Collateral Group 2 definition

Collateral Group 2. The Mortgage Loans in Subgroup 1-A and Subgroup 1-B or portions thereof that have been stripped to an Effective Net Rate of 5.75%.

Collateral Group 2. For purposes of allocating principal collections, Advances of principal and otherwise as specified herein, a group consisting of (a) the aggregate of the Applicable Fraction for Collateral Group 2 of the Scheduled Principal Balance of each of the Pool 1 Mortgage Loans in Subgroup B having Net Mortgage Rates greater than 6.250% and less than 6.5000%, as of the Cut-off Date and (b) the aggregate Scheduled Principal Balance of each of the Pool 1 Mortgage Loans in Subgroup C.

Collateral Group 2. For purposes of allocating principal collections, Advances of principal and otherwise as specified herein, a group consisting of (a) the aggregate of the Applicable Fraction for Collateral Group 2 of the Scheduled Principal Balance of each of the Mortgage Loans having Net Mortgage Rates greater than 6.000%, as of the Cut-off Date and (b) the aggregate Scheduled Principal Balance of each of the Mortgage Loans having Net Mortgage Rates equal to or greater than 7.500%, as of the Cut-off Date.

Examples of Collateral Group 2 in a sentence

• The allocation of a Pool 1 Mortgage Loan to Collateral Group 1 or Collateral Group 2 shall not change based on a modification to the Net Mortgage Rate of such Mortgage Loan subsequent to the Cut-off Date.

• The allocation of a Mortgage Loan to Collateral Group 1 or Collateral Group 2 shall not change based on a modification to the Net Mortgage Rate of such Mortgage Loan subsequent to the Cut-off Date.

• The Subsidiary REMIC shall consist of all of the assets constituting the Trust Fund corresponding to Collateral Group 1 and Collateral Group 2, (exclusive of the Class P Prepayment Charges) and shall be evidenced by the uncertificated interests set forth below that shall be designated as REMIC regular interests (the “Subsidiary REMIC Regular Interests”).

• The Applicable Fraction for the portion of each such Pool 1 Mortgage Loan allocated to Collateral Group 2 is (I) 1 minus (II) the quotient of (a)(i) 7.000% minus (ii) the related Net Mortgage Rate divided by (b) 1.250%.

• The Subsidiary REMIC shall consist of all of the assets constituting the Trust Fund corresponding to Collateral Group 1, Collateral Group 2, Collateral Group 3, and Collateral Group 4 (exclusive of the Class P Prepayment Charges) and shall be evidenced by the uncertificated interests set forth below that shall be designated as REMIC regular interests (the “Subsidiary REMIC Regular Interests”).

• The Subsidiary REMIC shall consist of all of the assets constituting the Trust Fund corresponding to Collateral Group 1, Collateral Group 2 and Collateral Group 3 (exclusive of the Class P Prepayment Charges) and shall be evidenced by the uncertificated interests set forth below that shall be designated as REMIC regular interests (the “Subsidiary REMIC Regular Interests”).

• The Subsidiary REMIC shall consist of all of the assets constituting the Trust Fund corresponding to Collateral Group 1, Collateral Group 2, Collateral Group 3, and Collateral Group 4 (exclusive of the Class P Prepayment Charges, the Cap Reserve Fund and the Cap Contract) and shall be evidenced by the uncertificated interests set forth below that shall be designated as REMIC regular interests (the “Subsidiary REMIC Regular Interests”).

• The Applicable Fraction for the portion of each such Pool 1 Mortgage Loan allocated to Collateral Group 2 is (I) 1 minus (II) the quotient of (a)(i) 6.500% minus (ii) the related Net Mortgage Rate divided by (b) 0.250%.

• The Applicable Fraction for the portion of each such Mortgage Loan allocated to Collateral Group 2 is (I) 1 minus (II) the quotient of (a)(i) 7.000% minus (ii) the related Net Mortgage Rate divided by (b) 1.000%.

• The Applicable Fraction for the portion of each such Pool 1 Mortgage Loan allocated to Collateral Group 2 is (I) 1 minus (II) the quotient of (a)(i) 7.500% minus (ii) the related Net Mortgage Rate divided by (b) 0.500%.

More Definitions of Collateral Group 2

Collateral Group 2. The group of Mortgage Loans (or portions thereof) stripped to a rate of 7.50% derived from Subgroup 1-B and Subgroup 1-C.

Collateral Group 2. A group of Mortgage Loans in Subgroup 2-P and Subgroup 2-A or portions thereof that have been stripped to a Net Mortgage Rate of 5.50%. For purposes hereof, Collateral Group 2 shall relate to the Class 2-A1, Class 2-A2, Class 2-A3, Class 2-A4 and Class 2-A5 Certificates.

Collateral Group 2. The group of Mortgage Loans (or portions thereof) stripped to a rate of 0.00%.

Collateral Group 2. The Mortgage Loans in Subgroup A and Subgroup B or portions thereof that have been stripped to an Effective Net Rate of 6.500%, which includes portions of Subgroup B that contribute to the Notional Amount of Class A-IO Certificates and receive no principal.

Collateral Group 2. The Mortgage Loans in Pool 2.