Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Manufactured Home Loan,” “Graduated Payment Loan,” “Buydown Loan,” “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan.
Restricted Mortgage Loan. A Mortgage Loan that as of the Closing Date was 60 or more days contractually delinquent.
Restricted Mortgage Loan. A Mortgage Loan that as of the Closing Date was 90 or more days contractually delinquent. As of the date hereof, there are no Restricted Mortgage Loans in any Mortgage Loan Group.
Examples of Restricted Mortgage Loan in a sentence
In lieu of foreclosure, any Restricted Mortgage Loan shall be repurchased or substituted in accordance with and subject to the limitations contained in Section 2.05.
Neither the Trust nor the Trustee on behalf of the Trust shall complete foreclosure proceedings with respect to any Restricted Mortgage Loan.
These restrictions will be lifted with respect to a Foreclosure Restricted Mortgage Loan if such Mortgage Loan becomes current for three consecutive Monthly Payments.
Instead, such Servicer shall dispose of the Foreclosure Restricted Mortgage Loan for cash in a foreclosure sale.
For purposes of this Section 3.12, any Mortgage Loan transferred to the Trust Fund after the Closing Date that is more than 59 days Delinquent as of the day of such transfer will also be a Foreclosure Restricted Mortgage Loan.
More Definitions of Restricted Mortgage Loan
Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Manufactured Home Loan,” “Graduated Payment Loan,” “Buydown Loan,” “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, (iv) a High Cost Mortgage Loan, (v) a Mortgage Loan that could result in Negative Amortization or (vi) a Mortgage Loan that was not underwritten and originated with full documentation.
Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Graduated Payment Loan,” “Buydown Loan,” “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, (iv) a High Cost Mortgage Loan, (v) a Mortgage Loan that could result in Negative Amortization or (vi) a Special Loan.
Restricted Mortgage Loan. As defined in Section 3.06.
Restricted Mortgage Loan means a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date.
Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Manufactured Home Loan,” “Graduated Payment Loan,” “Buydown Loan” (other than an Agency Buydown Loan),” “Manufactured Housing Loan” (other than an Approved Manufactured Home Loan”) “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan.
Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Manufactured Home Loan,” “Graduated Payment Loan,” “Buydown Loan” (other than an Agency Buydown Loan),” “Manufactured Housing Loan” (other than an Approved Manufactured Home Loan”) “Project Loan,” “Construction Loan” ([***]) or “HECM Loan,” each as defined in the applicable Agency Guide, (ii) a 30+ Day Delinquent Mortgage Loan, (iii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, or (iv) a High Cost Mortgage Loan.
Restricted Mortgage Loan means (i) a “Growing Equity Loan,” “Graduated Payment Loan,” “Buydown Loan,” “Project Loan,” “Construction Loan” or “HECM Loan,” each as defined in the Xxxxxx Mae Guide, (ii) a Mortgage Loan for which the related Escrow Payments have not been made by the next succeeding Due Date, (iii) a High Cost Mortgage Loan, (iv) a Mortgage Loan that could result in Negative Amortization, (v) a Special Loan, or (vi) a Mortgage Loan that was not underwritten and originated with full documentation.