Examples of Interest-Only Period in a sentence
For the purpose of this procedure, Freddie Mac instructed us to recalculate the “Additional Mortgage Loan Monthly Debt Service Amount (IO)” of any Additional Mortgage Loan with an Interest Only Period as 1/12th of the product of: a.
During the Interest Only Period, the Borrowers shall make payments of interest on each applicable Tranche in accordance with Clause 5.1.1 and Clause 6.1. After the Interest Only Period, the Borrowers shall make payments of principal and interest on each applicable Tranche in accordance with Clause 5.1.1. Notwithstanding the foregoing: A.
Information in the Data Source(s), and the instructions provided by Freddie Mac that are described in the succeeding paragraph(s) of this Item, we recalculated the interest only monthly debt service amount of any Additional Mortgage Loan with an Interest Only Period (the “Additional Mortgage Loan Monthly Debt Service Amount (IO)”).
The original principal balance of the Additional Mortgage Loan with an Interest Only Period, as shown in the applicable Data Source(s), b.