HECM Buyout definition

HECM Buyout means a FHA HECM which is subject to an Early Buyout as a result of the FHA HECM Principal Balance equaling or exceeding the GNMA HECM Repurchase Trigger or that was never pooled in a GNMA Security.
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HECM Buyout means a HECM Loan that is repurchased from a Xxxxxx Mae securitization as a result of the HECM Loan Principal Balance equal or exceeding the Xxxxxx Xxx HECM Repurchase Trigger.
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HECM Buyout means a HECM Loan (a) for which the related HECM Loan Principal Balance equals or exceeds the Xxxxxx Xxx HECM Repurchase Trigger, (b) pursuant to which such HECM Loan is repurchased from a Xxxxxx Xxx securitization, and (c) which may or may not be assigned to FHA after repurchase from a Xxxxxx Xxx securitization. “HECM Loan” shall mean a home equity conversion Mortgage Loan which is secured by a first lien and is insured by FHA. “HECM Loan Principal Balance” shall mean the principal balance of a HECM Loan (including without limitation any and all term, tenure or other monthly disbursements, accrued interest and mortgage insurance premium payments and other amounts capitalized into the principal balance) reduced by all amounts received or collected in respect of principal on such HECM Loan. “HomeSafe Flex” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) a portion of the Principal Limit is funded on the applicable closing date and the remaining amount is funded monthly in fixed amounts. “HomeSafe Second” shall mean, any Proprietary Loan that has each of the following characteristics: (a) it is secured by a second lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) the full amount of the Principal Limit is funded on the applicable closing date. “HomeSafe Select” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a variable rate of interest and (c) it is structured as a line of credit that can be drawn on for up to [*]. “HomeSafe Standard” shall mean any Proprietary Loan that has each of the following characteristics: (a) it is secured by a first lien on the applicable one-to-four family residence, (b) it has a fixed rate of interest and (c) the full amount of the Principal Limit is funded on the applicable closing date. “HUD” shall mean the Department of Housing and Urban Development. “Income” shall mean, with respect to any Mortgage LoanPurchased Asset at any time, any principal thereof then payable and all interest, dividends or other distributions payable thereon, and excluding, for the avoidance of doubt, any amounts permitted to be withheld by the Participation Paying Agent pursuant to the MPSA. “Indebtedness” shall mean, with respect ...
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Examples of HECM Buyout in a sentence

  • With respect to FHA HECMs or HECM Buyout, the Custodian fails to maintain its good standing under the GNMA Guide or FHA Regulations and is not replaced or Seller fails to repurchase all FHA HECMs and HECM Buyout within sixty (60) calendar days.

  • The Membership Certificate represents 100% of the beneficial ownership of the REO Subsidiary, and the REO Subsidiary continues to hold legal title to all REO Property related to foreclosures of HECM Buyout Loans that are subject to a Transaction.

  • The Membership Certificate represents 100% of the beneficial ownership of the REO Subsidiary, and the Seller or the REO Subsidiary, as applicable, continues to hold legal title to all REO Property related to foreclosures of HECM Buyout Loans that are subject to a Transaction.

  • Seller has entered into Interest Rate Protection Agreements with respect to the FHA HECMs (other than in respect of HECM Buyout), having terms with respect to protection against fluctuations in interest rates consistent with its hedging policy.

  • Schedule of Investments (unaudited) (continued)June 30, 2020 Master Total Return Portfolio (Percentages shown are based on Net Assets)Security Par (000) Value Asset-Backed Securities (continued) Finance of America HECM Buyout, Series 2020- HB1, Class M5, 6.00%, 02/25/30(b)(c)(d) USD 1,758 $ 1,291,075 First Franklin Mortgage Loan Trust Series 2004-FFH3, Class M3, (1 mo.

  • This may require electrical re-configuration and the installation of a critical load distribution panel per applicable codes.

  • The unpaid principal balance of the Eligible Mortgage Loans that are HECM Buyout Loans is $ and the Purchase Price to be paid by Xxxxxx for such HECM Buyout Loans shall be Seller an amount equal to $ [insert applicable Purchase Price].

  • With respect to each Mortgage Loan that is a HECM Buyout, the applicable FHA Mortgage Insurance Certificate is in full force and effect, and there exists no defense or impairment to full recovery thereunder to the maximum extent provided thereby, without, in the case of any Mortgage Loan, indemnity to HUD or FHA.

  • In the event that such Buyout Amendment is not entered into by the Seller and Purchasers by the Buyout Amendment Deadline, Seller shall not be permitted to sell any FHA Buyout Loans or HECM Buyout Loans to any Purchaser hereunder pursuant to this Agreement.

  • With respect to HECM Buyout, the Custodian fails to maintain its good standing under the GNMA Guide or FHA Regulations and is not replaced or Seller fails to repurchase all HECM Buyouts within sixty (60) calendar days.

Related to HECM Buyout

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  • Model 4 seller means a seller that is registered under the agreement and is not a model 1 seller, model 2 seller, or model 3 seller.

  • CASA means the Civil Aviation Safety Authority.

  • CAFA means the Class Action Fairness Act of 2005, 28 U.S.C. §§ 1711-1715.

  • aeroplane means a power-driven heavier-than-air aircraft, deriving its lift in flight chiefly from aerodynamic reactions on surfaces which remain fixed under given conditions of flight;

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;

  • Stinger-steered automobile or watercraft transporter means an automobile or watercraft transporter

  • CMA means the Competition and Markets Authority or any successor body;

  • EUMA means the “SAP Delivered Support Agreement” which sets out the terms and conditions under which SAP provides support to End Users and which will be provided by SAP on a deal by deal basis.

  • Immature marijuana plant means a marijuana plant that is not flowering.

  • Self Supply LSE means a Load Serving Entity in one or more Mitigated Capacity Zones that operates under a long-standing business model to meet more than fifty percent of its Load obligations through its own generation and that is a Public Power Entity, “Single Customer Entity,” or “Vertically Integrated Utility.” For purposes of this definition only: (i) “Vertically Integrated Utility” means a utility that owns generation, includes such generation in a non-bypassable charge in its regulated rates, earns a regulated return on its investment in such generation, and that as of the date of its request for a Self Supply Exemption, has not divested more than seventy-five percent of its generation assets owned on May 20, 1996; and (ii) “Single Customer Entity” means an LSE that serves at retail only customers that are under common control with such LSE, where such control means holding 51% or more of the voting securities or voting interests of the LSE and all its retail customers.

  • Subsequent Sale means the sale of additional Securitization Property by the Seller to the Issuer after the Initial Transfer Date, subject to the satisfaction of the conditions specified in the Sale Agreement and the Indenture.

  • Promotores means individuals who are members of the community who function as natural helpers to address some of their communities’ unmet mental health, health and human service needs. They are individuals who represent the ethnic, socio-economic and educational traits of the population he/she serves. Promotores are respected and recognized by their peers and have the pulse of the community’s needs.

  • CFPC means the College of Family Physicians of Canada.

  • SUD means Substance Use Disorder and refers to a condition in which the use of one or more substances leads to a clinically significant impairment or distress per the latest DSM.

  • Economy Transportation means the lowest published available transportation rate for a ticket on a Common Carrier matching the original class of transportation that You purchased for Your Trip.

  • Bidders from a country which shares a land border with India for the purpose of this Order means:

  • Micro-purchase means a purchase of supplies or services, the aggregate amount of which does not exceed the micro-purchase threshold. Micro-purchases comprise a subset of a district's small purchases as defined in 2 C.F.R. 200.320.

  • Retail Purchase means a purchase of any goods or services by the use of the Card and may, at the Bank’s absolute discretion and without prior notice, include or exclude any Card transaction as may be determined by the Bank;

  • Retail transaction means the purchase of prepaid wireless telecommunications service from a seller for any purpose other than resale.

  • Locational UCAP Seller means a Member that sells Locational UCAP.

  • Model 1 seller means a seller registered under the agreement that has selected a certified service provider as the seller's agent to perform all of the seller's sales and use tax functions for agreement sales and use taxes other than the seller's obligation under Section 59-12-124 to remit a tax on the seller's own purchases.

  • SOFRi means the SOFR for:

  • Desjardins Investments means Desjardins Investments Inc. “DFSF” means Desjardins Financial Services Firm Inc. “DSFI” means Desjardins Financial Security Investments Inc. “DSI” means Desjardins Securities Inc.

  • Campfire means a small outdoor fire intended for recreation or cooking not including a fire intended for disposal of waste wood or refuse.

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