Negative Amortization Amount definition

Negative Amortization Amount. For any Due Date for any Mortgage Loan, the excess, if any, of (i) the amount of interest accrued on such Mortgage Loan, during the monthly period immediately preceding such Due Date, at the related Mortgage Interest Rate, over (ii) the Minimum Monthly Payment due on such Mortgage Loan on such Due Date.

Negative Amortization Amount. (A) With respect to any Class of Non-Retained Principal Balance Certificates, as the context may require, either (1) the amount added to the Certificate Balance thereof on any Distribution Date following the Anticipated Repayment Date equal to the excess, if any, of (i) the amount of interest accrued at the Pass-Through Rate Adjustment Percentage for such Class of Certificates and such Distribution Date over (ii) the amount of interest actually distributed to such Class of Certificates in respect of such interest at such Pass-Through Rate Adjustment Percentage on such Distribution Date, or (2) the aggregate of all such amounts added to the Certificate Balance thereof on previous Distribution Dates, less the sum of (a) all amounts distributed to Certificateholders of such Class on all previous Distribution Dates as principal in respect of such Negative Amortization Amount, and (b) the aggregate amount of Adjusted Realized Losses allocated to such Class of Certificates; provided, that such Negative Amortization Amount for any Distribution Date shall not exceed such Class’s proportionate share of the Non-Retained Percentage of the Accrued and Deferred Principal actually added to the principal balance of the Mortgage Loan in respect of the Payment Date related to such Distribution Date. For the avoidance of doubt, with respect to any Distribution Date, the aggregate Negative Amortization Amount for all Classes of Non-Retained Principal Balance Certificates shall not exceed the Non-Retained Percentage of the aggregate Accrued and Deferred Principal actually added to the principal balance of the Mortgage Loan with respect to the Payment Date related to such Distribution Date; and

Negative Amortization Amount with respect to a given Distribution Date. For any Distribution Date, the reduction of the Class Principal Balance of any Class of Certificates and REMIC I Regular Interests pursuant to the definition of "Realized Loss" and the increase in the Class Principal Balance of any Class of Certificates and Regular Interests pursuant to the definition of "Negative Amortization Amount" shall be deemed effective prior to the determination and distribution of principal on such Class pursuant to the definitions of "REMIC I Distribution Amount" and "REMIC II Distribution Amount."

Examples of Negative Amortization Amount in a sentence

• To the extent any Mortgage Loan provides for negative amortization, such as a GPM or GPARM Loan, the Servicer must assure that the Unpaid Principal Balance of such Mortgage Loan never exceeds the related Maximum Negative Amortization Amount, and that the related Monthly Payment is recast as provided for in the Mortgage Note such that the balance fully amortizes within the remaining term of such Mortgage Loan.

• Reductions to principal are no longer included in the calculation of Net Negative Amortization Amount.

• For any Distribution Date and the Class 2A-L and Class 2A-1B-L Regular Interests, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

• For any Distribution Date and the Class 2A-L Regular Interest, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

• For any Distribution Date and the Class 2A-L and Class 2A-1B-L Regular Interests, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass- Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

More Definitions of Negative Amortization Amount

Negative Amortization Amount. As to a Mortgage Asset, the excess, if any, of interest accrued at the Note Rate for any month over the greater of (a) the amount of the Monthly Payment for such month and (b) the interest received in respect of such month.

Negative Amortization Amount. For any Due Date for any Mortgage Loan, the excess, if any, of (i) the amount of interest accrued on such Mortgage Loan, during the monthly period immediately preceding such Due Date, at the related Mortgage Interest Rate, over (ii) the Monthly Payment due on such Mortgage Loan on such Due Date. For any Distribution Date, (i) the aggregate of Negative Amortization Amounts with respect to the Mortgage Loans for the Due Date in the calendar month of such Distribution Date shall be allocated to each Class of Certificates, pro rata according to the amount of interest accrued but unpaid on each such Class, in reduction thereof, and (ii) the Class Principal Balance of each Class of Certificates shall be increased by the amount allocated to such Class in reduction of accrued and unpaid interest pursuant to clause (i) of this sentence.

Negative Amortization Amount. With respect to any Payment Date, the aggregate amount of Negative Amortization with respect to the Group I Loans for the related Due Period.

Negative Amortization Amount. With respect to each Mortgage Loan, the excess, if any, of interest accrued at the related Mortgage Interest Rate for any month over the greater of (i) the amount of the Monthly Payment for such month and (ii) the interest received in respect of such month. "Net Rate": Unless otherwise provided in the Trust Agreement, with respect to each Mortgage Loan and Distribution Date, the related Mortgage Interest Rate less the sum of the Servicing Fee Rate, the Master Servicing Fee Rate, the Trustee Fee Rate and the Credit Enhancement Fee Rate relating thereto. "New Lease": Any lease of REO Property entered into on behalf of the Trust, including any lease renewed, modified or extended on behalf of the Trust (if the Trustee, the Master Servicer, a Servicer or an agent of the foregoing has the right to renegotiate the terms of such lease).

Negative Amortization Amount. For any Due Date for any Mortgage Loan, the excess, if any, of (i) the amount of interest accrued on such Mortgage Loan, during the immediately preceding calendar month, at the related Mortgage Interest Rate, over (ii) the Monthly Payment due on such Mortgage Loan on such Due Date. For any Distribution Date, the aggregate of Negative Amortization Amounts with respect to the Group I Loans for the Due Date in the calendar month of such Distribution Date shall be added to the Class Principal Balances of the Class I-A and Group B Certificates. Such aggregate amount shall be allocated pro rata between the Class I-A Certificates, on the one hand, and the Group B Certificates, on the other hand, according to the Class I-A Principal Balance and the Subordinate Component Balance for Loan Group I, respectively (and the portion so allocated to the Group B Certificates shall be allocated among the Classes of Group B Certificates according to Class Principal Balance).

Negative Amortization Amount with respect to a given Distribution Date. For any Distribution Date, the reduction of the Class Principal Balance of any Class of Certificates pursuant to the definition of "Realized Loss" and the increase in the Class Principal Balance of any Class of Certificates pursuant to the definition of "Negative Amortization Amount" shall be deemed effective prior to the determination and distribution of principal on such Class pursuant to the definition of "Distribution Amount." Notwithstanding the foregoing, any amounts distributed in respect of principal losses pursuant to paragraph (a)(xxii) or (b)(xxii) of the definition of "Distribution Amount" shall not cause a further reduction in the Class Principal Balances of the Certificates.

Negative Amortization Amount. For any Due Date for any Mortgage Loan, the excess, if any, of (i) the amount of interest accrued on such Mortgage Loan, during the monthly period immediately preceding such Due Date, at the related Mortgage Interest Rate, over (ii) the Monthly Payment due on such Mortgage Loan on such Due Date. For any Distribution Date and for any Loan Group, (i) the aggregate of Negative Amortization Amounts with respect to the Mortgage Loans in such Loan Group for the Due Date in the calendar month of such Distribution Date shall be allocated to each Class of Group I or