Payoff Interest. For any Distribution Date with respect to a Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Pass-Through Rate from the first day of the month of distribution through the day of receipt thereof; to the extent (together with Payoff Earnings and the aggregate Master Servicing Fee) not required to be distributed as Compensating Interest on such Distribution Date, Payoff Interest shall be payable to the Master Servicer as additional servicing compensation.
Payoff Interest. For any Distribution Date with respect to each WMMSC Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof; to the extent (together with Payoff Earnings and the portion of the aggregate Servicing Fee described in clause (i)(a) of the definition of Compensating Interest Payment payable to WMMSC) not required to be distributed as a Compensating Interest Payment on such Distribution Date, Payoff Interest shall be payable to WMMSC as additional servicing compensation. For any Distribution Date with respect to each SPS Serviced Mortgage Loan and Xxxxx Fargo Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof.
Payoff Interest. For any Distribution Date with respect to a Loan for which a Payoff was received by the Servicer during the Prepayment Period, an amount of interest thereon at the applicable Pass-Through Rate from the first day of such Prepayment Period to the date of receipt thereof.
Examples of Payoff Interest in a sentence
Thus, the FI gains when the prices of futures fall.Short PositionLong PositionPayoff Interest Interest Payoff Interest Interest gain rates rise rates fall gain rates rise rates fall0115 13/32 %Futures 0 price115 13/32 %Futures pricePayoff lossPayoff loss 4 Part 5 Risk Management in Financial Institutions canceling ΔR/(1 + R) on both sides.23DF (NF × PF ) = (DA — kDL ) ASolving for NF (the number of futures to buy or sell) gives:N = (DA — kDL ) AF DF × PF Short Hedge.
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Include all relevant information to support criteria and procedures.ConsistencyThis is not the current version of this VCS Program document.
More Definitions of Payoff Interest
Payoff Interest. For any Distribution Date with respect to each WMMSC Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof; to the extent (together with Payoff Earnings and the portion of the aggregate Servicing Fee described in clause (i) of the definition of Compensating Interest Payment payable to WMMSC) not required to be distributed as a Compensating Interest Payment on such Distribution Date, Payoff Interest shall be payable to WMMSC as additional servicing compensation.
Payoff Interest. For any Distribution Date with respect to each SPS Serviced Mortgage Loan and Xxxxx Fargo Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day and 14th calendar day, respectively, of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof. PCAOB: The Public Company Accounting Oversight Board.
Payoff Interest. For any Distribution Date with respect to each SPS Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof.
Payoff Interest. For any Distribution Date with respect to a WMB Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Pass-Through Rate from the first day of the month of distribution through the day of receipt thereof; to the extent (together with aggregate Payoff Earnings and the aggregate WMB Servicing Fee) not required to be distributed as WMB Compensating Interest on such Distribution Date, aggregate Payoff Interest shall be payable to the Servicer as additional servicing compensation.
Payoff Interest. For any Distribution Date with respect to a Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Pass-Through Rate from the first day of the month of distribution through the day of receipt thereof; to the extent (together with Payoff Earnings and the aggregate Servicing Fee) not required to be distributed as Compensating Interest on such Distribution Date, Payoff Interest shall be payable to the Servicer as additional servicing compensation.
Payoff Interest. For any Distribution Date with respect to a Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Pass-Through Rate from the first day of the month of distribution through the day of receipt thereof; to the extent (together with Payoff Earnings and the portion of the Servicing Fee described in clause (i)(a) of the definition of Compensating Interest) not required to be distributed as Compensating Interest on such Distribution Date, Payoff Interest shall be payable to the Servicer as additional servicing compensation.
Payoff Interest. For any Distribution Date with respect to each WMMSC Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof; to the extent (together with Payoff Earnings and the portion of the aggregate Servicing Fee described in clause (i) of the definition of Compensating Interest Payment payable by WMMSC) not required to be distributed as a Compensating Interest Payment on such Distribution Date, Payoff Interest shall be payable to WMMSC as additional servicing compensation. For any Distribution Date with respect to each Fairbanks Serviced Mortgage Loan for which a Payoff was received on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, an amount of interest thereon at the applicable Net Mortgage Rate from the first day of such month through the day of receipt thereof; to the extent (together with the aggregate Servicing Fee payable to Fairbanks in respect of the Fairbanks Serviced Mortgage Loans for such Distribution Date) not required to be distributed as a Compensating Interest Payment on such Distribution Date, Payoff Interest shall be payable to Fairbanks as additional servicing compensation.