Mortgage loan closing definition

Mortgage loan closing means the day by which all documents
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Mortgage loan closing means the day by which all documents relating to the mortgage loan have been executed and recorded and all monies have been accounted for under the terms of the escrow instructions.
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Mortgage loan closing. The date on which the Loan Documents become effective between the Lender and the Partnership.
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Examples of Mortgage loan closing in a sentence

  • Upon receipt of such book-entry interest and the execution of Loan Documents evidencing the Mortgage Loan on the Mortgage Loan Closing Date, the Operating Partnership shall cause the trustee to cancel such book-entry interest and such book-entry interest shall thereafter be of no further effect.

  • Further, the Rate Setting Form establishes the Mortgage Loan Closing Date and includes a certification of no material adverse change in the Financial Statements and in the Certification of Previous Multifamily Real Estate Experience for Borrower and all key Principals of Borrower.

  • Interest at the Selected Interest Rage, calculated on the basis of a 360-day year comprised of twelve (12) thirty day months, shall be due and payable commencing on the "Mortgage Loan Closing Date" as hereinafter defined.

  • The Mortgage Loan shall be evidenced and secured by such documents, certifications and other instruments (collectively, "Mortgage Loan Documents") as WMF, FNMA and/or the DUS Guide require, all of which shall be in force and substance acceptable to WMF and WMF's Counsel and consistent with all MBS/DUS Program requirements in effect on the Mortgage Loan Closing Date.

  • On the Mortgage Loan Closing Date, the Loan Fee set forth above shall be paid to WMF by Borrower in immediately available funds (or an amount equal to such Loan Fee shall be deducted from the Mortgage Loan proceeds funded by WMF).

  • Borrower shall hold legal title to the Property on the "Mortgage Loan Closing Date" defined below and, for the entire term of the Mortgage Loan, shall have no assets, legal purpose or business other than ownership and operation of the Property.

  • If the Borrower wishes to finance a Mortgage Loan hereunder that does not comply in all respects with the Underwriting Guidelines, the Borrower shall request prior approval thereof from the Agent and will deliver to the Agent, no later than three (3) Business Days prior to the requested Mortgage Loan Closing Date, the related underwriting file.

  • On the Mortgage Loan Closing Date, the Discount, if any, due to WMF as described in subsection 2(c) of this Commitment, shall be paid to WMF by Borrower in immediately available funds (or an amount equal to such Discount shall be deducted from the Mortgage Loan proceeds funded by WMF).

  • Unless otherwise waived, on the Mortgage Loan Closing Date and to assure the future availability of funds to satisfy the costs of certain replacement items set forth on Exhibit "A" attached to this Commitment, Borrower shall deposit with WMF the Initial Deposit to Replacement Reserves set forth above in immediately available funds (or an amount equal to the Initial Deposit to Replacement Reserve shall be deducted from the Mortgage Loan proceeds funded by WMF).

  • The parties agree that they will use their commercially reasonable efforts to cause such Mortgage Loan Closing to occur promptly.

Related to Mortgage loan closing

  • Loan Closing means the date on which an executed Loan Agreement between the Trust and a Borrower is delivered pursuant to this Bond Resolution.

  • Mortgage Loan Seller Each of CREFI, GACC and JPMCB, and their respective successors in interest.

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • Mortgage Loan Seller Sub-Servicer A Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed on Exhibit S to this Agreement, or any successor thereto.

  • Loan Closing Date means the date upon which the Loan is made to the Company.