Seasoned Mortgage Loan definition

Seasoned Mortgage Loan means, as of any date, a Mortgage Loan with a Mortgage Origination Date that is more than 180 days prior to such date.

Seasoned Mortgage Loan means any Mortgage Loan that is not a New Origination Mortgage Loan and is a Non-Performing Mortgage Loan or Re-Performing Mortgage Loan.

Seasoned Mortgage Loan means a Mortgage Loan that was purchased by Seller in the secondary market as a seasoned loan and that was originated more than twelve (12) months prior to the Purchase Date for such Mortgage Loan.

Examples of Seasoned Mortgage Loan in a sentence

• Seasoned Mortgage Loan An amount equal to the lesser of Advance Rate: (i) 85% of the Mortgage Note Amount of the related Seasoned Mortgage Loan or (ii) 90% of the BPO Value of the improved real property securing the Seasoned Mortgage Loan.

• Seasoned Mortgage Loan Advance An amount equal to the lesser Rate: of (i) 85% of the Mortgage Note Amount of the related Seasoned Mortgage Loan or (ii) 90% of the BPO Value of the improved real property securing the Seasoned Mortgage Loan.

• Other than with regard to any Eligible Delinquent Loan or Seasoned Mortgage Loan, the origination date is no more than twenty-four (24) months prior to the related Purchase Date.

• If a Mortgage Loan is an Unseasoned ---------------- Mortgage Loan, it has been originated within three months prior to the related Funding Date, and if a Mortgage Loan is a Defaulted Mortgaged Loan or a Seasoned Mortgage Loan, it has been originated within twelve (12) months prior to the related Funding Date.

• The related Mortgage File for each Subsequent Mortgage Loan and Seasoned Mortgage Loan, as applicable, shall be delivered to the Indenture Trustee at least three (3) Business Days prior to the related Subsequent Transfer Date.

More Definitions of Seasoned Mortgage Loan

Seasoned Mortgage Loan means a first lien, one-to-four-family residential Mortgage Loan with respect to which the first payment date for such non-performing Mortgage Loan occurred more than twenty-four (24) months prior to any date of determination.

Seasoned Mortgage Loan has the meaning set forth in Exhibit M.

Seasoned Mortgage Loan means a Dry Mortgage Loan (other than a Delinquent Mortgage Loan) which does not meet the criteria set forth in the definition of Maximum Time on Facility for any other Mortgage Loan other than clause (iii).

Seasoned Mortgage Loan means, as of any date of determination, an ---------------------- Eligible Mortgage Loan which has been originated 121 days or more prior to the related Funding Date, but not more than 365 days prior to the related Funding Date.

Seasoned Mortgage Loan means, as of any date of determination, an Eligible Mortgage Loan which has been originated 121 days or more prior to the related Funding Date but not more than 365 days prior to the related Funding Date.

Seasoned Mortgage Loan means a First Mortgage Loan which was closed ---------------------- more than 90 days prior to the date of the requested Advance, which Mortgage Loan shall not (A) have a colorable claim of fraud made by any Person involved in the origination, servicing or sale of such Mortgage Loan, (B) be in the process of foreclosure, or (C) have a loan to value ratio of greater than 90%.

Seasoned Mortgage Loan has the meaning set forth in Exhibit H. "Second Mortgage" means a Mortgage that constitutes a second Lien on the real property and improvements described in or covered by that Mortgage. "Second Mortgage Loan" means a Mortgage Loan secured by a Second Mortgage. "Security Agreement" means a security agreement or other agreement that creates a Lien on personal property, including furniture, fixtures and equipment, to secure repayment of a Mortgage Loan. "Servicing Contract" means, with respect to any Person, the arrangement, whether or not in writing, under which that Person has the right to service Mortgage Loans. "Servicing Portfolio" means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements. "Servicing Portfolio Report" has the meaning set forth in Section 7.3(a). "Single Family Mortgage Loan" means a Mortgage Loan secured by a Mortgage on improved real property on which is located a 1-to-4 family residence. "Standard Warehouse Period" means, for any Mortgage Loan, the maximum number of days a Warehousing Advance against that type of Mortgage Loan, other than against an Aged Mortgage Loan, may remain outstanding, as set forth in Exhibit H. "Statement Date" means the Audited Statement Date or the Interim Statement Date, as applicable. "Sublimit" means the aggregate amount of Warehousing Advances (expressed as a dollar amount or as a percentage of the Warehousing Commitment Amount) that is permitted to be outstanding at any one time against a specific type of Eligible Loan. "Sublimit Note" has the meaning set forth in Section 1.3. "Subordinated Debt" means all indebtedness of Borrower for borrowed money that is effectively subordinated in right of payment to all present and future Obligations either (1) under a Subordination of Debt Agreement on the form prescribed by Lender or (2) otherwise on terms acceptable to Lender. "Subprime Mortgage Loan" has the meaning set forth in Exhibit H. "Subsidiary" means any corporation, partnership, association or other business entity in which more than 50% of the shares of stock or other ownership interests having voting power for the election of directors, managers, trustees or other Persons performing similar functions is at the