Second Lien Mortgage Loan definition

Second Lien Mortgage Loan. A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.
Second Lien Mortgage Loan. A Mortgage Loan secured by the lien on the Mortgaged Property, subject to one prior lien on such Mortgaged Property securing financing obtained by the related Mortgagor.
Second Lien Mortgage Loan means a Mortgage Loan secured by a second lien on the related Mortgaged Property.

Examples of Second Lien Mortgage Loan in a sentence

  • Other than with respect to a Business Purpose Mortgage Loan or Second Lien Mortgage Loan, with respect to each Mortgage Loan where the Mortgagor’s loan application for the Mortgage Loan was taken on or after October 3, 2015, such Mortgage Loan was originated in compliance with the TILA-RESPA Integrated Disclosure Rule.


More Definitions of Second Lien Mortgage Loan

Second Lien Mortgage Loan. A Mortgage Loan secured by a Mortgage in second lien position on the related Mortgaged Property.
Second Lien Mortgage Loan means an Eligible Asset secured by a lien on the Mortgaged Property, which is subject to one prior lien on such Mortgaged Property.
Second Lien Mortgage Loan. A Mortgage Loan secured by a second priority lien Mortgage on the related Mortgaged Property. Securities Administrator: Wells Fargo Bank, N.A. or its successor in interest. Servicer: Option One Mortgage Corporation or its successor in interest or assigns or any successor to the Servicer under this Agreement as herein provided.
Second Lien Mortgage Loan. A Mortgage Loan secured by a second priority lien Mortgage on the related Mortgaged Property. Seller: LBH.
Second Lien Mortgage Loan. A Mortgage Loan secured by a second priority lien Mortgage on the related Mortgaged Property. Securities Administrator: Wells Fargo Bank, N.A. or its successor in interest. Seller: LBH.
Second Lien Mortgage Loan means (a)(i) a second lien mortgage loan that is originated by Seller contemporaneously with a first lien mortgage loan on the identical Mortgaged Property, and (ii) the first lien mortgage loan related to the Mortgage Property is (x) a Purchased Mortgage Loan and (y) a Qualified Mortgage, as defined in 12 CFR 1026.43, et seq.; and (b) that except with respect to the lien position thereof, (i) conforms to the requirements for securitization or cash purchase by an Agency, (ii) that satisfies Seller’s Underwriting Guidelines for second lien mortgage loans, (iii) that has a FICO score of at least [***], (iv) has a principal balance no greater than [***], (v) has a combined loan to value no greater than [***], and (vi) that is subject to a Takeout Commitment.