PCC Loan definition
PCC Loan means any “Second Mortgage Loan,” as defined in § 408.231.1 RSMo, secured by a mortgage or a deed of trust on residential real property located in the state of Missouri, that was originated by Preferred Credit Corporation (“PCC”) on or after June 27, 1994.
Examples of PCC Loan in a sentence
Promptly after receipt thereof from the Depositor, the Master Servicer shall provide a copy of the PCC Loan Purchase Agreement to the Sub-Servicer.
The Sub-Servicer shall promptly notify the Master Servicer upon its actual knowledge of any facts or circumstances that the Sub-Servicer reasonably believes constitute a breach of any representations and warranties contained in the PCC Loan Purchase Agreement that could give rise to a cure or repurchase obligation thereunder.