HELOC definition
HELOC means an open or closed home equity revolving line of credit secured by a mortgage, deed of trust or other instrument creating a first or junior lien on the related residential Mortgaged Property, which lien secures the related line of credit.
HELOC means a Mortgage Loan that is a home equity line of credit.
HELOC means a home equity revolving line of credit secured by a first lien or second lien on the related Mortgaged Property.
Examples of HELOC in a sentence
No Underlying Mortgage Loan is a reverse mortgage, a construction mortgage, a rehabilitation mortgage, HELOC or commercial loan.
More Definitions of HELOC
HELOC means a home equity line of credit.
HELOC means home equity line of credit.
HELOC means (i) each adjustable rate home equity revolving credit line loan identified on the Mortgage Loan Schedule on the Closing Date, (ii) any additional such home equity revolving credit line loans identified on the Mortgage Loan Schedule after the Closing Date, as such schedule is amended and supplemented from time to time to reflect the transfer of the Subsequent Mortgage Loans which are HELOCs, the deletions of Deleted Mortgage Loans which are HELOCs and the substitution of Qualified Substitute Mortgage Loans which are HELOCs for Deleted Mortgage Loans (iii) each Mortgage Note evidencing any credit line loan referred to in (i), (ii) or (iii) above, including all amounts now or hereafter due under such Mortgage Notes whether relating to such credit line loans or other loans which may be made from time to time and (iv) the related Mortgage.
HELOC shall have the meaning given to such term in the Marketplace Glossary.
HELOC or "Repurchased Mortgage Loan"; provided, that a Mortgage Loan may be within more than one Class as of any date of determination.
HELOC means each Mortgage Loans identified on the Mortgage Loan Schedule as being a "Home Equity Line of Credit," which Mortgage Loans shall consist of each and every Mortgage Loan assigned to the Issuer that was originated as an adjustable-rate, home equity line of credit.
HELOC means a Mortgage Loan that is a home equity line of credit secured by a mortgage, deed of trust or other instrument creating a first lien or second lien on the related Mortgaged Property, which lien secures the related line of credit.