Mortgage Purchase Date definition

Mortgage Purchase Date or “Purchase Date” means the date on which a Mortgage Purchase occurs.
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Mortgage Purchase Date. The date of payment by the Authority for any Mortgage Loan purchased under this Agreement.
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Mortgage Purchase Date. ] means each Mortgage Collection Payment Date and Monthly Payment Date;
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Examples of Mortgage Purchase Date in a sentence

  • Delivery by the Lender of a Mortgage Loan to the Authority for purchase pursuant to this Agreement shall constitute the warranty and representation by the Lender that on such Mortgage Purchase Date each of the following facts is true and correct with respect to such Mortgage Loan and, as applicable, with respect to the Lender.

  • The Lender assigns and sets over to the Authority as of the Mortgage Purchase Date of each Mortgage Loan, all its right, title and interest in and to such policies or contracts of insurance and any benefits that it has received or may receive on each Mortgage Loan conveyed to the Authority on such Mortgage Purchase Date.

  • Following the happening of any insurable event under any such policy prior to the Mortgage Purchase Date, of which the Lender has knowledge, the Lender shall promptly collect and pay over to the Authority the benefits payable under any such policy.

  • As of the Mortgage Purchase Date, the Mortgage Lender has complied with all of its servicing and other obligations pursuant to Section 4.17 hereof.

  • As of the Mortgage Purchase Date, the representations, warranties and covenants of the Mortgage Lender set forth in Section 2.02 hereof remain true and are in full force and effect.

  • As of the Mortgage Purchase Date, the Mortgage Lender has no knowledge of any circumstances or condition with respect to the Mortgagor, Single Family Residence, Mortgage Loan or any related document that could reasonably be expected to cause prudent private investors in the secondary market to regard the Mortgage Loan as an unacceptable investment, cause the Mortgage Loan to become delinquent or to adversely affect the value or the marketability of the Mortgage Loan.

  • In subsection 4.13(m) of this Agreement, the Mortgage Lender represents and warrants to, and covenants with the Authority and the Servicer with respect to each Mortgage Loan purchased by the Servicer, that the Home located on the Mortgaged Property is complete and in general good repair as of the Mortgage Purchase Date.

  • As of the Mortgage Purchase Date, the Mortgage Loan shall be current as to principal and interest payments due and there shall be no delinquent tax or delinquent assessment lien against the property financed by the Mortgage Loan unless permitted by the GNMA Guide, the Xxxxxxx Mac Guide or the Xxxxxx Mae Guide, as applicable.

  • As of the Mortgage Purchase Date, the improvements upon the real property subject to the Mortgage Loan will be covered by a valid Standard Hazard Insurance Policy, Flood Insurance Policy, if applicable, and Multi-peril Policy for Condominiums, if applicable, and as required by FHA or VA or USDA Rural Development regulations or the PMI Insurer and the GNMA Guide, Xxxxxxx Mac or Xxxxxx Mae, as applicable.

  • As of the Mortgage Purchase Date, as to each Mortgage, there shall be no mechanics’, laborers’, or materialman’s liens or claims therefor outstanding for work, labor, or materials affecting the property encumbered by the Mortgage securing the Mortgage Loan that are or might be or become liens prior to, or equal with, the lien of the Mortgage and no rights outstanding that under law could give rise to such lien, for work performed or materials supplied to the property prior to the date of the Mortgage.


More Definitions of Mortgage Purchase Date

Mortgage Purchase Date means the date of any Purchase as set forth in the Program Documents.
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Mortgage Purchase Date means the date of payment by the Board or the Master Servicer for a Mortgage Loan purchased hereunder.
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Related to Mortgage Purchase Date

  • Final Purchase Date means the final date on which a purchase and sale of Loans and their Related Security is completed pursuant to the terms of the Mortgage Sale Agreement;

  • Purchase Date means one or more dates during an Offering selected by the Board on which Purchase Rights will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering.

  • VWAP Purchase Date means, with respect to any VWAP Purchase made hereunder, the Business Day following the receipt by the Buyer of a valid VWAP Purchase Notice that the Buyer is to buy Purchase Shares pursuant to Section 1(c) hereof.

  • Repurchase Date has the meaning specified in Section 14.1.

  • Defaulted Mortgage Loan Purchase Price means, in connection with the purchase of the A Notes by the Note B Holder, the sum, without duplication, of each of the following to the extent that such amounts have not been previously paid or reimbursed pursuant to Section 3 or Section 4 of this Agreement: (a) the Note A Principal Balance, (b) accrued and unpaid interest, on the Note A Principal Balance at the Note A Rate from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c) any other amounts due under the Mortgage Loan to the Note A Holders, other than Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, provided that if a Borrower Party is the purchaser, the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication of amounts under clause (c), any unreimbursed Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation, Property Protection Advances payable or reimbursable to any Servicer, and special servicing fees incurred by or on behalf of the Note A Holders), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance Interest Amount with respect to an Advance made by or on behalf of the Note A Holders, (f) (x) if a Borrower Party is the purchaser, or (y) if the Mortgage Loan is purchased more than ninety (90) days after such option first becomes exercisable pursuant to Section 12 of this Agreement, any liquidation or workout fees payable under the Servicing Agreement with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed previously to the Note A Holders pursuant to this Agreement. Notwithstanding the foregoing, if the purchasing Noteholder is purchasing from a Borrower Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts described under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a Foreclosure Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on Note A at the Note A Default Rate as if the Mortgage Loan were not so converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the Purchasing Noteholder under this Agreement.

  • First Repayment Date means, in relation to each Tranche (and subject to clause 6.3), the date falling three (3) months after the earlier of (a) the Drawdown Date of the Delivery Advance relevant to such Tranche and (b) the last day of the Drawdown Period for the Delivery Advance relevant to such Tranche;

  • Change of Control Purchase Date shall have the meaning specified in Section 10.1.

  • Final Purchase Price has the meaning set forth in Section 2.02.

  • Initial Purchase Date The first Payment Date following the month in which the Pool Balance is initially reduced to less than 20% of the Cut-off Date Balance.

  • Put Option Repayment Date means the settlement date for the Put Option pursuant to Clause 10.3 (Mandatory repurchase due to a Put Option Event).