Fraud Loan. A Liquidated Mortgage Loan as to which a Fraud Loss has occurred.
Fraud Loan. A Liquidated Mortgage Loan in Loan Group I, Loan Group II or Loan Group III as to which a Fraud Loss has occurred.
Fraud Loan. Not applicable.
Examples of Fraud Loan in a sentence
Fraud Loan: A Liquidated Loan as to which a Fraud Loss has occurred.
Fraud Loan: A Liquidated Mortgage Loan as to which a Fraud Loss has occurred.
More Definitions of Fraud Loan
Fraud Loan. A Liquidated Mortgage Loan as to which a Fraud Loss has occurred, as reported by the related Servicer or the Master Servicer to the Securities Administrator.
Fraud Loan. A Liquidated Mortgage Loan in Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 or Loan Group 5 as to which a Fraud Loss has occurred.
Fraud Loan. A Liquidated Mortgage Loan in Loan Group I or Loan Group II as to which a Fraud Loss has occurred. Fraud Loss Coverage Amount: The aggregate amount of Fraud Losses that are allocated solely to the Group C-B Certificates, as of the Closing Date, $3,936,414.66, subject to reduction from time to time by the amount of Fraud Losses allocated to the Group C-B Certificates. On each anniversary prior to the fifth anniversary of the Cut off Date, the Fraud Loss Coverage Amount will be reduced as follows: (a) on each of the first, second, third and fourth anniversaries of the Cut off Date, the Fraud Loss Coverage Amount will be reduced to an amount equal to the lesser of (i) 1.00% of the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group I and Loan Group II and (ii) the excess of the Fraud Loss Coverage Amount as of the preceding anniversary of the Cut off Date over the cumulative amount of Fraud Losses on the Mortgage Loans in Loan Group I and Loan Group II allocated to the Group C-B Certificates since such preceding anniversary or the Cut off Date, as the case may be; and (b) on the fifth anniversary of the Cut off Date, to zero. The Fraud Loss Coverage Amount may be reduced below the amount set forth above for any Distribution Date with the consent of the Rating Agencies as evidenced by a letter of each Rating Agency to the Trust Administrator to the effect that any such reduction will not result in a downgrading of the current ratings assigned to such Classes of Certificates rated by it.
Fraud Loan. A Liquidated Mortgage Loan as to which a Fraud Loss ---------- has occurred. Fraud Losses: Realized Losses on Mortgage Loans as to which a ------------ loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.
Fraud Loan. Any Liquidated Mortgage Loan as to which a loss is sustained by reason of a denial of coverage under any related Primary Insurance Policy because of fraud, dishonesty or misrepresentation.
Fraud Loan. With respect to the Aggregate Group II Mortgage Loans, a Liquidated Mortgage Loan as to which a Fraud Loss has occurred, as reported by the related Servicer to the Master Servicer.
Fraud Loan. A Liquidated Mortgage Loan in Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5, Loan Group 6, Loan Group 7 or Loan Group 8 as to which a Fraud Loss has occurred. Fraud Loss Coverage Amount: The aggregate amount of Fraud Losses that are allocated solely to the Class C-B Certificates, as of the Closing Date, $14,889,661, subject to reduction from time to time by the amount of Fraud Losses allocated to the Class C-B Certificates. In addition, (a) on each anniversary prior to the fifth anniversary of the Cut-off Date, the Fraud Loss Coverage Amount will be reduced to an amount equal to the lesser of (A) 1.00% of the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5, Loan Group 6, Loan Group 7 and Loan Group 8 and (B) the excess of the Fraud Loss Coverage Amount as of the preceding anniversary of the Cut-off Date over the cumulative amount of Fraud Losses on the Mortgage Loans in Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5, Loan Group 6, Loan Group 7 and Loan Group 8 allocated to the Class C-B Certificates since such preceding anniversary or the Cut-off Date, and (b) on the fifth anniversary of the Cut-off Date, zero. The Fraud Loss Coverage Amount may be reduced below the amount set forth above for any Distribution Date with the consent of the Rating Agencies as evidenced by a letter of each Rating Agency to the Trust Administrator to the effect that any such reduction will not result in a downgrading of the current ratings assigned to such Classes of Certificates rated by it.