Mortgage Loans Held for Sale definition

Mortgage Loans Held for Sale means mortgage loans to homebuyers, that are originated by Inspire Home Loans Inc., a Delaware corporation (which is a Subsidiary of Borrower), and that are intended to be sold in the secondary market.
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Mortgage Loans Held for Sale. Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated market value in the aggregate. -------------------------------------------------------------------------------- (Continued)
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Mortgage Loans Held for Sale means those multi-family mortgage loans identified on Schedule 1.1 — “Mortgage Loans Held for Sale” (or originated by the Seller between the date of such Schedule and the Closing Date in compliance with Section 5.1(a)) and which, as of the Closing Date, are held by the Seller for sale to one of the Agencies or a conduit lender, or, as to FHA Loans, have been insured by FHA.
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Examples of Mortgage Loans Held for Sale in a sentence

  • Loans and Mortgage Loans Held for Sale - The fair value of fixed rate loans -------------------------------------- is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings.

  • Mortgage Loans Held for Sale In general, fixed rate residential mortgage loans originated by the Bank that qualify for sale in the secondary market are held for sale and are carried at the aggregate lower of cost or market.

  • Mortgage Loans Held for Sale For mortgage loans held for sale, the fair values are based on market price quotations from dealers.

  • FUTURE ACCOUNTING PRONOUNCEMENTS, CONTINUED: FAS No. 134, "Accounting for Mortgage-Backed Securities retained after the Securitization of Mortgage Loans Held for Sale by a Mortgage Banking Entity," amends FAS No. 65 allowing mortgage-backed securities or other retained interests arising from the securitization of mortgage loans to be classified based on the mortgage banking entities' ability and intent to sell of hold those securities.

  • In October 1998, the FASB issued SFAS No. 134, Accounting for Mortgage-Backed Securities Retained After the Securitization of Mortgage Loans Held for Sale by a Mortgage Banking Enterprise.

  • Mortgage Loans Held for Sale Mortgage loans held for sale represent loans that have forward sales commitments.

  • Loans and Mortgage Loans Held for Sale - The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings.

  • Loans and Mortgage Loans Held for Sale -------------------------------------- The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings.

  • Mortgage Loans Held for Sale Mortgage loans originated and held for sale in the secondary market are carried at the lower of cost or estimated market value in the aggregate.

  • AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 1999, 1998, and 1997 -------------------------------------------------------------------------------- NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Mortgage Loans Held for Sale: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated market value in the aggregate.


More Definitions of Mortgage Loans Held for Sale

Mortgage Loans Held for Sale that dollar amount shown as such on the balance sheet of the Borrower as of the relevant Applicable Financial Test Date.
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Mortgage Loans Held for Sale. ’ means those multi-family mortgage loans identified on Schedule 1.1—‘‘Mortgage Loans Held for Sale’’ (or originated by the Seller between the date of such Schedule and the Closing Date in compliance with Section 5.1(a)) and which, as of the Closing Date, are held by the Seller for sale to one of the Agencies or a conduit lender, or, as to FHA Loans, have been insured by FHA.
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Mortgage Loans Held for Sale. (or originated by the Seller between the date of such Schedule and the Closing Date in compliance with Section 5.1(a)) and which, as of the Closing Date, are held by the Seller for sale to one of the Agencies or a conduit lender, or, as to FHA Loans, have been insured by FHA.
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Mortgage Loans Held for Sale means mortgage loans to homebuyers, that are originated by Inspire Home Loans Inc., a Delaware corporation (which is a Subsidiary of Borrower), and that are intended to be sold in the secondary market. SECOND AMENDED AND RESTATED CREDIT AGREEMENT – Page 23
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Mortgage Loans Held for Sale means Mortgage Loans that are acquired or originated principally for the purpose of sale within one year of the date of the acquisition or origination thereof.
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Mortgage Loans Held for Sale. Net of Loss Reserves,” “Beneficial Interest in Trust,” “Residuals – Available for Sale,” “Residuals – Held for Trade,” “Mortgage Servicing Rights,” “Property, Plant and Equipment,” “Servicing and Related Assets”, “Mortgage Loans Held for Investment,” “Other Real Estate Owned,” “Pipeline Mortgage Loans,” and “Other Assets,” less (ii) the sum of “Repurchase Liability,” “Borrowings and Due to Warehouse,” and “Other Liabilities.” Each of the capitalized terms in clauses (i) and (ii) of the preceding sentence have meanings consistent with the meanings given to such terms in the Target Tangible Net Assets Statement. Notwithstanding anything to the contrary herein, the calculation of Tangible Net Assets will not include any Intercompany Indebtedness, Deferred Tax Asset, Deferred Tax Liability or any liabilities or assets related to Taxes or other matters which Seller has agreed to pay or provide indemnity hereunder.
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Related to Mortgage Loans Held for Sale

  • 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.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred 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.

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

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

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

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

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Eligible Substitute Mortgage Loan With respect to a Mortgage Loan substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan which must, on the date of such substitution, (i) have a Principal Balance, (or, in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Principal Balance), not in excess of, and not more than 10% less than the Principal Balance of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.03 hereof; (vi) be the same credit grade category as the Deleted Mortgage Loan; (vii) have the same prepayment penalty term; and (viii) not be a Cooperative Mortgage Loan unless the Deleted Mortgage Loan was a Cooperative Mortgage Loan.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

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

  • 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.

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

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Mortgage Loan Package Each pool of Mortgage Loans, which shall be purchased by the Purchaser from the Seller from time to time on each Closing Date.

  • Eligible Mortgage Loan means a Mortgage Loan (including a Wet Funded Loan) with respect to which each of the following statements shall be accurate and complete (and Borrower, by including such Mortgage Loan in any computation of the Borrowing Base, shall be deemed to so represent and warrant to the Lenders as of the date of such computation):

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

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • 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.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Non-MERS Mortgage Loan Any Mortgage Loan other than a MERS Mortgage Loan.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

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

  • Other Servicer Mortgage Loan Any of the Mortgage Loans, if any, identified in Exhibit F-2 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, which Mortgage Loan is serviced under an Other Servicing Agreement.