Defaulting Mortgage definition

Defaulting Mortgage means a Mortgage in respect of which an Event of Default has occurred which has not been remedied to the satisfaction of the Trust Manager and the Trustee or waived by or on behalf of the Trustee.
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Defaulting Mortgage means a Mortgage in respect of which an Event of Default has occurred which has not been remedied to the satisfaction of the Master Servicer or waived by or on behalf of the Trustee.
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Defaulting Mortgage means an Originated Mortgage in respect of which mortgagor and / or the Borrower is or are in default under the terms thereof which default has not been rectified to the satisfaction of the Originator and the Lender;
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Examples of Defaulting Mortgage in a sentence

  • The Mortgage Manager must notify any Mortgagor or prospective Mortgagor with whom there is a dispute in relation to a Mortgage Document or an application for a Loan (whether in relation to a Defaulting Mortgage or otherwise), which is not settled promptly between the Mortgage Manager and the Mortgagor, of the Dispute Resolution Procedures.

  • If the Property the subject of a Defaulting Mortgage is sold in exercise of a power of sale or foreclosed upon (and at such other times as directed by the Trust Manager), the Mortgage Manager must promptly take all action available to it to claim any amount payable under the Mortgage Insurance Policy relating to that Defaulting Mortgage.

  • The RE will exercise all due diligence and vigilance in protecting the interests of Members on the occurrence of a Defaulting Mortgage.

  • Where there is any inconsistency between the provisions of these clauses 4.2, 4.3 and 4.4, the Supplementary Product Disclosure Statement and the Product Disclosure Statement, the terms of the Supplementary Product Disclosure Statement shall prevail; (g) (i) Subject to clause (g)(ii) below, where a Mortgage is to be transferred or assigned to the RE subject to this clause 4, the Mortgage cannot be a Defaulting Mortgage.

Related to Defaulting Mortgage

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

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

  • Facility Mortgage As defined in Section 13.1.

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

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

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

  • 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.

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

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • 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.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

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

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • Facility Mortgagee means the holder of any Facility Mortgage.

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

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.

  • Existing Mortgages means each of the mortgages, deeds of trust or other agreements made pursuant to the Existing Credit Agreement by any Loan Party in favor of the Agent for the benefit of the Agent and the Lenders.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.