Net Mortgage Interest Rate definition

Net Mortgage Interest Rate. As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

Net Mortgage Interest Rate. With respect to each Mortgage Loan, a rate equal to (i) the Mortgage Interest Rate on such Mortgage Loan minus (ii) the sum of (a) the applicable Servicing Fee Rate, as set forth in Section 11.25 with respect to such Mortgage Loan, (b) the Master Servicing Fee Rate, as set forth in Section 11.26 with respect to such Mortgage Loan and (c) the Fixed Retained Yield Rate, if any, with respect to such Mortgage Loan. Any regular monthly computation of interest at such rate shall be based upon annual interest at such rate on the applicable amount divided by twelve.

Net Mortgage Interest Rate. With respect to any Mortgage Loan, the Mortgage Interest Rate borne by such Mortgage Loan minus the Expense Fee Rate.

Examples of Net Mortgage Interest Rate in a sentence

• In addition, such Substitute Mortgage Loan shall have a Loan-to-Value Ratio less than or equal to and a Net Mortgage Interest Rate equal to that of the Mortgage Loan for which it is substituted.

• The Seller further agrees that a substituted mortgage loan will have (i) an unpaid principal balance no greater than the Scheduled Principal Balance of the Mortgage Loan for which it is substituted (after giving effect to the scheduled principal payment due in the month of substitution on the Mortgage Loan for which such mortgage loan is substituted) and (ii) a Net Mortgage Interest Rate equal to and a Loan-to-Value Ratio no greater than that of the Mortgage Loan for which it is substituted.

• In addition, such Substitute Mortgage Loan (i) shall have a Loan-to-Value Ratio less than or equal to and a Net Mortgage Interest Rate equal to that of the Mortgage Loan for which it is substituted, (ii) shall have the same Gross Margin and Index as that of the Mortgage Loan for which it is substituted and (iii) shall have the same frequency of mortgage rate adjustment as that of the Mortgage Loan for which it is substituted.

• On the related Closing Date, the Purchaser shall pay to the Company for the Mortgage Loans in the related Mortgage Loan Package the sum of (i) the Stated Principal Balance of such Mortgage Loans multiplied by the Purchase Price Percentage, plus (ii) an amount equal to accrued and unpaid interest on the Mortgage Loans at the Net Mortgage Interest Rate, from and including the related Cut-Off Date through and including the day before the related Closing Date.

• In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Seller, at closing, accrued interest on the Stated Principal Balance of each Mortgage Loan as of the related Cut-off Date at the Net Mortgage Interest Rate from the related Cut-off Date through the day prior to the related Closing Date, both inclusive.

More Definitions of Net Mortgage Interest Rate

Net Mortgage Interest Rate. With respect to each Mortgage Loan, a rate equal to (i) the Mortgage Interest Rate on such Mortgage Loan minus (ii) the sum of (a) the applicable Servicing Fee Rate, as set forth in Section 11.23 with respect to such Mortgage Loan and (b) the Master Servicing Fee Rate, as set forth in Section 11.24 with respect to such Mortgage Loan. Any regular monthly computation of interest at such rate shall be based upon annual interest at such rate on the applicable amount divided by twelve.

Net Mortgage Interest Rate. With respect to a Mortgage Loan, the difference between (a) the Mortgage Interest Rate on such Mortgage Loan and (b) the Servicing Fee Percentage.

Net Mortgage Interest Rate. With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Mortgage Interest Rate for such Mortgage Loan minus the Servicing Fee Rate.

Net Mortgage Interest Rate. As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the calendar month preceding the month of such Distribution Date reduced by the applicable Administrative Fee Rate for such Mortgage Loan.

Net Mortgage Interest Rate. With respect to any Mortgage Loan, the Mortgage Interest Rate applicable to such Mortgage Loan less the Servicing Fee.

Net Mortgage Interest Rate. With respect to any Mortgage Loan, a per annum rate equal to the Mortgage Interest Rate less the percentage with respect to such Mortgage Loan identified on the Mortgage Asset Schedule. New York Presenting Agent: State Street Bank and Trust Company, N.A., with its offices at 00 Xxxxxxxx, Xxx Xxxx, Xxx Xxxx or such other office within the Borough of Manhattan, City of New York, State of New York, as Xxxxxx Xxx may appoint by notice to the Trustee.

Net Mortgage Interest Rate. The Mortgage Interest Rate with respect to a Mortgage Loan minus the Servicing Fee Rate payable to the Servicer. OCC: Office of the Comptroller of the Currency, and its successors in interest.