Xxxxxx Xxx Mortgage Loan definition

Xxxxxx Xxx Mortgage Loan means a mortgage loan that is in Strict Compliance on the related Purchase Date with the eligibility requirements specified for the applicable Xxxxxx Mae Program described in the Xxxxxx Xxx Guide.

Xxxxxx Xxx Mortgage Loan. A Mortgage Loan underwritten in accordance with the guidelines of Xxxxxx Mae described in the Xxxxxx Xxx Guide.

Xxxxxx Xxx Mortgage Loan means a Mortgage Loan underwritten in accordance with the guidelines of Xxxxxx Mae described in the Servicing Contract and the Xxxxxx Xxx Guide.

Examples of Xxxxxx Xxx Mortgage Loan in a sentence

• Each Xxxxxx Xxx Mortgage Loan is an Eligible Xxxxxx Xxx Loan and each Xxxxxxx Mac Mortgage Loan is an Eligible Xxxxxxx Mac Loan.

• The Mortgage Note, the Mortgage and all other documents in the Mortgage Loan File related to each Xxxxxx Xxx Mortgage Loan are on Xxxxxx Xxx uniform instruments or are on forms acceptable to Xxxxxx Xxx.

• The Borrowers represent and warrant to the Agent and the Lenders, as of the date of this Agreement and as of the date of each Advance Request by the Borrowers and the making of each Advance to the Borrowers, that the Borrowers have met the capital requirements stated in, and maintain adequate DUS Loan Loss Reserves (if any) required under, Xxxxxx Mae’s Delegated Underwriting and Servicing Guide for each Xxxxxx Xxx Mortgage Loan to be funded by such Advance.

• With respect to each Xxxxxx Xxx Mortgage Loan, such Mortgage Loan was originated and underwritten in accordance with the Xxxxxx Xxx Guide in effect at the time such Mortgage Loan was originated and such Mortgage Loan complies with such guidelines and complies with any overlays set forth in writing by Buyer.

• With respect to each Xxxxxx Xxx Mortgage Loan and Xxxxxxx Xxx Mortgage Loan, there are no outstanding, unpaid and/or accrued Compensatory Fees.

More Definitions of Xxxxxx Xxx Mortgage Loan

Xxxxxx Xxx Mortgage Loan. A Mortgage Loan included in a Xxxxxx Mae Pool.

Xxxxxx Xxx Mortgage Loan means an Eligible Loan that is in compliance on the related Purchase Date with the eligibility requirements specified for the applicable Xxxxxx Xxx Program described in the Xxxxxx Xxx Guide.

Xxxxxx Xxx Mortgage Loan. A mortgage loan (fixed or ARM) (a) with respect to which Xxxxxx Xxx owns the beneficial interest therein, or (b) that serves as collateral for mortgage-backed securities on which the payment of principal and interest is guaranteed by Xxxxxx Xxx.

Xxxxxx Xxx Mortgage Loan. A Mortgage Loan owned by or securitized through Xxxxxx Xxx and underwritten in accordance with the guidelines of Xxxxxx Xxx described in the Xxxxxx Xxx Guide.

Xxxxxx Xxx Mortgage Loan. A Mortgage Loan identified as a “Xxxxxx Xxx Mortgage Loan” on the Asset Data Record.

Xxxxxx Xxx Mortgage Loan means, with respect to any Xxxxxx Mae Participation Certificate or any Xxxxxx Xxx Security, a mortgage loan that is in Strict Compliance on the related Purchase Date with the eligibility requirements specified for the applicable Xxxxxx Mae Program in the applicable Xxxxxx Xxx Guide. “Xxxxxx Mae Participation Certificate” means, with respect to the Xxxxxx Xxx Program, a certificate, substantially in the form of Exhibit A, issued by Seller and authenticated by Custodian, evidencing the 100% undivided beneficial ownership interest in the Xxxxxx Mae Mortgage Loans set forth on the Form HUD 11706 (Schedule of Pooled Mortgages). “Xxxxxx Xxx Program” means the Xxxxxx Mae Mortgage-Backed Securities Programs, as described in the Xxxxxx Xxx Guide. “Xxxxxx Mae Security” means a modified pass-through mortgage-backed certificate guaranteed by Xxxxxx Xxx, evidenced by a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York and backed by a pool of Xxxxxx Mae Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such Xxxxxx Xxx Security in the related Takeout Commitment.1420 “Governmental Authority” means any nation or government, any state or other political subdivision, agency or instrumentality thereof, or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any court or arbitrator having jurisdiction over Seller. “High Cost Mortgage Loan” means a Mortgage Loan that is (a) subject to, covered by or in violation of the provisions of the Homeownership and Equity Protection Act of 1994, as amended, (b) a “high cost,” “covered,” “threshold,” “abusive,” “predatory” or “high risk” mortgage loan under any federal, state or local law, or any similarly classified loan using different terminology under any law imposing heightened regulation, scrutiny or additional legal liability 1420 The definition of “Xxxxxx Mae Security” was amended by Amendment No. 1, dated as of September 24, 2021.

Xxxxxx Xxx Mortgage Loan. A mortgage loan with respect to which Xxxxxx Mae owns the beneficial interest therein or that serves as collateral for mortgage-backed securities on which the payment of principal and interest is guaranteed by Xxxxxx Xxx.