Mortgage Loan Group 2 definition

Mortgage Loan Group 2. The group of Mortgage Loans which is composed of the Group 2 Mortgage Loans.

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Mortgage Loan Group 2. The Mortgage Loans included as such on the Mortgage Loan Schedule.

Mortgage Loan Group 2. At any time, the Group 2 Mortgage Loans in the aggregate and any REO Properties acquired in respect thereof.

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, Group 4 Mortgage Loan or Group 5 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 or Group 4 Mortgage Loan, as applicable, hereunder.
Approximately 12.64% of the Mortgage Loans in Mortgage Loan Group 1, approximately 21.68% of the Mortgage Loans in Mortgage Loan Group 2, approximately 28.95% of the Mortgage Loans in Mortgage Loan Group 3 and approximately 23.47% of the Mortgage Loans in Mortgage Loan Group 4, are balloon loans based on a 30-year amortization schedule.
None of the Mortgage Loans in Mortgage Loan Group 1, Mortgage Loan Group 2, or Mortgage Loan Group 3 is subject to HOEPA.
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).
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.
In making the deposits set forth in clauses (i) through (iv) (inclusive) above, the Trustee, in reliance on the Remittance Report remitted to the Trustee by the Servicer, shall note in its records (if applicable) the respective amounts deposited with respect to Mortgage Loan Group 1, Mortgage Loan Group 2, Mortgage Loan Group 3 and Mortgage Loan Group 4.
The Mortgage Note related to each Mortgage Loan in Mortgage Loan Group 1, Mortgage Loan Group 2, Mortgage Loan Group 3 and Mortgage Loan Group 4 bears a fixed Mortgage Interest Rate.
The Current Principal Amount of the Class PO Certificates initially will be the amount shown above and is composed of Component 1-PO with an initial current Principal Amount of $47,725 and Component 2-PO with an initial Current Principal Amount of $521,362, equal to strips of principal from the Discount Mortgage Loans in Mortgage Loan Sub-Group 1B and Mortgage Loan Group 2, 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 ▇▇▇▇ ▇y Bear Stearns Mortgage Capital Corporation to BSMSI. North American Mortg▇▇▇ ▇▇▇pany ("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 ...

Mortgage Loan Group 2. The Group 2 Mortgage Loans.