Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans. Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium. Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans. PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule 3. REO Companion Loan Any Serviced Companion Loan if the related Mortgaged Property has become an REO Property. In the case of a Companion Loan serviced under this Agreement, the term “Companion Loan” shall include a REO Companion Loan. Each Companion Loan is either a Pari Passu Companion Loan or a Subordinate Companion Loan. Initial Mortgage Loans The Mortgage Loans delivered by the Depositor on the Startup Date.ĪRD Loan Any Mortgage Loan that provides that if the unamortized principal balance thereof is not repaid on its Anticipated Repayment Date, such Mortgage Loan will accrue Additional Interest at the rate specified in the related Mortgage Note and the Mortgagor is required to apply excess monthly cash flow generated by the related Mortgaged Property to the repayment of the outstanding principal balance on such Mortgage Loan.Ĭompanion Loan With respect on any Loan Combination, as defined in the definition of “Loan Combination.” If, with respect to any Loan Combination, any promissory note evidencing a related Companion Loan is split and replaced with 2 or more replacement promissory notes, each such related promissory note will evidence a separate Companion Loan with respect to such Loan Combination. Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller. Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium. Subsequent Mortgage Loans means, for purposes of this Agreement, the Subsequent Mortgage Loans listed in the Subsequent Mortgage Loan Schedule attached hereto as Schedule I. Park Monaco: Park Monaco Inc., a Delaware corporation, and its successors and assigns, in its capacity as the seller of the Park Monaco Mortgage Loans to the Depositor.ĮMC Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which EMC is the applicable Seller. Park Granada Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Granada is the applicable Seller. Interfund loan means a loan of cash from one fund to another, subject to future repayment.ĬD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.įor any Mortgage Loan means the fifteenth day of the month.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |