5030 Mortgage Loan

5030 Mortgage Loan. Means a Mortgage Loan which has an original term to maturity of not more than thirty years from commencement of amortization, with a balloon payment in year thirty based upon a fifty year amortization schedule.

5030 Mortgage Loan. Shall mean a Mortgage Loan with a balloon payment feature that requires principal and interest payments sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than 50 years from commencement of amortization. The Buyer reserves the right to impose a sub-limit with respect to 50/30 Mortgage Loans hereunder upon five (5) Business Days written notice from the Buyer to the Seller; provided any 50/30 Mortgage Loans previously... purchased hereunder at the time of the creation of any 50/30 Mortgage Loan sub-limit shall not be subject to such sub-limit but any additional 50/30 Mortgage Loans to be purchased thereafter in excess of any such sub-limit shall be deemed to have an Asset Value of zero until such time that there is no longer a violation of such sub-limit hereunder. View More