Mortgage funds definition

Mortgage funds means the mortgage insurance fund created by section 122.561 of the Revised Code, and the housing guarantee fund created by division (D) of section 128.11 of the Revised Code.
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Mortgage funds or "Mortgage Funding" shall mean traditional institutional type mortgage loan financing.
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Mortgage funds shall have the meaning given to the term “Funds” in the Building Loan Agreement.
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Examples of Mortgage funds in a sentence

  • Mortgage funds cannot be requested until all of the conditions imposed by the mortgage company have been complied with and any defects in the title of your property agreed with the mortgage company.

  • The Mortgage funds shall be used to retire the Construction Loan and if there are any funds remaining the Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.

  • The DPA Second Mortgage must be registered and submitted for and issued a DPA commitment for the DPA Second Mortgage funds to be reserved.

  • The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales (See "PLAN OF DISTRIBUTION - Formation Loan").

  • The Partnership will loan to Redwood Mortgage funds in an amount equal to the sales commissions.

  • Mortgage funds have their greatest weights on mortgage backed securities.

  • Mortgage funds are paired with the Lehman US Mortgage Backed Securities Index.

  • Mortgage funds must be advanced and insured by FHA no later than the month prior to the month in which the related securities are issued.

  • Where we have released the Mortgage funds to your solicitor, you will have a period of 60 days from the date of us giving you notice of the change in which you can pay off the Mortgage in full without having to pay any early repayment charges.

  • The Mortgage funds shall be used to retire any outstanding hard construction costs including labor and materials.


More Definitions of Mortgage funds

Mortgage funds means, as the case may be, one or both of the NWM Primary Mortgage Fund and the NWM Balanced Mortgage Fund. “Net Asset Value” or “NAV” means at any particular time, in respect of a Fund, the net value of the assets of that Fund at such time determined in accordance with the DOT. “Net Asset Value Per Unit” means at any particular time, in respect of the Units of a Fund, the net asset value of such Units determined in accordance with the DOT. “Net Realized Capital Gains” means with respect to a particular fiscal year of a Fund, the realized capital gains of the Fund for such year, less the capital losses of the Fund for such year, determined by the Auditor in accordance with the DOT. “Net Income” means with respect to a particular fiscal year of a Fund, the net income of the Fund determined by the Auditor in accordance with the DOT. “Person” means any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation with or without share capital, unincorporated association, trust, trustee, executor, administrator or other legal personal representative, regulatory body or agency, government or governmental agency, authority or entity however designated or constituted. “Referral Fee” has the meaning set out in Item 7. “Sub Advisor” means a Person retained by the Manager on behalf of a Fund for the purpose of providing advice and making investment decisions with respect to the assets of one or more of the Funds. “Subscriber” means a Person who subscribes for Units of one or more of the Funds. “Subscription Agreement” means a subscription agreement for Units in such form (or forms if there is more than one) as the Manager may prescribe from time to time. “Tax Act” means the Income Tax Act (Canada) and the regulations promulgated thereunder, as amended from time to time. “Third Party Investment Funds” has the meaning set out in Item 2.8. “Trailer Fees” means fees paid by the Manager on an ongoing basis to investment dealers in respect of Subscribers who do not have Fee for ServiceAccounts to compensate them for services rendered to their clients.
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Related to Mortgage funds

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Mortgage Loans Such of the mortgage loans transferred and assigned to the Trustee pursuant to the provisions hereof as from time to time are held as a part of the Trust Fund (including any REO Property), the mortgage loans so held being identified in the Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition of title of the related Mortgaged Property.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.