EBO Loans definition
EBO Loans means any Mortgage Loan owned by a Subject Company at the time immediately prior to the Effective Time and acquired as a result of purchasing the Mortgage Loan out of a GNMA pool, accrued and unpaid interest thereon and any related outstanding Advances.
Examples of EBO Loans in a sentence
To the extent Subservicer reasonably determines that available amounts in the Custodial Account or Funding Reserve Account will not be adequate to fund expected Monthly Advances, Servicing Advances, Compensating Interest payments, buyouts of EBO Loans or other repurchases of Mortgage Loans, the Owner/Servicer shall within two (2) Business Days of receipt of the Subservicer’s request and supporting documentation deposit into the Funding Reserve Account amounts sufficient to fund the expected shortfall.