PM Funded Wet Loans definition

PM Funded Wet Loans means Wet Loans that will be funded after 12:00 p.m. (New York City time) but on or prior to 4:30 p.m. (New York City time) on any Business Day.

Examples of PM Funded Wet Loans in a sentence

  • In the case of Wet Loans, the Transaction Notice and the Loan Data Transmission must be received no later than 5:00 p.m. (New York City time) one (1) Business Day prior to the requested Purchase Date, in the case of AM Funded Wet Loans, and no later than 3:00 p.m. (New York City time) on the requested Purchase Date, in the case of PM Funded Wet Loans.

  • Following the Custodian's review of the items specified above, the Custodian shall deliver to the Lender a notice of intent to Issue Trust Receipt not later than 6:00 p.m. (eastern time) on the day prior to the requested Funding Date for any AM Funded Wet Loans, not later than 1:00 p.m. (eastern time) on the requested Funding Date for any PM Funded Wet Loans, and not later than 12:00 noon (eastern time) on the requested Funding Date for any Dry Loans.

  • Each Transaction Notice and the Asset Schedule in respect of the Eligible Loans that Seller proposes to include in the related Transaction shall clearly indicate those Loans that are intended to be Undocumented Loans (other than Correspondent Loans), AM Funded Wet Loans, PM Funded Wet Loans, Dry Loans (other than Correspondent Loans) or Correspondent Loans (separately identifying Correspondent Loans that are Dry Loans and Correspondent Loans that are Undocumented Loans).

  • Funded Wet Loans, (ii) 1:00 p.m. (eastern time) with respect to PM Funded Wet Loans and (iii) 4:00 p.m. (eastern time) with respect to Correspondent Loans.

  • Seller shall upload the Wire Instructions into the Disbursement Agent’s cash management system no later than (i) with respect to AM Funded Wet Loans, 9:00 a.m. (eastern time) on the related Purchase Date, (ii) with respect to PM Funded Wet Loans, 11:30 a.m. (eastern time) on the related Purchase Date or (iii), with respect to Correspondent Loans, 1:30 p.m. (eastern time) on the related Purchase Date.

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Related to PM Funded Wet Loans

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • Funded Amount means, with respect to any Revolving Obligation (excluding a Synthetic Security) or Delayed Drawdown Collateral Obligation at any time, the aggregate principal amount of advances or other extensions of credit to the extent funded thereunder by the Issuer that are outstanding at such time.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Original Pre-Funded Amount The amount deposited by the Depositor in the Pre-Funding Account on the Closing Date, which amount is $36,215,225.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.

  • Pre-Funded Amount With respect to any date of determination, the amount on deposit in the Pre-Funding Account.

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

  • Delinquent Loans means loans where the borrowers have failed to make scheduled mortgage payments under the terms of the mortgage and where the cumulative amount of mortgage payments missed exceeds the scheduled payments due in a three-month period.

  • Loan Group IV The group of Mortgage Loans comprised of the Group IV Loans.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Loan Group 2 The Group 2 Mortgage Loans.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Advances Outstanding On any day, the aggregate principal amount of all Advances outstanding on such day, after giving effect to all repayments of Advances and the making of new Advances on such day.

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, including any Canada Student Grant amount(s) converted to a Direct Loan, together with all interest on those amounts.

  • Undercollateralized Group As defined in Section 4.03.