Fully Amortizing definition

Fully Amortizing means a Pick-a-Payment mortgage loan in which the Borrower’s Monthly Payment fully covers the interest accrued and due that month, as well as paying a portion of the principal balance such that the balance of the loan should be paid in full at the expiration of the term of the loan if all Monthly Payments are made when due.
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Fully Amortizing means fully amortizing Mortgage Loan; except that such Mortgage Loan may have a payment due at its maturity in excess of its scheduled Monthly Payment.
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Fully Amortizing means the process of evaluating what payment of the principal and
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Examples of Fully Amortizing in a sentence

  • Stratification By Remaining Stated Term (Fully Amortizing Loans Only) Remaining % of Agg.

  • Each Designated Receivable that is a Temporary Interest Free Receivable is an Equal Payment Fully Amortizing Receivable and has an interest free period ranging up to 12 months after its applicable Cutoff Date.

  • Fully Amortizing 20,516.24 Actual/360 4.28000% 0.09363% 4.18637% 1 3/1/2027 NAP NAP 56 NCB ▇▇▇-▇▇▇-▇▇▇ West 11th Street Owners Corp.

  • Each Designated Receivable that ----------------------------------- is a Temporary Interest Free Receivable is an Equal Payment Fully Amortizing Receivable and has an interest free period ranging up to 12 months after its applicable Cutoff Date.

Related to Fully Amortizing

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2009-VFN Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Early Amortization Event means the occurrence of any of the following events:

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Installment Due Date means, for any monthly installment of interest-only or principal and interest, the date on which such monthly installment is due and payable pursuant to Section 3 of this Note.

  • REO Principal Amortization With respect to any REO Property, for any calendar month, the excess, if any, of (a) the aggregate of all amounts received in respect of such REO Property during such calendar month, whether in the form of rental income, sale proceeds (including, without limitation, that portion of the Termination Price paid in connection with a purchase of all of the Mortgage Loans and REO Properties pursuant to Section 9.01 that is allocable to such REO Property) or otherwise, net of any portion of such amounts (i) payable pursuant to Section 3.23(c) in respect of the proper operation, management and maintenance of such REO Property or (ii) payable or reimbursable to the Servicer pursuant to Section 3.23(d) for unpaid Servicing Fees in respect of the related Mortgage Loan and unreimbursed Servicing Advances and P&I Advances in respect of such REO Property or the related Mortgage Loan, over (b) the REO Imputed Interest in respect of such REO Property for such calendar month.