Purchased Mortgage Loan definition

Purchased Mortgage Loan. A Mortgage Loan that has been purchased by Buyer from Seller in connection with a Transaction and which has not been repurchased by Seller hereunder.

Purchased Mortgage Loan means each Mortgage Loan sold by Seller to Buyer in a Transaction, as reflected in the Confirmation, and which has not been repurchased by Seller hereunder.

Purchased Mortgage Loan means each Mortgage Loan sold by Seller to Buyer in a Transaction, as reflected in the EverBank Warehouse Electronic System and as evidenced by the Daily Activity Report, until repurchased by Seller in accordance with the terms hereof.

Examples of Purchased Mortgage Loan in a sentence

• Any rights of the Corporation set forth in (1)-(5) above may be exercised by, (i) to the extent permitted by law, a subsidiary of the Corporation established pursuant to Section 654-a of the Act and (ii) with respect to the 2006 Series A Purchased Mortgage Loan backing the 2006 Series A Mortgage Loan only, another entity in accordance with the provisions of the Special Servicing Agreement.

• Such obligation to repurchase exists without regard to any prior or intervening liquidation or foreclosure with respect to any Purchased Mortgage Loan (but liquidation or foreclosure proceeds received by Buyer shall be applied to reduce the Repurchase Price for such Purchased Mortgage Loan on each Price Differential Payment Date except as otherwise provided herein).

• They are also regularly placed on “Restriction” enhanced solitary confinement for 24 hours or more at the whim of staff.

• The Corporation may at any time thereafter sell such Project, provided that the proceeds of such sale shall be treated as Pledged Receipts with respect to the 2006 Series A Purchased Mortgage Loan backing the 2006 Series A Mortgage Loan or as Recoveries of Principal with respect to a 2012 Mortgage Loan, as the case may be.

• If Income is paid in respect of any Purchased Mortgage Loan during the term of a Transaction, such Income shall be the property of Buyer.

More Definitions of Purchased Mortgage Loan

Purchased Mortgage Loan means a Mortgage Loan sold by Seller to Purchaser in a Transaction hereunder and not yet repurchased by Seller.

Purchased Mortgage Loan means any reference to any Eligible Mortgage Loan that is purchased by Buyer and listed on the Asset Schedule attached to the related Transaction Notice (as Appendix I or otherwise), including the related Mortgage File for which the Custodian has been instructed to hold pursuant to the Custodial Agreement.

Purchased Mortgage Loan means a Mortgage Loan included in the Purchased Mortgage Assets.

Purchased Mortgage Loan means each Mortgage Loan, and/or any other evidence of ownership of a Mortgage Loan mutually agreed upon by the Buyer and the Sellers and identified to the Custodian transferred or caused to be transferred by the Sellers to the Buyer or its designee (including the Custodian) in a Transaction under the Repurchase Agreement and any Additional Purchased Mortgage Loans delivered pursuant to this Agreement.

Purchased Mortgage Loan. A Mortgage Loan that has been purchased by Buyer from Seller in connection with a Transaction and which has not been repurchased by Seller hereunder. QM Rule: 12 CFR 1026.43(e), including all applicable official staff commentary.

Purchased Mortgage Loan. A Mortgage Loan that has been purchased by Secured Party, on behalf of Buyers, from Debtor in connection with a Transaction and which has not been repurchased by Debtor hereunder. “Repurchase Price”: The price at which a Purchased Asset is to be transferred from Secured Party, on behalf of Buyers, or its designee to Debtor or Approved Investor, as applicable, upon termination of a Transaction, which shall equal the sum of (a) the Purchase Price, (b) any applicable fees and indemnities owed by Debtor in connection with the Purchased Asset and (c) the Price Differential due on such Purchase Price pursuant to Section 2.6 of the Repurchase Agreement as of the date of such determination. “Revolving Rebuild BPL Loan”: Any Business Purpose Loan for which future advances are dispersed to or from the Debtor to the related Mortgagor following the origination of such loan to rebuild the related Mortgaged Property in accordance with the Servicing Agreement and the Mortgage Loan Documents. “Purchase Price Increase”: An increase in the Purchase Price of a Revolving Rebuild BPL Loan in connection with the related disbursement of Additional Draw Amounts, as requested by Debtor pursuant to Section 2.1(b) of the Repurchase Agreement. “Purchase Price Increase Date”: The date on which a Purchase Price Increase is made. “Servicer”: (i) FCI Lender Services, Inc. or (ii) such other entity responsible for servicing of the Purchased Mortgage Loans and that has been approved by Secured Party, on behalf of Buyers, in writing, or, in each case, any successor or permitted assigns thereof. “Servicing Agreement”: If the Purchased Mortgage Loans are serviced by any servicer that is not Secured Party or an Affiliate of Secured Party, in each case, the agreement with the third party servicer, in form and substance acceptable to Secured Party, on behalf of Buyers. “Servicing Records”: All servicing agreements, files, documents, records, data bases, computer tapes, copies of computer tapes, proof of insurance coverage, insurance policies, appraisals, other closing documentation, payment history records, and any other records relating to or evidencing the servicing of a Mortgage Loan. “Servicing Rights”: The contractual, possessory or other rights of Debtor, Servicer or any other Person, whether arising under a Servicing Agreement, the Custodial Agreement or otherwise, to administer or service a Mortgage Loan or to possess related Servicing Records.

Purchased Mortgage Loan means each Mortgage Loan sold by Seller to Buyer in a Transaction, as reflected in the TIAA Bank Warehouse Electronic System and as evidenced by the Daily Activity Report, prior to the time repurchased by Seller in accordance with the terms hereof.