Definition of Portfolio Criteria


Portfolio Criteria means, on any day, after giving effect to Agent's purchase and sale of mortgage loans on such day, the Eligible Mortgage Loans owned by Agent in the aggregate must satisfy the following criteria: (i) the aggregate Repurchase Price of mortgage loans secured by property in California may not on such date exceed 35% of the Maximum Aggregate Purchase Price; (ii) the aggregate Repurchase Price of all mortgage loans secured by properties located in New York may not on such date exceed 25% of the Maximum Aggregate Purchase Price, (iii) the aggregate Repurchase Price of all mortgage loans secured by properties located in New Jersey may not on such date exceed 20% of the Maximum Aggregate Purchase Price, (iv) the aggregate Repurchase Price of all mortgage loans secured by properties located in Florida may not on such date exceed 20% of the Maximum Aggregate Purchase Price, (v) the aggregate Repurchase Price of mortgage loans secured by property in any other single state may not on such date exceed 15% of the Maximum Aggregate Purchase Price; (vi) the aggregate Repurchase Price of Uninsured Loans acquired on such date may not exceed 15% of the Maximum Aggregate Purchase Price; (vii) the mortgage loans (excluding FHA Loans and VA Loans) owned by Agent must have a weighted average FICO Score of at least 675; (viii) the weighted average Loan-to-Value Ratio of the mortgage loans (excluding FHA Loans, VA Loans, HELOCs and Closed End Second Mortgage Loans) owned by Agent must not on such date exceed 85%; (ix) the aggregate Repurchase Price of HELOCs plus the aggregate Repurchase Price of Closed End Second Mortgage Loans may not on such date exceed 40% of the Maximum Aggregate Purchase Price; (x) the weighted average Combined Loan-to-Value Ratio of HELOCs and Closed End Second Mortgage Loans owned by Agent must not on such date exceed 85%; (xi) the aggregate Purchase Price of all Manufactured Home Mortgage Loans and acquired on such day may not exceed 1% of the Aggregate Purchase Price; and (xii) the aggregate Purchase Price of all Interest-Only Loans shall not on such day exceed 40% of the Maximum Aggregate Purchase Price.

Examples of Portfolio Criteria in a sentence

The Portfolio Criteria are as follows: (i) The Portfolio Notional Amount does not exceed the Maximum Portfolio Notional Amount.
The obligations of the Guarantor under the Guarantee shall, so long as no Event of Default in relation to Counterparty as Defaulting Party has occurred and is then continuing and no Early Termination Date has been designated by Citibank, terminate and be of no further force of effect on the Portfolio Criteria Satisfaction Date.
The Mortgage Loans shall comply with the Eligibility Criteria, the Portfolio Aging Limitations, the Portfolio Criteria and the Wet Funded Loan Limitation.
The Servicer agrees that as of any date of determination, the Mortgage Loans shall satisfy the Portfolio Criteria, the Eligibility Criteria set forth in clause (i) of the definition thereof, the Portfolio Aging Limitations and the Wet Funded Loan Limitation.
As of any date of determination, the Eligible Loans in the aggregate shall satisfy the Portfolio Criteria, the Portfolio Aging Limitations and the Wet Funded Loan Limitation.