WMMSC Serviced Mortgage Loan definition

WMMSC Serviced Mortgage Loan. The Mortgage Loans, identified as such in the Mortgage Loan Schedule, for which WMMSC is the applicable Servicer.
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WMMSC Serviced Mortgage Loan. Each Mortgage Loan serviced by Washington Mutual Mortgage Securities Corp. and listed on the Mortgage Loan Schedule.
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Examples of WMMSC Serviced Mortgage Loan in a sentence

  • With respect to each WMMSC Serviced Mortgage Loan, WMMSC will furnish information regarding its borrower credit files to credit reporting agencies in compliance with the provisions of the Fair Credit Reporting Act and its implementing regulations applicable to WMMSC.

  • Notwithstanding anything in this Agreement to the contrary, the purchase of any WMMSC Serviced Mortgage Loan by any Person shall be subject to the rights of WMMSC to continue servicing such WMMSC Serviced Mortgage Loan for the same Servicing Fee substantially in accordance with the terms of this Agreement.

  • If directed by the Special Servicer and solely at the Special Servicer’s option, each Servicer, other than WMMSC (a “Transferring Servicer”), shall transfer the servicing of any Mortgage Loan (other than a WMMSC Serviced Mortgage Loan) 90 days or more delinquent to the Special Servicer.

  • If directed by the Special Servicer and solely at the Special Servicer’s option, each Servicer, other than WMMSC or Bank of America (a “Transferring Servicer”), shall transfer the servicing of any Mortgage Loan (other than a WMMSC Serviced Mortgage Loan or Bank of America Serviced Loan) 90 days or more delinquent to the Special Servicer.

  • With respect to any WMMSC Serviced Mortgage Loan, if the amount of Advances received from WMMSC is less than the amount required to be advanced by WMMSC, the Trust Administrator shall be obligated to make a payment in an amount equal to such deficiency, subject to any determination by the Trust Administrator that any portion of the amount required to be advanced is a Nonrecoverable Advance.

  • With respect to each WMMSC Serviced Mortgage Loan in Loan Group I, WMMSC will furnish information regarding its borrower credit files to credit reporting agencies in compliance with the provisions of the Fair Credit Reporting Act and its implementing regulations applicable to WMMSC.

  • If directed by the Special Servicer and solely at the Special Servicer’s option, each Servicer, other than WMMSC or UMS (a “Transferring Servicer”), shall transfer the servicing of any Group CB Mortgage Loan (other than a WMMSC Serviced Mortgage Loan or a UMS Serviced Mortgage Loan) 90 days or more delinquent to the Special Servicer.

  • The Servicer’s obligation to make such Advances as to any WMMSC Serviced Mortgage Loan will continue through the last Scheduled Payment due prior to the payment in full of such WMMSC Serviced Mortgage Loan, or through the date that the Mortgaged Property has, in the judgment of the Servicer, been completely liquidated.

  • If directed by the Special Servicer and solely at the Special Servicer’s option, each Servicer, other than WMMSC and WMBFA, (a “Transferring Servicer”), shall transfer the servicing of any Mortgage Loan (other than a WMMSC Serviced Mortgage Loan or a WMBFA Serviced Mortgage Loan) 90 days or more delinquent to the Special Servicer.

  • If directed by the Special Servicer and solely at the Special Servicer's option, the Master Servicer or a Servicer shall transfer the servicing of any Mortgage Loan (other than a WMMSC Serviced Mortgage Loan) 91 days or more delinquent to the Special Servicer.

Related to WMMSC Serviced Mortgage Loan

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Nonsubserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement.

  • Performing Serviced Mortgage Loan A Serviced Mortgage Loan that is not, and is not part of, a Specially Serviced Loan or REO Loan.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.

  • Corrected Mortgage Loan Any Mortgage Loan that had been a Specially Serviced Mortgage Loan but has ceased to be such in accordance with the definition of "Specially Serviced Mortgage Loan" (other than by reason of a Liquidation Event occurring in respect of such Mortgage Loan or a related Mortgaged Property becoming an REO Property).

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Deleted Mortgage Loan A Mortgage Loan replaced or to be replaced by a Qualified Substitute Mortgage Loan.

  • Streamlined Mortgage Loan A Mortgage Loan originated in connection with the refinance of a mortgage loan pursuant to the related Seller’s streamlined documentation program then in effect.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Mortgage Loan shall have the meaning assigned to such term in the recitals.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Special Hazard Mortgage Loan A Liquidated Mortgage Loan as to which a Special Hazard Loss has occurred.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.