Mortgage Conditions definition
Examples of Mortgage Conditions in a sentence
Mortgage Conditions: It is hereby provided and agreed that subject to the terms of this mortgage condition (and these shall supersede any policy conditions in conflict therewith but only as to the interest of the mortgagee), loss under this policy is made payable to the Mortgagee specified on the Declaration Page.
Although the Originator and the Seller will have regard to the Loan Index in respect of any proposed reset of any interest rate applicable to any Mortgage Receivable (or part thereof), any proposed interest rate shall always be set subject to, and in accordance with, the applicable Interest Rate Policy and applicable laws, including, without limitation, principles of reasonableness and fairness, competition laws and the Mortgage Conditions.
Pursuant to the Mortgage Conditions in respect of the Mortgage Loans, Construction Deposits have to be paid out within 12 (in the case of existing Mortgaged Assets) to 18 months (in the case of newly built Mortgaged Assets).
The Mortgage Conditions applicable to the Mortgage Loans provide that payments by the Borrowers should be made without set-off.
The Servicer shall only be under an obligation to set the Variable Rate in accordance with the provisions of this clause 4.4 if it would not result in a breach of the applicable Mortgage Conditions and would not be contrary to applicable laws (including without limitation, applicable guidelines and applicable statements of good practice of the FCA) and may be undertaken in accordance with the standards of a Reasonable, Prudent Mortgage Lender.