Common use of Fixed Rate Mortgage Loan Clause in Contracts

Fixed Rate Mortgage Loan. A Mortgage Loan that, as of the related Issue Date (or, in the case of a substitute Mortgage Loan, as of the date the Mortgage Loan is transferred to the Trust), provides for an interest rate that is a fixed rate of interest and by its terms remains unchanged (other than after a default) until the last scheduled payment date of that Mortgage Loan.

Appears in 5 contracts

Samples: Federal National Mortgage Association, Multifamily Master Trust Agreement, Trust Agreement