High Risk Mortgage definition

High Risk Mortgage means the first mortgage loan that has one
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High Risk Mortgage means a first mortgage loan that has one or
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High Risk Mortgage means a first mortgage loan that has one or more of the following characteristics:
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Examples of High Risk Mortgage in a sentence

  • High Risk: Mortgage and loan investments within the Company’s risk appetite and credit standards that have an additional element of credit risk that could result in an above average probability of default.

  • High Risk: Mortgage investments within the Company’s risk appetite and credit standards that have an additional element of credit risk that could result in an above average probability of default.

  • Currently applications for a bursary are considered where the student receives free school meals or where household income is below £26,000.


More Definitions of High Risk Mortgage

High Risk Mortgage means a Settlement Mortgage: (1) secured by Mortgaged Premises in one of the states listed in Guide Section 22.18.1 (as existed as of the applicable Funding Date), which Settlement Mortgage, at the time of origination, was designated (or should properly have been designated) as a “high-cost,” “high-risk” or a similar designation under the applicable state law (as referenced in Guide Section 22.18.1); and/or (2) that violated (as of the applicable Funding Date) any applicable anti-predatory laws or statutes or related regulations and/or (3) which, as of the applicable Funding Date, violated any federal, state, county, municipal and other governmental statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and injunctions of governmental authorities (i) regarding mortgage origination, including underwriting, consumer credit, equal credit opportunity, usury, and/or truth-in-lending (provided, however, that any misrepresentation by a Borrower or other third party that is not an Affiliate of Seller/Servicer shall not, by itself and absent another independent reason that causes the applicable Mortgage to be an Excluded Mortgage, cause a Settlement Mortgage to be considered a High Risk Mortgage under this definition), (ii) regarding zoning requirements and the legality of improvements on mortgaged property or the environmental condition of the mortgaged property, (iii) regarding manufactured housing, condominium projects and cooperative share units, (iv) regarding the origination and/or delivery of residential mortgage loans, including the laws specifically described in subsections 1 through 17 of Section 6.2(a) of the Guide (to the extent such laws pertain to the origination and delivery, rather than the Servicing, of residential mortgage loans) and/or (v), affecting the property securing the Settlement Mortgage, which violation, in the case of (3)(i) – (v), could reasonably be expected to have a Material Adverse Effect on the holder of the Settlement Mortgage, its designee or their respective assigns.
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Related to High Risk Mortgage

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Ship Mortgage shall have the meaning set forth for such term in the Intercreditor Agreement. Notice of Assignment ASSIGNMENT OF INSURANCE BY INTERNAL CHARTERERS Vantage Driller I Co. NOTICE OF ASSIGNMENT To Whom It May Concern: Vantage Driller IV Co., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Assignor”), HEREBY GIVES NOTICE that by an Assignment, dated October 25, 2012, and made by the Assignor to Xxxxx Fargo Bank, National Association (the “Assignee”), as Pari Passu Collateral Agent (as defined under the Intercreditor Agreement defined below), the Assignor assigned to the Assignee all of the Assignor’s right, title and interest in and to all insurances and the benefit of all insurances heretofore, now or hereafter taken out in respect of the Panamanian flag vessel TOPAZ DRILLER and all proceeds thereof. This Notice and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • mortgage agreement ’ means the note or debt instrument and the mortgage instrument, deed of trust instrument, trust deed, or instru- ment or instruments creating the mortgage, including any instrument incorporated by ref- erence therein (including any applicable regu- latory agreement), and any instrument or agreement amending or modifying any of the foregoing;

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Mortgage-backed security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

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

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Facility Mortgage As defined in Section 13.1.