Examples of Fixed Rate Mortgage Loan in a sentence
Notwithstanding Clause 8.1 herein, whenever Clause 8.6 of the Mortgage Sale Agreement applies to a Fixed Rate Mortgage Loan, the Administrator may accept an application from a Borrower to set the Existing Borrowers' Re-Fix Rate, subject to the terms of Clause 4.4 herein.
With respect to each Fixed Rate Mortgage Loan, the Purchaser shall execute and deliver to the Mortgagor any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the maturity date if required under applicable law.
Generally, any such prepayment charge will apply, in the case of a Fixed Rate Mortgage Loan, to prepayments made within five years from the date of execution of the related Mortgage Note and, in the case of an Adjustable Rate Mortgage Loan, to prepayments made prior to the first Adjustment Date for that Mortgage Loan.
The Fixed Rate Mortgage Loan Agreement is evidenced by a certain Replacement Promissory Note A-1 (“Fixed Rate Note A-1”) and a certain Replacement Promissory Note A-2 (“Fixed Rate Note A-2”), each in the principal amount of $412,701,271 and each dated as of August 9, 2007.
There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an Adjustable Rate Mortgage Loan to a Fixed Rate Mortgage Loan.