Loan Losses definition
Loan Losses means the Unpaid Balance of any Pool Loans that have been, or should have been, written-off as uncollectible by Servicer in accordance with the Credit and Collection Policy.
Loan Losses. The aggregate of the Liquidation Loan Losses for all Liquidated Mortgage Loans.
Loan Losses means sales of loans for less than the loan amount or sales of REOs for less than the loan amount at the time of foreclosure plus expenses and other advances in maintaining and selling the REO.
Examples of Loan Losses in a sentence
The amount of such Liquidated Loan Losses shall be evidenced by an Officer's Certificate to be delivered to the Trustee not later than the Master Servicer Remittance Date.
Prior to each Distribution Date the Master Servicer shall determine the total amount of related Liquidated Loan Losses, if any, that occurred during the related Due Period with respect to the Group I Loans and the Group II Loans.
On each Distribution Date, the principal portion of all Liquidated Loan Losses on the Mortgage Loans in Loan Group II shall be allocated in reduction of the Certificate Principal Balance of the Class II S Certificates, until the Certificate Principal Balance thereof has been reduced to zero.
As of any date of determination, the aggregate of the Liquidation Loan Losses incurred from the Cut-Off Date through the end of the calendar month preceding such date of determination, expressed as a percentage of the sum of the Cut-Off Date Pool Balance and the Original Pre-Funded Amount.
If a Defaulted Home Loan is modified pursuant to this Section in a manner that releases a portion of the Principal Balance thereof, then such released amount shall be included as "Net Loan Losses" hereunder.
More Definitions of Loan Losses
Loan Losses. The aggregate sum of the amount, if any, by which (i) the outstanding principal balance of each Loan that became a Liquidated Loan during the calendar month preceding the month of the related Distribution Date (such principal balance determined immediately before such Loan became a Liquidated Loan) exceeds (ii) the Liquidation Proceeds received during the calendar month preceding the month of the related Distribution Date in connection with the liquidation of such Loan which have not theretofore been used to reduce the Stated Principal Balance of such Loan.
Loan Losses means [*].
Loan Losses means all losses, damages, costs, expenses, Liabilities, Repurchase Price, obligations and claims of any kind, including (a) any identifiable Assignment Losses, DBI Losses, Title Losses or Curtailment Losses that are not yet realized; (b) expenses (including costs of investigation and defense of any claim, Action or proceeding and the reasonable fees and charges of attorneys, accountants and other experts and consultants); (c) fines, penalties, judgments, payments in settlement of a claim, Action or proceeding or made in compliance with any judicial order; (d) payments made and costs incurred under indemnification obligations to other Persons, other out-of-pocket costs and payments (including the expenses of enforcing indemnification rights asserted under this Agreement); and (e) all other Liabilities, Repurchase Price, deficiencies or diminution in value; provided that losses resulting from reduced reimbursements or payments by ▇▇▇▇▇▇ ▇▇▇ (as defined in the MSR Purchase Agreement) or an Agency (as defined in the MSR Purchase Agreement) to a Party (including those arising from diminution in the interest allowance or value of any MSR Asset or any Mortgage Loan Asset) constitute direct, identifiable losses hereunder; provided further, that “Loan Losses” shall exclude punitive, consequential or exemplary damages except to the extent actually payable to a third party. “Losses” means all actual losses, damages, costs, expenses, Liabilities, obligations and claims of any kind, including (a) any identifiable Assignment Losses, DBI Losses, Title Losses or Curtailment Losses that are not yet realized; (b) out-of-pocket expenses (including costs of investigation and defense of any claim, Action or proceeding and the reasonable fees and charges of attorneys, accountants and other experts and consultants); (c) fines, penalties, judgments, payments in settlement of a claim, Action or proceeding or made in compliance with any judicial order; and (d) payments made and costs reasonably incurred under indemnification obligations to other Persons, other out-of-pocket costs and payments (including the expenses of enforcing indemnification rights asserted under this Agreement); provided that losses resulting from reduced reimbursements or payments by ▇▇▇▇▇▇ ▇▇▇ (as defined in the MSR Purchase Agreement) or an Agency (as defined in the MSR Purchase Agreement) to a Party (including those arising from
Loan Losses is defined in Section 2.3(b)(ii) of Exhibit G.
Loan Losses. As defined in the Asset Purchase Agreement. Material Adverse Effect: As defined in the Asset Purchase Agreement. Material Contract: As defined in the Asset Purchase Agreement. Maximum Claim Amount: With respect to each Mortgage Loan, the lesser of the appraised value of the related Mortgaged Property or the maximum loan limit established for a one family residence under Section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (as adjusted where applicable under Section 214 of the National Housing Act). MERS: The Mortgage Electronic Registration System. MERS Mortgage Loan: A Mortgage Loan registered with MERS that either designates MERS as original mortgagee or is assigned to MERS. Mortgage: The mortgage, deed of trust or other instrument securing a Mortgage Note which creates a first lien on an unsubordinated estate in fee simple in real property securing the Mortgage Note, except that with respect to real property located in jurisdictions in which the use of leasehold estates for residential properties is a widely-accepted practice, the mortgage, deed of trust or other instrument securing the Mortgage Note may secure and create a first lien upon a leasehold estate of the Mortgagor. Mortgage File: With respect to each Mortgage Loan, the Collateral File and the Servicing File, including the Mortgage Loan Documents. Mortgage Interest Rate: The annual rate at which interest accrues on any Mortgage Loan in accordance with the provisions of the related Mortgage Note.
Loan Losses. For any Distribution Date, the sum of the aggregate of Liquidated __________ Loan Losses for all __________ Loans that became Liquidated __________ Loans as of such Distribution Date.
Loan Losses has the meaning assigned to it in Section 2(e)(3) hereof.