Interim Funder. With respect to each MERS Designated Mortgage Loan, the Person named on the MERS System as the interim funder pursuant to the MERS Procedures Manual.
Interim Funder. With respect to each MERS Designated Mortgage Loan, the Person named on the MERS® System as the interim funder pursuant to the MERS Procedures Manual. Investor: With respect to each MERS Designated Mortgage Loan, the Person named on the MERS® System as the investor pursuant to the MERS Procedures Manual. KBRA: Xxxxx Bond Rating Agency, Inc. Lender Paid Primary Mortgage Insurance Fee or LPMI Fee: With respect to each Mortgage Loan which has an LPMI Policy, the portion of the Mortgage Interest Rate as set forth on the Mortgage Loan Schedule (which shall be payable solely from the interest portion of Monthly Payments, Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds), which, during such period prior to the required cancellation of the LPMI Policy, shall be used to pay the premium due on the related LPMI Policy. Lender Paid Primary Mortgage Insurance Policy or LPMI Policy: A policy of primary mortgage guaranty insurance issued by a Qualified Insurer pursuant to which the related premium is to be paid by the Servicing Administrator of the related Mortgage Loan from payments of interest made by the Mortgagor in an amount as is set forth in the Mortgage Loan Schedule.
Interim Funder with respect to such Mortgage Loan; or
Examples of Interim Funder in a sentence
In addition, no later than two Business Days after the related Closing Date, Seller shall provide the Custodian and the Purchaser with a MERS Report listing the Purchaser as the Investor, the Custodian as custodian and no Person as Interim Funder with respect to each MERS Designated Mortgage Loan.
With respect to each MERS Designated Mortgage Loan, the Seller shall, no later than two Business Days after the related Closing Date, designate the Purchaser as the Investor and the Custodian as custodian, and no Person shall be listed as Interim Funder on the MERS System.
Interim Funder: With respect to each MERS Designated Mortgage Loan, the Person named on the MERS System as the interim funder pursuant to the MERS Procedures Manual.
More Definitions of Interim Funder
Interim Funder means Capmark Bank Europe p.l.c. or Capmark Finance Inc. or (with the agreement of the Agent) any other Affiliate of the Borrower who provides interim funding to the Borrower for the making or acquisition of a Non-approved Secured Property Loan together the “Interim Funders”.
Interim Funder shall have the meaning given such term in the MERS Procedure Manual.
Interim Funder. With respect to each MERS Designated Mortgage Loan, the Person named on the MERS® System as the interim funder pursuant to the MERS Procedures Manual. Insurance Proceeds: Proceeds of any FHA, VA or RHS mortgage insurance or guarantee, title policy, hazard policy or other insurance policy covering a Mortgage Loan, if any, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the procedures that the Company would follow in servicing mortgage loans held for its own account.