Minimum Lifetime Mortgage Rate definition

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

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Minimum Lifetime Mortgage Rate. As to each Mortgage Loan that bears an adjustable rate of interest, the rate, if any, set forth in the related Mortgage Note and indicated on the Mortgage Loan Schedule, that is the minimum level to which a Mortgage Rate can adjust in accordance with its terms, regardless of the change in the applicable Index.

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index. MLML: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Lending, Inc., a Delaware corporation, or any successor in interest.

Examples of Minimum Lifetime Mortgage Rate in a sentence

• In connection with any such assumption, no material term of the related Mortgage Note (including, but not limited to, the Mortgage Rate, the amount of the Scheduled Payment, the Maximum Lifetime Mortgage Rate, the Minimum Lifetime Mortgage Rate, the Gross Margin, the Periodic Rate Cap, the Interest Adjustment Date, and any other term affecting the amount or timing of payment on the Mortgage Loan) may be changed.

• In connection with any such assumption, no material term of the Mortgage Note (including, but not limited to, the Mortgage Rate, the amount of the Scheduled Payment, the Maximum Lifetime Mortgage Rate, the Minimum Lifetime Mortgage Rate, the Gross Margin, the Periodic Rate Cap, the Interest Adjustment Date, and any other term affecting the amount or timing of payment on the Mortgage Loan) may be changed.

• In connection with any such assumption, no material term of the Mortgage Note (including, but not limited to, the Mortgage Rate, the amount of the Scheduled Payment, the Maximum Lifetime Mortgage Rate, the Minimum Lifetime Mortgage Rate, the Gross Margin, the Periodic Rate Cap, the Interest Adjustment Date and any other term affecting the amount or timing of payment on the Mortgage Loan) may be changed.

More Definitions of Minimum Lifetime Mortgage Rate

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index. MLCC: Merrill Lynch Cre▇▇▇ ▇▇▇p▇▇▇▇▇on and its successors in interest.

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index. MLBUSA: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Bank, USA. MLCC: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Credit Corporation. MLMCI: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Capital Inc. MLMLI: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Lending, Inc.

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index. Modified Net Rate Cap: For any Distribution Date and Loan Group I, the related Net Rate Cap modified by replacing the term "Coupon Strip Rate" with the term "Maximum Coupon Strip Rate" wherever it appears in the definition of "Net Rate Cap" with respect to Loan Group I.

Minimum Lifetime Mortgage Rate. The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index. MLCC: Merrill Lynch Credit C▇▇▇▇▇▇▇i▇▇.

Minimum Lifetime Mortgage Rate. With respect to any Group II Mortgage Loan, the minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.