Distressed Mortgage Loan. Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.
Distressed Mortgage Loan. As of any Determination Date, any Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Distribution Date: Commencing in September 2003, the 25th day of each month or, if such day is not a Business Day, the next succeeding Business Day.
Distressed Mortgage Loan. As of any Transfer Date, any Mortgage Loan that was Delinquent in payment for a period of 90 days or more as of the first calendar day of the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note or for which the Servicer has accepted a deed in lieu of foreclosure. No Mortgage Loan shall be considered Delinquent for the purpose of this definition by virtue of the related Mortgagor having made payment to the prior servicer. Distribution Date: Commencing in September 2006, the 25th day of each month (or if such day is not a Business Day, the next succeeding Business Day).
Examples of Distressed Mortgage Loan in a sentence
A troubling result occurs if the value of the real property securing the loan increases.Example B (Distressed Mortgage Loan Appreciates).
The pair (ψ, V ) is a covariant representation of the C*-dynamical system C(E0), G in L(M).Proof.
A similar result should apply for the 75% Asset Test.Example F (Distressed Mortgage Loan Secured by A De Minimis Amount of Personal Property).
The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA.
For this purpose, we will use facts similar to those in Example Two.Example A (Distressed Mortgage Loan at Acquisition).
More Definitions of Distressed Mortgage Loan
Distressed Mortgage Loan means any Mortgage Loan which is ninety (90) days or more Delinquent.
Distressed Mortgage Loan. As of any date of determination, any Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the related Prior Servicer or Trustee has accepted a deed in lieu of foreclosure. A Mortgage Loan that has a due date of the first day of a month will be considered a Distressed Mortgage Loan on the last day of the second following month if the payment that was due on the first day of the month remains unpaid, regardless of the number of days in the month (e.g. a Mortgage Loan for which the next Due Date is October 1st would be considered a Distressed Mortgage Loan as of December 31st if such loan remains unpaid as of such date).
Distressed Mortgage Loan. As of any Transfer Date, any Mortgage Loan that was not in foreclosure, bankruptcy, actively participating in a repayment plan or REO, but which is delinquent in payment for a period of 91 days or more, without giving effect to any grace period permitted by the related Mortgage or Mortgage Note. Notwithstanding the prior sentence, any Mortgage Loan being referred to foreclosure as of the Notice Date or in the month of the Transfer Date shall be considered a Distressed Mortgage Loan. No Mortgage Loan shall be considered delinquent for the purpose of this definition by virtue of the related Mortgagor having made payment to a prior servicer.
Distressed Mortgage Loan. As of any Remittance Date, any Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure.
Distressed Mortgage Loan. As of any Transfer Date, any Mortgage Loan that was Delinquent in payment for a period of 90 days or more as of the first calendar day of the month in which such Transfer Date occurs, without giving effect to any grace period permitted by the related Mortgage Note or for which the Servicer has accepted a deed in lieu of foreclosure. No Mortgage Loan shall be considered delinquent for the purpose of this definition by virtue of the related Mortgagor having made payment to the prior servicer.
Distressed Mortgage Loan. As of any Transfer Date, any Mortgage Loan that was not in foreclosure, bankruptcy, actively participating in a repayment plan or REO, but which is delinquent in payment for a period of ninety-one (91) days or more, without giving effect to any grace period permitted by the related Mortgage or Mortgage Note. Notwithstanding the prior sentence, any Mortgage Loan being referred to foreclosure as of the Notice Date or in the month of the Transfer Date shall be considered a Distressed Mortgage Loan. No Mortgage Loan shall be considered delinquent for the purpose of this definition by virtue of the related Mortgagor having made payment to a prior servicer. Due Date: The day of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive of any days of grace.
Distressed Mortgage Loan. Any Mortgage Loan which is more than 90 days delinquent or for which the Servicer has accepted a deed in lieu of foreclosure.