Subprime Mortgage Loan definition

Subprime Mortgage Loan has the meaning set forth in Exhibit H.

Subprime Mortgage Loan means a residential mortgage loan that is either a nontraditional mortgage as defined in paragraph ST or a rate spread home loan as defined in paragraph UV.

Subprime Mortgage Loan. A first lien mortgage loan underwritten in accordance with Borrower’s underwriting guidelines for subprime mortgage loans, as same have been approved by Lender.

Examples of Subprime Mortgage Loan in a sentence

• The Mortgage Loan is a Conventional Conforming Mortgage Loan, Government Mortgage Loan, Jumbo Mortgage Loan, Super Jumbo Mortgage Loan, Expanded Criteria Mortgage Loan, Subprime Mortgage Loan, Closed-End Second Lien Mortgage Loan, HELOC Mortgage Loan or Nonperforming/Subperforming Mortgage Loan, as applicable.

• Prepayment penalties will be waived in connection with any payoff or refinancing (even if refinanced by a person not Affiliated with CFC) of a Qualifying Mortgage that is a Subprime Mortgage Loan or Pay Option ARM that (i) had a first payment due date between January 1, 2004 and December 31, 2007, (ii) was directly or indirectly held by CFC on June 30, 2008, and (iii) which at the time of the payoff or refinancing is held by CFC or any Affiliate.

• Each Mortgage Loan (other than a Subprime Mortgage Loan) with an LTV at origination in excess of 80% is and will be subject to a PMI Policy, issued by a Qualified Insurer, which insures that portion of the Mortgage Loan in excess of the portion of the Appraised Value of the Mortgaged Property required by Xxxxxx Mae.

• Each Mortgage Loan (other than a Subprime Mortgage Loan) with an LTV at origination in excess of 80% is and will be subject to a PMI Policy, issued by a Qualified Insurer, which insures that portion of the Mortgage Loan in excess of the portion of the Appraised Value of the Mortgaged Property required by the Underwriting Guidelines.

• The Mortgage Loan is a Subprime Mortgage Loan, Closed-End Second Lien Mortgage Loan or Nonperforming/Subperforming Mortgage Loan, as applicable.

More Definitions of Subprime Mortgage Loan

Subprime Mortgage Loan. Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan underwritten in accordance with Seller’s underwriting guidelines for subprime mortgage loans, as same have been approved by Buyer.

Subprime Mortgage Loan means a Mortgage Loan (a) originated in accordance with the Underwriting Guidelines for subprime Mortgage Loans; and (b) with a FICO score of at least 500 and no greater than 620.

Subprime Mortgage Loan means a Mortgage Loan with respect to which each of the following is accurate and complete:

Subprime Mortgage Loan means a Single-family Mortgage Loan that (a) is, in the reasonable judgment of the Lender, consistent in all respects with traditional standards imposed by whole loan purchasers, relevant rating agencies and pool insurers for classification as "B" or "C" or "D" Mortgage Loans; (b) has a maximum loan amount that does not exceed $350,000.00; (c) is secured by a First Mortgage or Second Mortgage; and (d) has a loan-to-collateral value ratio not greater than 100%.

Subprime Mortgage Loan. A Qualifying Mortgage which is rated "B", or "C" grade by the applicable Investor and, in any event, a loan that (i) does not conform with Fannie Mae or FHLMC underwriting standards and (ii) has a FICO score xxxxxng from 580 to 619. Subsidiary: Any corporation of which at least 50% of the voting stock is owned by the Company directly, or indirectly through one or more Subsidiaries. If the Company has no Subsidiaries, the provisions of this Agreement relating to Subsidiaries shall be inapplicable, without affecting the applicability of such provisions to the Company alone.

Subprime Mortgage Loan means a Mortgage Loan that, as of the date it is made, is not then eligible or, based upon the standards of eligibility in effect as of the Effective Date, would not have been eligible as of the Effective Date for sale to, , securitization with or insurance or guaranty by an Agency, FHA or VA by virtue of, among other reasons, the failure of the borrower to satisfy the applicable underwriting criteria.

Subprime Mortgage Loan means a Single-family Mortgage Loan that (a) is, in the reasonable judgment of the Lender, consistent in all respects with traditional standards imposed by whole loan purchasers, relevant rating agencies and pool insurers for classification as "A" to "D" Mortgage Loans, (b) has a maximum loan amount that does not exceed Three Hundred Fifty Thousand Dollars ($350,000.00), (c) is secured by a First Mortgage, and (d) has a combined loan-to-collateral value ratio not greater than 100% (ratio to be based upon all loans secured by the Mortgaged Property).