Example Definitions of "Buyers' Margin Percentage"
Buyers' Margin Percentage. (i) for all Purchased Loans except Mortgage Loans (USBHM), Jumbo Mortgage Loans, Super Jumbo Mortgage Loans, High LTV Mortgage Loans, and Second Mortgage Loans (USBHM), ninety-eight percent (98%); (ii) for Mortgage Loans (USBHM), other than Second Mortgage Loans (USBHM), ninety-nine percent (99%); (iii) for Second Mortgage Loans (USBHM), ninety-eight percent (98%). (iv) for other Jumbo Mortgage Loans, ninety-five percent (95%); (v) for other Super Jumbo Mortgage Loans, ninety-five percent... (95%); and (vi) for High LTV Mortgage Loans, ninety-three percent (93%). Notwithstanding the foregoing, subject to the next sentence, for Conforming Mortgage Loans that are FHA-insured, the Buyers' Margin Percentage shall, as of any date of determination, be as set forth in the table below based on the HUD Compare Ratio calculated as of the end of the most recent month for which the Seller has furnished the certificate required by Section 16.3(c): HUD Compare Ratio Buyers' Margin Percentage Less than or equal to 1.60 to 1.00 98% Greater than 1.60 to 1.00 but less than or equal to 1.80 to 1.00 75% Greater than 1.80 to 1.00 but less than or equal to 2.00 to 1.00 50% Greater than 2.00 to 1.00 0% Notwithstanding the foregoing, (a) any reduction to the Buyers' Margin Percentage contemplated by the preceding sentence shall be made only at the option of the Agent exercisable on or after the first day following the delivery of the applicable certificate, and (b) if the Seller has not timely furnished the certificate required by Section 16.3(c) for any month, then, at the option of the Agent, until the first day following the delivery of such certificate for such month, the Buyers' Margin Percentage for FHA-insured Conforming Mortgage Loans shall be calculated as if the HUD Compare Ratio were greater than 2.00 to 1.00.View More
Buyers' Margin Percentage. (i) for all Purchased Loans except Mortgage Loans (USBHM), Jumbo Conforming Mortgage Loans, Super Jumbo Mortgage Loans, High LTV Mortgage Loans, ninety-seven percent (97%); and Second Mortgage Loans (USBHM), ninety-eight percent (98%); (ii) for Mortgage Loans (USBHM), other than Second Mortgage Loans (USBHM), ninety-nine percent (99%); (iii) for Second Mortgage Loans (USBHM), ninety-eight percent (98%). (iv) for other Jumbo Mortgage Loans, ninety-five percent (95%); (v) for other Super Jumbo... Mortgage Loans, ninety-five percent (95%); and (vi) for High LTV Mortgage Loans, ninety-three percent (93%). (95%). Notwithstanding the foregoing, subject to the next sentence, for Conforming Mortgage Loans that are FHA-insured, the Buyers' Margin Percentage shall, as of any date of determination, be as set forth in the table below based on the HUD Compare Ratio calculated as of the end of the most recent month for which the Seller has furnished the certificate required by Section 16.3(c): HUD Compare Ratio Buyers' Margin Percentage Less than or equal to 1.60 to 1.00 98% 97% Greater than 1.60 to 1.00 but less than or equal to 1.80 to 1.00 75% Greater than 1.80 to 1.00 but less than or equal to 2.00 to 1.00 50% Greater than 2.00 to 1.00 0% Notwithstanding the foregoing, (a) any reduction to the Buyers' Margin Percentage contemplated by the preceding sentence shall be made only at the option of the Agent exercisable on or after the first day following the delivery of the applicable certificate, (b) subject to the following clause "(c)," during the period before delivery of the certificate required by Section 16.3(c) for the month ending September 30, 2012, the Buyers' Margin Percentage for FHA-insured Conforming Mortgage Loans shall be 97%, and (b) (c) if the Seller has not timely furnished the certificate required by Section 16.3(c) for any month, then, at the option of the Agent, until the first day following the delivery of such certificate for such month, the Buyers' Margin Percentage for FHA-insured Conforming Mortgage Loans shall be calculated as if the HUD Compare Ratio were greater than 2.00 to 1.00. View More
Buyers' Margin Percentage. (i) for all Purchased Loans, except Low CLTV MIP Mortgage Loans, High CLTV MIP Mortgage Loans, and Jumbo Mortgage Loans, 95%; (ii) for Low CLTV MIP Mortgage Loans, including for Wet Loans that are Low CLTV MIP Mortgage Loans, 94%; (iii) for Jumbo Mortgage Loans, including for Wet Loans that are Jumbo Mortgage Loans and Everbank Jumbo Mortgage Loans, 93%; and (iv) for High CLTV MIP Mortgage Loans, including for Wet Loans that are High CLTV MIP Mortgage Loans, 92%.
Buyers' Margin Percentage. (i) for all Eligible Loans except Jumbo Mortgage Loans (including, for the avoidance of doubt, Jumbo Mortgage Loans (USBHM)) and Rural Development Guaranteed Housing Loans, ninety-seven percent (97%); (ii) for Jumbo Mortgage Loans (other than Jumbo Mortgage Loans (USBHM)), ninety-five percent (95%); (iii) for Jumbo Mortgage Loans (USBHM), ninety-eight percent (98%); (iv) for Wet Loans, the Buyer's Margin Percentage for the underlying type of Purchased Loan which would apply if such Purchased... Loan were a Dry Loan; and (v) for Rural Development Guaranteed Housing Loans, ninety- two percent (92%).View More
Buyers' Margin Percentage. (i) for all Eligible Loans except Jumbo Mortgage Loans (including, for the avoidance of doubt, Jumbo Mortgage Loans (USBHM)) and Rural Development Guaranteed Housing Loans, ninety-seven percent (97%), provided that if at any time the HUD Compare Ratio as shown on the most recent Compliance Certificate delivered to the Agent is greater than or equal to 1.60 to 1.00, the Buyers' Agent may, at its option, adjust the Buyers' Margin Percentage for FHA Loans to no less than (A) if such HUD Compare... Ratio is greater than or equal to 1.60 to 1.00 but less than 1.80 to 1.00, seventy-five percent (75%); (B) if such HUD Compare Ratio is greater than or equal to 1.80 to 1.00 but less than 2.00 to 1.00, fifty percent (50%); and (C) if such HUD Compare Ratio is greater than 2.00 to 1.00, zero (0%); (ii) for Jumbo Mortgage Loans (other than Jumbo Mortgage Loans (USBHM)), ninety-five percent (95%); (iii) for Jumbo Mortgage Loans (USBHM), ninety-eight percent (98%); (iv) for Wet Loans, the Buyer's Margin Percentage for the underlying type of Purchased Loan that would apply if such Purchased Loan were a Dry Loan; and (v) for Rural Development Guaranteed Housing Loans, ninety-two percent (92%).View More
