Delinquency Advances definition

Delinquency Advances with respect to any Trust, has the meaning set forth in the related Pooling Agreement.
View Source
Delinquency Advances. For each remittance period for the related Securitization, an amount equal to the sum of the interest portions (net of the Servicing Fees) due, but not collected, with respect to delinquent Mortgage Loans, which the Master Servicer advances to the Trust. The Master Servicer is only required to make Delinquency Advances if the Master Servicer believes, in its good faith business judgment, that such amount will ultimately be recovered from the related Mortgage Loan.
View Source
Delinquency Advances. As defined in Section 4.9(a) of the Sale and Servicing Agreement.
View Source

Examples of Delinquency Advances in a sentence

  • Notwithstanding the foregoing, in the event that the Servicer determines in its reasonable business judgment in accordance with the servicing standards set out herein that any proposed Delinquency Advance would not be recoverable, the Servicer shall not be required to make Delinquency Advances with respect to such Home Equity Loan.

  • Such amounts of the Servicer's own funds so deposited are "Delinquency Advances".

  • In such event, the Servicer will not be required to make any Delinquency Advances, Servicing Advances or any other advances in connection with the Mortgage Loan, and the Servicer will render a Final Recovery Determination in connection with the Mortgage Loan.

  • The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

  • The Servicer shall deliver an Officer’s Certificate of such determination as to why such amount would not be recoverable to the Trustee; the Trustee shall promptly furnish a copy of such notice to the Owners of the Class R Certificates upon request; provided, further, that the Servicer shall be entitled to recover any unreimbursed Delinquency Advances from Liquidation Proceeds for the related Home Equity Loan.

  • To the extent that the Servicer previously has made Delinquency Advances with respect to a Home Equity Loan that the Servicer subsequently determines are Nonrecoverable Advances, the Servicer shall be entitled to reimbursement for such aggregate Nonrecoverable Advances from collections on any Home Equity Loan of the related Group on deposit in the Principal and Interest Account.

  • The Trustee shall, upon receipt thereof, deposit the proceeds of any liquidation of the Trust Estate pursuant to this Article IX to the Certificate Account; provided, however, that any amounts representing unreimbursed Delinquency Advances and Servicing Advances theretofore funded by the Servicer from the Servicer's own funds shall be paid by the Trustee to the Servicer from the proceeds of the Trust Estate.

  • As of the close of business on the last day of a Collection Period, if the Obligor shall be entitled to a rebate of an insurance policy or other ancillary product, then the Servicer may, at its option, advance to the Obligor an amount equal to such rebate to the extent the Servicer expects to recover the amount of the rebate from the insurer, the seller of the ancillary product or another Person (each, a “Rebate Advance” and together with Delinquency Advances, an “Advance”).

  • The Trustee, in its capacity as successor Servicer, immediately will assume all of the obligations of the Servicer to make Delinquency Advances and the Trustee will assume the other duties of the Servicer as soon as practicable, but in no event later than 90 days after the Trustee becomes successor Servicer.

  • If the Trustee is prohibited by applicable law or regulation from obligating itself to make Delinquency Advances or Servicing Advances, then the Trustee will not be obligated to make Delinquency Advances or Servicing Advances, as the case may be.


More Definitions of Delinquency Advances

Delinquency Advances. Any Delinquency Advances funded by the Master Servicer from its own funds are reimbursable from subsequent collections on or with respect to any Mortgage Loan, including Liquidation Proceeds, Insurance Proceeds, Released Property Proceeds, and payments from the related Mortgagor.
View Source
Delinquency Advances. Any payments that Lender makes, in whole or in part, out of its own funds and in accordance with Section 5.02 of this Agreement, in amounts equal to principal and interest owed to Fann▇▇ ▇▇▇ under a Mortgage Loan, calculated at the Pass-Through Rate (not at the default interest rate), solely pursuant to Lender's obligations to Fann▇▇ ▇▇▇ ▇▇▇ not with respect to the Borrower's obligations under that Mortgage Loan.
View Source
Delinquency Advances means, with respect to the Servicing Contracts, all Monthly Advances (as defined in Servicing Contracts) made by the Seller or a predecessor servicer, as the servicer or the subservicer under the Servicing Contracts.
View Source
Delinquency Advances. As defined in Section 8.09(a) hereof.
View Source
Delinquency Advances means the payments made in accordance with Section 3.2, in monthly amounts equal to (a) the principal (including any principal reserve fund payments if required for a mandatory redemption of Bonds) due and owing under a Mortgage Loan, or (b) the principal (including any mandatory redemptions) due and owing on Bonds issued with respect to a Mortgage Loan which has become REO, with, in either case, interest calculated at the rate of interest on the related Note that would have been due on the Mortgage Loan if it were current or had not become REO, which payments are in each case made solely pursuant to Recourse Provider’s obligations to F▇▇▇▇▇ Mae under this Agreement and not with respect to the Borrower’s obligations under that Mortgage Loan. So long as otherwise not included, Delinquency Advances shall include interest as provided in Section 3.1.
View Source
Delinquency Advances. As defined in the Loss Sharing Agreement, any payments that Lender makes, in whole or in part, out of its own funds and in accordance with Section 5.02 of the Loss Sharing Agreement, in amounts equal to principal and interest owed to Fann▇▇ ▇▇▇ under a Mortgage Loan, calculated at the Pass-Through Rate (not at the default interest rate), solely pursuant to Lender's obligations to Fann▇▇ ▇▇▇ ▇▇▇ not with respect to the Borrower's obligations under that Mortgage Loan.
View Source

Related to Delinquency Advances

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

  • Nonrecoverable Administrative Advance means an Administrative Advance that has been determined to be “nonrecoverable” in accordance with the terms of the applicable Servicing Agreement.