Purchased Mortgage Loan definition

Purchased Mortgage Loan. A Mortgage Loan that has been purchased by Buyer from Seller in connection with a Transaction and which has not been repurchased by Seller hereunder.

Purchased Mortgage Loan means each Mortgage Loan sold by Seller to Buyer in a Transaction, as reflected in the EverBank Warehouse Electronic System and as evidenced by the Daily Activity Report, until repurchased by Seller in accordance with the terms hereof.

Purchased Mortgage Loan means each Mortgage Loan sold by Seller to Buyer in a Transaction, as reflected in the Confirmation, and which has not been repurchased by Seller hereunder.

Examples of Purchased Mortgage Loan in a sentence

• Such Purchased Mortgage Loan and all accompanying collateral documents are complete and authentic and all signatures thereon are genuine.

• No collateral (including, without limitation, the related real property and the dwellings thereon and otherwise) relating to a Purchased Mortgage Loan is located in any jurisdiction other than in one of the fifty (50) states of the United States of America or the District of Columbia.

• Such Purchased Mortgage Loan arose from a bona fide loan, complying with all applicable State and Federal laws and regulations, to persons having legal capacity to contract and is not subject to any defense, set-off or counterclaim.

• Such obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Mortgage Loan (but liquidation or foreclosure proceeds received by Buyer shall be applied to reduce the Repurchase Price for such Purchased Mortgage Loan on each Price Differential Payment Date except as otherwise provided herein).

• If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer.

More Definitions of Purchased Mortgage Loan

Purchased Mortgage Loan means any reference to any Eligible Mortgage Loan that is purchased by Buyer and listed on the Asset Schedule attached to the related Transaction Notice (as Appendix I or otherwise), including the related Mortgage File for which the Custodian has been instructed to hold pursuant to the Custodial Agreement.

Purchased Mortgage Loan means a Mortgage Loan sold by Seller to Purchaser in a Transaction hereunder and not yet repurchased by Seller.

Purchased Mortgage Loan means a Mortgage Loan included in the Purchased Mortgage Assets.

Purchased Mortgage Loan. A Mortgage Loan that has been purchased by Buyer from Seller in connection with a Transaction and which has not been repurchased by Seller hereunder. QM Rule: 12 CFR 1026.43(e), including all applicable official staff commentary.

Purchased Mortgage Loan means each Mortgage Loan, and/or any other evidence of ownership of a Mortgage Loan mutually agreed upon by the Buyer and the Sellers and identified to the Custodian transferred or caused to be transferred by the Sellers to the Buyer or its designee (including the Custodian) in a Transaction under the Repurchase Agreement and any Additional Purchased Mortgage Loans delivered pursuant to this Agreement.

Purchased Mortgage Loan means each Mortgage Loan (including any Additional Amounts) sold by Seller to Buyer in a Transaction, as reflected in the Confirmation, and which has not been repurchased by Seller hereunder. “Purchase Price” shall have the meaning set forth in the Pricing Letter. “Purchase Price Percentage” shall have the meaning set forth in the Pricing Letter. “Records” shall mean all instruments, agreements and other books, records, reports and data generated by other media for the storage of information maintained by Seller or any other person or entity with respect to a Purchased Mortgage Loan. Records shall include the Mortgage Notes, any Mortgages, the Mortgage Files, the Credit Files related to the Purchased Mortgage Loan and any other instruments necessary to document or service a Mortgage Loan. “Register” shall have the meaning set forth in Section 19(b) of the Agreement. “Regulations T, U and X” shall mean Regulations T, U and X of the Board of Governors of the Federal Reserve System (or any successor), as the same may be modified and supplemented and in effect from time to time. “Related Purchased Mortgage Loans” shall have the meaning provided in Section 8(a) of the Agreement. “Repurchase Date” shall mean the earliest of (i) any Business Day specified by Seller for the repurchase of the Purchased Mortgage Loans subject to a Transaction from Buyer, (ii) the date agreed upon periodically by Buyer and Seller, which date shall be no later than the Business Day on which the deposit of related sale, liquidation or securitization proceeds into the Collection Account for such Purchased Mortgage Loan, (iii) the Termination Date, (iv) the date such Mortgage Loan is no longer an Eligible Mortgage Loan, (v) any date determined by application of the provisions of Section 3(e) or 14 or (vi) with respect to any individual Purchased Mortgage Loan that is a HomeSafe Standard, a HomeSafe Select or a HomeSafe Flex, the day that is [*] from the initial Purchase Date applicable to such Transaction. “Repurchase Price” shall mean the price at which Purchased Mortgage Loans (including any Additional Amounts purchased by Buyer) are to be transferred from Buyer or its designee to Seller upon termination of a Transaction, which will be determined in each case (including Transactions terminable upon demand) as the sum of the Purchase Price and the Price Differential plus any fees, expenses and indemnity amounts, together with any other amount owed by Seller to Buyer, or any of Buyer’s a...

Purchased Mortgage Loan means a Mortgage Loan repurchased by the Initial Beneficial Holder pursuant to Section 2.2.