Mortgage Loan Value definition

Mortgage Loan Value means the lesser of (i) the outstanding principal balance of the Purchased Mortgage Loan; (ii) the committed purchase price of the Purchased Mortgage Loan, as evidenced by the related Purchase Commitment; and (iii) the fair market value of the Purchased Mortgage Loan, as determined by Buyer in its sole and good faith discretion.
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Mortgage Loan Value. As of any date of determination, for each Mortgage Loan the lesser of (i) face value of the note relating to the applicable Mortgage Loan, or (ii) the outstanding balance of such note for each Mortgage Loan.
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Mortgage Loan Value means as of any date of determination, with respect to any Mortgage Loan, the appraised value, at the time of origination, of the mortgaged properties then comprising the security for such Mortgage Loan.
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Examples of Mortgage Loan Value in a sentence

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More Definitions of Mortgage Loan Value

Mortgage Loan Value has the meaning given that term in the recitals. “Mortgage Loan Value Schedule” has the meaning given that term in the recitals.
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Mortgage Loan Value means, on any day, for each Residential Mortgage that qualifies as an Eligible Mortgage, is fully covered by Investor Commitments and is pledged by such Obligor to the Collateral Agent so as to give the Collateral Agent a first and prior or perfected security interest therein and in its proceeds the least of (a) ninety-eight percent (98%) of its "Acquisition Cost" which is the amount the Obligor that is pledging it to the Collateral Agent to borrow against it under the Warehouse Line paid for it, i.e., the net amount actually funded against a Residential Mortgage originated by the applicable Obligor or the net purchase price of an Eligible Mortgage purchased by it (prorated according to their original principal amounts for Residential Mortgages in any Pool purchased by it), (b) ninety-eight percent (98%) of its "Allocated Commitment Price", which, is the investor commitment price stated in the Investor Commitment covering that Residential Mortgage (similarly prorated), (c) ninety-eight percent (98%) of Market Value, or (d) one hundred percent (100%) of its "Par Value" which is hereby defined to mean, (1) in the case of a residential Mortgage Loan refinanced by either Obligor, an amount equal to the unpaid principal balance of the residential Mortgage Loan refinanced or, (2) in the case of a purchased residential Mortgage Loan, its unpaid principal balance on the date first included in Mortgage Loan Value, even though the applicable Obligor funded or paid more than its Par Value for it and even if the Investor Commitment covering it specifies a purchase price for it greater than its Par Value; provided further, that if on any day the aggregate Mortgage Loan Values of all Pledged Mortgages whose Mortgage Notes are dated earlier than one hundred eighty (180) days before the date such Mortgage Notes were first included in Mortgage Loan Value (the "Seasoned Pledged Mortgage") shall exceed an amount equal to five percent (5%) of the aggregate Committed Sums for that same day of all Banks for the Warehouse Line of Residential Mortgages (the "5% Limit"), then the Mortgage Loan Values of all such Seasoned Pledged Mortgages shall be deemed equal to the 5% Limit; and provided further, that each
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Mortgage Loan Value means the lesser of (i) the outstanding principal balance of the Purchased Mortgage Loan; (ii) the committed purchase price of the Purchased Mortgage Loan, as evidenced by the related Purchase Commitment; and (iii) the fair market value of the Purchased Mortgage Loan, as determined by Buyer in its sole and good faith discretion. In determining the Asset Value of any Purchased Mortgage Loan, Buyer shall use valuations that are consistently applied by Buyer to all other customers for determining the Asset Value of the Purchased Mortgage Loan and, at the request of Seller, and to the extent such documentation exists, Buyer shall provide Seller with documentation reasonably related to and supporting any such determination.
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Related to Mortgage Loan Value

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Mortgage Loan Purchase Price The price, calculated as set forth in Section 10.01, to be paid in connection with the repurchase of the Mortgage Loans pursuant to Section 10.01.

  • Mortgage Loan Group Either Group I or Group II.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • Mortgage Loan Principal Balance means, at any date of determination, the aggregate principal balance of the Notes evidencing the Mortgage Loan.

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

  • 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.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

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

  • Mortgage Loan File As defined in Section 2.1(b) and any additional documents required to be added to the Mortgage Loan File pursuant to this Agreement.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to the sum of (i) the Aggregate Principal Balance of all Collateral Obligations sold and/or contributed to the Buyer by the Seller (directly or indirectly) hereunder prior to such date plus (ii) the Aggregate Principal Balance of all Collateral Obligations acquired by the Buyer other than from the Seller prior to such date, in each case calculated as of the date of the Buyer’s acquisition thereof.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans sold by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

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

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

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

  • Delinquent Mortgage Loan The meaning ascribed thereto in Section 11.02.

  • 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.

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.