Streamlined Mortgage Loan definition
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.
Streamlined Mortgage Loan means an FHA Loan originated in accordance with FHA’s streamlined mortgage loan refinance program as set forth in FHA’s Underwriting Guidelines.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Senior Subordinate Certificates and Junior Subordinate Certificates. Subordinate Regular Interests: The Senior Subordinate Regular Interests and Junior Subordinate Regular Interests.
More Definitions of Streamlined Mortgage Loan
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. Subcontractor: Any vendor, subcontractor or other Person that is not responsible for the overall servicing of Mortgage Loans but performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of any Servicer (or a Sub-Servicer of any Servicer), the Master Servicer or the Trust Administrator.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Group L-B, Group 3-B and Group M-B Certificates.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Group L-B, Group 3-B and Group 4-B Certificates. Subordinate Component Balance: With respect to Loan Group 1 for any date of determination, the excess, if any, of the then outstanding aggregate Principal Balance of the Group 1 Loans over the then outstanding aggregate Class Principal Balance of the Group 1-A and Residual Certificates. With respect to Loan Group 2 for any date of determination, the excess, if any, of the then outstanding aggregate Principal Balance of the Group 2 Loans over the then outstanding aggregate Class Principal Balance of the Group 2-A Certificates.
Streamlined Mortgage Loan means a Mortgage Loan of the Corporation modified to require lower mortgage payments pursuant to action of the Corporation in December 1991.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Group L-B and Group 5-B Certificates. Subordinate Component Balance: For any Loan Group for any date of determination, the product of (i) the aggregate Class Principal Balance of the Group L-B Certificates and (ii) a fraction, (a) the numerator of which is equal to the excess, if any, of (x) the aggregate Principal Balance of the Mortgage Loans in that Loan Group over (y) the sum of the Class Principal Balances (or Component Principal Balances, if applicable) of the Class A and Class X Certificates (or Components thereof, if applicable) related to such Loan Group (and, in the case of Loan Group 1, the Class R Certificates) and (b) the denominator of which is equal to the sum of the amounts described in clause (a) calculated for each Loan Group. Subordinate Percentage: The Group 1 Subordinate Percentage, Group 2 Subordinate Percentage, Group 3 Subordinate Percentage, Group 4 Subordinate Percentage or Group 5 Subordinate Percentage, as applicable.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Group 1 Subordinate Certificates and Group L-B Certificates. Subordinate Component Balance: With respect to Loan Group 2 for any date of determination, the then outstanding aggregate Principal Balance of the Group 2 Loans minus the then outstanding aggregate Class Principal Balance of the Group 2-A Certificates. With respect to Loan Group 3 for any date of determination, the then outstanding aggregate Principal Balance of the Group 3 Loans minus the then outstanding aggregate Class Principal Balance of the Group 3-A Certificates. Subordinate Percentage: The Group 1 Subordinate Percentage, Group 2 Subordinate Percentage or Group 3 Subordinate Percentage, as applicable.
Streamlined Mortgage Loan. A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the streamlined loan documentation program then in effect of the originator of such Mortgage Loan. Subordinate Certificates: The Group 1-B and Group 2-B Certificates. Subordination Level: On any specified date, with respect to any Class of Group 1-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group 1-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 1 Certificates and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date. On any specified date, with respect to any Class of Group 2-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group 2-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 2 Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date.