Loan Modifications definition

Loan Modifications means an agreement tochange existing loan terms in response to a borrower's long-term inability to repay the loan. Loan modifications typically involve a trial payment plan followed by a reduction of the interest rate, an extension of the length of the loan, a change in the type of loan, e.g. adjustable rate to fixed rate, or any combination.
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Loan Modifications. Unless advance written approval is provided by, or obtained from, the Company, the Insured may not make any change in the terms of a Loan, including the borrowed amount, interest rate, term or amortization schedule of the Loan, except as permitted by terms of the Loan; nor make any change in the Property or other collateral securing the Loan; nor release the Borrower from liability on a Loan; nor subordinate the Second Deed of Trust.
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Examples of Loan Modifications in a sentence

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Integer 36 999 Modified Loans Only >= 0 to <= 120 155 Forgiven Principal Amount The sum total of all principal balance reductions (as a result of loan modification) over the life of the loan.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 156 Forgiven Interest Amount The sum total of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.35 9.999999 Modified Loans Only >= 0 and >= 1 146 Modification Effective Payment Date Date of first payment due post modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.35 9.999999 Modified Loans Only >= 0 and >= 1 145 Updated DTI (Back-end) Updated back-end DTI ratio (total monthly debt expense divided by total monthly income) used to qualify the loan modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Date 20090914 YYYYMMDD Modified Loans Only “19010101” if unknown 147 Total Capitalized Amount Amount added to the principal balance of a loan due to the modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 2310.57 9(10).99 Modified Loans Only > 0 151 Pre-Modification Initial Interest Rate Change Downward Cap Maximum amount the rate can adjust downward on the first interest rate adjustment date (prior to modification) – Only provide if the rate floor is modified.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 149 Pre-Modification Interest (Note) Rate Scheduled Interest Rate Of The Loan Immediately Preceding The Modification Effective Payment Date.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.015 9.999999 Modified Loans Only >= 0 to <= 1 152 Pre-Modification Subsequent Interest Rate Cap Maximum increment the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.075 9.999999 Modified Loans Only >= 0 to <= 1 150 Pre-Modification P&I Payment Scheduled Total Principal And Interest Payment Amount Preceding The Modification Effective Payment Date – or if servicer is no longer advancing P&I, the payment that would be in effect if the loan were current.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.015 9.999999 Modified Loans Only >= 0 to <= 1 153 Pre-Modification Next Interest Rate Change Date Next Interest Reset Date Under The Original Terms Of The Loan (one month prior to new payment due date).

Related to Loan Modifications

  • Loan Modification Agreement means a Loan Modification Agreement, in form reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.24.

  • Loan Modification Offer has the meaning specified in Section 2.24(a).

  • CREFC® Loan Modification Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Modification Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • Minor modification means a modification that does not significantly alter the nongovernmental function or purpose of the software or is of the type customarily provided in the commercial marketplace.

  • Permitted Modifications As defined in Section 2.02(a) of the Servicing Agreement.

  • Major modification means any physical change in or change in the method of operation of a major stationary source that would result in a significant emissions increase of a regulated NSR pollutant and a significant net emissions increase of that pollutant from the major stationary source.

  • Permit modification means a revision to a Title V operating permit that cannot be accomplished under the provisions for administrative permit amendments found at rule 567—22.111(455B). A permit modification for purposes of the acid rain portion of the permit shall be governed by the regulations pertaining to acid rain found at rules 567—22.120(455B) to 567—22.147(455B). This definition of “permit modification” shall be used solely for purposes of this chapter governing Title V operating permits.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Refinancing Loans means any Refinancing Term Loans or Refinancing Revolving Loans.

  • Facility Agreements means the agreements of that name between the Issuer and different

  • Local Facility Agreements means any agreement under which a Local Facility is made available.

  • Contract Modification means any changes in the terms or provisions of the Contract which are reduced to writing and fully executed by both parties.

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • CREFC® Assumption Modification Posting Instructions Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Assumption Modification Posting Instructions Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Loan Application is defined in Section 5.16(a).

  • Permitted Modification shall have the meaning ascribed thereto in Section 4.02.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Existing Loans has the meaning specified in Section 2.19(a).

  • Mortgage Amendments as defined in Section 6.11(a).

  • Refinancing Loan has the meaning specified in Section 2.15(b).

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Term Loan Commitments of any Series or Incremental Revolving Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.20.

  • CREFC® Modification Posting Instructions Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Modification Posting Instructions Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Investment Strategy Modification means with respect to an Investment Strategy, the Portfolio Administrator makes operational adjustments to the Investment Strategy to ensure that, so far as possible, the basic principles and economic effect of the Investment Strategy are maintained or any material modification to the Investment Strategy or its implementation by the Portfolio Administrator.