Non-PO Percentage definition

Non-PO Percentage. As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is the Required Coupon. As to any Non-Discount Mortgage Loan, 100%.

Non-PO Percentage. As to any Discount Mortgage Loan, a fraction (expressed as a percentage), the numerator of which is the Net Mortgage Interest Rate as of the Cut-off Date of such Discount Mortgage Loan and the denominator of which is 6.000% for each Group 1 Discount Mortgage Loan, Group 2 Discount Mortgage Loan and Group 3 Discount Mortgage Loan, 4.750% for each Group 4 Discount Mortgage Loan and 5.500% for each Group 5 Discount Mortgage Loan. As to any Mortgage Loan that is not a Discount Mortgage Loan, 100%.

Non-PO Percentage. With respect to each Mortgage Loan, the fraction, expressed as a percentage (but not greater than 100%), the numerator of which equals the applicable Net Mortgage Rate and the denominator of which equals the applicable Remittance Rate.

Examples of Non-PO Percentage in a sentence

• The Trustee shall then with respect to each such Mortgage Loan in each Mortgage Loan Group allocate Realized Losses on a pro rata basis between the PO Percentage of the Scheduled Principal Balance of a Mortgage Loan which suffered a Realized Loss and the Non-PO Percentage of the Scheduled Principal Balance of such Mortgage Loan.

• At the time of any determination, the amount derived by (i) multiplying the outstanding Principal Balance of each Mortgage Loan in Mortgage Group Two on such date of determination by the Non-PO Percentage with respect to such Mortgage Loan and (ii) summing the results.

• In the case of a Non-Discount Mortgage Loan, the Scheduled Principal Balance of such Mortgage Loan and, in the case of a Discount Mortgage Loan, the product of (i) the Scheduled Principal Balance of such Mortgage Loan and (ii) the Non-PO Percentage for such Mortgage Loan.

• At the time of any determination, the amount derived by (i) multiplying the outstanding Principal Balance of each Mortgage Loan in Mortgage Group One on such date of determination by the Non-PO Percentage with respect to such Mortgage Loan and (ii) summing the results.

• In full, this part of the definition of Adjusted Net Mortgage Rate provides: “For purposes of determining whether any Substitute Mortgage Loan is a Discount Mortgage Loan or a Non-Discount Mortgage Loan and for purposes of calculating the applicable PO Percentage and the applicable Non-PO Percentage, each Substitute Mortgage Loan shall be deemed to have an Adjusted Net Mortgage Rate equal to the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan for which it is substituted.” PSA, art.

More Definitions of Non-PO Percentage

Non-PO Percentage. With respect to any Mortgage Loan with a Net Mortgage Rate less than 6.000% per annum, a fraction, expressed as a percentage, (x) the numerator of which is equal to the related Net Mortgage Rate, and (y) the denominator of which is equal to 6.000% per annum. With respect to all other Mortgage Loans, 100%.

Non-PO Percentage. With respect to any Discount Loan, the excess of 100% over the PO Percentage for such Discount Loan.

Non-PO Percentage. Not applicable.

Non-PO Percentage. (a) With respect to Pool I, the Non-Class I-A-PO Percentage, and (b) with respect to Pool II, the Non-Class II-A-PO Percentage.

Non-PO Percentage. As to any Discount Mortgage Loan, a fraction (expressed as a percentage), the numerator of which is the Net Mortgage Interest Rate as of the Cut-off Date of such Discount Mortgage Loan and the denominator of which is 7.000% for each Group 1 Discount Mortgage Loan and 6.000% for each Group 2 Discount Mortgage Loan. As to any Mortgage Loan that is not a Discount Mortgage Loan and each Group 3 Mortgage Loan, 100%.

Non-PO Percentage. As to any Discount Mortgage Loan, a fraction (expressed as a percentage), the numerator of which is the Net Mortgage Interest Rate as of the Cut-off Date of such Discount Mortgage Loan and the denominator of which is 6.000% for each Group 1 Discount Mortgage Loan, 6.000% for each Group 2 Discount Mortgage Loan, 6.000% for each Group 3 Discount Mortgage Loan, 6.500% for each Group 4 Discount Mortgage Loan, 6.500% for each Group 5 Discount Mortgage Loan and 6.000% for each Group 6 Discount Mortgage Loan. As to any Mortgage Loan that is not a Discount Mortgage Loan, 100%.

Non-PO Percentage. With respect to each Discount Mortgage Loan, a rate equal to the Net Mortgage Rate divided by 6.50%; with respect to each Non-Discount Mortgage Loan, 100%.