MBS Advance definition

MBS Advance means any advance disbursed by or on behalf of the Servicer from its own funds with respect to any Mortgage Pool as required by the Xxxxxx Xxx Contract in order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Xxxxxx Mae Contract, specifically excluding (a) the Servicer’s use of excess funds from one Mortgage Pool to cover MBS Advances attributable to another Mortgage Pool in either (i) Servicer’s “Xxxxxx Xxx I MBS Program P&I Custodial Account” or (ii) Servicer’s “Xxxxxx Xxx XX MBS Program P&I Custodial Account,” in either case, to cover shortfalls caused by delinquent loans sharing the same “P&I Custodial Account,” as permitted under Section 15-5(A) of the Xxxxxx Mae Guide, and (b) any advance disbursed by an Interim Servicer related to Acquired MSRs until such time as Servicer completes reconciliation of such advances with the Interim Servicer and pays the Interim Servicer for such advances.
Sample 1Sample 2
MBS Advance means any advance disbursed by the Servicer from its own funds with respect to any Mortgage Pool as required by the Xxxxxx Xxx Contract in order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Xxxxxx Mae Contract.
Sample 1
MBS Advance. Any advance disbursed by or on behalf of the Servicer from its own funds with respect to any Mortgage Pool as required by the Xxxxxx Xxx Contract in order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Xxxxxx Mae Contract, specifically excluding (a) the Servicer’s use of excess funds from one Mortgage Pool to cover MBS Advances attributable to another Mortgage Pool in either (i) Servicer’s “Xxxxxx Xxx I MBS Program P&I Custodial Account” or (ii) Servicer's “Xxxxxx Xxx XX MBS Program P&I Custodial Account,” in either case, to cover shortfalls caused by delinquent loans sharing the same “P&I Custodial Account,” as permitted under Section 15-5(A) of the Xxxxxx Mae Guide, and (b) any advance disbursed by an Interim Servicer related to Acquired MSRs until such time as Servicer completes reconciliation of such advances with the Interim Servicer and pays the Interim Servicer for such advances.
Sample 1

Examples of MBS Advance in a sentence

  • Any payment of MBS Advances by Noteholders of MBS Advance VFNs shall constitute a draw on such VFN and shall increase its VFN Principal Balance by the amount of such draw.

  • If there is a MBS Advance, the MBS Advance VFN may be drawn in accordance with the terms of the related Indenture Supplement.

  • MBS Advance VFN: Any Series of Variable Funding Notes designated in the related Indenture Supplement as available and solely to be drawn upon following the Servicer’s failure to pay a required MBS Advance, or following any other default by the Servicer under the Ginnie Mae Contract, to make the full required cure payment on the related MBS and preserve the Indenture Trustee’s rights under the Acknowledgment Agreement.

  • Nothing contained herein shall in any way be deemed to be a grant of power or authority to the Indenture Trustee or any officer or agent thereof to take any of the actions described in this paragraph with respect to any underlying Obligor under any Mortgage Pool, for which a MBS Advance was made or Servicing Fee was accrued.

  • Advance: Collectively, any Servicing Advance and any MBS Advance.

  • MBS Advance Reimbursement Amounts shall be allocated to the P&I Advance Reimbursement Available Funds Account of the Collection and Funding Account.

  • If there is an MBS Advance, the MBS Advance VFN may be drawn in accordance with the terms of the related Indenture Supplement.

  • On each Payment Date, the Indenture Trustee shall transfer from the Collection and Funding Account (and, with respect to MBS Advance Reimbursement Amounts, all such amounts on deposit in the P&I Advance Reimbursement Available Funds Account) to the Note Payment Account all funds then on deposit therein.

  • The Servicer hereby irrevocably appoints the Noteholder(s) of any Outstanding MBS Advance VFN with the authority (but no obligation) to make any MBS Advance on the Servicer’s behalf to the extent the Servicer fails to make any required payments on the related MBS when required to do so pursuant to the Ginnie Mae Contract.

  • MBS Advance Balance: On any date of determination, the aggregate monetary value of all out-of-pocket MBS Advances unreimbursed to, or not netted from subsequent collections by, the Servicer.


More Definitions of MBS Advance

MBS Advance means any advance disbursed by or on behalf of the Servicer from its own funds with respect to any Mortgage Pool as required by the Xxxxxx Xxx Contract in LEGAL02/43438676v8 order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Xxxxxx Xxx Contract, specifically excluding (a) the Servicer’s use of excess funds from one Mortgage Pool to cover MBS Advances attributable to another Mortgage Pool in either (i) Servicer’s “Xxxxxx Xxx I MBS Program P&I Custodial Account” or (ii) Servicer’s “Xxxxxx Xxx XX MBS Program P&I Custodial Account,” in either case, to cover shortfalls caused by delinquent loans sharing the same “P&I Custodial Account,” as permitted under Section 15-5(A) of the Xxxxxx Xxx Guide, and (b) any advance disbursed by an Interim Servicer related to Acquired MSRs until such time as Servicer completes reconciliation of such advances with the Interim Servicer and pays the Interim Servicer for such advances.
Sample 1
MBS Advance. Any advance disbursed by the Servicer from its own funds with respect to any Mortgage Pool as required by the Gxxxxx Mxx Contract in order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Gxxxxx Mae Contract.
Sample 1
MBS Advance means any advance disbursed by the Servicer from its own funds with respect to any Mortgage Pool as required by the Xxxxxx Xxx Contract in order to provide for the payment of principal and interest amounts due on the related MBS on its remittance date under the Xxxxxx Mae Contract and specifically excluding (a) the Servicer’s use of excess funds from one Mortgage Pool to cover MBS Advances attributable to another Mortgage Pool, as permitted under Section 15-5(A) of the Xxxxxx Xxx Guide, and (b) any advance disbursed by an Interim Servicer related to Acquired MSRs until such time as Servicer completes reconciliation of such advances with the Interim Servicer and pays the Interim Servicer for such advances.
Sample 1

Related to MBS Advance

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Revolving Advance has the meaning given in Section 2.1.

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

  • Eligible advance means an advance made before August 19, 1993.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Unpaid Advance has the meaning assigned to such term in Section 2.05.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Equipment Advance is defined in Section 2.1.1.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

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

  • Monthly Advance The portion of each Monthly Payment that is delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Future Advance means an Advance made after the Initial Closing Date.

  • Permitted Advance means an advance of funds by the Assuming Bank with respect to a Shared-Loss Loan, or the making of a legally binding commitment by the Assuming Bank to advance funds with respect to a Shared-Loss Loan, that (i) in the case of such an advance, is actually made, and, in the case of such a commitment, is made and all of the proceeds thereof actually advanced, within one (1) year after the Commencement Date, (ii) does not cause the sum of (A) the book value of such Shared-Loss Loan as reflected on the Accounting Records of the Assuming Bank after any such advance has been made by the Assuming Bank plus (B) the unfunded amount of any such commitment made by the Assuming Bank related thereto, to exceed 110% of the Book Value of such Shared-Loss Loan, (iii) is not made with respect to a Shared-Loss Loan with respect to which (A) there exists a related Shared-Loss Loan Commitment or (B) the Assuming Bank has taken a Charge-Off and (iv) is made in good faith, is supported at the time it is made by documentation in the Credit Files and conforms to and is in accordance with the applicable requirements set forth in Article III of this Commercial Shared- Loss Agreement and with the then effective written internal credit policy guidelines of the Assuming Bank; provided, that the limitations in subparagraphs (i), (ii) and (iii) of this definition shall not apply to any such action (other than to an advance or commitment related to the remediation, storage or final disposal of any hazardous or toxic substance, pollutant or contaminant) that is taken by Assuming Bank in its reasonable discretion to preserve or secure the value of the collateral for such Shared-Loss Loan.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • 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.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.