High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan", "high cost home", "
High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan," "high cost home," "covered," "high cost," "high risk home," "predatory" or similarly classified loan under any applicable state, federal or local law, the Servicer may notify the Depositor and the Trustee, and if the Servicer so notifies such parties, the Servicer may cease its initiation of collection efforts thereon; and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders in such Mortgage Loan and the Sponsor will repurchase the Mortgage Loan within a 90-day period from the date of the notice in the manner described in Section 2.05.
High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan," "high cost home," "covered," "high cost," "high risk home," "predatory" or similarly classified loan under any applicable state, federal or local law, the Servicer may notify the Depositor, the Master Servicer and the Trustee thereof; the Servicer may terminate its servicing thereof; and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders in such Mortgage Loan, and the Sponsor will repurchase the Mortgage Loan within a 30 day period from the date of the notice in the manner described in the Pooling and Servicing Agreement.
High Cost Mortgage Loans. None of the Mortgage Loans are (a) subject to, covered by or in violation of the Home Ownership and Equity Protection Act of 1994 (“HOEPA”), (b) classified as a “high cost,” “covered,” “high risk home”, “high-rate, high-fee,” “threshold,” or “predatory” loan under HOEPA or any other applicable state, federal or local law, including any predatory or abusive lending laws (or a similarly classified loan using different terminology under a law imposing heightened scrutiny or additional legal liability for a residential mortgage loan having high interest rates, points and/or fees), (c) a High Cost Loan or Covered Loan, as applicable (as such terms are defined in the Standard & Poor’s LEVELS® Glossary Revised, Appendix E) or (d) in violation of any state law or ordinance comparable to HOEPA;
High Cost Mortgage Loans. In the event that the Servicer reasonably determines that a Mortgage Loan may be a "high cost mortgage loan", "high cost home", "covered", "high cost", "high risk home", "predatory" or similarly classified loan under any applicable state, federal or local law, the Servicer may notify the Depositor and the Trustee thereof; the Servicer may terminate its servicing thereof; and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders in such Mortgage Loan and the Seller will repurchase the Mortgage Loan within a 30 day period from the date of such notice in the manner described in Section 2.02.
High Cost Mortgage Loans. No Mortgage Loan is (a) subject to, covered by or in violation of the provisions of the Homeownership and Equity Protection Act of 1994, as amended, (b) a “high cost”, “covered”, “abusive”, “predatory”, “home loan”, “Oklahoma Section 10” or “high risk” mortgage loan (or a similarly designated loan using different terminology) under any federal, state or local law, including without limitation, the provisions of the Georgia Fair Lending Act, New York Banking Law, Section 6-1, the Arkansas Home Loan Protection Act, effective as of June 14, 2003, Kentucky State Statute KRS 360.100, effective as of June 25, 2003, the New Jersey Home Ownership Security Act of 2002 (the “NJ Act”), the New Mexico Home Loan Protection Act (N.M.
High Cost Mortgage Loans. Exhibit N......
High Cost Mortgage Loans. None of the Mortgage Loans are classified as (a) "high cost" loans under the provisions of the Homeownership and Equity Protection Act of 1994 or (b) "high cost", "high risk home", "threshold", "covered", "abusive", "predatory" or similarly defined loan under any other applicable state, federal or local law. No Mortgage Loan is a High Cost Loan or Covered Loan, as applicable (as such terms are defined in the current Standard & Poor's LEVELS(R) Glossary Revised, Appendix E). None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies;
High Cost Mortgage Loans. In the event that during the normal course of its servicing activities the related Servicer reasonably determines that a Mortgage Loan may be a High Cost Mortgage Loan, such Servicer shall promptly notify the Depositor, the Certificate Insurer and the Trustee (provided, however, that any failure to provide such notification shall not constitute a breach under this Agreement), and if the related Servicer so notifies such parties, the Servicer may cease its initiation of collection efforts thereon, and such determination shall be deemed to materially and adversely affect the interests of the Certificateholders or the Certificate Insurer in such Mortgage Loan and the Responsible Party or the Purchaser, as applicable, will repurchase the related Mortgage Loan within a period and in the manner prescribed in the related Responsible Party Agreement or the Representation and Warranties Agreement.
High Cost Mortgage Loans. No Mortgage Loan is classified as a “high cost mortgage” under Section 32 of the Home Ownership and Equity Protection Act of 1994 or is considered a “high cost mortgage” loan under any other federal, state or local anti-predatory lending law applicable at the time the loan was originated. Each Originator was qualified to do business, and had all requisite licenses, permits and approvals, in the states in which the applicable Mortgaged Properties are located, except where the failure to possess such qualifications, licenses, permits and approvals would not materially and adversely affect the enforceability of the Mortgage Loan Documents by Purchaser;
