Group II Mortgage Loans definition

Group II Mortgage Loans. The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Group II Mortgage Loans and "Group III Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Dep▇▇▇▇▇r," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2007 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") an▇ ▇▇▇C Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-14 Certificates required to be distributed to Holders of the Class I-A-14 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-14 Certificates applicable to each Distribution Date will be 5.750% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-14 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as...

Group II Mortgage Loans. The Mortgage Loans related to Loan Group II.

Examples of Group II Mortgage Loans in a sentence

On any Distribution Date on which the aggregate Stated Principal Balance of the Group II Mortgage Loans is less than 5% of the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the Cut-off Date, Olympus will have the option to purchase, in whole, from the Trust Fund all remaining Group II Mortgage Loans and all property acquired in respect of such Mortgage Loans at a purchase price determined as provided in the Agreement.
For purposes of the calculations described in this paragraph, percentages of the Group II Mortgage Loans will be based on the Stated Principal Balance of the Initial Group II Mortgage Loans as of the Cut-off Date and the Stated Principal Balance of the Subsequent Group II Mortgage Loans as of the related Subsequent Cut-off Date.
If the Uncertificated Principal Balance of REMIC 1 Regular Interest IIX has been reduced to zero, Realized Losses on the Group II Mortgage Loans shall be allocated to the remaining REMIC 1 Group II Regular Interests in ascending numerical order, in each case until the Uncertificated Principal Balance of such REMIC 1 Regular Interest has been reduced to zero.
Realized Losses on the Group II Mortgage Loans shall be allocated by the Trustee on each Distribution Date to REMIC 1 Regular Interest IIX.
Any excess funds attributable to the Group I Mortgage Loans shall first be applied to reimburse prior losses on the Group II Mortgage Loans and then distributed to the LR Interest.

More Definitions of Group II Mortgage Loans

Group II Mortgage Loans means a pool of fixed- and adjustable-rate mortgage loans, as identified in the related Mortgage Loan Schedule.

Group II Mortgage Loans. Approximately $384.8 million of Mortgage Loans that predominantly have original principal balances that do not conform to the original principal balance limits for one- to four-family residential mortgage loan guidelines for purchase by Freddie Mac.

Group II Mortgage Loans. The pool of Mortgage Loans identified in the Mortgage Loan Schedule as having a Mortgage Rate which is adjustable, including any Mortgage Loans delivered in replacement thereof.

Group II Mortgage Loans. The Mortgage Loans allocated to Group II which primarily support the Group II Certificates.

Group II Mortgage Loans. Those Mortgage Loans listed on Exhibits F-1B and F-3B attached hereto. Group II Pool Balance (Non-PO Portion): As of any Distribution Date, the sum of the amounts for each Group II Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan.

Group II Mortgage Loans. The Mortgage Loans identified as such on the Mortgage Loan Schedule. Group II Non-Offered Subordinate Certificates: The Class II-B-4, Class II-B-5, Class II-B-6 and Class II-XP Certificates. Group II Offered Certificates: The Group II Senior Certificates and the Group II Offered Subordinate Certificates. Group II Offered Subordinate Certificates: The Class II-B-1, Class II-BX-1, Class II-B-2, Class II-BX-2 and Class II-B-3 Certificates.

Group II Mortgage Loans. The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans. HomEq: HomEq Servicing Corporation, a New Jersey corporation, and its successors in interest.