ported mortgage loan means a mortgage loan made by ACo to a person (“P”) in respect of which the following conditions are satisfied—
Converted Mortgage Loan An ARM Loan with respect to which the Borrower has complied with the applicable requirements of the related Mortgage Note to convert the related Mortgage Interest Rate to a fixed rate of interest, and the Servicer has processed such conversion. Co-op Shares: Shares issued by private non-profit housing corporations.
Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).
Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.
Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.
Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.
Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.
Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.
Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.
MERS Designated Mortgage Loan Mortgage Loans for which (a) the Seller has designated or will designate MERS as, and has taken or will take such action as is necessary to cause MERS to be, the mortgagee of record, as nominee for the Seller, in accordance with MERS Procedures Manual and (b) the Seller has designated or will designate the Purchaser as the Investor on the MERS System.
Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.
Purchased Mortgage Loans means the collective reference to Mortgage Loans sold by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.
ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.
Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.
Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.
Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.
REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.
Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.
Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.
Retained Mortgage Loan File A file for each Mortgage Loan maintained by the Servicer prior to any Document Transfer Date and by the Custodian after any Document Transfer Date that contains the documents specified in Section 2.01(b) of the Pooling and Servicing Agreement and any additional documents required to be added to the Retained Mortgage Loan File pursuant to the Pooling and Servicing Agreement.
MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.
Mortgage Loan shall have the meaning assigned to such term in the recitals.
Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.
Registered mortgage loan originator means any individual who:
Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.
Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.
Nonsubserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement.