Mortgage Revenue Bonds (MRB) definition

Mortgage Revenue Bonds (MRB) or “Tax Exempt Bonds” means bonds issued by state designated issuers, including MFA, which may be used to finance HTC Projects subject to project allocations made by the State Board of Finance.

Examples of Mortgage Revenue Bonds (MRB) in a sentence

  • Single‐Family Mortgage Revenue Bonds (MRB) Program: This uses the proceeds from mortgage revenue bonds from statewide qualified lending institutions to offer below‐market mortgage loans to first‐time home buyers with low, moderate and or middle incomes.

  • Mortgage Revenue Bonds (MRB) - Mortgage Interest of $100.2 million is down 9.6% over this same time last year, while Bond Interest of $64 million is decreased of approximately 12.5%.

  • The second application was received from the California Department of Veterans Affairs and requested $150,000,000 of Single Family Housing allocation for the issuance of Mortgage Revenue Bonds (MRB) under a statewide single family homeownership program for qualifying Veterans.

  • Mortgage Revenue Bonds (MRB): Proceeds used to finance low-cost mortgages for lower-income first-time homebuyers or the production of apartments at rents affordable to lower-income families.

  • RIHousing funds loans with the proceeds from the sale of tax-exempt Mortgage Revenue Bonds (MRB), through Ginnie Mae MBS (Mortgage-Backed Securities), or they have been sold to the Federal National Mortgage Association (“Fannie Mae”).

  • The Ohio Housing Finance Agency (OHFA) is seeking proposals from entities qualified to perform rebate calculations and provide legal opinions (Rebate Analyst) relating to OHFA’s Mortgage Revenue Bonds (MRB) under multiple indentures as specified in this Request for Proposal (RFP).

  • Mortgage Revenue Bonds (MRB) — State and local housing finance agencies (HFAs) sell tax-exempt bonds and use the money that is raised to lend to first-time homebuyers.

  • In respect of transfers or payments made to a eWallet from an FNB transactional account using GEO payments, there is a cost, the pricing applied is dependent on the pricing option selected by the Sender.

  • In FY2003, the AzHFA issued Mortgage Revenue Bonds (MRB) in the amount of $2.5 million.The MRB program assists in providing a mortgage rate that is typically below the average mar- ket rate.

  • Robert Gardiner Treasurer Northern Trust, NAArizona Housing Finance Authority approved the issuance of up to $25 million in Mortgage Revenue Bonds (MRB) at its meeting on December 10.

Related to Mortgage Revenue Bonds (MRB)

  • Revenue bonds means the following types of instruments payable from the sources provided in the Central Valley Project Act: revenue bonds, notes, refunding bonds, refunding notes, bond anticipation notes, certificates of indebtedness, and other evidences of indebtedness.

  • Revenue bond means any bond, note, or other evidence of

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Refunding Bonds means Bonds issued pursuant to provisions of this Master Indenture, the proceeds of which are used to refund one or more Series of Outstanding Bonds.

  • Mortgage-backed security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Mortgage-backed Securities means securities that are secured or otherwise backed by Mortgage Loans.

  • Refunding Bond means any Bond authenticated and delivered on original issuance pursuant to the Second Resolution for the purpose of refunding any Outstanding Bonds, or thereafter authenticated and delivered pursuant to the Second Resolution in lieu of or substitution for such Bond.

  • Net Mortgage Pass-Through Rate (a) With respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on a 30/360 Basis, for any Distribution Date, the Net Mortgage Rate in effect for such Mortgage Loan during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date; and (b) with respect to any Mortgage Loan (including an REO Mortgage Loan) that accrues interest on an Actual/360 Basis, for any Distribution Date, the annualized rate at which interest would have to accrue in respect of such Mortgage Loan on a 30/360 Basis in order to produce the aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued) in respect of such Mortgage Loan (adjusted to the related Net Mortgage Rate and, if applicable, exclusive of any Excess Interest) during the one-month accrual period applicable to the Due Date for such Mortgage Loan that occurs in the same month as that Distribution Date. However, with respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, when determining: (i) the related Net Mortgage Pass-Through Rate for the Distribution Date in January (except during a leap year) or February of any year subsequent to 2017 (in any event unless that Distribution Date is the final Distribution Date), the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to exclude related Withheld Amounts to be transferred to the Interest Reserve Account in such month; or (ii) the related Net Mortgage Pass-Through Rate for the Distribution Date in March (or in February if the final Distribution Date occurs in such particular month of February) in any year subsequent to 2017, the “aggregate amount of interest actually accrued (or, in the event of a voluntary or involuntary principal prepayment affecting same, that otherwise would have accrued)”, as referred to in clause (b) of the preceding sentence, shall be deemed to include related Withheld Amounts to be deposited in the Lower-Tier REMIC Distribution Account for distribution on such Distribution Date. In addition, the Net Mortgage Pass-Through Rate with respect to any Mortgage Loan for any Distribution Date shall be determined without regard to: (i) any modification, waiver or amendment of the terms of such Mortgage Loan, whether agreed to by the Master Servicer, the Special Servicer, an Outside Servicer or an Outside Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the related borrower; (ii) the occurrence and continuation of a default under such Mortgage Loan; (iii) the passage of the related maturity date or, in the case of an ARD Mortgage Loan, the related Anticipated Repayment Date; and (iv) the related Mortgaged Property becoming an REO Property.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Renewable Energy Certificates or “RECs” shall mean all of the Certificates and any and all other Environmental Attributes associated with the Products or otherwise produced by the Facility which satisfy the RPS for a RPS Class I Renewable Generation Unit, and shall represent title to and claim over all Environmental Attributes associated with the specified MWh of generation from such RPS Class I Renewable Generation Unit.

  • Adjusted Net Mortgage Interest Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Interest Rate less the Expense Fee Rate.

  • Outstanding Bonds means any Bonds not redeemed or otherwise discharged.

  • Initial Mortgage Rate As to each Mortgage Loan, the Mortgage Rate in effect prior to the Initial Adjustment Date.

  • Pollution control facilities means water and air pollution control equipment and solid waste disposal facilities or any of them.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Series 2020 Bonds means the Series 2020A Bonds and the Series 2020B Bonds.

  • Pollution control project means any activity or project at an existing electric utility steam generating unit for purposes of reducing emissions from such unit. Such activities or projects are limited to:

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • Tax Exempt Bond-Financed Development means a Development which has been financed by the issuance of tax-exempt bonds subject to applicable volume cap pursuant to Section 42(h)(4) of the IRC.

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Existing Bonds means the following obligations of Seller: