Liquidated Home Equity Loan. As to any Payment Date, any Home Equity Loan in respect of which the Master Servicer has determined as of the end of the related Collection Period that all Liquidation Proceeds which it expects to recover on such Home Equity Loan have been recovered (exclusive of any possibility of a deficiency judgment).
Liquidated Home Equity Loan. With respect to any Payment Date, any Home Equity Loan in respect of which the Master Servicer has determined, in accordance with the servicing procedures specified in the Servicing Agreement, as of the end of the related Collection Period that substantially all Liquidation Proceeds which it reasonably expects to recover, if any, with respect to the disposition of the related Home Equity Loan have been recovered. The Master Servicer will treat any Home Equity Loan that is 180 days or more Delinquent as having been finally liquidated.
Liquidated Home Equity Loan. With respect to any Distribution Date, any Home Equity Loan in respect of which the Servicer has determined as of the end of the related Collection Period that all Liquidation Proceeds that it expects to recover on such Home Equity Loan have been recovered (exclusive of any possibility of a deficiency judgment but including any recoveries of Charge Off Amounts or accrued or imputed interest including, but not limited to, recoveries related to walks (i.e., instances where the Mortgagor has voluntarily vacated the Mortgaged Property) or short sales).
Examples of Liquidated Home Equity Loan in a sentence
For purposes hereof, a Foreclosed Home Equity Loan shall be deemed to have a Trust Balance equal to the Trust Balance of the related Home Equity Loan immediately prior to the foreclosure or comparable conversion, and a Liquidated Home Equity Loan shall be deemed to have a Trust Balance equal to the Trust Balance of the related Home Equity Loan immediately prior to the final recovery of the related Liquidation Proceeds.
More Definitions of Liquidated Home Equity Loan
Liquidated Home Equity Loan. With respect to any Payment Date, any Home Equity Loan in respect of which the Master Servicer has determined, in accordance with the servicing procedures specified in the Servicing Agreement, as of the end of the related Collection Period that substantially all Liquidation Proceeds which it reasonably expects to recover, if any, with respect to the disposition of the related Home Equity Loan have been recovered. The Master Servicer will treat any Home Equity Loan that is 180 days or more Delinquent as having been finally liquidated. Liquidation Expenses: Out-of-pocket expenses (exclusive of overhead) which are incurred by or on behalf of the Master Servicer in connection with the liquidation of any Home Equity Loan and not recovered under any insurance policy, such expenses including, without limitation, legal fees and expenses, any unreimbursed amount expended (including, without limitation, amounts advanced to correct defaults on any mortgage loan which is senior to such Home Equity Loan and amounts advanced to keep current or pay off a mortgage loan that is senior to such Home Equity Loan) respecting the related Home Equity Loan and any related and unreimbursed expenditures for real estate property taxes or for property restoration, preservation or insurance against casualty loss or damage.
Liquidated Home Equity Loan. As to any Distribution Date, any Home Equity Loan (other than a Defective Home Equity Loan that is purchased or substituted pursuant to Section 2.02 or 2.04) in respect of which the Master Servicer has determined as of the end of the calendar month preceding the month of such Distribution Date that all Liquidation Proceeds that it expects to recover have been recovered.
Liquidated Home Equity Loan means, as to any Distribution Date, any --------------------------- Home Equity Loan with respect to which the Servicer has determined, in accordance with the servicing procedures specified herein, as of the end of the related Due Period that all Liquidation Proceeds which it expects to recover with respect to the liquidation of the Home Equity Loan or disposition of the related REO Property have been recovered.
Liquidated Home Equity Loan. As to any Distribution Date, any Home --------------------------- Equity Loan in respect of which the Master Servicer has determined, in accordance with the servicing procedures specified herein, as of the end of the preceding Collection Period, that all Liquidation Proceeds which it expects to recover with respect to the liquidation of the Home Equity Loan have been recovered.
Liquidated Home Equity Loan. As to any Payment Date, a Home Equity Loan --------------------------- (not including any Home Equity Loan purchased by the Master Servicer or repurchased by the Seller) as to which the Master Servicer has determined as of the end of the immediately preceding Remittance Period that all amounts which it expects to recover from or on account of such Home Equity Loan have been paid Liquidation Expenses: As to any Liquidated Home Equity Loan, customary and -------------------- reasonable out-of-pocket expenses exclusive of overhead which are advanced, in accordance with the Servicing Standards, by the Master Servicer or any Subservicer in connection with the liquidation of or other efforts to recover amounts due thereon and not recovered under any insurance policy, such expenses including, without limitation, legal fees and expenses, any unreimbursed amount expended pursuant to Section 3.6 (including, without limitation, amounts advanced, in accordance with the Servicing Standards, to cure defaults on, keep current or pay off any mortgage loan which is senior to such Home Equity Loan) in respect of such Home Equity Loan and any related and unreimbursed expenditures for real estate property taxes, fire and hazard insurance policy premiums paid by the Master Servicer or for property restoration or preservation as are customary in the residential mortgage loan servicing industry.
Liquidated Home Equity Loan. Any Home Equity Loan with respect to which --------------------------- the related Mortgaged Property has been acquired, liquidated or foreclosed and with respect to which the Servicer determines that all Liquidation Proceeds which it expects to recover have been recovered. Liquidation Proceeds: Proceeds (including Insurance Proceeds but not -------------------- including amounts drawn under the Certificate Insurance Policy) received in connection with the liquidation of any Home Equity Loan or related REO Property, whether through trustee's sale, foreclosure sale or otherwise.
Liquidated Home Equity Loan. With respect to any Payment Date, any Home Equity Loan in respect of which the Servicer has determined, in accordance with the servicing procedures specified in the Servicing Agreement, as of the end of the related Collection Period that all Liquidation Proceeds which it reasonably expects to recover, if any, with respect to the disposition of the related REO have been recovered. Liquidation Expenses: Out-of-pocket expenses (exclusive of overhead) which are incurred by or on behalf of the Servicer in connection with the liquidation of any Home Equity Loan and not recovered under any insurance policy, such expenses including, without limitation, legal fees and expenses, any unreimbursed amount expended (including, without limitation, amounts advanced to correct defaults on any mortgage loan which is senior to such Home Equity Loan and amounts advanced to keep current or pay off a mortgage loan that is senior to such Home Equity Loan) respecting the related Home Equity Loan and any related and unreimbursed expenditures for real estate property taxes or for property restoration, preservation or insurance against casualty loss or damage.