DPA Amount definition

DPA Amount means the amount of down payment and closing cost assistance (if any) available with respect to a Mortgage Loan bearing a particular interest rate.
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Examples of DPA Amount in a sentence

  • Under the Programs, the DPA Amount shall be initially funded by the Lender.

  • The Servicer shall be reimbursed by the Corporation or the Trustee, as applicable, for the DPA Amount (i) at the same time as the payment of the MBS Certificate Sale Price (and may be included in the MBS Certificate Sale Price) or (ii) through an alternate payment process agreed to by the Corporation and the Servicer.

  • The Corporation shall establish the DPA Amounts and is under no obligation to provide any DPA Amount.

  • The Corporation may in its discretion determine to terminate the process for funding DPA Amounts described in the preceding paragraph, and instead (i) fund the DPA Amount directly or (ii) reimburse the Lender directly for its advancement of the DPA Amount; provided that in either case the Corporation shall provide reasonable advance notice to the Servicer.

  • Initially, the Corporation will fund a DPA Amount in the form of a grant.

  • The Mortgage Loan Price shall be established by the Corporation and shall take into account the outstanding principal amount of the Mortgage Loan at the time of purchase, the amount of Lender compensation, the Corporation’s Program compliance fee, reimbursement for DPA Amount advanced by the Lender, and any other applicable amounts, all of which shall be consistent with the provisions of this Agreement and the Mortgage Origination Agreements.