Hyper-Amortization Loan definition

Hyper-Amortization Loan. A Mortgage Loan that provides for, if such Mortgage Loan is not paid in full prior to or on its Anticipated Repayment Date, (i) the accrual of Additional Interest thereon and (ii) the application (in reduction of the outstanding principal of such Mortgage Loan) of an amount (in addition to the principal portion of the required Monthly Payment) equal to the excess (if any) of certain net cash flow from the related Mortgaged Property over the related Monthly Payment.
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Hyper-Amortization Loan. A Mortgage Loan that provides for the accrual of Deferred Interest thereon if such Mortgage Loan is not paid in full on or prior to its Hyper-Amortization Date.
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Hyper-Amortization Loan means any Mortgage Loan that provides for a Balloon Payment on a stated date prior to its Stated Maturity Date, and provides for an increased Mortgage Rate and/or rate of principal amortization following such date if the Mortgage Loan remains outstanding.
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Examples of Hyper-Amortization Loan in a sentence

  • As to each Corrected Mortgage Loan, subject to the exceptions provided for in the two preceding sentences, the Workout Fee shall be payable from, and shall be calculated by application of the Workout Fee Rate to, each collection of interest (other than Default Interest and, in the case of a Hyper-Amortization Loan after its Anticipated Repayment Date, Additional Interest) and principal received on such Mortgage Loan for so long as it remains a Corrected Mortgage Loan.

  • As to each Corrected Mortgage Loan, subject to the exceptions provided for in the preceding sentence, the Workout Fee shall be payable from, and shall be calculated by application of the Workout Fee Rate to, each collection of interest (other than Default Interest and, in the case of a Hyper-Amortization Loan after its Anticipated Repayment Date, Excess Interest) and principal received on such Mortgage Loan for so long as it remains a Corrected Mortgage Loan.

  • Notwithstanding the foregoing, any interest collected on a Hyper-Amortization Loan that constitutes Excess Interest shall be applied after the payment of the principal then due and owing on such Mortgage Loan.

  • As to each Corrected Mortgage Loan, subject to the exceptions provided for in the two preceding sentences, the Workout Fee shall be payable from, and shall be calculated by application of the Workout Fee Rate to, each collection of interest (other than Default Interest and, in the case of a Hyper-Amortization Loan after its Anticipated Repayment Date, Excess Interest) and principal received on such Mortgage Loan for so long as it remains a Corrected Mortgage Loan.


More Definitions of Hyper-Amortization Loan

Hyper-Amortization Loan means, the Mortgage Loans identified on the Mortgage Loan Schedule as hyper-amortization loans.
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Related to Hyper-Amortization Loan

  • Term Loan Amortization Date is June 1, 2021; provided, however, upon the occurrence of the Positive Data Event, the Term Loan Amortization Date shall be June 1, 2022.

  • REO Principal Amortization With respect to any REO Property, for any calendar month, the excess, if any, of (a) the aggregate of all amounts received in respect of such REO Property during such calendar month, whether in the form of rental income, sale proceeds (including, without limitation, that portion of the Termination Price paid in connection with a purchase of all of the Mortgage Loans and REO Properties pursuant to Section 9.01 that is allocable to such REO Property) or otherwise, net of any portion of such amounts (i) payable pursuant to Section 3.23(c) in respect of the proper operation, management and maintenance of such REO Property or (ii) payable or reimbursable to the Servicer pursuant to Section 3.23(d) for unpaid Servicing Fees in respect of the related Mortgage Loan and unreimbursed Servicing Advances and P&I Advances in respect of such REO Property or the related Mortgage Loan, over (b) the REO Imputed Interest in respect of such REO Property for such calendar month.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Managed Amortization Period means the period from the Closing Date to the Rapid Amortization Commencement Date.