Negative Amortization Factor definition

Negative Amortization Factor. With respect to PCs backed by Mortgages providing for negative amortization, a truncated eight-digit decimal number that reflects the amount of Deferred Interest added to the principal balances of the related Mortgages in the preceding month.
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Examples of Negative Amortization Factor in a sentence

  • The interest payment on the Deferred Interest PC in that month shall be (i) 1/12th of the PC Coupon multiplied by (ii) the original principal balance of the Holder’s PC multiplied by (iii) the preceding month’s Pool Factor minus the preceding month’s Negative Amortization Factor.

  • The interest payment on the Deferred Interest PC in that month shall be (i) 1/12th of the PC Coupon 12 multiplied by (ii) the original principal balance of the Holder’s PC multiplied by (iii) the preceding month’s Pool Factor minus the preceding month’s Negative Amortization Factor.

  • When negative amortization occurs, we will indicate this in the following month: • By publishing a Negative Amortization Factor for the PC Pool.

  • When negative amortization has occurred, we will make interest payments to you at the applicable PC Coupon, less the aggregate deferred interest indicated by the Negative Amortization Factor published in the previous month.

  • When negative amortization has occurred, we will make interest payments to you at the applicable PC Coupon, less the deferred interest indicated by the Negative Amortization Factor published in the previous month.

  • When negative amortization occurs, we will indicate this in the following month:‚ By publishing a Negative Amortization Factor for the PC Pool.‚ By including a corresponding amount in the related Pool Factor.A ""Negative Amortization Factor'' is a truncated eight-digit decimal number that reÖects the amount of deferred interest added to the principal balance of the Mortgages in a PC Pool in the preceding month.

  • When negative amortization occurs, we will indicate this in the following month:‚ By publishing a Negative Amortization Factor for the PC Pool.‚ By including a corresponding amount in the related Pool Factor.A ""Negative Amortization Factor'' is a truncated seven-digit decimal number that reÖects the amount of deferred interest added to the principal balance of the Mortgages in a PC Pool in the preceding month.

  • Use of FactorsYou can calculate principal and interest payments by using the Class, Component and Net Negative Amortization Factors.For example, the reduction in the balance of a Class in February will equal its original balance times the diÅerence between its January and February Class Factors, as increased by its February Net Negative Amortization Factor, if any.

Related to Negative Amortization Factor

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2023-A Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Consolidated Amortization Expense means, for any period, the amortization expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Overcollateralized Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Expected Amortization Schedule means, with respect to any Tranche, the expected amortization schedule related thereto set forth in the Series Supplement.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Class Factor As to any date of determination and any Combinable Class, the then current Class Factor for the Related REMIC Class. As to any date of determination and any RCR Class, a fraction the numerator of which is the sum of the then current Class Balances of

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cut-off Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Early Amortization Event means the occurrence of any of the following: