Life Mortgage Loan definition

Life Mortgage Loan means a mortgage loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the relevant Insurance Company;
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Life Mortgage Loan means a mortgage loan or part thereof in respect of which the Borrower is not required to repay until maturity, but instead pays on a monthly basis a premium to the Insurance Company. Life Mortgage Loan with the possibility of a Savings Element means a mortgage loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the Insurance Savings Participant under a Life Insurance Policy with the possibility of a Savings Element. Life Mortgage Receivable means the Mortgage Receivable resulting from a Life Mortgage Loan. List of Mortgage Loans means, at each Transfer Date, the list attached as annex 1 to the Deed of Assignment, Retransfer, Pledge and Release, and at each CBC Payment Date, a list of all Mortgage Loans held by the CBC at such time.
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Examples of Life Mortgage Loan in a sentence

  • The Deduction Risk for Mortgage Receivables relating to a Life Mortgage Loan falling under this category 3 in respect of which the related Mixed Insurance Policy is entered into by the Borrower with a Savings Insurance Company will not be catered for.

  • The Mortgage Loan to which a Mortgage Receivable relates is either an Interest-only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, an Investment Mortgage Loan, a Life Mortgage Loan, a Savings Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, or any combination of the foregoing.

  • It is the intention that a Life Mortgage Loan will be fully repaid by means of the proceeds of the Life Insurance Policy.

  • Life Mortgage LoansUnder a Life Mortgage Loan, no principal is paid until maturity but instead the Borrower pays a premium on a monthly basis to the relevant Insurance Company under a Life Insurance Policy taken out with such Insurance Company.

  • Under or pursuant to the Mortgage Receivables Purchase Agreement the Seller warrants and represents that if the relevant Mortgage Receivableresults from a Life Mortgage Loan or Savings Mortgage Loan, all receivables under the relevant Mixed Insurance Policy have been validly pledged by the relevant Borrower to the Seller, which pledge has been notified to the relevant insurer.

  • The SCS focuses on the timely and effective dissemination of project activities, findings, and results, to stakeholders within and outside the project sites, including decision makers and other donors and protected area managers.

  • WESTERN AUSTRALIAN INDUSTRIAL RELATIONS COMMISSION PARTIES RICHARD CHARLES WHYTEAPPLICANT -v- NARROGIN BRICKRESPONDENTCORAM COMMISSIONER S WOODDELIVERED FRIDAY, 13 JULY 2001FILE NO/S APPLICATION 1869 OF 2000, APPLICATION 651 OF 2001CITATION NO.

  • Under a Life Mortgage Loan a Borrower pays no principal towards redemption until maturity of such Life Mortgage Loan.

  • In respect of a Life Mortgage Loan, the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the relevant Insurance Company.

  • Under or pursuant to the Mortgage Receivables Purchase Agreement the Seller warrants and represents that if the relevant Mortgage Receivable results from a Life Mortgage Loan, all receivables under the relevant Mixed Insurance Policy have been validly pledged by the relevant Borrower to the Seller, which pledge has been notified to the relevant insurer.

Related to Life Mortgage Loan

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).