Repurchased Loan definition

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 means any Purchased Loan that has been repurchased by the applicable Seller pursuant to the terms hereof.

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.
Any reserve or other cash collateral or letters of credit securing the Repurchased Loan and the Cross-Collateralized Loans shall be allocated between such Mortgage Loans in accordance with the Mortgage Loan documents.
Upon receipt of such Repurchase Price, Purchaser shall transfer its interest in such repurchased Purchased Loan to Seller on an “AS-IS,” “WHERE-IS” basis, without any representations or warranties other than with respect to Purchaser’s clear and marketable title to such Repurchased Loan.
At the request of the Seller and to the extent assignable to HUD, the Purchaser, in its capacity as servicer, shall assign any such HMBS Repurchased Loan to HUD and forward any claim proceeds received from HUD for such HMBS Repurchased Loan to the Seller pursuant to the terms of the Subservicing Agreement.
Penal Code § 270.1 (2010) (up to one year incarceration for failing to reasonably supervise and encourage the pupil’s attendance even after being offered support services to address truancy); Colo.

Repurchased Loan. Defined in Section 2.4.

Repurchased Loan means any Purchased Loan that has been repurchased by 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 the 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 or an Affiliate of 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 has the meaning set forth in Section 2.6(d).

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.