Settlement Mortgage definition

Settlement Mortgage means each Mortgage, other than an Excluded Mortgage, identified in the Electronic File that was e-mailed from ▇▇▇▇▇▇▇ Mac to Seller/Servicer on September 23, 2013 (a copy of that e-mail is attached hereto as Exhibit A-1) and a copy of the responding e-mail from Seller/Servicer to ▇▇▇▇▇▇▇ Mac on September 24, 2013 (a copy of that e-mail is attached hereto as Exhibit A-2) confirming the Mortgages listed in the Electronic File represent the entire population of Settlement Mortgages. The Electronic File contains columns including: (i) the ▇▇▇▇▇▇▇ Mac loan number, (ii) the applicable Seller/Servicer loan number, and (iii) the Servicer loan number. The ▇▇▇▇▇▇▇ Mac loan number listed in the Electronic File will be the determinative identifier in the event there is any conflict between any columns for a particular Settlement Mortgage.
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Settlement Mortgage means the mortgage granted by the Lessor to the Crown over the Land, as provided for under the Deed of Settlement.
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Examples of Settlement Mortgage in a sentence

  • Seller/Servicer shall pay to ▇▇▇▇▇▇▇ Mac, in accordance with and subject to the provisions set forth below, the MI Payment Amount for each Settlement Mortgage that experiences an MI Origination Defect.

  • In connection with any determination as to whether a Settlement Mortgage shall be characterized as an Excluded Mortgage, an admission of liability concerning a settlement of a lawsuit will not in and of itself constitute an admission of the existence of facts that would give rise to a characterization of a Settlement Mortgage as an Excluded Mortgage.

  • In the event ▇▇▇▇▇▇▇ Mac determines that a Settlement Mortgage which experiences an MI Action is also an Excluded Mortgage, ▇▇▇▇▇▇▇ Mac may commence the exercise of its rights under Sections 7, 8 and 9 of this Agreement, regardless of whether an MI Payment Amount has been or will be paid.

  • An Excluded Mortgage Notice shall include the grounds on which ▇▇▇▇▇▇▇ Mac determined that any such Settlement Mortgage should be characterized as an Excluded Mortgage.

  • All LG&E Parties' Residual Value Payments that may become due to any LG&E Party(s) under this Section 24.1 shall be secured by the Settlement Mortgage, and shall be further subject to the Non-Disturbance Agreement to be entered into by Big Rivers, RUS, the LC Issuer and the LG&E Parties.

  • In the event the Settlement Mortgage is determined to be an Excluded Mortgage, Seller/Servicer shall pay the repurchase or make-whole amount for Settlement Mortgage, less a credit for any previously-paid MI Payment Amount.

  • Upon receipt of the written request of Seller/Servicer, ▇▇▇▇▇▇▇ Mac will assign, on an “as-is, where-is” basis without representation, warranty or recourse of any kind, any claims (or rights to payment) it may have against an MI Company to Seller/Servicer on account of a Settlement Mortgage to the extent that Seller/Servicer has paid the applicable MI Payment Amount to ▇▇▇▇▇▇▇ Mac.

Related to Settlement Mortgage

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

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • 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.

  • Split Mortgage Loan Any Mortgage Loan that is part of a Loan Combination. The only Split Mortgage Loans that are assets of the Trust as of the Closing Date are those that have the respective loan numbers (as set forth on the Mortgage Loan Schedule) listed on the Loan Combination Table under the column heading “Loan No. for related Mortgage Loan.”