Mortgage Loan Type definition

Mortgage Loan Type. Purchase Price Percentage: _______________________________ Servicing Fee Rate: _______________________________

Mortgage Loan Type. An interim First Mortgage Loan secured by a Multifamily Property to (i) refinance an existing third party Mortgage Loan, or (ii) finance the acquisition of such Multifamily Property, in either case possibly to include funds for minor repairs and rehabilitation (subject to the limitations set forth in this Exhibit and the Agreement).

Mortgage Loan Type. An interim First Mortgage Loan secured by an Independent Living Facility to (i) refinance an existing third party Mortgage Loan, or (ii) finance the acquisition of such Independent Living Facility, in either case possibly to include funds for minor repairs and rehabilitation (subject to the limitations set forth in this Exhibit and the Agreement). For the avoidance of doubt, Mortgage Loans secured by Continuing Care Retirement Communities shall not be Eligible Loans.

Examples of Mortgage Loan Type in a sentence

• PMC shall offer to the Franchisee Customers a variety of PMC Mortgage Loan Types in order to permit Franchisee Customers to select a PMC Mortgage Loan Type best suited to their financial needs.

• PMC shall develop appropriate underwriting guidelines for each PMC Mortgage Loan Type available to Franchisee Customers (the “PMC Underwriting Guidelines”), which PMC Underwriting Guidelines shall be consistent with the underwriting guidelines followed by PHH and its Affiliates in connection with Mortgage Loans offered to their own customers for the same products in the same geographic area and at the same time.

• The Company shall develop appropriate underwriting guidelines for each Mortgage Loan Type (the “Venture Underwriting Guidelines”), which Venture Underwriting Guidelines shall be consistent with the underwriting guidelines followed by PHH and its Affiliates in connection with Mortgage Loans offered to their own customers for the same products in the same geographic area and at the same time.

• Seller or Underlying Repurchase Counterparty shall maintain throughout the term of this Agreement, with a nationally recognized and established counterparty (other than Buyer) at least one loan repurchase or warehouse facility that provides funding on a committed basis in a combined amount equal to at least the Committed Amount and which has a Wet Mortgage Loan Type Sublimit not less than the Wet Mortgage Loan Type Sublimit hereunder.

• Seller and PMOP, in the aggregate, shall maintain throughout the term of this Agreement, with a nationally recognized and established counterparty (other than Buyer) at least one loan repurchase or warehouse facility that provides funding on a committed basis in a combined amount equal to at least the Committed Amount and which has a Wet Mortgage Loan Type Sublimit not less than the Wet Mortgage Loan Type Sublimit hereunder.

More Definitions of Mortgage Loan Type

Mortgage Loan Type. An interim First Mortgage Loan secured by a Assisted Living Facility to (i) refinance an existing third party Mortgage Loan, or (ii) finance the acquisition of such Assisted Living Facility, in either case possibly to include funds for minor repairs and rehabilitation (subject to the limitations set forth in this Exhibit and the Agreement); provided that if the Assisted Living Facility includes an Alzheimer/Memory Care Unit, such Alzheimer/Memory Care Unit shall not exceed (x) 30% of the total units in such Assisted Living Facility or (y) 30% of the income generated by such Assisted Living Facility. For the avoidance of doubt, Mortgage Loans secured by Skilled Nursing Facilities, Continuing Care Retirement Communities or purely Alzheimer/Memory Care Units shall not be Eligible Loans.

Mortgage Loan Type. Pooling and Servicing Agreement: The Pooling and Servicing Agreement, dated as of [__________], among the Purchaser, Washington Mutual Bank, as Servicer, [__________] as Trustee, and [__________], as Delaware Trustee Servicing Fee Rate: [___% for each Mortgage Loan] [A range between ___% and ___%, as set forth for each Mortgage Loan in the Mortgage Loan Schedule, with a weighted average of ___%] Weighted Average Net Rate of the Mortgage Loans: _______________________________ Additional Consideration: Delivery of the Class R-CX Certificates, the Class R-PX Certificates and the Class R-CX Certificates to Washington Mutual Bank upon the order of the Seller and delivery of the Class C Certificates and the Class P Certificates to Seafair Securities Holding Corp.

Mortgage Loan Type. Second lien fixed rate.