MERS Eligible Mortgage Loan definition

MERS Eligible Mortgage Loan. Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

MERS Eligible Mortgage Loan. Any Mortgage Loan that under applicable law and investor requirements is recordable in the name of MERS in the jurisdiction in which the related Mortgaged Property is located.

MERS Eligible Mortgage Loan is hereby added to Article I immediately following the definition of “MERS” to read as follows:

Examples of MERS Eligible Mortgage Loan in a sentence

• In the case of each MERS Eligible Mortgage Loan, at the request of the Master Servicer, the Servicer shall record the Assignment of Mortgage into MERS and shall create MERS identification numbers relating to each Mortgage Loan in the manner required by MERS.

• In addition to the foregoing, in connection with the assignment of any MERS Mortgage Loan or MERS Eligible Mortgage Loan, the Sellers agree that on or prior to each Funding Date it will cause, at its own expense, the MERS System to indicate that the related Mortgage Loans have been assigned by the applicable Seller to the Purchaser in accordance with this Agreement by entering in the MERS System the information required by the MERS System to identify the Purchaser as owner of such Mortgage Loans.

More Definitions of MERS Eligible Mortgage Loan

MERS Eligible Mortgage Loan. MERS Mortgage Loan" and "Monthly Advance" are hereby added to Article I immediately following the definition of "LPMI Fee" to read as follows:

MERS Eligible Mortgage Loan. “MERS Mortgage Loan” and “Monthly Advance” are hereby added to Article I immediately following the definition of “LPMI Fee” to read as follows: MERS: Mortgage Electronic Registration Systems, Inc., a Delaware corporation, or any successor in interest thereto.