange Act of 1934, or investment adviser registered under the Investment Adviser Act of 1940, as amended; government or public employees' pension or retirement system, or other government agency supervising the investment of public funds; mortgage conduit that is in the business of originating loans for securitization in the capital markets; or other entity all of the equity owners of which are Institutional Mortgagees.

Institutional Mortgagee means and refer to any bank, bank holding company, trust company or subsidiary thereof, savings and loan association, insurance company, union pension fund, mortgage company approved by Declarant, an agency of the United States Government, or Declarant, which holds a first mortgage of public record on any Parcel and the holder of any mortgage of public record given or assumed by Declarant, whether a first mortgage or otherwise, and their successors and assigns.