Conventional Mortgage Loans definition

Conventional Mortgage Loans means Mortgage Loans which are not FHA/VA/RD Loans and which satisfy the requirements of this Origination Agreement and Xxxxxx Xxx or Xxxxxxx Mac, as applicable.
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Conventional Mortgage Loans means loans eligible for sale to Xxxxxx Xxx and Xxxxxxx Mac.
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Conventional Mortgage Loans means a Mortgage Loan other than an FHA, VA or USDA/RD Mortgage Loan which meets the requirements of Xxxxxx Mae and which contains the Mortgage Addendum Conventional Mortgage Loan (Exhibit J-3).
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Examples of Conventional Mortgage Loans in a sentence

  • The Commission shall announce in the Program Announcement with respect to each bond issue, the maximum dollar amount, if any, of FHA Insured Mortgage Loans, VA Guaranteed, HUD Guaranteed or RD Guaranteed Mortgage Loans and Conventional Mortgage Loans, respectively, that the Servicer may purchase under the Program.

  • Seller may offer for sale to Buyer eligible VA, FHA, USDA, or Conventional Mortgage Loans.

  • The P2P Down Payment Assistance will be (i) available in the Program Area established for the Home Plus Program, subject to modification in the sole discretion of the Authority, and (ii) available only with respect to Conventional Mortgage Loans that will be pooled by the Servicer into FHLMC Certificates, subject to modification in the sole discretion of the Authority.

  • Conventional Mortgage Loans will be purchased by the Servicer with a 1.00% SRP, and therefore Lender compensation of 2.25% will obtain with respect to a Conventional Mortgage Loan under the Program.

  • In the case of Conventional Mortgage Loans insured by private mortgage insurer, Servicer shall make timely application for the benefits of such insurance and ascertain whether the property is to be conveyed to the insurance carrier or the claim otherwise settled.

  • A "Special Forbearance Relief Agreement" is a written agreement to reduce or suspend regular payments for a forbearance period of up to 12 months in the case of Conventional Mortgage Loans and 18 months for FHA/VA Mortgage Loans, after which regular payments are required to be resumed.

  • PHH shall be responsible for developing the various Mortgage Loan Types and establishing the Mortgage Loan Pricing for all Conforming Conventional Mortgage Loans and Jumbo/Non-Conforming Mortgage Loans (“PHH Pricing”).

  • The term “Mortgage Loan” as used herein shall include, but not be limited to, Conforming Conventional Mortgage Loans, Jumbo/Non-Conforming Mortgage Loans, PrimeFirst® Loans, Construction Loans, Equity Access Loans, Three Year ARMs, and Five Year ARMs. This definition is subject to the terms of Section 1(d).

  • However, the Lender agrees at the Authority’s written request to consent to any amendments to the Program Documents necessary to include in the Program Conventional Mortgage Loans and/or mortgage- backed securities issued by Xxxxxx Xxx and/or Xxxxxxx Mac.

  • Section 2(a) is amended by deleting the second sentence of such section and replacing it in its entirety with the following text: “PHH shall be responsible for developing the various Mortgage Loan Types and establishing the Mortgage Loan Pricing for all Conforming Conventional Mortgage Loans, Jumbo/Non-Conforming Mortgage Loans and any Mortgage Loans originated under the Landscape Underwriting Guidelines (“PHH Pricing”).” (c)Section 6(b).


More Definitions of Conventional Mortgage Loans

Conventional Mortgage Loans means Mortgage Loans which meet FNMA, FHLMC, or --------------------------- other generally accepted underwriting criteria for conforming loans, in addition to the requirements set forth in the applicable Take-Out Commitment if any, and which further meet such additional requirements as BANK may impose from time to time.
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Conventional Mortgage Loans means Single-Family Mortgage Loans that would be Conforming Conventional Mortgage Loans in all other respects but that exceed the maximum individual loan limits of FNMA and FHLMC. (6) (7) "Underlying Mortgages" shall mean Mortgages securing Underlying Loans. (8) (9) "Underlying Notes" shall mean promissory notes evidencing Underlying Loans. (10) (11) "Mortgage-Backed Securities" shall mean securities derived from or secured by Underlying Loans that are intended to be sold to responsible long-term investors. (12) (13) "Purchase Commitments" shall mean commitments from long-term investors or representatives of long-term investors to purchase Underlying Loans or Mortgage-Backed Securities. (14) (15) (16) (17)
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Related to Conventional Mortgage Loans

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Conventional Mortgage means a mortgage for which the principal amount, at the time of commitment, together with all other equal and prior ranking mortgages: (a) in the case of a property purchase, does not exceed the lower of 75% of the purchase price of the underlying real property securing the mortgage and 75% of the appraised value of the underlying real property securing the mortgage as determined by a qualified appraiser; and (b) in the case of a refinancing, does not exceed 75% of the appraised value of the underlying real property securing the mortgage as determined by a qualified appraiser at the time of such refinancing.

  • Original Mortgage Loan The mortgage loan refinanced in connection with the origination of a Refinancing Mortgage Loan.

  • Residential mortgage loan means any loan primarily for

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.

  • Commercial Mortgage Loan means a loan secured by a Lien on improved real estate used for commercial purposes.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a principal balance at origination that may or may not conform to Freddie Mac and Fannie Mae loxx xxxxts.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.