PennyMac Property Preservation Program definition

PennyMac Property Preservation Program. The proprietary property preservation programs designed by PNMAC Capital Management, LLC to modify and enhance the value of Mortgage Loans or mitigate losses to Mortgage Loans, as amended from time to time, and presented to the Servicer by the program technology and other documentation administered and provided by PNMAC.
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PennyMac Property Preservation Program. The proprietary property preservation programs designed by PNMAC Capital Management, LLC to modify and enhance the value of Mortgage Loans or mitigate losses to Mortgage Loans, as amended from time to time, and presented to the Servicer by the program technology and other documentation administered and provided by the PennyMac REIT Manager. PennyMac REIT: PennyMac Mortgage Investment Trust, a Maryland real estate investment trust, or any successor thereto. PennyMac REIT Manager: PNMAC Capital Management, LLC, a Delaware limited liability company, or any successor thereto.
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Examples of PennyMac Property Preservation Program in a sentence

  • Unless in compliance with the PennyMac Property Preservation Program, the terms of any Non-Agency Mortgage Loan may only be modified, varied or forgiven with the prior written consent of the Owner while the Non-Agency Mortgage Loan remains outstanding.

  • Consistent with the terms of this Agreement, the PennyMac Property Preservation Program, and Accepted Servicing Practices, the Servicer may, with respect to a Non-Agency Mortgage Loan, (i) waive any late payment charge or, if applicable, any penalty interest, or (ii) extend the due dates for the Monthly Payments due on a Mortgage Note, or waive, in whole or in part, a Prepayment Penalty.

  • Consistent with the terms of this Servicing Agreement, the PennyMac Property Preservation Program, and Accepted Servicing Practices, the Servicer may (i) waive any late payment charge or, if applicable, any penalty interest, or (ii) extend the due dates for the Monthly Payments due on a Mortgage Note, or waive, in whole or in part, a Prepayment Penalty.

  • Unless in compliance with the PennyMac Property Preservation Program, the terms of any Mortgage Loan may only be modified, varied or forgiven with the prior written consent of the Owner while the Mortgage Loan remains outstanding.

  • Repayment Plan – Written agreement where the mortgagor must immediately make payments in addition to regular monthly payments to cure the delinquency Authority is granted pursuant to the PennyMac Property Preservation Program, and to Servicer to negotiate Repayment Plans where borrower must cure through full reinstatement within 6 months, including fees and costs.

  • If mortgage is subsequently foreclosed, prepaid claim amounts are deducted from final claim Authority is granted pursuant to the PennyMac Property Preservation Program, and authority is granted to Servicer to negotiate and accept Partial Claims subject to account being brought current; no associated pre-foreclosure sale, modification or repayment plan.

  • Discounted Payoff Authority is granted pursuant to the PennyMac Property Preservation Program.

  • Deed-in-Lieu – Borrower voluntarily deeds property to lender, avoiding foreclosure Authority is granted pursuant to the PennyMac Property Preservation Program, otherwise, Owner must approve deed-in-lieu requests on all transactions.

  • Written agreement to reduce or suspend payments up to 12 months Unless pursuant to the PennyMac Property Preservation Program, Owner approval is required.

  • Pre-foreclosure Sale – Borrower allowed to sell or refinance property to avoid foreclosure Authority is granted pursuant to the PennyMac Property Preservation Program, and authority is granted to Servicer to negotiate Pre-foreclosure Sales according to the Xxxxxx Mae Servicing Guide Part VII, Chapter 504.

Related to PennyMac Property Preservation Program

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

  • Collateral Management Agreement The agreement dated as of the Closing Date, between the Issuer and the Collateral Manager relating to the management of the Collateral Obligations and the other Assets by the Collateral Manager on behalf of the Issuer, as amended from time to time in accordance with the terms thereof.

  • Securitization Property means the property described in section 10j.

  • Transition Property means the property right created by a financing order, including without

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

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

  • Uniform Single Attestation Program for Mortgage Bankers The Uniform Single Attestation Program for Mortgage Bankers, as published by the Mortgage Bankers Association of America and effective with respect to fiscal periods ending on or after December 15, 1995.

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

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

  • Multifamily Property means a Property improved with, and from which at least 80% of the rental income is derived from, residential apartments, which may include a Property that is a part of a Mixed-Use Project.

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.

  • Residential mortgage loan means any loan primarily for

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.