First Mortgage Loan definition

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

First Mortgage Loan means a Mortgage Loan secured by a First Mortgage.

First Mortgage Loan. A Mortgage Loan that is secured by a first lien on the Mortgaged Property securing the related Mortgage Note.

Examples of First Mortgage Loan in a sentence

• Any amounts collected by a Servicer under any such policy relating to a Mortgage Loan (for the avoidance of doubt, remaining after application of any such amounts to any related First Mortgage Loan) shall be deposited in the related Collection Account subject to withdrawal pursuant to Section 3.08.

• Guarantor, Xxxx-Xxxx Realty Corporation, a Maryland corporation (the “REIT Corporation”), and Xxxx-Xxxx Realty, L.P., a Delaware limited partnership (the “Operating Partnership”), and the Borrowers listed on Exhibit A attached hereto and made a part hereof (hereinafter, excluding Guarantor, referred to collectively as “Borrowers”) have, by that certain First Mortgage Loan Application Nos.

• With respect to each First Mortgage Loan, the Servicer will maintain or cause to be maintained in full force and effect (to the extent a Mortgage Loan has a Primary Insurance Policy as of the Servicing Transfer Date and the prior servicer or Owner has provided the relevant information related to the Primary Insurance Policy to the Servicer) a Primary Insurance Policy issued by a Qualified Insurer with respect to each Mortgage Loan for which such coverage is required.

• The Servicer shall segregate and hold all funds collected and received pursuant to each First Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts, in the form of time deposit or demand accounts.

• Further, the Borrower shall not (unless the Lender has given written notice of its intention not to make any further advances pursuant to the provisions of Section 2.1) make Distributions of any kind or otherwise issue any additional shares of its common stock or sell or otherwise transfer or grant options for any shares of its common stock or enter into any agreements with any third parties contemplating any of the foregoing.

More Definitions of First Mortgage Loan

First Mortgage Loan and "Second Mortgage Loan". The term "Home Equity Loan" includes any Home Equity Loan which is Delinquent, which relates to a foreclosure or which relates to a Property which is REO Property prior to such Property's disposition by the Trust. Any home equity loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Depositor, in fact was not transferred and assigned to the Trust for any reason whatsoever, including, without limitation, the incorrectness of the statement set forth in Section 3.04(b)(x) hereof with respect to such home equity loan, shall nevertheless be considered a "Home Equity Loan" for all purposes of this Agreement.

First Mortgage Loan means a loan or an extension of credit, including, but not limited to, an extension of credit pursuant to a contract or an assigned contract for the sale of goods or services, made to a natural person, the proceeds of which are to be used primarily for personal, family or household purposes, and which is secured by a first mortgage upon any interest in one-to-four-family residential owner-occupied real property located in this state which is not subject to any prior mortgages and includes the renewal or refinancing of an existing first mortgage loan;

First Mortgage Loan means a residential mortgage loan that is secured by a first mortgage;

First Mortgage Loan and "Second Mortgage Loan." The term "Mortgage Loan" includes any Mortgage Loan which is Delinquent, which relates to a foreclosure or which relates to a Property which is REO Property prior to such Property's disposition by the Trust. Any mortgage loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Company, in fact was not transferred and assigned to the Trust for any reason whatsoever shall nevertheless be considered a "Mortgage Loan" for all purposes of this Agreement.

First Mortgage Loan. A Mortgage Loan that is secured by a first lien on the Mortgaged Property securing the related Mortgage Note. Fitch: Fitch, Inc., or any successor thereto.

First Mortgage Loan. A Mortgage Loan that is secured by a first lien on the Mortgaged Property securing the related Mortgage Note. Fitch: Fitch, Inc., or any successor thereto, located at One State Strexx Xxxxx 00xx Xxxxx, Xxx Xxxx, XX 00000.

First Mortgage Loan and "Second Mortgage Loan". The term "Mortgage Loan" includes any Mortgage Loan which is Delinquent, which relates to a foreclosure or which relates to a Mortgaged Property which is REO Property prior to such Mortgaged Property's disposition by the Trust. Any mortgage loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Sponsor, in fact was not transferred and assigned to the Trust for any reason whatsoever shall nevertheless be considered a "Mortgage Loan" for all purposes of this Agreement. The term "Mortgage Loan" includes the terms "Initial Mortgage Loan," and "Subsequent Mortgage Loan".