Aggregate Loan Balance At any date of determination, the outstanding principal balance of the Mortgage Loans serviced hereunder.
Total loan amount means the principal of a loan minus those points and fees that are included in the principal amount of the loan. For open-end loans, the total loan amount must be calculated using the total line of credit allowed under the residential mortgage loan at closing. [PL 2011, c. 427, Pt. A, §15 (NEW).]
Sixty-Day Delinquency Rate As to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the aggregate Principal Balances of the Mortgage Loans that are (a) 60 or more days delinquent as of the last day of the related Prepayment Period, (b) REO Property or (c) in foreclosure or in bankruptcy, and the denominator of which is the Pool Balance as of the last day of the related Due Period.
Commercial loan means a loan that is not made primarily for
Committed Capital means $20,837,637.00 for 14,129,250 Class A Capital Units to be issued with respect to Members receiving Class A Capital Units in the Reorganization, and, with respect to any additional Members, the purchase price of the Capital Units subscribed for in any subsequent offering pursuant to a subscription agreement that has been accepted by the Company, regardless of whether such purchase price has been fully paid.