Alt-A Loans definition
Examples of Alt-A Loans in a sentence
If the Lender shall determine on any day that the weighted average Credit Score of all Alt-A Loans then Pledged to the Lender is less than 680 and make a Redemption Call, then and in that event the Borrowers shall redeem (either by making cash paydowns of outstanding Advances or substituting higher quality Collateral) a sufficient number of lower Credit Score Alt-A Pledged Loans as shall be required to correct such deficiency by no later than five (5) Business Day after the Lender's request.
If the Agent shall determine on any day that the weighted average FICO score of all pledged Alt-A Loans is less than 680 and make a Redemption Call, the Company shall immediately (by no later than the next Business Day after the Agent's request) redeem (either by making cash paydowns of outstanding Advances or substituting higher quality Collateral) a sufficient number of lower FICO score pledged Alt-A Loans as shall be required to correct such deficiency.
A separate Request for Borrowing shall be made for each Borrowing, which, when appropriately completed and, if new Collateral is being pledged, with a Submission List attached, may include requests for Borrowings to finance either of the two types of Eligible Collateral ((i) Wet or Dry Prime Loans or Alt-A Loans or (ii) Dry Commercial Mortgage Loans).
A separate Request for Borrowing shall be made for each Borrowing, which, when appropriately completed and, if new Collateral is being pledged, with a Submission List attached, may include requests for Borrowings to finance either of the two types of Eligible Collateral (wet or dry Prime Loans or Alt-A Loans).