Interest only means a closed-end loan that permits one or
Interest only means a closed-end loan that permits one or more payments of interest without any reduction of the principal balance of the loan, other than the first payment on the loan.
Interest only. Instrument(s)" shall, as to that particular Certificate, have the meaning ascribed to the term "Class S Certificate", "Class IS Certificate, "Class IIS Certificate" or a similar phrase describing an interest only security in the respective Sale Agreement arising from the Securitization pursuant to which such security is issued, which security represents the undivided interest of the Borrower in all or a portion of the interest payments due on certain loans securitized in that Securitization.
Examples of Interest only in a sentence
Collateralized Mortgage Obligation Interest Only Strip—Pays a fixed or variable rate of interest based on mortgage loans or mortgage pass-through securities.
More Definitions of Interest only
Interest only. – this means that you will only pay the interest owed on your loan during this period and not the capital amount owed
Interest only. – this means that you will only pay the interest owed on your loan for an agreed period and not the capital amount owed
Interest only means that all of your loan payments go towards the interest, so the principal is not paid off until the very end of the mortgage. Usually this big amount is paid off by re-financing which is borrowing again, or by selling the house.
Interest only has the meaning given to it in Section E.2.c of the Servicing Guidelines.
Interest only means when the loan agreement allows the
Interest only. Components: Component A-7-2, Component A-7-3 and Component A-7-5 of the Class A-7 Certificates.