Level D Exception definition

Level D Exception means, with respect to any Purchased Mortgage Loan, finding in a Diligence Report that (i) the loan file was not delivered to the Diligence Provider, (ii) the loan file is not sufficiently complete to perform the review or (iii) if the Purchased Mortgage Loan is not eligible for sale to Xxxxxx Xxx or Freddie Mac or to be insured by FHA or VA, including, but not limited to, as a result of a discrepancy between the AUS number, or, if an AUS number is not available, the Agency case number, on the asset tape and such number appearing in the credit file.
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Level D Exception means, with respect to any Purchased Mortgage Loan, a finding in a Diligence Report (which is based on the data, files and information received by the Diligence Provider pursuant to the Indenture), that (i) the loan file was not delivered to the Diligence Provider, (ii) the loan file is not sufficiently complete to perform the review or (iii) if the Purchased Mortgage Loan is not eligible for sale to Fannxx Xxx xx Fredxxx Xxx, or to be insured by FHA or VA, including, but not limited to, as a result of a discrepancy between the AUS number, or, if an AUS number is not available, the Agency case number, on the Asset Tape and such number appearing in the credit file.
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Level D Exception means, with respect to any Purchased Mortgage Loan, finding in a Diligence Report that (i) the loan file was not delivered to the Diligence Provider, (ii) the loan file is not sufficiently complete to perform the review or (iii) if the Purchased Mortgage Loan is not eligible for sale to Fannie Mae or Freddie Mac or to be insured by FHA or VA, including, but not limited to, as a result of a discrepancy between the AUS number, or, if an AUS number is not available, the Agency case number, on the asset tape and such number appearing in the credit file.
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Examples of Level D Exception in a sentence

  • A violation of TRID found by the Diligence Provider that constitutes a Level C Exception or a Level D Exception will not be included in the calculations set forth in the preceding sentence.

  • In the event any Level C Exception or Level D Exception is identified in an Initial Diligence Report, the Seller will have sixty (60) days to cure (or clear) such Level C Exceptions or Level D Exceptions with the Diligence Provider.


More Definitions of Level D Exception

Level D Exception means[***].
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Level D Exception means, with respect to any Mortgage Loan, a finding in a diligence report of a Third Party Reviewer that (i) the Asset File was not delivered to the Third Party Reviewer, (ii) the Asset File is not sufficiently complete to perform the review or (iii) the Mortgage Loan is not eligible for sale to Xxxxxx Xxx or Xxxxxxx Mac or to be insured by FHA or VA, including, but not limited to, as a result of a discrepancy between the AUS Number, or, if an AUS Number is not available, the Agency case number, on the asset tape and such number appearing in the credit file.
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Related to Level D Exception

  • Permitted Exception means (a) liens for Taxes and other governmental charges and assessments which are not yet due and payable, (b) liens of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like liens arising in the ordinary course of business for sums not yet due and payable, (c) other liens or imperfections on property which are not material in amount or do not materially detract from the value or the existing use of the property affected by such lien or imperfection, (d) such statements of fact and exceptions shown on any title insurance policies delivered to Global.

  • Permitted Exceptions shall have the meaning set forth in Section 4.3.

  • Title Objection shall have the meaning assigned thereto in Section 8.5.

  • Toll Billing Exception Service (TBE means a service that allows End Users to restrict third number billing or collect calls to their lines.

  • Performance-Based Exception means the performance-based exception from the tax deductibility limitations of Code Section 162(m).

  • Property Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion.

  • Toll Billing Exception Service (TBE) means a service that allows End Users to restrict third number billing or collect calls to their lines.

  • Title Objections has the meaning ascribed to such term in Section 6.2(a).

  • Existing Survey means the existing ALTA survey of the Property.

  • Exception Report The report of the Trustee referred to in Section 2.02.

  • Nonconforming zoning condition means a physical improvement on a property that does not conform with current zoning standards.

  • Record of survey map means a map of a survey of land prepared in accordance with Section 10-9a-603, 17-23-17, 17-27a-603, or 57-8-13.

  • Title Defect as used herein shall mean any encumbrance, encroachment, irregularity, defect in or objection to Seller’s title to the Leases and Xxxxx (excluding Permitted Encumbrances) which would result in Seller not having Defensible Title.

  • Equitable Exceptions means, with respect to the enforceability of any obligation, that such obligation is subject to (a) applicable bankruptcy, insolvency, moratorium, receivership, assignment for the benefit of creditors or other similar state or federal laws affecting the rights and remedies of creditors generally (including, without limitation, fraudulent conveyance or transfer laws) and judicially developed doctrines in this area, such as equitable subordination and substantive consolidation of entities and (b) equitable principles (whether considered in a proceeding in equity or at law).

  • Survey Area means the area of land or waters the subject of a Survey, or proposed to be the subject of a Survey.

  • Property Notice means any order, notice, proposal, demand or other requirement issued by any competent authority (including the Landlord) which materially affects the Academy Trust’s ability to use the Land for the purposes of the Academy.

  • Title Defect Notice shall have the meaning set forth in Section 11.2(a).

  • Title Defects has the meaning set forth in Section 5.15(b).

  • Title Report has the meaning set forth in Section 5.4(b).

  • Title Defect Amount means, with respect to a Title Defect Property, the amount by which such Title Defect Property is impaired as a result of the existence of one or more Title Defects, which amount shall be determined as follows:

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Environmental Defect Notice shall have the meaning set forth in Section 12.1(a).

  • Title Defect Property has the meaning set forth in Section 6.2(a).

  • Environmental Condition means any condition or circumstance, including the presence of Hazardous Substances which does or would (i) require assessment, investigation, abatement, correction, removal or remediation under any Environmental Law, (ii) give rise to any civil or criminal Liability under any Environmental Law, (iii) create or constitute a public or private nuisance or (iv) constitute a violation of or non-compliance with any Environmental Law.

  • Blanket encumbrance means a trust deed or mortgage or any other lien or encumbrance,

  • Zoning map means a map, adopted as part of a land use ordinance, that