Mortgage Loan Group 2 definition

Mortgage Loan Group 2. The group of Mortgage Loans which is composed of the Group 2 Mortgage Loans.
Sample 1Sample 2Sample 3
Mortgage Loan Group 2. At any time, the Group 2 Mortgage Loans in the aggregate and any REO Properties acquired in respect thereof.
Sample 1Sample 2Sample 3
Mortgage Loan Group 2. The Mortgage Loans included as such on the Mortgage Loan Schedule.
Sample 1Sample 2Sample 3

Examples of Mortgage Loan Group 2 in a sentence

  • The Current Principal Amount of the Class II-PO Certificates is equal to a strip of principal from the Discount Mortgage Loans in Mortgage Loan Group 2, and its Principal Balance is paid down based on its share of the payments of principal from the Discount Mortgage Loans in Mortgage Loan Group 2.

  • After such notification to BSMCC and, if any such excess exists, upon receipt of such deposit, the Trustee shall accept such Substitute Mortgage Loan, which shall thereafter be deemed to be a Group 1 Mortgage Loan, Group 2 Mortgage Loan, Group 3 Mortgage Loan or Group 4 Mortgage Loan, as applicable, hereunder.

  • After such notification to BSMCC and, if any such excess exists, upon receipt of such deposit, the Trustee shall accept such Substitute Mortgage Loan, which shall thereafter be deemed to be a Group 1 Mortgage Loan, Group 2 Mortgage Loan, Group 3 Mortgage Loan, Group 4 Mortgage Loan or Group 5 Mortgage Loan, as applicable, hereunder.

  • Approximately 0.03%, 0.11%, 1.68% and 19.88% of the Mortgage Loans in Mortgage Loan Group 2 have a single payment of the remaining loan balances approximately 5, 7, 10 and 15 years, respectively, after origination.

  • The Group 2 Bonds are related to Mortgage Loan Group 2 which is represented by Conventional Certificate 1998-1B.

  • It shall have a notional balance at all times equal to the sum of the Scheduled Principal Balances of Mortgage Loan Group 1, Mortgage Loan Group 2, and Mortgage Loan Group 3 at the beginning of the related Due Period (or, in the case of the first Distribution Date, as of the Cut-Off Date).

  • Any Mortgage Loan in Mortgage Loan Group 1 or Mortgage Loan Group 2 with a Net Rate less than 6.75% per annum or 6.50% per annum, respectively.

  • In making the withdrawals set forth in clauses (i) and (ii) above, the Trustee shall note in its records (if applicable) the respective amounts withdrawn with respect to Mortgage Loan Group 1, Mortgage Loan Group 2, Mortgage Loan Group 3, Mortgage Loan Group 4, Mortgage Loan Group 5, Mortgage Loan Group 6 and Mortgage Loan Group 7.

  • After such notification to BSMCC and, if any such excess exists, upon receipt of such deposit, the Trustee shall accept such Substitute Mortgage Loan, which shall thereafter be deemed to be a Group 1 Mortgage Loan, Group 2 Mortgage Loan or Group 3 Mortgage Loan, as applicable, hereunder.

  • The current Mortgage Interest Rate and Gross Margin for each Mortgage Loan in Mortgage Loan Group 2 are not less than 5.43% and 0.00% per annum, respectively.


More Definitions of Mortgage Loan Group 2

Mortgage Loan Group 2. Mortgage Loan Group 3," "Mortgage Loan Group 4" and "Mortgage Loan Group 5" and each, a "Mortgage Loan Group"), each of which constitutes a separate sub-trust, generally consisting of conventional, first lien, fixed rate mortgages secured by one- to four-family residences, and individual condominium units located primarily in California, Texas and Massachusetts (collectively, the "Mortgage Loans"), which will be sold to the Trust by Bear Stearns Mortgage Securities Inc. ("BSMSI"). The Mortgage Loans were xxxx xy Bear Stearns Mortgage Capital Corporation to BSMSI. North American Mortgxxx Xxxpany ("NAMC") and PHH Mortgage Services Corporation ("PHH") will act as master servicers of the Mortgage Loans (the "Master Servicers," which term includes any successors thereto under the Agreement referred to below). The Trust was created pursuant to the Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement"), by and among BSMSI, as seller, NAMC, as a master servicer, PHH, as a master servicer, and The First National Bank of Chicago, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, capitalized terms used herein shall have the meaning ascribed to them in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of its acceptance hereof assents and by which such Holder is bound. Interest on this Certificate will accrue during the month prior to the month in which a Distribution Date (as hereinafter defined) occurs on the Current Principal Amount hereof at a per annum rate equal to the Pass-Through Rate. The Trustee will distribute on the 25th day of each month, or, if such 25th day is not a Business Day, the immediately following Business Day (each, a "Distribution Date"), commencing on the First Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last Business Day of the calendar month preceding the month of such Distribution Date, an amount equal to the product of the Fractional Undivided Interest evidenced by this Certificate and the amount required to be distributed to Holders of Certificates of the same Class as this Certificate. The Assumed Final Distribution Date is the Distribution Date immediately following the latest scheduled maturity ...
Sample 1
Mortgage Loan Group 2. The Group 2 Mortgage Loans.
Sample 1

Related to Mortgage Loan Group 2

  • Mortgage Loan Group Either Group I or Group II.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Loan Group 2 The Group 2 Mortgage Loans.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

  • Loan Group IV The group of Mortgage Loans comprised of the Group IV Loans.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • 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.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Loan Group 4 The Group 4 Mortgage Loans.