Modification Program definition
Examples of Modification Program in a sentence
For the avoidance of doubt, the Assuming Institution may propose exceptions to Exhibit 5 (the FDIC Loan Modification Program) for a group of Loans with similar characteristics, with the objectives of (1) minimizing the loss to the Assuming Institution and the FDIC and (2) maximizing the opportunity for qualified homeowners to remain in their homes with affordable mortgage payments.
For the avoidance of doubt, the Assuming Bank may propose exceptions to Exhibit 5 (the FDIC Loan Modification Program) for a group of Loans with similar characteristics, with the objectives of (1) minimizing the loss to the Assuming Bank and the FDIC and (2) maximizing the opportunity for qualified homeowners to remain in their homes with affordable mortgage payments.
With respect to any Mortgage Loans that have been modified or that are or will be in a modification trial period as part of the U.S. Department of the Treasury’s Home Affordable Modification Program (“HAMP”) (such Mortgage Loans, the “HAMP Loans”), Seller represents and warrants that it will continue to service such HAMP Loan in accordance with the HAMP terms and will ensure the timely compliance and filing of any appropriate HAMP documentation with the applicable regulator.
For each Single Family Shared-Loss Loan in default or for which a default is reasonably foreseeable, the Assuming Bank shall undertake reasonable and customary loss mitigation efforts, in accordance with Exhibit 5, FDIC Mortgage Loan Modification Program.
X Older Adult Home Modification Program Grants to make safety and functional home modification repairs of low-income elderly homeowners.
On any tanks installed through the OGS Tank Modification Program, a 2 inch dry disconnect female fitting shall be required for the Contractor to connect to the fill port.
Any Mitigation Trust Payments made pursuant to Appendix B (Vehicle Recall and Emissions Modification Program) or any Consent Decree provisions related thereto shall be allocated among all Beneficiaries, weighted in accordance with the Final Allocation Rates.
Any Mitigation Trust Payments made pursuant to Appendix B (Vehicle Recall and Emissions Modification Program) of the First Partial Consent Decree or Appendix B (Vehicle Recall and Emissions Modification Program for 3.0 Liter Subject Vehicles) of the Second Partial Consent Decree or any Consent Decree provisions related thereto shall be allocated in accordance with Appendix D-1B as follows: 1.86% to the Tribal Allocation Subaccount and 0.17% to the Tribal Administration Cost Subaccount.
Programs It is expected that certain MRF Trial Modification Program (TMP) ineligible loans (those with inadequate income to support the required minimum mortgage loan amount) will be eligible for IHDA’s standard HHF program and will be referred to IHDA to submit an application and have eligibility determined.
The Permanent Loan Modification Program (PLMP) will provide a principal reduction with the added option of a rate decrease and/or term extension by the lender to achieve a monthly payment that does not exceed 31% of gross monthly household income.