FPD Premium definition
FPD Premium. With respect to any First Payment Default Mortgage Loan or purchased by the Seller from ▇▇▇▇▇▇ Brothers Bank, FSB, the excess, if any of the FPD Purchase Price over the Purchase Price for such Mortgage Loan.
FPD Premium. With respect to any First Payment Default Mortgage Loan repurchased under Section 1.04(e) of the Mortgage Loan Sale and Assignment Agreement, the excess, if any of the FPD Purchase Price over the Purchase Price for such Mortgage Loan.
FPD Premium. With respect to any First Payment Default Mortgage Loan, the excess, if any, of the First Payment Default Purchase Price over the Purchase Price. ▇▇▇▇▇▇▇ Mac or FHLMC: ▇▇▇▇▇▇▇ Mac, f/k/a the Federal Home Loan Mortgage Corporation, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto.