Loan Purchase Detail definition

Loan Purchase Detail means a data tape or schedule of information prepared and transmitted electronically by Seller to Buyer in the format and with such fields of information set forth in Exhibit I regarding the Purchased Mortgage Loans, as such required format or information fields may be changed from time to time by Buyer with prior written notice to Seller.

Loan Purchase Detail. A loan purchase detail, transmitted via Electronic Transmission in the appropriate data layout set forth on Exhibit A-1, prepared by Seller, containing each data point set forth on Exhibit A or as may be requested by the Purchaser regarding the characteristics of all Mortgage Loans being offered for sale by Seller on a particular Business Day.

Loan Purchase Detail means a loan purchase detail, transmitted by facsimile in the form of Exhibit B (and as MBF may change said form from time to time) or transmitted electronically in an appropriate data layout, prepared by Seller, containing certain information regarding the characteristics of all Mortgage Loans being offered for sale by Seller to MBF on a particular Business Day.

Examples of Loan Purchase Detail in a sentence

• The Confirmation for each Transaction shall (i) include the Loan Purchase Detail with respect to the Mortgage Loans subject to such Transaction, (ii) identify Buyer and Seller and (iii) set forth (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction and (E) any additional terms or conditions of the Transaction mutually agreeable to Buyer and Seller.

• If the Mortgage Loan is indicated by Seller to be a second lien Mortgage Loan on the Loan Purchase Detail, the loan-to-value ratio of the first lien mortgage loan and the Mortgage Loan combined is not in excess of 100%.

• If the Mortgage Loan is indicated by Seller to be a first lien Mortgage Loan on the Loan Purchase Detail, the loan-to-value ratio of the Mortgage Loan is not in excess of 100%.

• Not later than one (1) Business Day after receipt of the Loan Purchase Detail, the Loan Sale Confirmation and a Wet Funding Documents Package, and subject to satisfaction or waiver of the conditions precedent stated in Sections 3.1 and 3.2, MBF shall complete the purchase of the Mortgage Loan by payment of the Acquisition Price for the Mortgage Loan, by transfer of immediately available funds into Seller’s loan closing escrow and the closing of that escrow in accordance with escrow instructions.

• If the Mortgage Loan is indicated by Seller to be a second lien Mortgage Loan on the Loan Purchase Detail, at the time of origination the Mortgagor had a score on the FICO scale of at least 600.

More Definitions of Loan Purchase Detail

Loan Purchase Detail a loan purchase detail, transmitted via facsimile in the form of EXHIBIT B, or transmitted electronically in an appropriate data layout, provided to Purchaser (and Custodian, if applicable) prepared by Seller, containing certain information regarding the characteristics of all Mortgage Loans being offered for sale by Seller on a particular Business Day.

Loan Purchase Detail means a schedule of information prepared and transmitted by Seller to Buyer in the format and in the manner specified by Buyer, and with the items of information set forth in Exhibit I regarding the Purchased Mortgage Loans, as such required format, manner of delivery or items of required information may be changed from time to time by Buyer with prior written notice to Seller. “Loan-to-Value Ratio” or “LTV” means, for each Mortgage Loan as of the related Purchase Date, a fraction (expressed as a percentage) having as its numerator the original principal amount of the Mortgage Note and as its denominator the lesser of (x) the sales price of the related Mortgaged Property and (y) the appraised value of the related Mortgaged Property indicated in the appraisal obtained in connection with the Origination of such Mortgage Loan. “Manufactured Home” means a single-family home constructed at a factory and shipped in one or more sections to a housing site. “Margin Amount” means at any time with respect to any Purchased Mortgage Loan, the amount equal to (a) the applicable Margin Percentage for that Purchased Mortgage Loan at that time multiplied by (b) the Market Value for that Purchased Mortgage Loan at that time. “Margin Deficit” is defined in Paragraph 4(a). “Margin Percentage” is defined in the Terms Annex. “Margin Stock” has the meaning assigned to that term in Regulation U of the Board of Governors of the Federal Reserve System as in effect from time to time. “Market Value” means, at any time with respect to any Purchased Mortgage Loan, the fair market value of such Purchased Mortgage Loan at such time as determined by Buyer in its sole discretion.

Loan Purchase Detail means an Asset Schedule.

Loan Purchase Detail shall have the meaning given to such term in the Note Purchase Agreement or the Loan Purchase Agreement, as applicable. With respect to the Loan Repurchase Agreement, “Loan Purchase Detail” shall mean a Conversion Loan Purchase Detail, Closing Loan Purchase Detail or Rewarehousing Loan Purchase Detail, as applicable.

Loan Purchase Detail means a Conversion Loan Purchase Detail, Closing Loan Purchase Detail or Rewarehousing Loan Purchase Detail, as applicable.

Loan Purchase Detail. Section 1 “Loan Sale Confirmation” Section 1 “Margin Stock” Section 1 “Market Value” Section 1 “Material Adverse Change” Section 1 “Maximum Takeout Commitment Expiration Date” Annex 1; Annex 3 “MERS” Section 1

Loan Purchase Detail. “Loan Sale Confirmation” Section 1 Section 1 Section 1 Section 1 Section 1