Deficient Loss definition

Deficient Loss means the determination by a court in a bankruptcy proceeding that the value of the collateral is less than the amount of the loan in which case the loss will be the difference between the then unpaid principal balance (or the NPV of a modified loan that defaults) and the value of the collateral so established.
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Examples of Deficient Loss in a sentence

  • U.S. Bank’s Allegedly Deficient Loss Mitigation Practices Relator alleges it consulted with “many people” whose mortgage loans were foreclosed by U.S. Bank (id.

Related to Deficient Loss

  • Deficiency means a defect, flaw, anomaly, failure, omission, interruption of service, or other problem of any nature whatsoever with respect to a Deliverable, including, without limitation, any failure of a Deliverable to conform to or meet an applicable specification. Deficiency also includes the lack of something essential or necessary for completeness or proper functioning of a Deliverable.

  • Portfolio Loss means the loss realized on either (i) a portfolio sale of Single Family Shared-Loss Loans in accordance with the terms of Article IV or (ii) the sale of a loan with the consent of the Receiver as provided in Section 2.7.

  • Deficient housing unit means a housing unit with health and safety code violations that require the repair or replacement of a major system. A major system includes weatherization, roofing, plumbing (including wells), heating, electricity, sanitary plumbing (including septic systems), lead paint abatement and/or load bearing structural systems.

  • Foreclosure Loss means the loss realized when the Assuming Institution has completed the foreclosure on a Single Family Shared-Loss Loan and realized final recovery on the collateral through liquidation and recovery of all insurance proceeds. Each Foreclosure Loss shall be calculated in accordance with the form and methodology specified in Exhibits 2c(1)-(3).

  • Final Shared-Loss Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.