Alt A definition

Alt A. Loan: A Qualifying Mortgage which conforms to the underwriting criteria of Investors generally for loans which are commonly referred to in the secondary market as "Alt A" or "A-minus" loans and has a FICO score of not less than 620.
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Alt A means a Single-family Mortgage Loan with an Alt-A Credit Grade, all of the proceeds of which (other than any proceeds used to pay closing costs) were used to finance the acquisition of the Mortgaged Premises securing such Mortgage Loan (i.e., not a refinancing or cash out), whose Cumulative Loan-to-Value Ratio is ninety percent (90%) or less and whose Customer has a Credit Score of 625 or more.
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Examples of Alt A in a sentence

  • See Schedule “A” August 2002 for eligible loans, which is attached to the Bulk Alt A Product - FRM Variance.

  • Seller has entered into Interest Rate Protection Agreements with respect to the Alt A Mortgage Loans, Jumbo Mortgage Loans and Conforming Mortgage Loans, having terms with respect to protection against fluctuations in interest rates acceptable to Buyer in its sole discretion.

  • The Company shall not use the proceeds of any Conforming/Government Advance, Jumbo Advance, Second Mortgage Loan Advance, Alt A Advance, Subprime Advance, Wet Advance or Co-Op Advance for any purpose other than the purposes encompassed by the definition of those terms in ARTICLE 1 of this Credit Agreement.

  • Seller shall maintain Interest Rate Protection Agreements with respect to the Alt A Mortgage Loans, Jumbo Mortgage Loans and Conforming Mortgage Loans, having terms with respect to protection against fluctuations in interest rates acceptable to Buyer in its sole discretion.

  • Seller shall enter into Interest Rate Protection Agreements with respect to the Alt A Mortgage Loans, Jumbo Mortgage Loans and Conforming Mortgage Loans subject to Transactions hereunder, having terms with respect to protection against fluctuations in interest rates acceptable to Buyer in its sole discretion.

  • Seller has entered into Interest Rate Protection Agreements with respect to the Alt A Mortgage Loans, Jumbo Mortgage Loans and Conforming Mortgage Loans, having terms with respect to protection against fluctuations in interest rates acceptable to Buyer in its good faith discretion.

  • No Ratio Indicator Alt A Indicator Citizen Type Code Program Code Credit Grade Lien Status Terminal Didget Prepayment Penalty Period (years) Servicer Code Loan Term Number Loan MI Certificate Number Loan MI Coverage Percent Borrower Last Name Borrower First Name Borrower Street Address Pledged Asset Indicator Loan Effect LTV Percent Timesaver Indicator Interest Only Indicator EXHIBIT F SERVICING SYSTEM GUIDELINES AND REQUIREMENTS Loading/Updating Investor Headers 1.

  • No Ratio Indicator Alt A Indicator Citizen Type Code Program Code Credit Grade Lien Status Terminal Didget Prepayment Penalty Period (years) Servicer Code Loan Term Number Loan MI Certificate Number Loan MI Coverage Percent Borrower Last Name Borrower First Name Borrower Street Address Pledged Asset Indicator Loan Effect LTV Percent Timesaver Indicator Interest Only Indicator Loading/Updating Investor Headers 1.

  • Arco may also elect to: • provide repos against Company’s non-AAA rated portfolio, consisting primarily of subordinate bonds generated from Company’s 10 Alt A securitizations, (approximately $125mm), but also comprised of bonds from other shelves, (approximately $100mm); • buy out positions to forestall seizure, but such positions would be transferred to Company as soon as the appropriate MRA’s can be put into place.

Related to Alt A

  • Beginning teacher means a teacher who:

  • Contract Number means, with respect to any Contract included in the Trust, the number assigned to such Contract by the Servicer, which number is set forth in the related Schedule of Contracts.

  • -1 Person" shall have the meaning given in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as modified and used in Sections 13(d) and 14

  • B/A means a ▇▇▇▇ of exchange, including a depository ▇▇▇▇ issued in accordance with the Depository Bills and Notes Act (Canada), denominated in Canadian Dollars, drawn by a Canadian Borrower and accepted by a Multicurrency Revolving Lender in accordance with the terms of this Credit Agreement.

  • N1 means the number of calendar days in the relevant Interest Period; “d” means the number of calendar days in the relevant Interest Period; “Margin” has the meaning specified in the Final Terms;