Step Down Rolling Delinquency Test definition

Step Down Rolling Delinquency Test. The Step Down Rolling Delinquency Test will be met with respect to a Distribution Date if the Rolling Delinquency Percentage for such Distribution Date is __% or less.
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Step Down Rolling Delinquency Test. The Step Down Rolling Delinquency Test will be met with respect to a Payment Date if the Rolling Delinquency Percentage for such Payment Date is 10.00% or less.
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Step Down Rolling Delinquency Test. As such term is defined in the Insurance and Indemnity Agreement.
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Examples of Step Down Rolling Delinquency Test in a sentence

  • Step Down Rolling Delinquency Test...................................


More Definitions of Step Down Rolling Delinquency Test

Step Down Rolling Delinquency Test. On any relevant Distribution Date and with respect to the Adjustable Rate Group, the related Rolling Delinquency Percentage is less than [ ]%.
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Step Down Rolling Delinquency Test. With respect to any Distribution Date and either Mortgage Loan Group, a determination as to whether the Rolling Delinquency Percentage for such Distribution Date and such Mortgage Loan Group is less than 12.50%.
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Step Down Rolling Delinquency Test. The Step Down Rolling Delinquency Test ---------------------------------- will be met, with respect to a Distribution Date and the PWRES Mortgage Loans, if the Rolling Delinquency Percentage for such Distribution Date and such PWRES Mortgage Loans is less than 6.00%.
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Related to Step Down Rolling Delinquency Test

  • Delinquency Test means, for any Payment Date, a test that will be satisfied if

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Delinquency Trigger means, for any Payment Date and the related Collection Period, 24.00%.

  • 60+ Day Delinquent Mortgage Loan (i) Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), including, without limitation, such Mortgage Loans that are subject to bankruptcy proceedings, (ii) each Mortgage Loan in foreclosure and (iii) all REO Property.