Subserviced Mortgage Loan definition

Subserviced Mortgage Loan. Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.
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Subserviced Mortgage Loan. Those Mortgage Loans referred to in the second WHEREAS clause in the preamble to this Agreement and listed on the Subserviced Mortgage Loan Schedule at Exhibit L hereto, but only during the period from the Closing Date until the Servicing Rights Transfer Date at which time Exhibit L will be superseded and all the Subserviced Mortgage Loans will be included on the Mortgage Loan Schedule at Exhibit A.
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Subserviced Mortgage Loan. Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement. [YOUN7950:~5.NY01B] 16069-00385 02/04/97 7:45pm 32
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Examples of Subserviced Mortgage Loan in a sentence

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

  • Servicing Fee The Servicing Fee for the Subserviced Mortgage Loans shall be the monthly fee set forth for each such Subserviced Mortgage Loan on Exhibit Two hereto.

  • Subservicer will keep records pertaining to each Subserviced Mortgage Loan and Mortgagor in such form and content as is necessary to fully satisfy the Applicable Servicing Requirements.

  • If any Mortgagor should make a payment under a Subserviced Mortgage Loan after the Effective Date to Servicer that should have been made to Subservicer, including but not limited to a full payoff or refinance of the Note, Servicer agrees to: (i) wire said payment to Subservicer the same Business Day if related to the payoff or refinance of a Subserviced Mortgage Loan and (ii) forward said payment to Subservicer within two (2) Business Days for all other payments under a Subserviced Mortgage Loan.

  • If directed by the Special Servicer and solely at the Special Servicer’s option, the Master Servicer or a Servicer other than WMMSC and First Nationwide (a “Transferring Servicer”) shall transfer the servicing of any Non-Designated Mortgage Loan (other than the WMMSC Serviced Mortgage Loans and First Nationwide Subserviced Mortgage Loans) or any Cendant Subserviced Mortgage Loan 90 days or more delinquent to the Special Servicer.

  • Upon the transfer of the servicing of any such Non-Designated Mortgage Loan or Cendant Subserviced Mortgage Loan to the Special Servicer, the Special Servicer shall be entitled to the Servicing Fee and other compensation accruing after the servicing transfer date with respect to such Non-Designated Mortgage Loans and Cendant Subserviced Mortgage Loans pursuant to Section 3.14.

  • Subservicer shall give Servicer or its authorized representative, including without limitation Servicer’s Regulators and any Agency or Investor, the opportunity at any time during its normal business hours and following reasonable prior written notice to examine Subservicer’s books and records related to the Subserviced Mortgage Loans (including, in the event of any Subserviced Mortgage Loan that is a second Mortgage Loan, any and all records pertaining to the first lien on such Mortgaged Property).

  • Subservicer shall promptly notify Servicer of a repurchase or indemnification request that Subservicer receives from any Investor or Insurer with respect to a Subserviced Mortgage Loan.

Related to Subserviced Mortgage Loan

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

  • 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.

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

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

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

  • Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.

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

  • Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.

  • 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.

  • 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.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

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

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

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • 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.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • 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.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.