HOEPA Loan definition

HOEPA Loan. A Mortgage Loan which (a) the Owner has identified to the Servicer in the Mortgage Loan Schedule as being subject to HOEPA, or (b) which the Servicer discovers is subject to HOEPA. Index: With respect to each Adjustable Rate Mortgage Loan, the index set forth in the related Mortgage Note.
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HOEPA Loan. A Mortgage Loan which (a) the Owner has identified to the Servicer in the Mortgage Loan Schedule as being subject to HOEPA, or (b) which the Servicer discovers is subject to HOEPA. HUD: The Department of Housing and Urban Development, or any federal agency or official thereof which may from time to time succeed to the functions thereof with regard to FHA Mortgage Insurance. The term “HUD,” for purposes of this Agreement, is also deemed to include subdivisions thereof such as the FHA and Government National Mortgage Association. Index: With respect to each Adjustable Rate Mortgage Loan, the index set forth in the related Mortgage Note.
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HOEPA Loan a Mortgage Loan subject to the Home Ownership and Equity Protection Act of 1994 (“HOEPA”).
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Examples of HOEPA Loan in a sentence

  • Further, prior to the commencement of any loss mitigation procedures with respect to a HOEPA Loan, the Servicer shall notify those servicing personnel involved in loss mitigation related to the Mortgage Loan as to whether or not any such disclosure documentation is defective or missing.

  • In addition, once the Servicer determines to commence a foreclosure proceeding with respect to a HOEPA Loan, but prior to such commencement, the Servicer and its outside counsel shall review the Mortgage File to determine whether or not the requirements of HOEPA shall have been satisfied in connection with the origination, underwriting, servicing and sale of such HOEPA Loan, including whether or not required and accurate disclosures were made to and acknowledged by the related Mortgagor(s).

  • In addition, once the Company determines to commence a foreclosure proceeding with respect to any such HOEPA Loan, but prior to such commencement, the Company and its outside counsel shall review the Mortgage File to determine whether or not the requirements of HOEPA shall have been satisfied in connection with the origination, underwriting, servicing and sale of such HOEPA Loan, including whether or not required and accurate disclosures were made to and acknowledged by the related Mortgagor(s).

  • Further, prior to the commencement of any loss mitigation procedures with respect to any such HOEPA Loan, the Company shall notify those servicing personnel involved in loss mitigation related to the Mortgage Loan as to whether or not any such disclosure documentation is defective or missing.

  • The term "HOEPA Loan" shall mean any loan which meets the definition in 15 U.S.C. ss.

  • Delta shall not enter into any HOEPA Loan which provides for an "increase in the interest rate after default" as set forth in 12 C.F.R. ss.

  • Delta shall not underwrite a HOEPA Loan (defined below) without regard to the ability of the borrower to repay such loan.

  • Upon receipt of notice of any HOEPA Loan, Purchaser shall cause servicing of such HOEPA Loan (and the related Servicing Rights) to be transferred from Servicer to a subsequent servicer designated by Purchaser as soon as reasonably practicable, and Servicer shall cooperate in such transfer After reviewing the environmental inspection report, the Purchaser shall determine how the Servicer shall proceed with respect to the Mortgaged Property.

  • With respect to any Mortgage Loan that (a) is a HOEPA Loan and with respect to which Servicer is not proceeding to liquidation as a result of loan file or other defects, or (b) is collateralized by a Mortgaged Property and the Servicer is not proceeding to liquidation as a result of environmental contamination, the Servicer shall be entitled to be reimbursed for its Servicing Advances from amounts in the Custodial Account pursuant to Section 2.05 hereof.


More Definitions of HOEPA Loan

HOEPA Loan. A Mortgage Loan which (a) is subject to HOEPA or (b) which the Servicer discovers is subject to HOEPA. Index: With respect to each Adjustable-Rate Mortgage Loan, the index set forth in the related Mortgage Note.
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HOEPA Loan. A Mortgage Loan which (a) is subject to HOEPA or (b) which the Servicer discovers is subject to HOEPA. Inbound Transfer Date: The date on which the Servicer begins servicing the related Mortgage Loan pursuant to this Agreement. Index: With respect to each Adjustable-Rate Mortgage Loan, the index set forth in the related Mortgage Note.
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HOEPA Loan. A Mortgage Loan subject to the Home Ownership and Equity Protection Act of 1994 (“HOEPA”). Index: With respect to each Adjustable Rate Mortgage Loan, the index set forth in the related Mortgage Note.
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HOEPA Loan means any Loan that breaches the Home Ownership and Equity Protection Act of 1994 and its implementing regulations, including 12 CFR § 226.32.
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HOEPA Loan means any loan which meets the definition in 15 U.S.C. ss. 1602(aa) and regulations promulgated thereunder. 3. The terms "close" or "closing" or "closed" when used in relation to a loan shall mean the date on which the loan transaction is "consummated" as defined in 12 C.F.R. ss. 226.2(a)(13). 4. The term "mortgage broker" shall mean a person defined as such in 24 C.F.R. ss. 3500.2. 5. The term "par" when used in relation to the interest rate on a loan shall mean the interest rate at which Delta will grant a loan to a given borrower without charging discount points or paying a "yield spread premium." 6. The term "yield spread premium" shall mean a fee paid by Delta to a mortgage broker, computed by reference to the interest rate, incident to a loan in which the interest rate is above par. [7-10: Reserved]
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Related to HOEPA Loan

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • PPP Loan has the meaning set forth in Section 3.28.

  • FHA Loan A Mortgage Loan which is the subject of an FHA Insurance Contract as evidenced by a Mortgage Insurance Certificate.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Term Loan as defined in Section 2.1.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • LPMI Loan A Mortgage Loan with a LPMI Policy.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • U.S. Revolving Loan means Loans made by a Lender in respect of its U.S. Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(a) and/or Section 2.24.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).