Examples of Class PO Certificates in a sentence
This certifies that GMAC MORTGAGE CORPORATION is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Initial Certificate Principal Balance of all Class PO Certificates, both as specified above) in certain distributions with respect to the Trust Fund consisting primarily of an interest in a pool of one- to four-family fixed interest rate first mortgage loans (the "Mortgage Loans"), formed and sold by Residential Asset Mortgage Products, Inc.
The Class 1-PO Interests will have a principal balance, following the allocation of scheduled principal, prepayments of principal and Realized Losses, equal to the principal balance of the Class PO Certificates and will not be entitled to receive distributions of interest.
The Class PO Certificates will be offered in minimum percentage interests of 0.01%.
With respect to the Class X Certificates and each Distribution Date, any amount of Net Deferred Interest added to the Principal Balances of the related Mortgage Loans that is allocated to the Class X Certificates on such Distribution Date will be added as principal to the outstanding Class Principal Balance of the Class PO Certificates.
The Subordinate Certificates and the Class PO Certificates shall be available to investors in interests representing minimum dollar Certificate Balances of $25,000 and integral dollar multiples of $1 in excess thereof.