Original Value. The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated.
Appears in 36 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Custodial Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Transfer and Servicing Agreement (SunTrust Mortgage Securitization, LLC)
Original Value. The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated. OTS: The Office of Thrift Supervision.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2)
Original Value. The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated. Originator: [ ] or [ ], each in the capacity of originator.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Bond Securitization LLC)
Original Value. The lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated.. Originator: Xxxxxx, Bean & Xxxxxxxx Mortgage Corp.
Appears in 1 contract
Samples: Trust Agreement (TBW 2006-3)
Original Value. The If the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the lesser of (a) the Appraised Value of a Mortgaged Property at the time the related Mortgage Loan was originated and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price paid for the Mortgaged Property by the Mortgagor at the time the related Mortgage Loan was originated. For all other Mortgage Loans, the Appraised Value of the related Mortgaged Property at the time the related Mortgage Loan was originated.
Appears in 1 contract
Samples: Trust Agreement (Fieldstone Mortgage Investment CORP)
