Repurchased Loan definition

Repurchased Loan has the meaning set forth in Section 2.3(a).

Repurchased Loan means a Loan with respect to which payment is required to be made by the Seller, the Servicer or Credit Acceptance in accordance with Section 3.02 or Section 4.07 hereof or Section 6.1 of the Sale and Contribution Agreement, as applicable.

Repurchased Loan. Defined in Section 2.4.

Examples of Repurchased Loan in a sentence

• Upon receipt by the Purchaser of a Xxxxxx Mae Repurchase Notice by Xxxxxx Xxx indicating that any Reverse Mortgage Loan is a Mandatory Repurchased Loan, Xxxxxx Mae Defective Loan or Collateral Deficient Loan and requiring repurchase of such Reverse Mortgage Loan, the Purchaser shall give prompt written notice thereof to the Seller.

• Upon receipt of such Repurchase Price, Purchaser shall transfer its interest in such repurchased Purchased Loan to Seller on an “AS-IS,” “WHERE-IS” basis, without any representations or warranties other than with respect to Purchaser’s clear and marketable title to such Repurchased Loan.

• During the Interim Servicing Period, with respect to the Reverse Mortgage Loans related to the Group 1 Assets, not later than the last Business Day of each month (each a “Group 1 MCA Reporting Date”), Seller shall provide to Purchaser a 98% maximum claim report (the “Group 1 MCA Report”) identifying any Mortgage Loan that has become a Mandatory Repurchased Loan in such month.

• Upon deposit by Seller of the related Release Price into the Xxxxxx Xxx Drafting Account, Purchaser shall reassign any such Mandatory Repurchased Loan back to Seller in accordance with Section 3.09(c) below and Seller shall own all right, title and interest in the Mandatory Repurchased Loan, the related Servicing Rights and the related Participations.

• At the request of the Seller and to the extent assignable to HUD, the Purchaser, in its capacity as servicer, shall assign any such HMBS Repurchased Loan to HUD and forward any claim proceeds received from HUD for such HMBS Repurchased Loan to the Seller pursuant to the terms of the Subservicing Agreement.

More Definitions of Repurchased Loan

Repurchased Loan means any Purchased Loan that has been repurchased by Seller pursuant to the terms hereof.

Repurchased Loan means any Purchased Loan that has been repurchased by the applicable Seller pursuant to the terms hereof.

Repurchased Loan means a Single-family Mortgage owned by a Company and Pledged to the Agent, none of the makers or mortgagors of which is an Affiliate of the Company or a corporation, partnership or any other entity that is not a natural person or a trust for natural persons, and that was originated or purchased by the Company, sold to an investor (either as a Whole Loan or as part of a pool of securitized Mortgage Loans) and subsequently repurchased by the Company due to underwriting errors, delinquencies or breach of representations or warranties made in connection with such sale.

Repurchased Loan. Any Loan that has been repurchased pursuant to clause (ii) of the fourth sentence of Section 3.5(a).

Repurchased Loan means any Mortgage Loan that the Company or a Company Subsidiary has repurchased (or is subject to a repurchase) from an Investor or other purchaser due to a breach of a representation or warranty which causes such Mortgage Loan to be ineligible for sale pursuant to a Correspondent Agreement or similar agreement.

Repurchased Loan means a Single-family Mortgage Loan owned by a Borrower and Pledged to the Lender, none of the makers or mortgagors of which is an Affiliate of either Borrower or a corporation, partnership or any other entity that is not a natural person or a trust for natural persons, and that was originated or purchased by a Borrower, sold to an investor (either as a Whole Loan or as part of a pool of securitized Mortgage Loans) and subsequently repurchased by such Borrower due to underwriting errors, delinquencies or breach of representations or warranties made in connection with such sale.

Repurchased Loan means a Loan with respect to which payment is required to be made by the Seller, the Servicer or Credit Acceptance in accordance with Section 3.02 or Section 4.07 hereof or Section 6.1 of the Contribution Agreement, as applicable.