Applicable Mortgages definition

Applicable Mortgages means any Mortgage with respect to which mortgage recording taxes, documentary stamp taxes, intangible taxes and other similar taxes are payable in connection with each Credit Extension (assuming that no Credit Extensions were then outstanding).
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Applicable Mortgages. All Home Mortgages for which pool mortgage insurance coverage is required under the Master Agreement, consisting of all 30-year fixed-rate Mortgages with LTV ratios greater than 65 percent, but not greater than 97 percent, which are to be purchased thereunder; provided, however, that Applicable Mortgages shall not include: (a) Mortgages where the Mortgaged Premises are located in Guam, Puerto Rico or the U.S. Virgin Islands; (b) Mortgages identified by special characteristic codes 001, 033, 218, 219, 231, 291, 531, or 537; (c) Mortgages insured or guaranteed by a federal government agency or instrumentality; (d) Custom MI Mortgages; (e) A-minus Mortgages; (f) Alt 97 Mortgages except those with 35 percent mortgage insurance coverage; (g) all Mortgages with secondary financing; (h) Mortgages that are subject to another risk sharing structure; (i) Mortgages considered for secondary market coverage; (j) Loan Prospector Mortgages originated using Stated Income; (k) Non-Loan Prospector Mortgages originated with no income and no asset verification and documentation; and (1) Non-Loan Prospector Mortgages originated with no qualifying ratios. Delinquent Mortgage: An Insured Mortgage:
Sample 1

Examples of Applicable Mortgages in a sentence

  • The Leased Property shall be subject to the Liens of the Applicable Mortgages.

  • This Lease shall be subject and subordinate to the Liens of the Indenture and the Applicable Mortgages and the Applicable Assignments of Rents, but neither the Landlord nor any Person deriving or claiming rights through, under or from Landlord shall, so long as no Event of Default shall have occurred and be continuing and subject to the terms of this Section 16.1, take any action contrary to the Tenant's rights under this Lease to the use, quiet enjoyment and possession of the Leased Property.

  • The portion of the Collateral consisting of (a) the original Pledged Notes Receivable; (b) the original Applicable Mortgages; and (c) all other original Loan Documents shall be delivered, at Borrower's expense, to Lender at its address as set forth in Section 11.1 hereof and, except as otherwise expressly provided herein to the contrary, held in Lender's possession, custody, and control until all of the Obligations have been fully satisfied.

  • Tenant acknowledges that such assignments and security interests provide for the exercise by the Agent of all rights, other than Reserved Rights, of Landlord hereunder to give any consents, approvals, waivers, notices or the like, to make any elections, demands or the like or to take any other discretionary action hereunder, including the exercise of remedies, except as specifically set forth in the Applicable Mortgages.

  • Lender may, at Borrower's expense, appear in and defend any action or proceeding, at law or in equity, that Lender in good faith believes may affect the Liens or security interests granted under this Agreement, including, without limitation, with respect to the Pledged Notes Receivable, the Applicable Mortgages, the value of the Collateral, or Lender's rights under any of the Loan Documents.

  • All actions with respect to the eligibility of the Applicable Mortgages required of Seller shall be undertaken prior to the sale of such Applicable Mortgages to Xxxxxxx Mac.

  • Xxxxxxx Mac’s obligation to purchase Applicable Mortgages under this Agreement and applicable Master Commitments is contingent upon Seller’s ability to obtain coverage for each Applicable Mortgage under the MPI Policy in accordance with the terms of the Pool Insurance Agreement.

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  • All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable Mortgages, and Underlying Guarantees executed and delivered to Borrower in connection therewith.

Related to Applicable Mortgages

  • Existing Mortgages means the Mortgages executed and delivered in connection with the Existing Credit Agreement.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Facility Mortgage As defined in Section 13.1.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Collateral Assignments means, collectively, the Assignment of the Development Agreement, and the Assignment of Management Agreement, the Assignment of the Right to Receive Tax Credits, Capital Contributions and Partnership Interests, each in form and substance satisfactory to the Significant Bondholder and the Financial Monitor and as each may be amended or supplemented from time to time with the prior written consent of the Significant Bondholder.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Non-MERS Eligible Mortgage Loan Any Mortgage Loan other than a MERS Eligible Mortgage Loan.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Parent or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Security Instrument A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Mortgaged Real Property means any parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Eligible Mortgage Loan means a Mortgage Loan:

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.