Loan Modifications definition

Loan Modifications. Unless advance written approval is provided by, or obtained from, the Company, the Insured may not make any change in the terms of a Loan, including the borrowed amount, interest rate, term or amortization schedule of the Loan, except as permitted by terms of the Loan; nor make any change in the Property or other collateral securing the Loan; nor release the Borrower from liability on a Loan; nor subordinate the Second Deed of Trust.
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Loan Modifications means an agreement to change existing loan terms in response to a borrower's long-term inability to repay the loan. Loan modifications typically involve a trial payment plan followed by a reduction of the interest rate, an extension of the length of the loan, a change in the type of loan, e.g. adjustable rate to fixed rate, or any combination.
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Examples of Loan Modifications in a sentence

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.35 9.999999 Modified Loans Only >= 0 and >= 1 145 Updated DTI (Back-end) Updated back-end DTI ratio (total monthly debt expense divided by total monthly income) used to qualify the loan modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.075 9.999999 Modified Loans Only >= 0 to <= 1 150 Pre-Modification P&I Payment Scheduled Total Principal And Interest Payment Amount Preceding The Modification Effective Payment Date – or if servicer is no longer advancing P&I, the payment that would be in effect if the loan were current.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 156 Forgiven Interest Amount The sum total of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Date 20090914 YYYYMMDD Modified Loans Only “19010101” if unknown 147 Total Capitalized Amount Amount added to the principal balance of a loan due to the modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Integer 36 999 Modified Loans Only >= 0 to <= 120 155 Forgiven Principal Amount The sum total of all principal balance reductions (as a result of loan modification) over the life of the loan.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 148 Total Deferred Amount Any non-interest-bearing deferred amount (e.g., principal, interest and fees).

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Date 20090914 YYYYMMDD Modified Loans Only “19010101” if unknown 154 Pre-Modification I/O Term Interest Only Term (in months) preceding The Modification Effective Payment Date.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.35 9.999999 Modified Loans Only >= 0 and >= 1 146 Modification Effective Payment Date Date of first payment due post modification.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.015 9.999999 Modified Loans Only >= 0 to <= 1 152 Pre-Modification Subsequent Interest Rate Cap Maximum increment the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.

  • Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 149 Pre-Modification Interest (Note) Rate Scheduled Interest Rate Of The Loan Immediately Preceding The Modification Effective Payment Date.

Related to Loan Modifications

  • Loan Modification Agreement means a Loan Modification Agreement, in form reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.24.

  • Loan Modification Offer has the meaning specified in Section 2.24(a).

  • CREFC® Loan Modification Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Modification Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Material Modifications means and include any modification to an existing RPTs, in aggregate with a related party, having variance of 25% in value of the transaction already approved by the Audit Committee or Board or Shareholders, as the case may be, or such modification as may be decided by the Audit Committee.

  • Minor modification means a modification that does not significantly alter the nongovernmental function or purpose of the software or is of the type customarily provided in the commercial marketplace.