REO Assets definition

REO Assets means any real property owned by any Person and acquired as a result of the foreclosure or other enforcement of a lien on such asset securing a Mortgage Loan.
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REO Assets of a Person shall mean a real estate asset owned by such Person and acquired as a result of the foreclosure or other enforcement of a lien on such asset securing a Servicing Advance or loans and other mortgage-related receivables purchased or originated by the Borrower or any of its Subsidiaries in the ordinary course of business.
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REO Assets of a Person shall mean any real property owned by such Person and acquired as a result of the foreclosure or other enforcement of a lien on such asset securing a loan, Servicing Advance or other mortgage-related receivables.
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Examples of REO Assets in a sentence

  • Purpose: The purpose of these standards is to serve as a guideline for valuations, reporting and overall management of Owner REO Assets.

  • Purpose: The purpose of these standards is to serve as a guideline for valuations, reporting and overall management of Goldman REO Assets.

  • Notwithstanding the foregoing, this Section 5.12(a) shall not (i) apply to any Excluded Collateral or (ii) require any Credit Party to grant a Mortgage in (x) any Leasehold, (y) any owned Real Property the book value of which is less than $5,000,000 or (z) any REO Assets.

  • The Seller will not (i) engage in any business other than the transactions contemplated by the Transaction Documents, (ii) incur any Indebtedness, obligation, liability or contingent obligation of any kind other than pursuant to this Agreement, or (iii) form any Subsidiary (other than a Subsidiary that solely owns and operates REO Assets) or make any Investments in any other Person.

  • No Assignor owns Real Property (other than REO Assets) with a book value equal to or greater than $5,000,000 as of the Issue Date.

  • All Real Property (other than REO Assets) owned by a Credit Party as of the Closing Date, with a book value as of September 30, 2017 of at least $5,000,000, is set forth on Schedule 3.12.

  • No Credit Party owns any Real Property (other than REO Assets and Capitalized Lease Obligations) with a book value as of June 30, 2018 of at least $1,000,000.

  • All Real Property (other than REO Assets) owned by a Credit Party as of the Closing Date, with a book value as of September 30, 2013 of at least $5,000,000, is set forth on Schedule 3.12.

  • All Real Property (other than REO Assets) owned by a Credit Party as of the Closing Date, with a book value as of September 31, 2012 of at least $2,500,000, is set forth on Schedule 3.12.

  • As of the Closing Date, no Credit Party owns any Real Property (other than REO Assets) with a book value as of September 30, 2016 of at least $1,000,000.


More Definitions of REO Assets

REO Assets of a Person means any real property owned by such Person and acquired (i) as a result of the foreclosure or other enforcement of a lien on such asset securing a loan, Servicing Advance or other mortgage-related receivables or (ii) from some other Person, including a Securitization Entity. “Replacement Lender” has the meaning specified in Section 2.19. “Required Lenders” means Lenders holding Effective Date Term Loan Exposure plus Second Draw Term Loan Exposure plus New Term Loan Exposure representing more than 50% of the sum of (i) the aggregate Effective Date Term Loan Exposure of all Lenders, (ii) the aggregate Second Draw Term Loan Exposure of all Lenders and (iii) the aggregate New Term Loan Exposure of all Lenders; provided that the loans of an Affiliated Lender or a Debt Fund Affiliate shall be excluded for purposes of making a determination of Required Lenders to the extent set forth in Section 10.5(f) or (g), as applicable. “Residual Funding Facility” means any funding arrangement with a financial institution or institutions or other lenders or purchasers under which advances are made to Parent or any Subsidiary secured by Residual Interests. 30
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REO Assets means the real property, including all improvements thereon: (i) listed on Schedule B, and (ii) of the Seller in respect of the loans described on Schedule A, in cases where the Seller has taken title to such real property on or prior to the Cut-Off Date but where additional collateral remains. References to the "Designated REO Assets" are to the REO Assets designated by the Purchaser in writing on or before the Closing, certain rights to which are being transferred under this Agreement, and references to the "Remaining REO Assets" are to the REO Assets other than the Designated REO Assets, certain rights to which are being transferred pursuant to the BlackRock Asset Purchase Agreement.
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Related to REO Assets

  • REO Asset of a Person means a real estate asset owned by such Person and acquired as a result of the foreclosure or other enforcement of a lien on such asset securing a Servicing Advance or loans and other mortgage-related receivables.

  • Portfolio Assets means all Loan Assets owned by the Borrower, together with all proceeds thereof and other assets or property related thereto, including all right, title and interest of the Borrower in and to:

  • REO Property A Mortgaged Property acquired by the Trust Fund through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.