Principal Reduction definition

Principal Reduction. With respect to any Distribution Date and for each Loan Group, the sum of the Principal Remittance Amount and any Realized Losses from the Mortgage Loans in the related Loan Group, less any Subsequent Recoveries from the Mortgage Loans in the related Loan Group. Principal Reductions shall consist proportionately of principal allocations comprising the Principal Remittance Amount and Realized Losses, and the REMIC 1 Interest allocated a principal payment shall receive such payment on such Distribution Date and shall have its principal balance reduced by an allocation of Realized Losses.

Principal Reduction means a reduction in the principal amount of the Reference Security other than in connection with a scheduled or non-scheduled payment of principal. The definition of “Publicly Available Information” in the Definitions shall be amended by adding the following paragraphs (vi) and (vii):

Principal Reduction means, on each Payment Date, an amount equal to the sum of (i) all Loss Payments, if any, paid or payable by the Reinsurer to the Ceding Insurer on such Payment Date under this Agreement and (ii) any Partial Repayment Amount applied to the Series 2014-2 Notes on such Payment Date.

Examples of Principal Reduction in a sentence

• Detailed guidelines on the Principal Reduction Alternative were released in Supplemental Directive 10-05 on June 3, 2010.

• No less than $93,750,000 of the 1st/2nd Lien Principal Reduction Obligation will come from consumers who meet the eligibility criteria described in Paragraph 1 of Exhibit D (“1st Lien Principal Reduction Obligation”).

• The Servicer will provide a minimum of $187,500,000 in creditable relief to consumers who meet the eligibility criteria in the forms and amounts described in Paragraphs 1 or 2 of Exhibit D and/or Paragraph 6 of Exhibit I (“1st/2nd Lien Principal Reduction Obligation”).

• Under the Principal Reduction Alternative (“PRA”), servicers of non-GSE loans are required to evaluate the benefit of principal reduction for mortgages with a loan-to-value ratio of 115 percent or greater when evaluating a homeowner for a HAMP first-lien modification.

• Creditable First Lien Mortgage Modifications include: Standard Principal Reduction Modifications (Exhibit D-1, ¶ 1.i); Forbearance Conversions (Exhibit D-1, ¶ 1.ii); Conditional Forgiveness Modifications (Exhibit D, ¶ 1.i); Streamline Modifications (Exhibit D, ¶ 1.f; Exhibit I ¶ 8.a.v); FHA Principal Reductions (Exhibit D, ¶ 1.j.i); and Government Modifications (Exhibit D, ¶ 1.j.ii).

More Definitions of Principal Reduction

Principal Reduction means reductions of the outstanding principal amount hereunder whether by virtue of voluntary, scheduled or mandatory prepayments.

Principal Reduction means with respect to each Class of Notes, on each Payment Date, an amount equal to the aggregate Loss Payments allocated to such Class of Notes on such Payment Date, if any, provided that the aggregate of all Principal Reductions for each Class of Notes cannot exceed the Original Capital Amount of such Class of Notes.

Principal Reduction means payment to reduce of outstanding principal mortgage balance.

Principal Reduction shall have the meaning assigned to that term in Section 3.05(a) (Allocation of Principal Reduction Payments) of this Agreement.

Principal Reduction is defined in Section 2.2(e). “Third Amendment Effective Date” is March 11, 2016.

Principal Reduction means the aggregate of all amounts paid, other than Delinquency Advances or regularly scheduled principal payments, to reduce the Unpaid Principal Balance of a Mortgage Loan and cause a corresponding reduction in Fxxxxx Mae’s obligations under the Credit Enhancement Agreement with respect to such Mortgage Loan; but only to the extent such principal reduction is made, or approved in writing, by Fxxxxx Mae.

Principal Reduction means any reduction in the Adjusted Principal Amount as a result of the application of any Special Cash Payment or Cash Reorganization Event Distribution.