PCF Pooled Mortgage Loan definition

PCF Pooled Mortgage Loan. Any Pooled Mortgage Loan that is either an Original PCF Pooled Mortgage Loan or a Replacement Pooled Mortgage Loan that was delivered under the PCF Pooled Mortgage Loan Purchase Agreement in substitution for an Original PCF Pooled Mortgage Loan.
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Examples of PCF Pooled Mortgage Loan in a sentence

  • Upon a PCF Pooled Mortgage Loan becoming a Specially Serviced Mortgage Loan, the Primary Servicer shall present or draw on the Letter of Credit solely as directed by the Special Servicer, and for the limited and sole purpose of so presenting, drawing or taking other action on the Letter of Credit at the direction of the Special Servicer, shall act as the Special Servicer's agent.

  • Upon a PCF Pooled Mortgage Loan or PCFII Pooled Mortgage Loan becoming a Specially Serviced Mortgage Loan, the Primary Servicer shall present or draw on the Letter of Credit solely as directed by the General Special Servicer, and for the limited and sole purpose of so presenting, drawing or taking other action on the Letter of Credit at the direction of the General Special Servicer, shall act as the Special Servicer's agent.

  • Upon a PCF Pooled Mortgage Loan becoming a Specially Serviced Mortgage Loan, the Primary Servicer shall present or draw the Letter of Credit solely as directed by the General Special Servicer, and for the limited and sole purpose of so presenting, drawing or taking other action on the Letter of Credit at the direction of the General Special Servicer, shall act as the General Special Servicer's agent.

  • Upon a PCF Pooled Mortgage Loan or PCFII Pooled Mortgage Loan becoming a Specially Serviced Mortgage Loan, the Primary Servicer shall present or draw on the Letter of Credit solely as directed by the Special Servicer, and for the limited and sole purpose of so presenting, drawing or taking other action on the Letter of Credit at the direction of the Special Servicer, shall act as the Special Servicer's agent.

Related to PCF Pooled Mortgage Loan

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

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

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • 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.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • 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.

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

  • 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 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.

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

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

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

  • Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.

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

  • 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.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

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

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.

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