Minimum Monthly Payment definition

Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

Minimum Monthly Payment. For each Mortgage Loan, the scheduled payment of interest or principal and interest on a Mortgage Loan (which payment may be less than the amount of interest accrued on such Mortgage Loan due to the related Monthly Payment Adjustment Terms) (including any amounts due from a Buydown Fund, if any) which is due on the related Due Date for such Mortgage Loan.

Minimum Monthly Payment. With respect to any HELOC and any month, the minimum amount required to be paid by the related Mortgagor in such month. With respect to any HEL and any month, the scheduled monthly payment due on the related Due Date.

Examples of Minimum Monthly Payment in a sentence

• The Master Servicer, in its sole discretion, may advance the interest component of any delinquent Minimum Monthly Payment (or any portion of it) by depositing the amount into the Collection Account by the related Determination Date.

• As to each Mortgage Loan, the terms for adjusting the amount of the Minimum Monthly Payment on such Mortgage Loan, as set forth in the related Mortgage Note, including the dates on which or the circumstances under which such adjustments become effective and limitations on the amounts of such adjustments.

• Your statement also will identify the remaining Credit Line available and the Minimum Monthly Payment you must make for that billing period and the date it is due.

• Your statement also will identify the remaining credit limit available and the Minimum Monthly Payment you must make for that billing period and the date it is due.

• Payments due with respect to Eligible Substitute Loans in the month of substitution shall not be transferred to the Issuer and will be retained by the Master Servicer and remitted by the Master Servicer to the Seller on the next succeeding Payment Date provided a payment at least equal to the applicable Minimum Monthly Payment has been received by the Issuer for such month in respect of the Home Equity Loan to be removed.

More Definitions of Minimum Monthly Payment

Minimum Monthly Payment. With respect to any Option ARM Mortgage Loan, the minimum payment required to be paid by a Mortgagor pursuant to the payment options under the related Mortgage Note on each Due Date.

Minimum Monthly Payment. As to any Mortgage Loan and any month, the ----------------------- minimum amount required to be paid by the related Mortgagor pursuant to the related Loan Agreement.

Minimum Monthly Payment. With respect to any Home Equity Loan and any month, the minimum amount required to be paid by the related Mortgagor in such month.

Minimum Monthly Payment means, with respect to any Mortgage Loan and any month, the minimum amount required to be paid by the related Mortgagor in such month.

Minimum Monthly Payment. For any Mortgage Loan, the product of (x) the related Payment Limit and (y) the related Fully Amortizing Monthly Payment.

Minimum Monthly Payment. For each Mortgage Loan, the minimum Monthly Payment required to be paid by the Mortgagor pursuant to the terms of the related Mortgage Note.

Minimum Monthly Payment shall have the meaning as set forth in Clause 13.1.3; “Mis-declaration” shall have the meaning as set forth in Clause 11.5.5;