Description of the Mortgage Loans definition

Description of the Mortgage Loans. Fixed rate mortgage loans with original terms of 360 and 240 and months and an approximate unpaid principal balance of $320MM. Loan Balance Permitted Variance: Plus or minus 5%. Permitted Substitution Percentage: 10%. Initial Credit Enhancement: Not less than 7.0%. Underwritten Senior Securities Balance: Approximately $298MM Underwritten Senior Securities Balance Permitted Variance: Plus or minus 5%. AAA Purchase Price Percentage: 102.3125%. Underwritten Senior Securities Interest Rate: 2.5%. Additional Fees or Discounts: None. Subordinate Securities Underwriting Fee Percentage: 25 bps. Expense Allocation: Redwood shall pay all expenses in connection with the Transaction and the Offering other than (a) the fees and expenses of legal counsel to RBS and (b) the expenses of any underwriter’s due diligence conducted by RBS on the Mortgage Loans. The expenses for which Redwood shall be responsible shall not include any fee or discount to RBS in respect of the Underwritten Senior Securities but shall include, but not be limited to: (i) any Subordinate Securities Underwriting Fees, if applicable; (ii) fees and expenses of Redwood’s counsel and auditors in connection with the Transaction; (iii) the fees of the Rating Agencies; (iv) the fees and expenses of any accounting firm that is engaged to deliver comfort letters in respect of the Offering Documents, any static pool information, any term sheet or other marketing materials; (v) the fees and expenses of the Trustee, the Issuing Entity, the Servicers, the Custodian, the Master Servicer and their respective counsel and auditors in connection with the Transaction; (vi) the cost of delivering the Underwritten Securities to the Underwriter; (vii) expenses of preparing, printing, filing and reproducing the Offering Documents, the SEC registration statement relating to the 2012-5 Securities, the Basic Transaction Documents and the 2012-5 Securities; (viii) all transfer taxes, if any, with respect to the sale and delivery of the Underwritten Securities to the Underwriter; (ix) any expenses for the qualification of the Underwritten Securities under “blue sky” or state securities laws, including filing fees and the fees and disbursements of counsel to the Underwriter in connection therewith and with the preparation of any “blue sky” survey; and (x) all other costs and expenses incidental to the Offering or the Transaction that are not otherwise specifically provided for herein. Targeted Closing Date: RBS and Redwood shal...
Sample 1
Description of the Mortgage Loans. A pool of fully amortizing, one- to four-family, adjustable interest rate, residential first mortgage loans, substantially all of which have original terms to stated maturity of approximately 30 years. Certain of the mortgage loans will require only payments of interest for a term specified in the related mortgage note.
Sample 1
Description of the Mortgage Loans. Fixed rated mortgage loans with an approximate unpaid principal balance of $425 million. Loan Balance Permitted Variance: Plus or minus 5% Permitted Substitution Percentage: 10% Initial Credit Enhancement: Not less than 6.0%. Underwritten Senior Securities Balance: Approximately $397,400,000. Underwritten Senior Securities Balance Permitted Variance: Plus or minus 5%. Initial Purchase Price Percentage: 101.478% Securities Price Adjustment: The Initial Purchase Price Percentage shall be increased or decreased by a percentage equal to:
Sample 1

Examples of Description of the Mortgage Loans in a sentence

  • Deloitte & Touche LLP will review the characteristics of a sample of the Mortgage Loans described in the Final Mortgage Loan Schedule and will compare those characteristics to the description of the Mortgage Loans contained in the Prospectus Supplement under the captions "Summary of Terms - The Mortgage Pool" and "Description of the Mortgage Loans" and in Schedule A thereto.

  • See further section 2 (Risk Factors) and section 6.2 (Description of the Mortgage Loans.) Linear Mortgage Loans:A portion of the Mortgage Loans (or parts thereof) will be in the form of Linear Mortgage Loans.

  • See further section 2 (Risk Factors) and section 6.2 (Description of the Mortgage Loans.).

  • Ried K & Fakler P (2011) Protective effect of lycopene on serum cholesterol and blood pressure: meta-analyses of intervention trials.

  • Interest Rate HedgingThe Mortgage Loan Criteria require that all Mortgage Receivables sold and assigned to the Issuer at the Closing Date either bear a floating rate of interest or a fixed rate of interest for a period of over one calendar month which is subject to a reset from time to time (as further described in chapter Description of the Mortgage Loans below).

  • In respect of each Credit Facility which was initially available in the form of the discounting of bills of exchange or promissory notes, all bills of exchange and promissory notes issued in respect thereof have been cancelled and the contractual terms of such Credit Facility has been expressly or implicitly amended to reduce the availability of the facility to loans and advances of any of the types described in Description of the Mortgage Loans – Mortgage Loans – Types of Loans.

  • However, the Lending Criteria applied by the Seller when originating loans take into account, inter alia, a potential borrower’s credit history, employment history and status, repayment ability and affordability ratio and are utilised with a view, in part, to mitigating the risks in lending to Borrowers in the foregoing categories (see further Description of the Mortgage Loans).

  • Interest rate hedging for CHF Mortgage ReceivablesThe Mortgage Loan Criteria require that the interest rate of each of the CHF Mortgage Receivables sold and assigned to the Issuer at the Closing Date is either fixed, subject to reset from time to time, or variable (as further described in chapter Description of the Mortgage Loans below).

  • We have held that even in cases where the names of two statutes share no words, but still denote similar offenses that differ only in degree, that this is evidence that the Legislature intended the two offenses to be considered the “same.” See id.

  • The range of interest rates is described further in Description of the Mortgage Loans.

Related to Description of the Mortgage Loans

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

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

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Mortgage Loan Package Each pool of Mortgage Loans, which shall be purchased by the Purchaser from the Seller from time to time on each Closing Date.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • Jumbo Mortgage Loan is a collective reference to Jumbo Mortgage Loans (Standard Limit) and Jumbo Mortgage Loans (Specialty).