Repurchased Loan has the meaning set forth in Section 2.3(a).
Repurchased Loan means a Loan with respect to which payment is required to be made by the Seller, the Servicer or Credit Acceptance in accordance with Section 3.02 or Section 4.07 hereof or Section 6.1 of the Sale and Contribution Agreement, as applicable.
Repurchased Loan. Defined in Section 2.4.
Examples of Repurchased Loan in a sentence
If the Servicer shall commence a legal proceeding to enforce a Loan or a Contract, the Trust Collateral Agent (in the case of a Loan other than a Repurchased Loan) shall thereupon be deemed to have automatically assigned, solely for the purpose of collection, such Loan or Contract to the Servicer.
More Definitions of Repurchased Loan
Repurchased Loan means any Purchased Loan that has been repurchased by Seller pursuant to the terms hereof.
Repurchased Loan means any Purchased Loan that has been repurchased by the applicable Seller pursuant to the terms hereof.
Repurchased Loan means a Single-family Mortgage owned by a Company and Pledged to the Agent, none of the makers or mortgagors of which is an Affiliate of the Company or a corporation, partnership or any other entity that is not a natural person or a trust for natural persons, and that was originated or purchased by the Company, sold to an investor (either as a Whole Loan or as part of a pool of securitized Mortgage Loans) and subsequently repurchased by the Company due to underwriting errors, delinquencies or breach of representations or warranties made in connection with such sale.
Repurchased Loan. Any Loan that has been repurchased pursuant to clause (ii) of the fourth sentence of Section 3.5(a).
Repurchased Loan means a Single-family Mortgage Loan owned by a Borrower and Pledged to the Lender, none of the makers or mortgagors of which is an Affiliate of either Borrower or a corporation, partnership or any other entity that is not a natural person or a trust for natural persons, and that was originated or purchased by a Borrower, sold to an investor (either as a Whole Loan or as part of a pool of securitized Mortgage Loans) and subsequently repurchased by such Borrower due to underwriting errors, delinquencies or breach of representations or warranties made in connection with such sale.
Repurchased Loan means a Mortgage Loan (a) which is repurchased by Seller as a result of a breach of representations and warranties made by Seller under the agreed upon terms in which the claimed breach is not a result of fraud or material misrepresentation of fact by any party to the Mortgage Loan (unless otherwise approved by Buyer in writing) or consumer credit law violation, (b) where the claimed breach is expressly identified to Buyer in writing and (c) which is subject to a Transaction hereunder for no more than 270 days. In no event will a Repurchased Loan be subject to a Transaction hereunder as a “Repurchased Loan” if (i) there is a breach of representation and warranty in respect of such Repurchased Loan other than the breach identified in writing to the Buyer pursuant to subclause (b) of this definition or (ii) the related Mortgaged Property has been foreclosed upon or has been converted to REO Property.
Repurchased Loan means a Loan repurchased by Mortgage Company from Horizon Bank pursuant to the provisions of section 3 of this Agreement.