Xxxxxx Xxx Security definition

Xxxxxx Xxx Security means a fully-modified pass-through mortgage-backed certificate guaranteed by Xxxxxx Mae, 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 Xxx Mortgage Loans, in substantially the principal amount and with substantially the other terms as specified with respect to such Xxxxxx Mae Security in the related Takeout Commitment.

Xxxxxx Xxx Security means an ownership interest in a pool of Xxxxxx Mae Mortgage Loans, evidenced by a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York, issued and guaranteed, with respect to timely payment of interest and ultimate payment of principal, by Xxxxxx Xxx 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, if any.

Xxxxxx Xxx Security means a mortgage-backed security guaranteed by Xxxxxx Mae pursuant to the Xxxxxx Xxx Guide.

Examples of Xxxxxx Xxx Security in a sentence

• The Cut-off Date Principal Balance respecting each Pooled Loan shall be at least equal to the original unpaid principal balance of the Xxxxxx Xxx Security for the Pooled Loans designated to be issued.

• With respect to Pooled Loans being placed in a Xxxxxx Xxx Security, no Securities Issuance Failure shall have occurred.

• In the absence of any such instructions, the Trustee shall vote such Xxxxxx Xxx Security in a manner consistent, in the sole judgment of the Trustee, with the best interests of the Holders of the related Certificates outstanding hereunder.

• With respect to Pooled Loans being placed in a Xxxxxx Xxx Security, the Custodian has certified such Pooled Loans to the Agency for the purpose of being swapped for a Xxxxxx Mae Security backed by such pool, in each case, in accordance with the terms of the Xxxxxx Xxx Guide.

• Each Underlying Mortgage Loan was originated in accordance with Xxxxxx Mae 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.

More Definitions of Xxxxxx Xxx Security

Xxxxxx Xxx Security means a security representing an undivided fractional interest in an Eligible Mortgage Pool, which security is issued and guaranteed as to payment of principal and interest by Xxxxxx Mae to an extent consistent with Xxxxxx Mae’s customary practices, without regard as to whether Borrower collects any payments on such Mortgage Loans.

Xxxxxx Xxx Security. The Xxxxxx Mae Guaranteed MBS Pass-Through Certificate that is transferred and assigned to the Trustee, included in the Trust Fund and identified in Exhibit A hereto.

Xxxxxx Xxx Security means a custom pool, fully modified mortgage backed Xxxxxx Mae or Xxxxxx Xxx XX Security issued by the Servicer and representing Mortgage Loans originated by the Lender and other Lenders participating in the MRB Program and, if applicable, sold to the Servicer under this MRB Origination Agreement, registered in the name of the Trustee or its designee, guaranteed as to timely payment of principal and interest by Xxxxxx Mae pursuant to Section 306(g) of Title III of the National Housing Act of 1934 and the regulations promulgated thereunder.

Xxxxxx Xxx Security means a single pool, guaranteed mortgage pass-through security, providing for the regularly scheduled monthly payments and any prepayments thereunder with the final regularly scheduled payment, issued by Xxxxxx Xxx in book entry form, recorded in the name of the Trustee or its nominee for the benefit of the Bondholders of the related series of Taxable Bonds, guaranteed as to timely payment of principal and interest by Xxxxxx Xxx and backed by Conventional Mortgage Loans in the related mortgage pool.

Xxxxxx Xxx Security a Mortgage-backed Security guaranteed or issued by Xxxxxx Mae.

Xxxxxx Xxx Security. An ownership interest in a pool of Xxxxxx Mae Mortgage Loans, evidenced by a book-entry account in a depository institution having book-entry accounts at the Federal Reserve Bank of New York, 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, if any. “FDIA: Title 12 United States Code, Section 1811 et seq., as amended from time to time.

Xxxxxx Xxx Security means a fully-modified pass-through mortgage-backed security (which may include a participation certificate) that is (i) guaranteed by Xxxxxx Xxx and (ii) backed or collateralized by, or representing an interest in, a pool of Loans.