Common use of Negative Amortization Clause in Contracts

Negative Amortization. If the Mortgage Loan has a variable interest rate, it is not subject to negative amortization.

Appears in 3 contracts

Sources: Mortgage Loan Purchase and Servicing Agreement (New Century Financial Corp), Mortgage Loan Purchase and Servicing Agreement (Accredited Home Lenders Holding Co), Mortgage Loan Purchase and Servicing Agreement (New Century Financial Corp)

Negative Amortization. If the No Mortgage Loan has a variable interest rate, it is not subject to negative amortization.amortization or permits the deferral of accrued interest;

Appears in 2 contracts

Sources: Mortgage Loan Purchase and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3), Mortgage Loan Purchase and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)