Weighted Average Net Mortgage Rate definition
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 Net Mortgage Rate. As to any Distribution Date and Loan Group, the average of the Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the end of the Prepayment Period related to the immediately preceding Distribution Date.
Weighted Average Net Mortgage Rate. With respect to the Mortgage Loans in the aggregate, and any Due Date, the average of the Net Mortgage Rate for each Mortgage Loan as of the last day of the related Due Period weighted on the basis of the related Principal Balances outstanding as of the last day of the related Due Period for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures.
Examples of Weighted Average Net Mortgage Rate in a sentence
Pass-Through Rate: lesser of 6.089% per annum or the Weighted Average Net Mortgage Rate.
After the first possible Distribution Date after the first possible Optional Termination Date, such Pass-Through Rate will increase to a per annum rate equal to 0.50%, subject to a cap equal to the Weighted Average Net Mortgage Rate.
Interest will accrue on each of the Class T2-11, Class T2-12 and Class T2-13 Interests at the excess, if any, of the Adjusted Weighted Average Net Mortgage Rate over the REMIC 2 Pass-Through Rate.
Such amounts with respect to interest shall accrue at the Weighted Average Net Mortgage Rate on each REMIC A Regular Interest.
Interest will accrue on the Class TB-2 Interest at the excess, if any, of the Weighted Average Net Mortgage Rate over the Class A-IO Pass-Through Rate.
More Definitions of Weighted Average Net Mortgage Rate
Weighted Average Net Mortgage Rate. With respect to any Distribution Date, the rate per annum equal to the weighted average, expressed as a percentage and rounded to six decimal places, of the respective Net Mortgage Rates applicable to the Mortgage Loans as of the first day of the related Collection Period, weighted on the basis of their respective Stated Principal Balances immediately following the preceding Distribution Date.
Weighted Average Net Mortgage Rate. With respect to any Distribution Date, the REMIC II Remittance Rate for each REMIC II Regular Interest for such Determination Date.
Weighted Average Net Mortgage Rate. With respect to any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates in effect for the Mortgage Loans (including any Non-Serviced Mortgage Loan) and REO Loan (other than the portion of the REO Loan related to any Companion Loan) as of their respective Due Dates in the month preceding the month in which such Distribution Date occurs, weighted on the basis of their respective Stated Principal Balances immediately following the Distribution Date (or, if applicable, the Closing Date) in such preceding month.
Weighted Average Net Mortgage Rate. With respect to either of Loan Group I or Loan Group II, the weighted average (based on Principal Balance as of the first day of the related Collection Period or, in the case of the first Distribution Date, the Cut-Off Date) of the Net Mortgage Interest Rates of the Mortgage Loans of such Loan Group, expressed as an annual rate and calculated on the basis of twelve months consisting of 30 days each and a 360-day year.
Weighted Average Net Mortgage Rate. With respect to any Interest Accrual Period, a per annum rate equal to the weighted average of the Net Mortgage Rates, as of the related Due Date (weighted on the basis of the Scheduled Principal Balance of each Mortgage Loan).
Weighted Average Net Mortgage Rate. The weighted average (based on Principal Balance) of the Net Mortgage Rates of the Mortgage Loans, expressed as an annual rate and calculated on the basis of twelve months consisting of 30 days each and a 360-day year.
Weighted Average Net Mortgage Rate. With respect to the Mortgage Loans in the aggregate, and any Due Date, the average of the Net Mortgage Rate for each Mortgage Loan as of the last day of the related Due Period weighted on the basis of the related Principal Balances out standing as of the last day of the related Due Period for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer’s normal servicing procedures.