News
Burden shall mean any lien, mortgage, deed of trust, right-of-way, right of setoff, assessment, security interest, pledge, lease, attachment, adverse claim, levy, charge, easement, restriction, license, encumbrance, or other similar restriction or any conditional sale Contract, title retention Contract, option to purchase or lease, right of first refusal or offer, restriction on transfer, preemptive right or other Contract giving rise to any of the foregoing.
Escrow Profile shall mean all escrow and impound accounts relating to the HELOCs including, without limitation, all accounts established for purposes of receiving funds for Escrow Money, suspense, buydown funds, unapplied balances, replacement reserve balances, loss draft balances (including interest accrued thereon for the benefit of the Mortgagors under the HELOCs if required by applicable Law or the applicable Mortgage Files), completion escrow monies and any other miscellaneous cash balances held with respect to the HELOCs.
Escrow Payments shall mean, with respect to any HELOC, to the extent applicable, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, flood insurance premiums, condominium charges and other payments required to be escrowed by the Mortgagor with the
Mortgagee pursuant to your terms of any HELOC, the new relevant Financial and other document about relevant Mortgage File otherwise Collateral Document.
Established Upkeep Arrangement shall mean the Third Amended and Restated Flow Servicing Agreement, dated , by and between Servicer and PennyMac Operating Partnership, L.
should mean, for any time, the pace yearly (rounded up, if necessary, to your nearest step one/100th of just one%) comparable to the typical of one’s rates towards immediately government financing transactions having members of the brand new Federal Put aside Program created because of the federal funds agents for the such as day, once the published by this new Government Reserve Financial of brand new York into the the business Go out second succeeding such as for example day; provided that when the such as for instance big date isnt a business Day or the fresh new is not therefore blogged for any big date, the brand new having like go out can be eg rates to the such as for example transactions for the next Business day because thus had written towards the second thriving Business day.
Federal Funds Speed
FIRREA shall mean personal loans for bad credit Delaware, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and any regulations promulgated thereunder, each as amended, and in effect as of the applicable date of determination.
Freddie Mac shall mean the entity formally known as the Federal Home Loan Mortgage Corporation (FHLMC) or any successor thereto.
Practical Representations shall mean, with respect to Seller, the representations in Areas 4.step one, cuatro.2(a), cuatro.2(b), 4.2(c)(i), 4.2(c)(iv), cuatro.step 3 and cuatro.8 and, with respect to Purchaser, the representations in Areas 5.step 1, 5.2(a), 5.2(b), 4.2(c)(i) and 5.2(c)(iv).
should indicate people applicable national, supranational, federal, county, regional, provincial or any other governmental, regulatory otherwise management authority, agencies or payment or people courtroom, tribunal, otherwise judicial or arbitral muscles regarding competent legislation.
HELOCs shall mean all adjustable-rate, first and second lien revolving home equity line of credit loans identified on the related Mortgage Loan Schedule including, to extent related thereto, all scheduled and unscheduled payments, liquidation proceeds, insurance proceeds, condemnation proceeds, real estate owned disposition proceeds, any escrow amounts related to the HELOC, all Additional Balances with respect thereto, the related Mortgage Files and all other rights, benefits, proceeds and obligations arising from or in connection with the HELOC.
HELOC Interest rate shall mean the rate of interest borne on such HELOC in accordance with the applicable Credit Agreement.
Governmental Entity
High Costs Mortgage shall mean a HELOC that is (a) a high cost mortgage loan under the Home Ownership and Equity Protection Act of 1994, as amended, (b) a high cost home, threshold, covered, high risk home, predatory, abusive, or similarly defined loan, including refinance loans, under any other applicable state, federal or local law or regulation (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees) or (c) categorized as High Cost pursuant to Appendix E of Standard & Poor’s LEVELS Glossary, as revised from time to time. For avoidance of doubt, the parties agree that this definition shall apply to any law regardless of whether such law is presently, or in the future becomes, the subject of judicial review or litigation.
Burden shall mean any lien, mortgage, deed of trust, right-of-way, right of setoff, assessment, security interest, pledge, lease, attachment, adverse claim, levy, charge, easement, restriction, license, encumbrance, or other similar restriction or any conditional sale Contract, title retention Contract, option to purchase or lease, right of first refusal or offer, restriction on transfer, preemptive right or other Contract giving rise to any of the foregoing.
Escrow Profile shall mean all escrow and impound accounts relating to the HELOCs including, without limitation, all accounts established for purposes of receiving funds for Escrow Money, suspense, buydown funds, unapplied balances, replacement reserve balances, loss draft balances (including interest accrued thereon for the benefit of the Mortgagors under the HELOCs if required by applicable Law or the applicable Mortgage Files), completion escrow monies and any other miscellaneous cash balances held with respect to the HELOCs.
Escrow Payments shall mean, with respect to any HELOC, to the extent applicable, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, flood insurance premiums, condominium charges and other payments required to be escrowed by the Mortgagor with the
Mortgagee pursuant to your terms of any HELOC, the new relevant Financial and other document about relevant Mortgage File otherwise Collateral Document.
Established Upkeep Arrangement shall mean the Third Amended and Restated Flow Servicing Agreement, dated , by and between Servicer and PennyMac Operating Partnership, L.
should mean, for any time, the pace yearly (rounded up, if necessary, to your nearest step one/100th of just one%) comparable to the typical of one’s rates towards immediately government financing transactions having members of the brand new Federal Put aside Program created because of the federal funds agents for the such as day, once the published by this new Government Reserve Financial of brand new York into the the business Go out second succeeding such as for example day; provided that when the such as for instance big date isnt a business Day or the fresh new is not therefore blogged for any big date, the brand new having like go out can be eg rates to the such as for example transactions for the next Business day because thus had written towards the second thriving Business day.
Federal Funds Speed
FIRREA shall mean personal loans for bad credit Delaware, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and any regulations promulgated thereunder, each as amended, and in effect as of the applicable date of determination.
Freddie Mac shall mean the entity formally known as the Federal Home Loan Mortgage Corporation (FHLMC) or any successor thereto.
Practical Representations shall mean, with respect to Seller, the representations in Areas 4.step one, cuatro.2(a), cuatro.2(b), 4.2(c)(i), 4.2(c)(iv), cuatro.step 3 and cuatro.8 and, with respect to Purchaser, the representations in Areas 5.step 1, 5.2(a), 5.2(b), 4.2(c)(i) and 5.2(c)(iv).
should indicate people applicable national, supranational, federal, county, regional, provincial or any other governmental, regulatory otherwise management authority, agencies or payment or people courtroom, tribunal, otherwise judicial or arbitral muscles regarding competent legislation.
HELOCs shall mean all adjustable-rate, first and second lien revolving home equity line of credit loans identified on the related Mortgage Loan Schedule including, to extent related thereto, all scheduled and unscheduled payments, liquidation proceeds, insurance proceeds, condemnation proceeds, real estate owned disposition proceeds, any escrow amounts related to the HELOC, all Additional Balances with respect thereto, the related Mortgage Files and all other rights, benefits, proceeds and obligations arising from or in connection with the HELOC.
HELOC Interest rate shall mean the rate of interest borne on such HELOC in accordance with the applicable Credit Agreement.
Governmental Entity
High Costs Mortgage shall mean a HELOC that is (a) a high cost mortgage loan under the Home Ownership and Equity Protection Act of 1994, as amended, (b) a high cost home, threshold, covered, high risk home, predatory, abusive, or similarly defined loan, including refinance loans, under any other applicable state, federal or local law or regulation (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees) or (c) categorized as High Cost pursuant to Appendix E of Standard & Poor’s LEVELS Glossary, as revised from time to time. For avoidance of doubt, the parties agree that this definition shall apply to any law regardless of whether such law is presently, or in the future becomes, the subject of judicial review or litigation.