MERS Designated Mortgage Loan. Mortgage Loans for which (a) the Seller has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Seller, in accordance with MERS Procedures Manual and (b) the Seller has designated or will designate the Purchaser as the Investor on the MERS System.
MERS Designated Mortgage Loan means a Mortgage Loan that satisfies the definition of the term “MERS Designated Mortgage Loan” contained in the Electronic Tracking Agreement.
MERS Designated Mortgage Loan. Mortgage Loans for which (a) the Responsible Party has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Responsible Party, in accordance with the MERS Procedures Manual and (b) the Responsible Party has designated or will designate the Trust as the Investor on the MERS(R) System.
Examples of MERS Designated Mortgage Loan in a sentence
With respect to each MERS Designated Mortgage Loan, the Seller shall take such actions as are necessary to cause the Purchaser and/or the Purchaser’s designee to be clearly identified as the owner and holder of each such MERS Designated Mortgage Loan on the records of MERS for the purposes of the system of recording transfers on beneficial ownership of mortgages maintained by MERS.
More Definitions of MERS Designated Mortgage Loan
MERS Designated Mortgage Loan. Any Mortgage Loan as to which the related Mortgage, or an Assignment of Mortgage, has been or will be recorded in the name of MERS, as nominee for the holder from time to time of the Mortgage Note.
MERS Designated Mortgage Loan. Each Mortgage Loan that has been originated in the name of, or assigned to, MERS and registered under the MERS System.
MERS Designated Mortgage Loan shall have the meaning assigned to such term in Section 3 of the Electronic Tracking Agreement.
MERS Designated Mortgage Loan means any Mortgage Loan as to which the related Mortgage or Assignment of Mortgage, has been recorded in the name of MERS, as agent for the holder from time to time of the Mortgage Note.
MERS Designated Mortgage Loan means any Mortgage Loan registered with MERS on the MERS System.
MERS Designated Mortgage Loan shall have the meaning assigned thereto in the Custodial Agreement.
MERS Designated Mortgage Loan shall have the meaning assigned to such term in Section 3.