Shared Loss Loan definition

Shared Loss Loan means a Single Family Shared-Loss Loan, Investor-Owned Residential Loan, Restructured Loan or Home Equity Loan, and any Commitment with respect to those loans.
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Shared Loss Loan means any or all of a Single Family Shared-Loss Loan, Investor-Owned Residential Loan, Restructured Loan or Home Equity Loan and any Commitment with respect to those Loans or any ORE resulting from foreclosure on such Loans, excluding however any Loan or ORE resulting from foreclosure on such Loan that is insured or guaranteed by any department or agency of any federal, state or local governmental unit. Module 1 – Whole Bank w/ Optional Shared Loss Agreements SF-29 First Guaranty Bank and Trust Company of Jacksonville Version 3.3.1 –SINGLE FAMILY SHARED-LOSS AGREEMENT Jacksonville, FL December 7, 2011
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Shared Loss Loan means any Loan purchased by the Assuming Institution pursuant to the Purchase and Assumption Agreement and set forth on Schedule 4.15A and any Commitment with respect to any Residential Loan, Restructured Loan or Junior Loan; provided, however, that any Loan that is insured or guaranteed by any department or agency of any federal, state or local governmental unit shall not constitute a Shared-Loss Loan.
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Examples of Shared Loss Loan in a sentence

  • The Assuming Bank shall not manage, administer or collect any “Related Loan” in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Single Family Shared- Loss Loan to which such loan is related.

  • Except for the sales price, Loans sold under this section will be treated as if initially sold under Section 3.1 of this Agreement, and will be subject to all relevant terms of this Agreement as similarly situated Loans sold and transferred pursuant to this Agreement, provided that, no Loan shall be a Shared Loss Loan pursuant to the Shared Loss Agreements as defined in Section 4.15 hereof if it does not meet the definition of Shared Loss Loan in the applicable Shared Loss Agreement.

  • The Assuming Institution shall not manage, administer or collect any “Related Loan” in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Single Family Shared- Loss Loan to which such loan is related.

  • The Assuming Bank shall not manage, administer or collect any "Related Loan" in any manner that would have the effect of increasing the amount of any collections with respect to the Related Loan to the detriment of the Single Family Shared- Loss Loan to which such loan is related.

  • The Receiver shall be relieved of its obligations with respect to a Single Family Shared-Loss Loan upon payment of a Foreclosure Loss amount or a Short Sale Loss amount with respect to such Single Family Shared-Loss Loan or upon the sale of a Single Family Shared-Loss Loan by Assuming Institution to a person or entity that is not an Affiliate; provided, however, that if the Receiver consents to the sale of any such Single Family Shared- Loss Loan, any loss on such sale shall be a Portfolio Loss.

Related to Shared Loss Loan

  • New Shared-Loss Loans means loans that would otherwise be subject to loss sharing under this Commercial Shared-Loss Agreement that were originated after the Bid Valuation Date and before Bank Closing.

  • Single Family Shared-Loss Loan means a single family one-to-four owner- occupied residential mortgage loan, excluding Home Equity Loans, that is secured by a mortgage on a one-to four family residence or stock of a cooperative housing association.

  • Single Family Shared-Loss Loans means the single family one-to-four residential mortgage loans (whether owned by the Assuming Bank or any Subsidiary) identified on Schedule 4.15A of the Purchase and Assumption Agreement.

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.