Mortgage Assets definition

Mortgage Assets. The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

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Mortgage Assets means mortgage loan investments and other mortgage assets

Mortgage Assets means obligations secured by real property, as well as other assets eligible to be held by REITs, such as cash, cash equivalents and securities, including shares or interests in other REITs.

Examples of Mortgage Assets in a sentence

After the date hereof, Seller shall not take any action inconsistent with the Purchaser having assumed such risk and reward of ownership of the Mortgage Assets (or the ownership of any Mortgage Asset by any subsequent assignee).
The Seller shall execute and deliver to the Purchaser such instruments of further assurance and take such other action (as reasonably requested by the Purchaser) as is required from time to time in order to evidence the transfer, sale and conveyance of the Mortgage Assets made on the Settlement Date, including the preparation and execution of participation agreements, where applicable.
The Borrower shall not permit a change in special servicer for any of Mortgage Assets from an affiliate of ORECLument Investment Management, LLC to an unaffiliated entity without written approval by the Required Lender(s) at their sole discretion within ninety (90) days of the change occurring.
The Borrower shall not permit a change in the primary servicer for any of Mortgage Assets which has a rating lower than “CMS3” by Fitch Ratings or which causes the securities in the related Securitization Transaction to be downgraded, unless otherwise approved by the Required Lender(s) at their sole discretion within ninety (90) days of the change occurring.
Seller shall cause its financial and accounting records to clearly reflect that, from and after the date hereof, the Purchaser has assumed the substantive risks and rewards of ownership of the Mortgage Assets (including, as set forth in Section 1 regarding risk of loss).

More Definitions of Mortgage Assets

Mortgage Assets of any Person means assets of such Person consisting of mortgages, mortgage loans, mortgage-related securities, participation certificates, mortgage-backed commercial paper, obligations of real estate mortgage investment conduits and similar assets, in each case to the ex- tent such assets would appear on the balance sheet of such Person in accordance with GAAP as in effect as of the date hereof (and, for the avoidance of doubt, without giving effect to any change that may be made hereafter in respect of Statement of Financial Accounting Standards No. 140 or any similar accounting standard).

Mortgage Assets of any Person means assets of such Person consisting of mortgages, mortgage loans, mortgage-related securities, participation certificates, mortgage-backed commercial paper, obligations of real estate mortgage investment conduits and similar assets, in each case to the extent such assets would appear on the balance sheet of such Person in accordance with GAAP as in effect as of the date hereof (and, for the avoidance of doubt, without giving effect to any change that may be made hereafter in respect of Statement of Financial Accounting Standards No. 140 or any similar accounting standard).

Mortgage Assets means (i) the Purchased Mortgage Loans with respect to all Transactions hereunder (including, without limitation, all Servicing Rights with respect thereto), (ii) all Servicing Records, Loan Files, Mortgage Loan Documents, including, without limitation, the Mortgage Note and Mortgage, and all of Seller’s claims, liens, rights, title and interests in and to the Mortgaged Property related to such Purchased Mortgage Loans, (iii) all Liens securing repayment of such Purchased Mortgage Loans, (iv) all Income with respect to such Purchased Mortgage Loans, (v) the Accounts, (vi) the Takeout Commitments and Takeout Agreements to the extent Seller’s rights thereunder relate to the Purchased Mortgage Loans, (vii) all Hedging Arrangements relating to the Purchased Mortgage Loans, (viii) the Income Account (together with all interest on the Income Account, all modifications, extensions and increases of the Income Account, and all sums now or at any time hereafter on deposit in the Income Account or represented by the Income Account), and (ix) all proceeds of the foregoing. Seller hereby authorizes Buyer to file such financing statements relating to the Mortgage Assets as Buyer may deem appropriate, and irrevocably appoints Buyer as Seller’s attorney-in-fact to take such other actions as Buyer reasonably deems necessary or appropriate to perfect and continue the Lien granted hereby and to protect, preserve and realize upon the Mortgage Assets. Seller shall pay all out-of-pocket fees and expenses reasonably incurred by Seller in connection with perfecting such Liens including, without limitation, the cost of filing financing statements and amendments under the UCC, registering each Purchased Mortgage Loan with MERS and recording assignments of the Mortgages as and when required by Buyer in its sole discretion.

Mortgage Assets means, collectively:

Mortgage Assets is defined in Section 6(a).

Mortgage Assets means the following assets types of the REIT which the REIT may determine from time to time shall be solely managed by the Manager: (i) mortgage securities (or interests therein), including (a) adjustable-rate, hybrid adjustable-rate and pass-through certificates (including GNMA certificates, FNMA certificates and FHLMC certificates), (b) collateralized mortgage obligations, (c) securities representing interests in, or secured by, agency wrapped mortgages on real property other than pass-through certificates and CMOs, (d) agency mortgage derivative securities and other agency mortgage-backed and mortgage collateralized obligations, and (e) mortgage derivative securities; (ii) U.S. government issued bills, notes and bonds including general obligations of the agencies of the U.S. government (including, but not limited to GNMA, FNMA and FHLMC); and (iii) short-term investments, including short-term bank certificates of deposit, short-term U.S. Treasury securities, short-term U.S. government agency securities, commercial paper, repurchase agreements, short-term CMOs, short-term asset backed securities and other similar types of short-term investment instruments, all of which will have maturities or average lives of less than one (1) year.

Mortgage Assets. The initial amounts to be included in any Reserve Account and other accounts are as set forth, and the Mortgage Loans to be included in the Trust Fund are as described, in Annex A hereto.