Examples of Mortgaged Asset in a sentence
Such amount could be significantly higher than the amount obtained from the sale of a Mortgaged Asset under a distressed or liquidation sale.
This will materially affect the ability of the CBC to take recourse on the Mortgaged Asset and the Borrower in case the Borrower defaults under the Mortgage Loans and may affect the ability of the CBC to meet its payment obligations under the Covered Bonds.
The valuation is not a guarantee, indication or assurance of the present or future value of any relevant Mortgaged Asset.
There can be no assurance that a different person valuing any of the Mortgaged Assets would have arrived at the same or similar valuation attributable to the Mortgaged Asset associated with the Mortgage Receivable, even if such different person used the same approach and/or methodology to value such Mortgaged Asset.
In general, valuations represent the analysis and opinion of the valuator at the time of the valuation and are not guarantees of, and may not be indicative of, the present or future value of the relevant Mortgaged Asset.
If a valuation does not accurately reflect the up-to-date value or condition of the Mortgaged Asset, this could result in losses under the associated Mortgage Receivable if the Mortgaged Asset is foreclosed upon.
This could, for example, be the case if a Mortgage Loan is partly prepaid or if the value of the Mortgaged Asset has increased.
It is expected that the Originator's acceptance conditions will generally consider type of Mortgaged Asset, term of loan, age of applicant, the loan-to-value ratio, mortgage indemnity guarantee policies, high loan-to-value fees, status of applicants and credit history.
Accordingly, there is a risk that, on the enforcement of security over the relevant Mortgaged Asset not all amounts owing by a Borrower under a Mortgage Loan can be recovered from the proceeds of the foreclosure of the related Mortgaged Asset together with any proceeds of the enforcement of any other rights securing the Mortgage Receivable.
In addition, the ability of a Borrower to sell a Mortgaged Asset at a price sufficient to repay the amounts outstanding under that Transferred Assets will depend upon a number of factors, including the availability of buyers for that Mortgaged Asset, the value of that Mortgaged Asset and property values in general at the time.