VA No Bid definition
VA No Bid means a delinquent Mortgage Loan with respect to which the VA has notified the Company or one of its Subsidiaries that it intends to exercise its option to pay the amount guaranteed by the VA and relinquish all rights in the collateral securing such Mortgage Loan to the Company or one of its Subsidiaries.
VA No Bid means a delinquent Mortgage Loan that the VA intends to pay the VA guarantee and leave the Mortgaged Property with the Servicer.
VA No Bid means a VA no-bid or a VA buydown.
More Definitions of VA No Bid
VA No Bid. An election by the VA with respect to a Mortgage Loan that the VA intends to pay the VA guarantee and leave the Mortgaged Property with the servicer.
VA No Bid means any VA-guaranteed Subserviced Mortgage Loan with respect to which VA has given written notice to Servicer or Subservicer that the VA will not establish a “Specified Amount” (as defined in the VA regulations) or that it will not accept conveyance of the related Mortgaged Property after Foreclosure thereon.
VA No Bid means a Mortgage Loan as to which the VA notifies the Servicer that it intends to pay the VA guarantee and leave the Mortgaged Property with HomeSide or Buyer, as applicable. The following terms shall have the respective meanings set forth in the relevant Section referred to below throughout this Agreement: Actual Excluded Assets 5.01(d) Actual Excluded Liabilities 5.01(c) Agreement Preamble Applicable Law 4.02(i) Attempted Excluded Asset 5.01(d) Attempted Excluded Liability 5.01(c) Buyer Preamble Buyer Financial Statements 4.03(d) Buyer Indemnified Parties 10.01(a) Buyer's Dispute Notice 2.03(c) Buyout Trust Excluded Assets Definition Cap 10.05(a) Chosen Courts 11.07(b) Closing 3.01 Closing Date 3.01 Closing Date Balance Sheet 2.03(b) Closing Date Value 2.02 Closing Date Value Calculation Schedule 2.03(b) Comparable Cash Compensation 6.01(a) Copyrights Intellectual Property Definition Correspondent Agreement 2.01(a) De Minimis Liability Restriction 10.06(a) Deductible 10.06(a) Disclosure Schedule 4.01 Effective Time 3.01 Estimated Purchase Price 2.02 Final Purchase Price 2.02 Fixed and Other Assets 2.01(a) HomeSide Preamble HSL Financial Statements 4.02(s)(i) HSR Act 4.02(c)(i) Indemnified Party 10.07(a) Intercompany Debt 1.01 Interim Settlement Amount 2.06 Interim Settlement Date 2.06 Loan Property 4.02(n)(vi) Marks Intellectual Property Definition Mortgage Escrow Accounts 4.02(q)(xxi) MSRA Preamble NAB Preamble Participation Facility 4.02(n)(vi) Patents Intellectual Property Definitions Permitted Liens 4.02(j)(i) Pre-Closing Date Value 2.02 Pre-Closing Date Value Calculation Schedule 2.04(a) Purchase Price 2.02 Purchase Price Adjustment 2.02 Regulatory Authority 4.02(f) Representatives 2.03(f) Restricted Business 5.08 Retained Accounts Receivables 2.01(c) Seller Indemnified Parties 10.01(b) Servicing Advances 2.01(c) Servicing Purchase Agreements 2.01(a) Settlement Date 2.04 Specified Contracts 4.02(h)(i) SR Investment Preamble SRI Capital Stock Recitals SRI Financial Statements 4.02(s)(ii) Stock Acquisition 2.01 Straddle Periods 7.02(a)(ii) Subject Employee 6.01 Tape 4.02(s)(iv) Third-Party Claim 10.07(a)