Second Mortgage Loans definition

Second Mortgage Loans has the meaning ascribed to such term in Section 4.2G. " SH Greece Lease" means that certain Lease, to be entered into by and between SH Greece Project Entity and SH Greece Tenant pursuant to Section 2.1.
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Second Mortgage Loans means loans to Mortgagors secured by a Second Mortgage, the proceeds of which will be used to provide down payment, closing costs and mortgage insurance assistance payableby a Mortgagor on financed Residential Housing Units; Second Mortgage Loans are subordinate to First Mortgage Loans, and Second Mortgage Loans do not back Program Securities.
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Second Mortgage Loans. [*]% of the lesser of (i) the Mortgage Note Amount or (ii) the Committed Purchase Price
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Examples of Second Mortgage Loans in a sentence

  • Second Mortgage Loans bear interest at a rate of 0%, 30 year, deferred (or due upon sale, re‐ financing, transfer of title, or rental of the home if done within first 30 years).

  • The parties hereto agree to the terms and conditions hereof pursuant to which such Mortgage Loans and related Second Mortgage Loans will be originated and sold to the Servicer, as such terms and conditions may be modified pursuant to the Purchase Documents and Program Announcements and such modifications are contained in the Program Manual and/or the Purchase Documents.

  • The Mortgage Lender may collect no additional fees for the origination of Second Mortgage Loans.

  • Please refer to the Architectural Restrictions and call the Management Company.

  • The Servicer shall execute and deliver any and all instruments, documents, and writings necessary to service the Second Mortgage Loans.

  • Namely, we consider the chain of isomorphisms(L1, bL1 )αL1,L00−0 → (L0, bL )αL0,L22−0 → (L2, bL ).The composition of these two isomorphisms is given bym2(αL1,L0 , αL0,L2 ) = T ∆′ αL1,L20 0 0where ∆r is the symplectic area of the triangle projecting down to the shaded region in Figure 3, and we make similar assumption on our Morse function as before so that the flow lines from the self-intersection do not intersect the boundary of the triangle lying over L0.

  • Each Originator agrees to use its best efforts to originate Qualified First and Second Mortgage Loans in accordance with this Agreement and the Program Guidelines and agrees to sell such Qualified Mortgage Loans to the Authority on the terms described in Section 4.6 hereof.

  • WASHINGTON STATE HOUSING FINANCE COMMISSION By: Xxxxx Xxxxxx, Executive Director LAKEVIEW LOAN SERVICING, LLC By: Its: [MORTGAGE LENDER], as Mortgage Lender By: Name: Title: EXHIBIT A TO MORTGAGE ORIGINATION AGREEMENT SECOND MORTGAGE LOAN PROGRAM ADDENDUM Introduction This Addendum describes the process by which Mortgage Lenders may originate Second Mortgage Loans in conjunction with Mortgage Loans finance through the Commission.

  • Any related Second Mortgage Loans shall be originated and serviced in accordance with Section 4.21 hereof, the applicable Administrator’s Guidelines and the Servicing Agreement.

  • Participants will originate any Second Mortgage Loans in the name of the Issuer and will be reimbursed by the Servicer or the Issuer upon the Purchase of a Mortgage Loan as described in the applicable Lender’s Guide.


More Definitions of Second Mortgage Loans

Second Mortgage Loans. [*]% of the Mortgage Note Amount
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Second Mortgage Loans. At a per annum rate equal to Prime Rate plus six percent (6%)
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Second Mortgage Loans means the portion of the Mortgage Loans to the Partnership from the Second Lender pursuant to the City Loan Agreement in the total maximum principal amount of $600,000 of which (i) $300,000 shall be advanced from the PFD"s Community Development Block Grant ("CDBG") Program funds (the "CDBG Funds"), and (ii) $300,000 shall be advanced from The Commonwealth"s Department of Housing and Community Development"s ("DHCD") HOME Investment Partnership loan program (the "HOME" Funds).
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Second Mortgage Loans means those subordinate mortgage loans made by the Issuer to Eligible Borrowers under the Program, and which are either (i) financed with Bond proceeds or (ii) previously financed by the Issuer with its own funds, and for which the Issuer is reimbursed from Bond proceeds. The Bonds are payable solely from and secured by the Pledged Revenues and any other assets pledged under the Indenture as part of the Trust Estate. “Pledged Revenues” is defined in the Indenture as
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Related to Second Mortgage Loans

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I.

  • 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.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

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

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

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • 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.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

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

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.