PO Percentage definition

PO Percentage. As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the excess of the Required Coupon over the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is such Required Coupon. As to any Non-Discount Mortgage Loan, 0%.

PO Percentage. As to any Discount Mortgage Loan, 100% minus the Non-PO Percentage for such Mortgage Loan. As to any Mortgage Loan that is not a Discount Mortgage Loan, 0%.

PO Percentage. The PO Percentage with respect to each Mortgage Loan as identified on the Mortgage Loan Schedule, such percentage being equal to the fraction, expressed as a percentage (but not less than 0%), the numerator of which equals the excess of the Remittance Rate over the applicable Net Mortgage Rate and the denominator of which equals the Remittance Rate.

Examples of PO Percentage in a sentence

• The principal portion of any Excess Losses shall be allocated among all Classes of Certificates on a pro rata basis; provided, however, that the applicable PO Percentage of any Excess Losses on the Discount Mortgage Loans shall be allocated to Class A-P Certificates.

• For purposes of the preceding sentence, any Class PO Deferred Amount distributed to a Class PO Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the applicable PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).

• In the case of a Discount Loan and any date (i) the Scheduled Principal Balance of such Discount Loan for such date multiplied by (ii) the PO Percentage for such Discount Loan.

• The principal portion of any Excess Losses shall be allocated among all Classes of Certificates on a pro rata basis; provided, however, that the applicable PO Percentage of any Excess Losses on the Discount Mortgage Loans shall be allocated to the Class A-P Certificates.

• For purposes of the preceding sentence, any Class PO Deferred Amount distributable to a Principal Only Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the applicable PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).

More Definitions of PO Percentage

PO Percentage. With respect to Loan Group II and any related Discount Mortgage Loan a fraction, expressed as a percentage, equal to 5.315% per annum minus the Net Mortgage Rate thereof divided by 5.315% per annum.

PO Percentage. Not applicable.

PO Percentage. (a) With respect to Pool I, the Class I-A-PO Percentage, and (b) with respect to Pool II, the Class II-A-PO Percentage.

PO Percentage. With respect to any Discount Mortgage Loan in Loan Group I, a fraction expressed as a percentage, (x) the numerator of which is equal to 6.00% minus the related Net Mortgage Rate, and (y) the denominator of which is equal to 6.00% per annum. With respect to any Discount Mortgage Loan in Loan Group II, a fraction expressed as a percentage, (x) the numerator of which is equal to 6.00% minus the related Net Mortgage Rate, and (y) the denominator of which is equal to 6.00% per annum.

PO Percentage. With respect to any Discount Mortgage Loan (a) the excess of 6.37% over the related Net Mortgage Rate (b) divided by 6.37%; and with respect to any Non-Discount Mortgage Loan, 0%.

PO Percentage. With respect to any Discount Mortgage Loan in Pool I, the fraction, expressed as a percentage, equal to the positive excess, if any, of (i) the related Designated Mortgage Pool Rate, over (ii) the Adjusted Net Mortgage Rate, divided by (iii) 5.50%, and (b) with respect to any Non-Discount Mortgage Loan, 0%.

PO Percentage. With respect to each Discount Mortgage Loan in Mortgage Pool I, a fraction, expressed as a percentage (but not less than 0%), the numerator of which will equal the excess, if any, of 5.00% over the applicable Net Mortgage Rate, and the denominator of which will equal 5.00%.