Net Negative Amortization definition

Net Negative Amortization. For any Distribution Date and each Mortgage Pool, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in such Mortgage Pool for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans in such Mortgage Pool during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans in such Mortgage Pool during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the Mortgage Loans in such Mortgage Pool received during the related Prepayment Period.
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Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to the Mortgage Loans for the related calendar month prior to that Distribution Date, over (ii) the aggregate amount of items (2), (3), (4) and (5) of the definition of Principal Funds collected during the related Prepayment Period.
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Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the Mortgage Loans received during the related Prepayment Period.
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Examples of Net Negative Amortization in a sentence

  • P0 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1 and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1 and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • For any Distribution Date and the Class 2A-L and Class 2A-1B-L Regular Interests, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

  • P1 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • For any Distribution Date and the Class 2A-L Regular Interest, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

  • The amount of the reduction of Current Interest distributable to each class of Certificates attributable to Net Negative Amortization will be added to the Certificate Principal Balance of that class.

  • P0 = the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT1, LT2, LT3, LT4, LT6, LT7, LT8, LT10, LT11 and LT12 after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate principal balance of the Class LT1, LT2, LT3 and LT4 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • P0 = the aggregate principal balance of the Class LT1, LT2, LT3 and LT4 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT1, LT2, LT3, LT4, LT6, LT7, LT8, LT10, LT11 and LT12 after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.


More Definitions of Net Negative Amortization

Net Negative Amortization. For any Distribution Date and each Mortgage Pool, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in such Mortgage Pool for the related calendar month prior to that Distribution Date, over (ii) the aggregate amount of prepayments in full and partial prepayments received with respect to all Mortgage Loans in such Mortgage Pool during the related Prepayment Period.
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Net Negative Amortization. Means for any Payment Date and any group of Mortgage Loans the excess, if any, of (a) the aggregate Negative Amortization with respect to such Loan Group during the related Due Period over (b) voluntary Principal Prepayments for the related Prepayment Period and Loan Group.
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Net Negative Amortization means, with respect to the Pool II Loans or the Pool III Loans and any Distribution Date, the amount, if any, by which the aggregate Principal Balance of such Mortgage Loans increases after the distributions to be made on such Distribution Date.
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Net Negative Amortization. As to any Distribution Date and Loan Group 6, the excess, if any, of the aggregate Deferred Interest on the Group 6 Mortgage Loans with respect to the Due Date in the month of such Distribution Date over the aggregate amount of Principal Prepayments on the Group 6 Mortgage Loans received from mortgagors during the calendar month preceding the month of such Distribution Date.
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Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans in Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the related Mortgage Loans received during the related Prepayment Period.
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Related to Net Negative Amortization

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Consolidated Amortization Expense for any period means the amortization expense of the Issuer and the Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.