Home Equity Mortgage Loan definition

Home Equity Mortgage Loan means a Mortgage Loan, other than a High LTV Mortgage Loan and a Multifamily/Mixed Use Mortgage Loan, which fails to satisfy all of the requirements for sale to FNMA or FHLMC under their standard Mortgage Loan purchase programs, but which satisfies all of the applicable requirements of the Underwriting Guidelines set forth on Exhibit I hereto.
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Home Equity Mortgage Loan means a home equity mortgage loan originated in accordance with the criteria established by Buyer, as determined by Buyer in its sole discretion.
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Related to Home Equity Mortgage Loan

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Home Equity Loan means a loan or funded or unfunded portions of a line of credit secured by a mortgage on a one-to four-family residences or stock of cooperative housing association, where the Failed Bank did not have a first lien on the same property as collateral.

  • Eligible Mortgage Loan means a Mortgage Loan:

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Original Mortgage Loan The mortgage loan refinanced in connection with the origination of a Refinancing Mortgage Loan.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.