Covered Loans definition

Covered Loans means (a) the Mortgage Loans identified as the “Covered Loans” in The RMBS Trustees’ Motion to (i) Increase the Reserve to $12.143 Billion and (ii) Estimate and Allow Their Claims for Covered Loans at $12.143 Billion Pursuant to Section 502(c) of the Bankruptcy Code (ECF Doc. No. 46078), dated August 22, 2014, filed by the Trustees in the Bankruptcy Proceeding, and (b) the additional Mortgage Loans identified as “Covered Loans” in the Status Report of the RMBS Trustees with respect to Compliance with the Protocol and the Motion to Extend the Overall Claim File Cut-Off Date for Certain Loans under the Protocol Order and For Related Relief (ECF Doc. No. 52342).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Covered Loans means loans originated by Western Sky to individuals identified as Florida residents in Western Sky loan agreements and subsequently purchased by WS Funding and serviced by CashCall or Delbert, specifically including loans owned by Defendants but not paid off by a Florida Borrower.

Covered Loans means Loans acquired by Center Financial or any of its Subsidiaries in an FDIC-assisted acquisition that are subject to a loss sharing agreement with the FDIC.

Examples of Covered Loans in a sentence

• Without limiting the generality of the foregoing, notwithstanding the termination of this Contract for any reason or for no reason, the provisions of this Contract shall continue to apply indefinitely to all obligations and liabilities of the Subscribing Reinsurer for Aggregate Losses (as defined in the Policy), including Losses (as defined in the Policy) on Covered Loans (as defined in the Policy) that Default (as defined in the Policy) on or prior to the date of termination of this Contract.

• Without limiting the generality of the foregoing, notwithstanding the termination of this Contract for any reason or for no reason, the provisions of this Contract shall continue to apply indefinitely to all obligations and liabilities of the Subscribing Reinsurer for Losses (as defined in the Policy) on Covered Loans (as defined in the Policy) that Default (as defined in the Policy) on or prior to the date of termination of this Contract.

• None of the Mortgage Loans are (i) Covered Loans or (ii) High Cost Loans.

• Such cancellation will apply to all Covered Loans regardless of Default status.

• The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under the Credit Insurance Policy and to service the Covered Loans in the manner required by the Credit Insurance Policy.

More Definitions of Covered Loans

Covered Loans means (i) those loans that have coverage in-force as of December 31, 2012, or coverage was in-force prior to a default that existed as of December 31, 2012, listed on Schedule 1 as of the Signing Date, as updated pursuant to Section 3(a), and as finalized with respect to the applicable Other Implementation Date pursuant to Section 3(b), including, for the avoidance of doubt, the Pending Rescission Loans, and (ii) the Recently Rescinded Loans.

Covered Loans in the Status Report of the RMBS Trustees with respect to Compliance with the Protocol and the Motion to Extend the Overall Claim File Cut-Off Date for Certain Loans under the Protocol Order and For Related Relief (ECF Doc. No. 52342).

Covered Loans means the Program Loans funded or purchased by the Pittsburgh Bank on or after May 1, 2006, excluding, however, those Program Loans that the parties agree in writing to exempt from being subject to the Transaction Services Fee requirements of this Agreement.

Covered Loans means those Mortgage Loans identified under the heading “HUD Mortgage Loans – Covered Loans” on the Mortgage Loan Schedule.

Covered Loans means the loans listed on the Covered Loan List.

Covered Loans means Closed-end Credit that is extended to a consumer primarily for personal, family, or household purposes that either:

Covered Loans in The RMBS Trustees’ Motion to (i) Increase the Reserve to $12.143 Billion and (ii) Estimate and Allow Their Claims for Covered Loans at $12.143 Billion Pursuant to Section 502(c) of the Bankruptcy Code (ECF Doc. No. 46078), dated August 22, 2014, filed by the Trustees in the Bankruptcy Proceeding, and (b) the additional Mortgage Loans identified as “Covered Loans” in the Status Report of the RMBS Trustees with respect to Compliance with the Protocol and the Motion to Extend the Overall Claim File Cut-Off Date for Certain Loans under the Protocol Order and For Related Relief (ECF Doc. No. 52342).