Residential First Mortgage Collateral definition

Residential First Mortgage Collateral means all notes, bonds, instruments, mortgages, deeds of trust, deeds to secure debt, security agreements, policies and certificates of insurance or guarantees, evidences of recordation, applications, underwriting materials, surveys, appraisals, approvals, permits, notices, opinions of counsel and loan servicing data and all other electronically stored and written records or materials relating to fully-disbursed loans held by any Obligor secured by a first lien on one-to-four unit single family dwellings, together with all rights and interests associated with such loans and documents, including all legal, beneficial, residual and servicing rights, and any endorsements or assignments thereof.
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Residential First Mortgage Collateral. Multifamily Mortgage Collateral Commercial Mortgage Collateral HELOC/Second Mortgage Collateral • Loans that do not conform to the Bank’s Guidelines to Promote Responsible Lending (see Collateral Frequently Asked Eligibility Questions document) • Loans that do not have the Standard Flood Hazard Determination Form and/or do not meet Bank minimum flood insurance requirements9 • Subprime and nontraditional loans originated on or after 7/10/2007 that do not have documentation to support adequate mitigating factors. • Loans with PACE liens • Loans with unrecorded mortgages or mortgage modifications greater than 12 months from origination • Loans with a Power of Attorney not recorded as required by applicable state law • Loans secured by manufactured housing missing documentation evidencing conversion from personal to real property • Loans secured by a security instrument containing private transfer fee covenants13 • Loans relying on the value of a 1-4 unit home and acreage > 15 acres in order to meet FHLBank’s loan-to-value requirements (or missing comps for acreage > 5 acres and ≤ 15 acres). • Loans missing a signed borrowing resolution if the borrower is a corporation, partnership, LLC, etc. • Loans guaranteed by any entity that does not give the Bank control over the collateral in the event of default (SBA, USDA, etc.)10 • Loans on certain leasehold interests6 • Loans that are cross-collateralized with other loans not pledged to FHLBank Atlanta • Loans that do not have the Standard Flood Hazard Determination Form and/or do not meet Bank minimum flood insurance requirements9 • Loans with unrecorded mortgages or mortgage modifications greater than 12 months from origination • Loans with a Power of Attorney not recorded as required by applicable state law • Loans with PACE liens • Loans secured by a security instrument containing private transfer fee covenants13 • Loans missing a signed borrowers’ resolution if the borrower is a corporation, partnership, LLC, etc. • Loans guaranteed by any entity that does not give the Bank control over the collateral in the event of default (SBA, USDA, etc.)10 • Loans on certain leasehold interests6 • Loans that are cross-collateralized with other loans not pledged to the Bank • Loans that do not have the Standard Flood Hazard Determination Form and/or do not meet Bank minimum flood insurance requirements9 • Loans with unrecorded mortgages or mortgage modifications greater than 12 months from origination • Loans with a Power o...
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Examples of Residential First Mortgage Collateral in a sentence

  • Qualifying Collateral includes the following types of whole mortgage loans: Residential First Mortgage Collateral, Multifamily Mortgage Collateral, Home Equity Lines of Credit (HELOCs) and Second Mortgage Collateral, and Commercial Mortgage Collateral.

Related to Residential First Mortgage Collateral

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Residential mortgage loan means any loan primarily for

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Facility Mortgage As defined in Section 13.1.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • REAL ESTATE MORTGAGE INVESTMENT CONDUIT (A "REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). [FOR SUBORDINATE CERTIFICATES][THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE SAME SERIES AS AND TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.] [FOR PRINCIPAL BALANCE CERTIFICATES][THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.] [FOR CLASS X-1 AND CLASS X-2 CERTIFICATES][THE OUTSTANDING CERTIFICATE NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE. THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL.] [FOR REGULATION S GLOBAL CERTIFICATES][PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (A) THE CLOSING DATE AND (B) THE COMMENCEMENT OF THE INITIAL OFFERING OF THE CERTIFICATES IN RELIANCE ON REGULATION S, THIS CERTIFICATE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED. NO BENEFICIAL OWNERS OF THIS CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • Purchase Agreement Collateral has the meaning specified in Section 6.9 of this Agreement.