Examples of Balloon Mortgage Loan in a sentence
The contractor’s role is to identify premises that require an effluent licence, advise the operator on best management practices, and inspect the premises four times a year to ensure compliance with licence conditions.At the same time, in using third-party compliance monitoring there is a risk that the third party’s discretionary judgements on the extent of compliance may diverge considerably from those of the competent government authority.
No Balloon Mortgage Loan has an original stated maturity of less than seven (7) years.
With respect to any balloon payment on a Balloon Mortgage Loan, the Servicer shall only be obligated to advance the assumed monthly payment that would have been due on the related Due Date based on the original principal amortization schedule for such Balloon Mortgage Loan with interest at the Mortgage Rate net of the Servicing Fee Rate.
With respect to each Balloon Mortgage Loan, the Mortgage Note requires a monthly payment which is sufficient to fully amortize the original principal balance over the original term thereof and to pay interest at the related Mortgage Interest Rate and requires a final Monthly Payment substantially greater than the preceding monthly payment which is sufficient to repay the remaining unpaid principal balance of the Balloon Mortgage Loan as of the Due Date of such Monthly Payment.
For any Amortizing Balloon Mortgage Loan, CoreVest, on behalf of the Depositor, instructed us to use “N/A” for the “Remaining IO Term (months)” characteristic.