Initial Mortgage Portfolio definition

Initial Mortgage Portfolio means the Initial Mortgage Loans and their Related Security, particulars of which are set out in Appendix A to the Mortgage Sale Agreement but excluding any such Mortgage Loan and its Related Security which has been redeemed in full on or before the Initial Closing Date, and (subject where applicable to the subsisting rights of redemption of the Borrowers) all right, title, interest and benefit of the Seller in and to:
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Initial Mortgage Portfolio means the portfolio of Initial Mortgage Loans and their Related Security, particulars of which are set out in Appendix A to the Mortgage Sale Agreement but excluding any such Mortgage Loan and its Related Security which has been redeemed in full on or before the Initial Closing Date, and (subject where applicable to the subsisting rights of redemption of the Borrowers) all right, title, interest and benefit of the Seller in and to:
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Initial Mortgage Portfolio means the existing portfolio of mortgages that will assembled as of the closing date of the Portfolio Acquisition, to be acquired by the Corporation pursuant to the terms of the Portfolio Acquisition Agreement.
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Examples of Initial Mortgage Portfolio in a sentence

  • Lending Criteria The Legal Title Holder applied the following criteria (the “Lending Criteria”) as of the date of origination of the Mortgage Loans comprising the Initial Mortgage Portfolio: (a) Mortgage Loan – amount the principal amount of the Mortgage Loan at the time of completion of the Mortgage Loan must be at least £10,000.

  • All of the Mortgage Loans in the Initial Mortgage Portfolio are regulated by the CCA (as described under “Regulation of the UK Residential Mortgage Market – Consumer Credit Act 1974” below).

  • Prior to the Closing Date, repayments and prepayments may have occurred in relation to Mortgage Loans which will be included in the Initial Mortgage Portfolio.

  • The Initial Mortgage Portfolio has the general characteristics set out in “Characteristics of the Initial Mortgage Portfolio” below.

  • The only beneficiaries of the Mortgages Trust will be the Issuer and the Seller.The whole beneficial interest in the Initial Mortgage Portfolio and the Related Security that the Seller assigns to the Mortgages Trustee on the Closing Date will form part of the Trust Property.

  • The Initial Mortgage Portfolio consists of Mortgage Loans and their Related Security originated on or prior to 7 January 2013 with an aggregate Principal Balance of £ 11,538,505.06.

  • Characteristics of the Initial Mortgage Portfolio The Initial Mortgage Portfolio had the characteristics indicated in Tables 1 to 18 below as at 31 October 20141.

  • The whole beneficial interest in the Initial Mortgage Portfolio and the Related Security that the Seller assigns to the Mortgages Trustee on the Closing Date will form part of the Trust Property.

  • The Initial Mortgage Portfolio consists of Mortgage Loans and their Related Security originated on or prior to 24 December 2010 with an aggregate Principal Balance of £18,234,187.88.

  • The Standard Documentation identified in Exhibit 1 (Standard Documentation) to this Agreement in respect of the Initial Mortgage Portfolio and, if applicable, the Additional Mortgage Portfolio shall be provided in a document stored upon electronic media (including, but not limited to a CD-ROM format) containing the documents specified in Exhibit 1.


More Definitions of Initial Mortgage Portfolio

Initial Mortgage Portfolio means, (a) in the case of the Minimum Offering, (i) the existing portfolio of mortgages that has been as sembled and f unded b y BCMIC and managed by t he Manager as o f th e closing date o f th e Initial P ortfolio Acquisition and ( ii) s uch ad ditional mortgages f rom B CI as t he M anager d eems ad visable, i n each cas e, w hich w ill be acquired by the Corporation pursuant to the terms of the Initial Portfolio Acquisition Agreement and (b) in the case of the Maximum O ffering, t he ex isting p ortfolio o f mortgages t hat h as b een as sembled an d f unded b y B CMIC an d B CI an d managed b y t he M anager as o f th e c losing d ate o f the Initial P ortfolio Acquisition which will be a cquired by t he Corporation pursuant to the terms of the Initial Portfolio Acquisition Agreement.
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Related to Initial Mortgage Portfolio

  • 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.

  • Commercial Mortgage Loan means a loan secured by a Lien on improved real estate used for commercial purposes.

  • Residential mortgage loan means any loan primarily for

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

  • Initial Mortgage Rate As to each Mortgage Loan, the Mortgage Rate in effect prior to the Initial Adjustment Date.

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

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

  • 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 I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Conventional Mortgage means a mortgage for which the principal amount, at the time of commitment, together with all other equal and prior ranking mortgages: (a) in the case of a property purchase, does not exceed the lower of 75% of the purchase price of the underlying real property securing the mortgage and 75% of the appraised value of the underlying real property securing the mortgage as determined by a qualified appraiser; and (b) in the case of a refinancing, does not exceed 75% of the appraised value of the underlying real property securing the mortgage as determined by a qualified appraiser at the time of such refinancing.

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

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

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

  • Additional Mortgage shall have the meaning assigned to such term in Section 5.10(c).

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

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • 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 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.