Unconfirmed Underwriting Defect definition

Unconfirmed Underwriting Defect means with respect to any Reference Obligation, the existence of the following, as determined by Freddie Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Guide (as modified by the terms of the related seller’s contract, including any related TOBs) with respect to such Reference Obligation, (ii) Freddie Mac determines that as of the origination date such Reference Obligation was secured by collateral that was inadequate or (iii) Freddie Mac determines that as of the origination date repayment in full on such Reference Obligation from the related Mortgagor could not be expected. For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case we determine to be an acceptable Reference Obligation, will not result in an Unconfirmed Underwriting Defect.
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Unconfirmed Underwriting Defect. With respect to any Reference Obligation, the existence of the following, as determined by Freddie Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Freddie Mac Single-Family Seller/Servicer Guide (as modified by the terms of the related seller’s contract, including any related terms of business (“TOBs”)) with respect to such Reference Obligation,
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Unconfirmed Underwriting Defect means with respect to any Reference Obligation, the existence of the following, as determined by Freddie Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Guide (as modified by the terms of the related seller’s contract, including any related TOBs) with respect to such Reference Obligation, (ii) Freddie Mac determines that as of
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Examples of Unconfirmed Underwriting Defect in a sentence

  • For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case Xxxxxxx Mac determines to be an acceptable Reference Obligation, will not result in an Unconfirmed Underwriting Defect.

  • For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case Freddie Mac determines to be an acceptable Reference Obligation, will not result in an Unconfirmed Underwriting Defect.

  • For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case we determine to be acceptable Reference Obligations, will not result in an Unconfirmed Underwriting Defect.

  • Servicing Practices Unconfirmed Underwriting Defect Underwriting Defect Unconfirmed Servicing Defect Minor Servicing DefectEach servicer is required to service the applicable Reference Obligations in accordance with Freddie Mac’s servicing guidelines, which may be revised from time to time, or negotiated terms of business (“TOBs”), which may amend, waive or otherwise alter certain terms of the Guide, with Freddie Mac retaining servicing control.

  • For an instance a team could be manually testing its work but as they mature they could have an environment that supports automatic testing.


More Definitions of Unconfirmed Underwriting Defect

Unconfirmed Underwriting Defect. With respect to any Reference Obligation, the existence of the following, as determined by Xxxxxxx Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Xxxxxxx Mac Single-Family Seller/Servicer Guide (as modified by the terms of the related seller’s contract, including any related terms of business (“TOBs”)) with respect to such Reference Obligation, (ii) Xxxxxxx Mac determines that as of the origination date such Reference Obligation is secured by collateral that was inadequate or (iii) Xxxxxxx Mac determines that as of the origination date repayment in full on such Reference Obligation from the related mortgagor could not be expected. For the avoidance of doubt, Reference Obligations with minor technical violations or missing documentation, which in each case we determine to be acceptable Reference Obligations, will not result in an Unconfirmed Underwriting Defect.
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Unconfirmed Underwriting Defect. With respect to any Reference Obligation, the existence of the following, as determined by Freddie Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Freddie Mac Single-Family Seller/Servicer Guide (as modified by the terms of the related seller’s contract, including any related terms of business (“TOBs”)) with respect to such Reference Obligation, (ii) Freddie Mac determines that as of the origination date such Reference Obligation is secured by collateral that was inadequate or (iii) Freddie Mac determines that as of the origination date repayment in full on such Reference Obligation from the related mortgagor could not be expected. For the avoidance of doubt, Reference Obligations with minor technical violations or missing documentation, which in each case we determine to be acceptable Reference Obligations, will not result in an Unconfirmed Underwriting Defect.
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Unconfirmed Underwriting Defect. With respect to any Reference Obligation, the existence of the following, as determined by Xxxxxxx Mac in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Xxxxxxx Mac Single-Family Seller/Servicer Guide (as modified by the terms of the related seller’s contract, including any related terms of business (“TOBs”)) with respect to such Reference Obligation, (ii) Xxxxxxx Mac determines that as of the origination date such Reference Obligation is secured by
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Unconfirmed Underwriting Defect means with respect to any Covered Obligation, the existence of the following, as determined by the Insured in its sole discretion: (i) there is a material violation of the underwriting guidelines and other requirements in the Guide (as modified by the terms of the related seller's contract, including any related TOBs) with respect to such Covered Obligation, (ii) as of the origination date such Covered Obligation was secured by collateral that was inadequate or (iii) as of the origination date repayment in full on such Covered Obligation from the related Mortgagor could not be expected. For the avoidance of doubt, any Covered Obligations with minor technical violations or missing documentation, which in each case the Insured determines to be an acceptable Covered Obligation, will not result in an Unconfirmed Underwriting Defect.
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Unconfirmed Underwriting Defect. With respect to any Reference Obligation, the existence of the following, as determined by Xxxxxxx Mac in its sole discretion: (i) there is a
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Unconfirmed Underwriting Defect means with respect to any Reference Obligation, the existence of the following, as determined by Freddie Mac in its sole discretion: (i) there is a material violation of the underwriting
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Related to Unconfirmed Underwriting Defect

  • Marketed Underwritten Shelf Take-Down has the meaning set forth in Section 2.02(e)(iii).

  • Approved Underwriter has the meaning set forth in Section 3(f) of this Agreement.

  • Issuer-Represented General Free Writing Prospectus means any Issuer-Represented Free Writing Prospectus that is intended for general distribution to prospective investors.

  • Lead Underwriter means, in respect of a syndicate of underwriters,

  • Credit Underwriter means the independent contractor under contract with the Corporation having the responsibility for providing Credit Underwriting services.

  • of a specified Person means a person who directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, such specified person;

  • Underwriter Free Writing Prospectus means a Free Writing Prospectus prepared by or on behalf of an Underwriter.

  • General Use Issuer Free Writing Prospectus means any Issuer Free Writing Prospectus that is intended for general distribution to prospective investors, as evidenced by its being so specified in Schedule B to this Agreement.

  • Ratings Free Writing Prospectus means the free writing prospectus setting forth the ratings on the Offered Notes identified in Schedule II.

  • Issuer General Use Free Writing Prospectus means any Issuer Free Writing Prospectus that is intended for general distribution to prospective investors (other than a “bona fide electronic road show,” as defined in Rule 433 (the “Bona Fide Electronic Road Show”)), as evidenced by its being specified in Schedule 2-B hereto.

  • General Use Free Writing Prospectus means any Issuer Free Writing Prospectus that is identified on Schedule A to this Agreement.

  • Investment Representation Letter As defined in Section 5.02(b).

  • Permitted Free Writing Prospectuses, as used herein, means the documents listed on Schedule B attached hereto and each “road show” (as defined in Rule 433 under the Act), if any, related to the offering of the Shares contemplated hereby that is a “written communication” (as defined in Rule 405 under the Act). The Underwriters have not offered or sold and will not offer or sell, without the Company’s consent, any Shares by means of any “free writing prospectus” (as defined in Rule 405 under the Act) that is required to be filed by the Underwriters with the Commission pursuant to Rule 433 under the Act, other than a Permitted Free Writing Prospectus.

  • Specified Person means a person who has:

  • Issuer General Free Writing Prospectus means any Issuer Free Writing Prospectus that is intended for general distribution to prospective investors, as evidenced by its being specified in Schedule II hereto.

  • Exempt commercial purchaser means any person purchasing commercial insurance that, at the time of placement, meets the following requirements:

  • Credit-sale contract means a written contract for the sale of grain pursuant to which the sale price is to be paid or may be paid more than thirty days after the delivery or release of the grain for sale and which contains the notice provided in subsection 7 of section 60-02.1-14. If a part of the sale price of a contract for the sale of grain is to be paid or may be paid more than thirty days after the delivery or release of the grain for sale, only such part of the contract is a credit-sale contract.

  • Limited Use Issuer Free Writing Prospectus means any Issuer Free Writing Prospectus that is not a General Use Issuer Free Writing Prospectus.

  • Issuer-Represented Free Writing Prospectus means any “issuer free writing prospectus,” as defined in Rule 433(h) of the Securities Act Regulations, relating to the Securities. The term does not include any writing exempted from the definition of prospectus pursuant to clause (a) of Section 2(a)(10) of the Securities Act, without regard to Rule 172 or Rule 173 of the Securities Act Regulations.

  • Covered Free Writing Prospectuses, as used herein, means (i) each “issuer free writing prospectus” (as defined in Rule 433(h)(1) under the Act), if any, relating to the Shares, which is not a Permitted Free Writing Prospectus and (ii) each Permitted Free Writing Prospectus.

  • Issuer-Represented Limited-Use Free Writing Prospectus means any Issuer-Represented Free Writing Prospectus that is not an Issuer-Represented General Free Writing Prospectus. The term Issuer-Represented Limited-Use Free Writing Prospectus also includes any “bona fide electronic road show,” as defined in Rule 433 under the Securities Act, that is made available without restriction pursuant to Rule 433(d)(8)(ii), even though not required to be filed with the Commission.

  • Limited Use Free Writing Prospectuses means any Issuer Free Writing Prospectus that is not a General Use Free Writing Prospectus.

  • Securities Lending Agreement means an agreement under which a local agency agrees to transfer securities to a borrower who, in turn, agrees to provide collateral to the local agency. During the term of the agreement, both the securities and the collateral are held by a third party. At the conclusion of the agreement, the securities are transferred back to the local agency in return for the collateral.

  • Permitted Free Writing Prospectus shall have the meaning ascribed to such term in Section 4(g).

  • Marketed Underwritten Offering means any Underwritten Offering (including a Marketed Underwritten Shelf Take-Down, but, for the avoidance of doubt, not including any Shelf Take-Down that is not a Marketed Underwritten Shelf Take-Down) that involves a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters over a period of at least 48 hours.

  • Short-Sale Loss means the loss resulting from the Assuming Institution’s agreement with the mortgagor to accept a payoff in an amount less than the balance due on the loan (including the costs of any cash incentives to borrower to agree to such sale or to maintain the property pending such sale), further provided, that each Short-Sale Loss shall be calculated in accordance with the form and methodology specified in Exhibits 2b(1)-(3).