Retained Mortgage Loans definition

Retained Mortgage Loans has the meaning set forth in Section 4.01(a).
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Retained Mortgage Loans and the entire group of Retained Mortgage Loans shall constitute the “Retained Portfolio”. The Replacement Portfolio, on the one hand, and the Retained Portfolio, on the other, shall have the following characteristics:
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Examples of Retained Mortgage Loans in a sentence

  • Any repurchase of a Servicing Retained Mortgage Loan(s) pursuant to the foregoing provisions of this Subsection 7.03 shall occur on a date designated by the Purchaser and shall be accomplished by deposit in the Custodial Account of the amount of the Repurchase Price for distribution to the Purchaser on the next scheduled Distribution Date.

  • Seller shall notify Purchaser by the end of the same Business Day of its final determination to (a) retain Retained Mortgage Loans and (b) pay or receive the related Pair-Off Amount.

  • The New Mortgage Loans where the related Servicing Rights are so transferred and conveyed shall constitute “Replacement Mortgage Loans”; the entire group of Replacement Mortgage Loans shall constitute the “Replacement Portfolio”; the New Mortgage Loans where the related Servicing Rights are not so transferred and conveyed shall constitute “Retained Mortgage Loans”; and the entire group of Retained Mortgage Loans shall constitute the “Retained Portfolio”.

  • Pair-Off Amounts with respect to Retained Mortgage Loans shall be paid by Seller or Purchaser, as applicable, on the scheduled settlement date in the related calendar month for the respective type of mortgage-backed security (GNMA, Xxxxxx Xxx, Xxxxxxx Xxx or Uniform Mortgage-Backed Security), unless Seller and Purchaser agree to a different date.

  • The contents of each Servicing File required to be retained by the related Servicer to service the Mortgage Loans pursuant to the related Interim Servicing Agreement (with respect to Servicing Released Mortgage Loans) or the related Servicing Agreement (with respect to Servicing Retained Mortgage Loans) and thus not delivered to the Purchaser are and shall be held in trust by the related Servicer for the benefit of Purchaser as the owner thereof.

  • The Servicing Retained Master Servicer shall supervise, monitor and oversee the obligation of the Underlying Servicers to service and administer their respective Servicing Retained Mortgage Loans in accordance with the terms of the applicable Underlying Servicing Agreements and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration.

  • Pair-Off Amounts with respect to Retained Mortgage Loans shall be paid by Seller or Purchaser, as applicable, on the scheduled settlement date in the related calendar month for the respective type of mortgage-backed security (GNMA, Xxxxxx Mae, Xxxxxxx Mac or Uniform Mortgage-Backed Security), unless Seller and Purchaser agree to a different date.

  • In connection with the Servicing Retained Mortgage Loans, the Purchaser may terminate the Seller as servicer pursuant to this Section 15 without cause if the Purchaser pays to the Seller a termination fee based on the fair market value of the related servicing rights as mutually agreed to between the Seller and the Purchaser.

  • The Seller, as independent contract servicer, shall service and administer the Servicing Retained Mortgage Loans in accordance with this Agreement and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which the Seller may deem necessary or desirable and consistent with the terms of this Agreement.

  • Such enforcement, including, without limitation, the legal prosecution of claims, termination of Underlying Servicing Agreements and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Servicing Retained Master Servicer, in its good faith business judgment, would require were it the owner of the related Servicing Retained Mortgage Loans.

Related to Retained Mortgage Loans

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Retained Mortgage Loan File A file for each Mortgage Loan maintained by the Servicer prior to any Document Transfer Date and by the Custodian after any Document Transfer Date that contains the documents specified in Section 2.01(b) of the Pooling and Servicing Agreement and any additional documents required to be added to the Retained Mortgage Loan File pursuant to the Pooling and Servicing Agreement.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

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

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

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

  • Retained Mortgage File With respect to each Mortgage Loan, the file consisting of the Mortgage Loan Documents listed as items 6 through 12 of Exhibit C attached hereto. Securities Act: The Securities Act of 1933, as amended.

  • Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • MERS Designated Mortgage Loan Mortgage Loans for which (a) the Seller has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Seller, in accordance with MERS Procedures Manual and (b) the Seller has designated or will designate the Purchaser as the Investor on the MERS System.

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

  • Nonsubserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Registered mortgage loan originator means any individual who:

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.