Prime Mortgage Loan definition

Prime Mortgage Loan has the meaning set forth in Exhibit H.

Prime Mortgage Loan means a mortgage loan that generally conforms to GSE underwriting guidelines or is a non-QM loan with a FICO score generally above 700.

Prime Mortgage Loan means a Mortgage Loan with an LTV of less than or equal to 80% whose Mortgagor has (i) a FICO score of 700 or greater and (ii) a debt-to-income ratio less than or equal to 43%.

Examples of Prime Mortgage Loan in a sentence

• Borrower agrees to have a Lock in its possession related to each Eligible Prime Mortgage Loan to be originated or acquired hereunder, and to comply with all Qualified Investor requirements in order to maintain each such Lock in full force until the Purchase Date.

• Any Prime Mortgage Loan or Alt-A Mortgage Loan that had at the time of origination an LTV in excess of 100% is insured as to payment defaults by a PMI Policy.

• Definition: A First Mortgage Loan that is not a Prime Mortgage Loan, which has a risk rating of "A-", "B" or "C" (determined using underwriting standards which comply with industry standards in the sole judgement of the Lender), which is made to a mortgagor with a FICO Score of no less than 500, and which is acceptable for purchase by at least two Investors.

• Definition: A First Mortgage Loan that is not a Prime Mortgage Loan, which has a risk rating of "A-", "B" or "C" (determined using under-writing standards which comply with industry standards in the sole judgment of the Lender), which is made to a mortgagor with a FICO Score of no less than 500, and which is acceptable for purchase by at least two Investors.

• No Jumbo Mortgage Loan or Sub- Prime Mortgage Loan has an LTV ("loan-to-value" ratio) in excess of 95%.

More Definitions of Prime Mortgage Loan

Prime Mortgage Loan. A Mortgage Loan made to Mortgagor with a prime credit rating as designated in the Underwriting Guidelines.

Prime Mortgage Loan means an "A" Credit Mortgage Loan (as defined in the Underwriting Guidelines) secured by a first mortgage lien on a one to four family residential property as to which the representations and warranties set forth on Schedule 1 hereof are true and correct.

Prime Mortgage Loan means (i) a First Mortgage Loan (including, without limitation, a HELOC), (ii) a Second Mortgage Loan (including, without limitation, a HELOC, but excluding a Second Mortgage Loan secured by a Manufactured Home or a Co-op Loan), or (iii) an Alt-A Mortgage Loan, with respect to which Mortgage Loan each of the following is accurate and complete:

Prime Mortgage Loan. Each individual first lien one to four family residential mortgage loan that meets the underwriting criteria for the “Prime Full Doc” program as set forth in the PHH Guide as such program may be amended from time to time or any subsequent program in the PHH Guide that has substantially similar underwriting criteria.

Prime Mortgage Loan. The individual Mortgage Loan(s) set forth on the attached Exhibit “A-l” to this First Amendment which may be amended from time to time with the mutual consent of both parties.

Prime Mortgage Loan has the meaning set forth in EXHIBIT H.

Prime Mortgage Loan means, any Conforming Mortgage Loan or Jumbo Mortgage Loan.