Option One Mortgage Loans definition

Option One Mortgage Loans means those Mortgage Loans serviced by Option One pursuant to the terms of this Agreement.
Sample 1Sample 2
Option One Mortgage Loans. The Mortgage Loans purchased by the Sponsor pursuant to the Option One Purchase Agreement for which Option One is identified as Originator on the Mortgage Loan Schedule.
Sample 1Sample 2
Option One Mortgage Loans. Any Mortgage Loans originated or acquired by the Seller pursuant to the Option One Mortgage Loan Purchase Agreement.
Sample 1Sample 2

Examples of Option One Mortgage Loans in a sentence

  • At the cost and expense of Option One, without any right of reimbursement from its Custodial Account, Option One shall be entitled to terminate the rights and responsibilities of a subservicer and arrange for any servicing responsibilities to be performed by a successor subservicer; provided, however, that nothing contained herein shall be deemed to prevent or prohibit Option One, at Option One's option, from electing to service the related Option One Mortgage Loans itself.

  • Notwithstanding the foregoing, Option One shall not be relieved of its obligations hereunder with respect to the Option One Mortgage Loans and shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Option One Mortgage Loans.

  • Option One shall prepare and deliver to the Depositor and/or the Trustee such documents requiring execution and delivery by any or all of them as are necessary or appropriate to enable Option One to service and administer the Option One Mortgage Loans.

  • Option One shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis with respect to the Option One Mortgage Loans, for the purpose of justifying any withdrawal from the Custodial Account pursuant to subclauses (i), (ii), (iv), (v) and (vi) above.

  • Such reports and recommendations will be based upon information provided to the Credit Risk Manager pursuant to the Credit Risk Management Agreement and the Credit Risk Manager shall look solely to Option One for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Option One Mortgage Loans.

  • In addition, Option One shall provide such other information with respect to the Option One Mortgage Loans and the servicing and administration thereof within the control of Option One which shall be required to enable the Depositor and the Trustee to comply with the reporting requirements of the Securities and Exchange Act of 1934, as amended (the "Exchange Act").

  • Option One shall be responsible for maintaining, and shall maintain, a complete set of books and records for the Option One Mortgage Loans which shall be appropriately identified in Option One's computer system to clearly reflect the ownership of the Option One Mortgage Loans by the Trust.

  • In connection with its activities as administrator and servicer of the Option One Mortgage Loans, Option One agrees to prepare and present, on behalf of itself, the Trustee and Certificateholders, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

  • Mortgage Loans; Determination of Excess Liquidation Proceeds and Realized Losses; Repurchases of Certain Option One Mortgage Loans.

  • Nothing in this Subsection 7.04(d) shall affect the Trustee's obligation to take such actions as are necessary to ensure the servicing and administration of the Option One Mortgage Loans pursuant to this Agreement.


More Definitions of Option One Mortgage Loans

Option One Mortgage Loans. The Mortgage Loans purchased by the Purchaser pursuant to the Option One Purchase Agreement for which Option One is identified as Responsible Party in the Mortgage Loan Schedule.
Sample 1Sample 2
Option One Mortgage Loans. The Mortgage Loans serviced by Option One Mortgage Corporation.
Sample 1
Option One Mortgage Loans. The Mortgage Loans purchased by the Seller pursuant to the Option One Sale and Servicing Agreement or any Eligible Substitute Mortgage Loans, substituted therefor.
Sample 1
Option One Mortgage Loans. Those Mortgage Loans serviced by Option One pursuant to the terms of this Agreement as specified on the Mortgage Loan Schedule. Option One Servicing Fee Rate: 0.30% per annum with respect to the initial ten Due Periods, 0.40% per annum with respect to the eleventh through the thirtieth Due periods and 0.65% per annum for any Due Period thereafter.
Sample 1
Option One Mortgage Loans. The Mortgage Loans for which Option One is identified as "originator" on the Mortgage Loan Schedule.
Sample 1
Option One Mortgage Loans. Those Mortgage Loans serviced by Option One pursuant to the terms of this Agreement as specified on the Mortgage Loan Schedule.
Sample 1

Related to Option One Mortgage Loans

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

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

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

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

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

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

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

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

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

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

  • 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.

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

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

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

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

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

  • 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.

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.

  • 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.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Initial Mortgage Loans The Mortgage Loans included in the Trust as of the Closing Date.