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 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.
Examples of Xxxxxx Xxx Security in a sentence
The Servicer has no obligation to Purchase Mortgage Loans unless such Mortgage Loans are eligible for inclusion in a GNMA Security, Freddie Mac Security or a Xxxxxx Xxx Security; provided, however, that a Mortgage Loan shall not be considered ineligible for inclusion in a GNMA Security as a result of any failure by the Servicer to take such actions as are necessary to obtain GNMA Commitments pursuant to Section 3.01 of the Servicing Agreement.
More Definitions of Xxxxxx Xxx Security
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 mortgage-backed security guaranteed by Xxxxxx Mae pursuant to the Xxxxxx Xxx Guide.
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. The Guaranteed Grantor Trust Callable Certificate held in the Trust Fund and evidencing an interest in Xxxxxx Mae Grantor Trust 1996-C6.
Xxxxxx Xxx Security. Each Xxxxxx Mae Guaranteed Mortgage Pass-Through Certificate that is transferred and assigned to the Trustee, included in the Trust Fund and identified in Exhibit A hereto.