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 Membership shall mean all escrow and impound accounts relating to the HELOCs including, without limitation, all accounts established for purposes of receiving funds for Escrow Payments, 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 into the terms of one HELOC, the fresh related Financial or any other document throughout the related Home loan Document or Guarantee Document.
Established Repair Contract shall mean the Third Amended and Restated Flow Servicing Agreement, dated , by and between Servicer and PennyMac Operating Partnership, L.
shall imply, for any date, the speed per annum (game right up, if necessary, for the nearest 1/100th of just one%) comparable to the common of the costs for the overnight government funds purchases which have members of new Federal Set-aside Program build of the government financing brokers into the like date, due to the fact compiled by the Government Put aside Lender of the latest York into the the organization Big date 2nd succeeding for example go out; provided that if such as day isnt a business Day or the fresh isnt therefore published when it comes down to time, the newest having like day are going to be like speed to the for example transactions towards second Business day once the very blogged into 2nd succeeding Business day.
Government Finance Rates
FIRREA shall mean, 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.
Simple Representations shall mean, with respect to Seller, the representations in Areas 4.step one, 4.2(a), 4.2(b), cuatro.2(c)(i), cuatro.2(c)(iv), 4.3 and cuatro.8 and, with respect to Purchaser, the representations in Parts 5.step one, 5.2(a), 5.2(b), cuatro.2(c)(i) and 5.2(c)(iv).
should indicate people applicable federal, supranational, government, county, local, provincial and other political, regulatory otherwise management power, agency otherwise commission or one courtroom, tribunal, otherwise official otherwise arbitral human body out of 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.
Political Entity
Highest Rates 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, Louisiane payday loans 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.