Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.
Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.
Mortgage Group Either of Group One or Group Two.
Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.
Mortgage shall have the meaning assigned to such term in the recitals.
Residential mortgage loan means any loan primarily for
Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.
Jumbo Mortgage Loan is a collective reference to Jumbo Mortgage Loans (Standard Limit) and Jumbo Mortgage Loans (Specialty).
Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.
Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.
Mortgage Receivable means a promissory note secured by a Mortgage of which the Borrower or a Subsidiary is the holder and retains the rights of collection of all payments thereunder.
Reverse mortgage means a nonrecourse loan under which both of the following apply:
Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.
Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.
Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.
Timeshare Property means one or more accommodations subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those accommodations.
ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.
Mortgage servicer means the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage servicer for purposes of such mortgage.
EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.
Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.
Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.
Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.
Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.
Purchase Money Mortgage means a mortgage secured by a first lien or junior lien taken or retained by the seller of real property to secure all or part of the purchase price of the property.
Mortgage Sale Agreement means the mortgage sale agreement dated 3 June 2005 as amended and restated on 4 October 2007, 20 May 2008, 23 June 2014, 24 April 2018 and as further amended and restated on 18 _ April 2019 made between Santander UK plc (1) Abbey Covered Bonds LLP (the "LLP") (2) and Deutsche Trustee Company Limited (the "Security Trustee") (3) (as the same may be or have been amended, varied or supplemented from time to time with the consent of those parties).
PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.