Underlying Mortgage Loan definition

Underlying Mortgage Loan means, with respect to any B-Note, Junior Interest, Mezzanine Loan, CMBS or CRE CDO, a mortgage loan made in respect of the related Underlying Mortgaged Property.
Underlying Mortgage Loan means a Mortgage Loan the bare legal title of which is owned by Guarantor and allocated to the Participation Interest.
Underlying Mortgage Loan means, (a) with respect to any Participation Interest, a mortgage loan made in respect of the related Underlying Mortgaged Property and (b) with respect to any Mezzanine Loan, the mortgage loan made to the borrower whose Capital Stock, or whose direct or indirect parent’s Capital Stock, comprises the security for such Mezzanine Loan.

Examples of Underlying Mortgage Loan in a sentence

  • Except with respect to Underlying Mortgage Loans intended for purchase by Xxxxxx Xxx, the Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Underlying Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the mortgagee thereunder.

  • Each Underlying Mortgage Loan was originated in accordance with Xxxxxx Xxx underwriting guidelines and FHA, VA or USDA requirements, as applicable, and other than due to delinquency or modification, would otherwise be acceptable for inclusion in a Xxxxxx Xxx Security.

  • The Mortgaged Property is undamaged by fire, earthquake, windstorm, flood, tornado or other similar casualty so as to affect materially and adversely the value of the Mortgaged Property as security for the Underlying Mortgage Loan or the use for which the premises were intended and each Mortgaged Property is in good repair.

  • Other than Pooled Loans, Nominee is the sole owner of record and holder of the Underlying Mortgage Loan and the Indebtedness evidenced by each Mortgage Note and upon the sale of the Underlying Mortgage Loans to Buyer, Servicer will retain the Asset Files or any part thereof with respect thereto not delivered to the Custodian, Buyer or Buyer’s designee, in trust only for the purpose of servicing and supervising the servicing of each Underlying Mortgage Loan.

  • For purposes of this Schedule 1-B-1 and the representations and warranties set forth herein, a breach of a representation or warranty shall be deemed to have been cured with respect to an Underlying Mortgage Loan if and when Seller has taken or caused to be taken action such that the event, circumstance or condition that gave rise to such breach no longer adversely affects such Underlying Mortgage Loan or when no portion of the Purchase Price is allocated to such Underlying Mortgage Loan.


More Definitions of Underlying Mortgage Loan

Underlying Mortgage Loan. With respect to any Junior Interest, Mezzanine Loan, Preferred Equity, CMBS, RMBS, Non-Controlling Interest or Pass-Through Interest, a mortgage loan made in respect of the related Underlying Mortgaged Property.
Underlying Mortgage Loan means, with respect to any B-Note, Participation Interest, Mezzanine Loan or CMBS, a mortgage loan made in respect of the related Underlying Mortgaged Property.
Underlying Mortgage Loan means a Mortgage Loan for which the Participation Certificate evidences the Lender's ownership interest therein.
Underlying Mortgage Loan. The conventional, fixed rate, fully amortizing and balloon, first lien residential mortgage loans included in Pool 2 of the Underlying Trust Fund as of the Closing Date.