Fraud Loss definition

Fraud Loss. A Liquidated Loan Loss as to which there was fraud in the origination of such Mortgage Loan.

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Fraud Loss. Any Realized Loss or portion thereof sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including by reason of the denial of coverage under any related Primary Insurance Policy.

Fraud Loss. A Realized Loss (or portion thereof) with respect to a Mortgage Loan arising from any action, event or state of facts with respect to such Mortgage Loan which, because it involved or arose out of any dishonest, fraudulent, criminal, negligent or knowingly wrongful act, error or omission by the Mortgagor, originator (or assignee thereof) of such Mortgage Loan, Lender, a Servicer or the Master Servicer, would result in an exclusion from, denial of, or defense to coverage which otherwise would be provided by a Primary Insurance Policy previously issued with respect to such Mortgage Loan.

Examples of Fraud Loss in a sentence

• Notwithstanding anything to the contrary herein, for purposes of determining the Special Hazard Amount, the Fraud Loss Amount and the Bankruptcy Amount as of any date of determination, Special Hazard Losses, Fraud Losses and Bankruptcy Losses paid from Net Monthly Excess Cashflow which would otherwise have been payable to the holders of the Class CE Certificates shall be deemed to have been allocated to the Class CE Certificates.

• Any Fraud Loss will on each Distribution Date be allocated solely to the Subordinate Certificates until the Fraud Coverage Termination Date.

• For purposes of the foregoing, the Trustee shall maintain records relating to the Bankruptcy Amount, Fraud Loss Amount and Special Hazard Amount as in effect from time to time.

• Notwithstanding the foregoing, draws on the Letter of Credit, or payments in lieu thereof, in connection with Fraud Losses shall not exceed in the aggregate Fraud Loss Amount.

• In the event Fraud Loss is incurred by BNYM or its Affiliates and not excludable pursuant to the immediately preceding sentence, the Fund agrees to reimburse BNYM within a reasonable period following its receipt of a request from BNYM and reasonable evidence of the Fraud Loss.

More Definitions of Fraud Loss

Fraud Loss. Any Realized Loss on a Liquidated Mortgage Loan sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, as reported by the applicable Servicer to the Master Servicer.

Fraud Loss. The occurrence of a loss on a Loan arising from any action, event or state of facts with respect to such Loan which, because it involved or arose out of any dishonest, fraudulent, criminal, negligent or knowingly wrongful act, error or omission by the Mortgagor, originator (or assignee thereof) of such Loan, Lender, or the Servicer, would result in an exclusion from, denial of, or defense to coverage which otherwise would be provided by an insurance policy previously issued with respect to such Loan.

Fraud Loss. Realized Losses on Mortgage Loans as to which a loss is sustained by reason of a default arising from fraud, dishonesty or misrepresentation in connection with the related Mortgage Loan, including a loss by reason of the denial of coverage under any related Primary Insurance Policy because of such fraud, dishonesty or misrepresentation.

Fraud Loss. With respect to any Mortgage Loan, any Realized Loss attributable to fraud in the origination of such Mortgage Loan, as reported by the applicable Servicer to the Master Servicer.

Fraud Loss. A loss incurred on a Contract or Mortgage Loan resulting from a Credit Insurer's failure to pay a claim with respect to such Contract or Mortgage Loan on the grounds of fraud in connection with the origination of the Contract or Mortgage Loan or on the grounds of fraud, dishonesty or misrepresentation in connection with the application for any insurance obtained with respect to such Contract or Mortgage Loan.

Fraud Loss. The occurrence of a loss on a Loan, as reported by the related Servicer, arising from any action, event or state of facts with respect to such Loan which, because it involved or arose out of any dishonest, fraudulent, criminal, negligent or knowingly wrongful act, error or omission by the Mortgagor, originator (or assignee thereof) of such Loan, or the related Servicer, would result in an exclusion from, denial of, or defense to coverage which otherwise would be provided by an insurance policy previously issued with respect to such Loan.

Fraud Loss. The occurrence of a loss on a Loan, as reported by the related Servicer, arising from any action, event or state of facts with respect to such Loan which, because it involved or arose out of any dishonest, fraudulent, criminal, negligent or knowingly wrongful act, error or omission by the Mortgagor, originator (or assignee thereof) of such Loan, or the related Servicer, would result in an exclusion from, denial of, or defense to coverage which otherwise would be provided by an insurance policy previously issued with respect to such Loan. F▇▇▇▇▇▇ Mac: The Federal Home Loan Mortgage Corporation, or any successor thereto.