Weighted Average Maximum Net Mortgage Rate definition

Weighted Average Maximum Net Mortgage Rate. For any Distribution Date, the weighted average of the Maximum Net Mortgage Rates of the adjustable-rate Mortgage Loans, or Net Mortgage Rates in the case of the fixed-rate Mortgage Loans, multiplied by a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.
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Weighted Average Maximum Net Mortgage Rate. The product of (a) the weighted average of the Maximum Net Mortgage Rates on the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the beginning of the related Due Period and (b) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Interest Accrual Period.
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Weighted Average Maximum Net Mortgage Rate. The Group II-A Weighted Average Maximum Net Mortgage Rate, Group II-B Weighted Average Maximum Net Mortgage Rate or Group III Weighted Average Maximum Net Mortgage Rate, as applicable.
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More Definitions of Weighted Average Maximum Net Mortgage Rate

Weighted Average Maximum Net Mortgage Rate. The weighted average of the Maximum Net Mortgage Rates on the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereon as of the beginning of the related Due Period.
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Related to Weighted Average Maximum Net Mortgage Rate

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Loans included in the Aggregate Net Collateral Balance, the number obtained by (a) summing the products obtained by multiplying (i) the Advance Rate of each Eligible Collateral Loan by (ii) such Eligible Collateral Loan’s contribution to the Aggregate Net Collateral Balance and dividing such sum by (b) the Aggregate Net Collateral Balance.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.