Loan Program Authority means, with respect to Government Mortgage Loans, the applicable Government Agency, and with respect to Jumbo Mortgage Loans, the applicable Take-out Investor (and if there is not a Take-out Investor, the Acquisition Guidelines).
Loan Program Authority means, with respect to Government Mortgage Loans, the applicable Government Agency, or with respect to Jumbo Mortgage Loans, the applicable Take-out Investor.
Loan Program Authority means, with respect to Conforming Mortgage Loans and Government Mortgage Loans, Fxxxxx Mae, Fxxxxxx Mac, FHA, VA, or the USDA, as applicable, and with respect to Jumbo Mortgage Loans and Specialized Mortgage Loans, the applicable Takeout Investor.
Examples of Loan Program Authority in a sentence
The Mortgage Loan File with respect to such Underlying Asset contains either a valuation or an appraisal of the related Mortgaged Property meeting the requirements set forth by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, unless such valuation or appraisal, as applicable, is not required by the applicable Loan Program Authority, or applicable regulatory or licensing body.
More Definitions of Loan Program Authority
Loan Program Authority means, with respect to Government Mortgage Loans, the applicable Government Agency, and with respect to Jumbo Mortgage Loans, the applicable Take-out Investor. “Location” shall mean, with respect to an eNote, the location of such eNote which is established by reference to the MERS eRegistry. “Manufactured Home” shall mean any dwelling unit built on a permanent chassis and attached to a permanent foundation system. “Margin Call” shall have the meaning assigned thereto in Section 7(a) hereof. “Margin Deficit” shall have the meaning assigned thereto in Section 7(a) hereof. “Margin Payment” shall have the meaning assigned thereto in Section 7(a) hereof. “Market Value” shall mean, as of any date of determination, for each Purchased Mortgage Loan, the whole-loan servicing released fair market value of such Purchased Mortgage Loan as determined by Buyer (or an Affiliate thereof) in its sole and good faith discretion (which determination may be performed on a daily basis, at Buyer’s discretion and may take into account such factors as Buyer deems appropriate). “Master Servicer Field” shall mean, with respect to an eNote, the field entitled, “Master Servicer” in the MERS eRegistry. “Material Adverse Effect” shall mean (a) a material adverse change in, or a material adverse effect upon, the Property, business, operations or condition of Seller (financial or otherwise), (b) a material impairment of the ability of Seller to perform its obligations under any of the Facility Documents to which it is a party and to avoid any Event of Default, (c) a material adverse effect upon the validity or enforceability of any of the Facility Documents, or (d) a material adverse effect upon the rights and remedies of Buyer under any of the Facility Documents; in each case as determined by Buyer in its reasonable discretion. 17
Loan Program Authority means, with respect to Government Mortgage Loans, the applicable Government Agency.
Loan Program Authority. With respect to Agency Eligible Mortgage Loans and Government Mortgage Loans, the applicable Agency, or with respect to Closed-End Second Lien Mortgage Loans, the applicable underwriting guidelines as approved by Buyer in its sole discretion.