P., an excellent Delaware limited union, just like the same concluded sometimes

P., an excellent Delaware limited union, just like the same concluded sometimes

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 personal loans online New Hampshire required to be escrowed by the Mortgagor with the

Mortgagee pursuant toward regards to any HELOC, this new associated Home loan and other file from the related Home loan Document otherwise Equity Document.

Existing Maintenance Agreement shall mean the Third Amended and Restated Flow Servicing Agreement, dated , by and between Servicer and PennyMac Operating Partnership, L.

shall imply, for day, the pace yearly (round upwards, if necessary, into the nearby step 1/100th of 1%) equal to the average of one’s prices into quickly federal money transactions with people in the Federal Put aside Program set-up of the federal fund brokers on the including date, just like the compiled by the fresh Government Reserve Financial of new York towards the firm Date second succeeding including go out; provided if the including big date is not a business Date or the latest isnt therefore published for the day, the fresh to possess such as for instance time should be such rates into including deals into next Working day because the so penned to the second succeeding Working day.

Federal Loans Speed

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.

Important Representations shall mean, with respect to Seller, the representations in Areas cuatro.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 Areas 5.step one, 5.2(a), 5.2(b), cuatro.2(c)(i) and 5.2(c)(iv).

shall mean one applicable national, supranational, federal, state, local, provincial or other governmental, regulatory otherwise administrative authority, agencies or fee or any courtroom, tribunal, or judicial or arbitral body 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.

Political Organization

Highest Rates Loan 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.