Re-Performing Loan definition
Re-Performing Loan means an Eligible Loan, with respect to which (i) the related Mortgagor has made the most recently due Monthly Payment on or prior to the related Due Date, (ii) the original terms have not been modified, (iii) at least one Monthly Payment (other than with respect to the most recently due Monthly Payment) due during the last twelve months has been Delinquent and (iv) the related Mortgagor is not Delinquent with respect to any scheduled Monthly Payment.
Re-Performing Loan. A Mortgage Loan which had defaulted in the past and which is currently at least 90 days delinquent with respect to certain scheduled monthly payments in respect of principal and/or interest, but for which the related mortgagor has made, in the aggregate, at least three scheduled monthly payments in respect of principal and/or interest in the four calendar months preceding the Cut-off Date (regardless of the timing of receipt of such payments).
Re-Performing Loan. A Mortgage Loan that was previously a Non-Performing Loan and is currently less than sixty (60) days contractually delinquent as of the most recent Measurement Date (using the MBA Method of Delinquency).
Examples of Re-Performing Loan in a sentence
Each ▇▇▇▇▇▇ ▇▇▇ Re-Performing Loan (i) with respect to (x) a FHA Loan, is fully insured by the FHA pursuant to a FHA Mortgage Insurance Certificate; (y) a VA Loan, is guaranteed by the VA pursuant to a VA Loan Guaranty Agreement and (z) a RD Loan, is guaranteed by the RD pursuant to a RD Loan Guaranty Agreement and (iii) conforms to the requirements of ▇▇▇▇▇▇ Mae for securitization.
More Definitions of Re-Performing Loan
Re-Performing Loan. A Mortgage Loan that has been originated prior to January 10, 2014 and is not a Non-Performing Loan.
Re-Performing Loan means an Alternative Loan having been either (i) in a forbearance status for more than 12 months during any 24-month period excluding those in forbearance due to an in- school or medical residency status or (ii) more than 180 days past due; but subsequently having made three consecutive timely payments and not having experienced (i) or (ii) again after having made three consecutive timely payments.
Re-Performing Loan. A Mortgage Loan that has been in contractual default but on the Closing Date is not more than ninety (90) days delinquent on a recency of payment basis or, if the Transfer Date is more than sixty (60) days after the Closing Date, is not more than ninety (90) days delinquent on a recency of payment basis on the Transfer Date.
Re-Performing Loan means a Loan as to which to one or more Monthly Payments have been thirty (30) or more days past due at any time during the immediately preceding twelve (12) month period but as to which no Monthly Payments have been thirty (30) or more days past due in the immediately preceding four (4) month period.
Re-Performing Loan means a loan on which at least five of the seven most recent payments have been made, or the most recent payment has been made and accepted pursuant to an agreement, or the full dollar amount to cover at least five payments has been paid in the last seven months.
Re-Performing Loan means the definition as set forth in the Certificate and Agreement. “Reserve Alternative Instrument” shall mean an insurance policy or surety bond or irrevocable