Simple Interest Mortgage Loan Those simple interest loans as noted on the Mortgage Loan Schedule under the data field designated “DSI.”
Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.
Available Interest means, with respect to any Payment Date, the total of the following amounts allocable to interest received by the Servicer on or in respect of the Receivables during the related Collection Period (computed by the simple interest method): (i) the sum of the interest component of all (a) collections on or in respect of all Receivables other than Defaulted Receivables, (b) Net Liquidation Proceeds, (c) Advances made by the Servicer, if any, (d) Warranty Purchase Payments, (e) Administrative Purchase Payments and (f) the Yield Supplement Withdrawal Amount, if any, for the related Payment Date, less (ii) the sum of all (a) amounts received on or in respect of a particular Receivable (other than a Defaulted Receivable) to the extent of the aggregate Outstanding Interest Advances in respect of such Receivable and (b) Net Liquidation Proceeds with respect to a particular Receivable to the extent of the aggregate Outstanding Interest Advances in respect of such Receivable.
Lower Tier Principal Distribution Amount With respect to any calendar month, the sum of (i) the Cash Flow Distribution Amount and (ii) the Lower Tier Accrual Amount, if any.
Group II Senior Principal Distribution Amount The excess of (x) the aggregate Certificate Principal Balance of the Group II Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 58.00% and (ii) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) minus the related Overcollateralization Floor.
Group 1 Senior Principal Distribution Amount with respect to any Distribution Date, is an amount equal to the Class A Principal Distribution Amount multiplied by the Group 1 Percentage.
Group I Senior Principal Distribution Amount The excess of (x) the Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 60.70% and (ii) the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) minus the related Overcollateralization Floor.
Group III Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III (exclusive of the portion thereof attributable to principal distributions to the Class III-P-L Regular Interest pursuant to clauses (I)(c)(i) and (II)(c)(i) of the definition of "REMIC II Distribution Amount"), (b) the Group III Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III (exclusive of the portion thereof attributable to principal distributions to the Class III-P-L Regular Interest pursuant to clauses (I)(c)(i) and (II)(c)(i) of the definition of "REMIC II Distribution Amount") and (c) the Group III Senior Liquidation Amount.
Capitalized Interest Amount means, with respect to each Distribution Date following a Collection Period during which amounts are on deposit in the Prefunding Account, an amount equal to the greater of:
Note A Percentage Interest means a fraction, expressed as a percentage, the numerator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance, and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance and the Note B Principal Balance.
Loan Group 1 Principal Distribution Amount or "Loan Group 2 Principal Distribution Amount"; fourth, as a recovery of Nonrecoverable Advances; fifth, in accordance with the Servicing Standards, as a recovery of any other amounts due and owing on such Mortgage Loan or Companion Loan, as applicable, including, without limitation, Penalty Charges, Yield Maintenance Charges and Excess Interest; and sixth, as a recovery of principal of such Mortgage Loan or Companion Loan, as applicable, to the extent of its entire unpaid principal balance. Notwithstanding the preceding, such provisions shall not be deemed to affect the priority of distributions of payments. To the extent that such amounts are paid by a party other than a Mortgagor, such amounts shall be deemed to have been paid in respect of a purchase of all or part of the Mortgaged Property (in the case of Insurance and Condemnation Proceeds or Liquidation Proceeds) and then paid by the Mortgagor under the Mortgage Loan or Companion Loan, as applicable, in accordance with the preceding sentence. Amounts collected on any REO Loan shall be deemed to be applied in accordance with the definition thereof.
REMIC 2 Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and related REO Properties then outstanding and (ii) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LTAA minus the Marker Rate, divided by (b) 12.
REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.
Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.
Capitalized Interest Account The separate Eligible Account designated as such and created and maintained by the Trustee pursuant to Section 3.05(h) hereof. The Capitalized Interest Account shall be treated as an "outside reserve fund" under applicable Treasury regulations and shall not be part of any REMIC. Except as provided in Section 3.05(h) hereof, any investment earnings on the amounts on deposit in the Capitalized Interest Account shall be treated as owned by the Depositor and will be taxable to the Depositor.
Group 2 Senior Principal Distribution Amount with respect to any Distribution Date, is an amount equal to the Class A Principal Distribution Amount multiplied by the Group 2 Percentage.
REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest II-LTAA minus the Marker Rate, divided by (b) 12.
Class A Percentage Interest As of any date of determination, with respect to the Class A Regular Interest and the Class A Certificates, a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class A Certificates, and the denominator of which is the Certificate Balance of the Class A Regular Interest.
Class A/B Interest Coverage Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes and the Class B Notes. For the purposes of calculating the Class A/B Interest Coverage Ratio, the expected interest income on Collateral Debt Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes and the Class B Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.
Advance Interest Amount means interest payable on Advances, as specified in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.
Net Simple Interest Shortfall With respect to any Distribution Date, the excess, if any, of (a) 30 days’ interest at the weighted average (by principal balance) of the Net Mortgage Rates of the Simple Interest Mortgage Loans as of the first day of the related Due Period, as determined by the Servicer, on the aggregate principal balance of such Simple Interest Mortgage Loans for such Remittance Date, carried to six decimal places, rounded down, and calculated on the basis of a 360-day year consisting of twelve 30-day months, over (b) the amount of the payments received by the Servicer in the related Due Period allocable to interest in respect of such Simple Interest Mortgage Loans, calculated in accordance with the Simple Interest Method, net of the related Servicing Fees.
Class A-P Principal Distribution Amount With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to the aggregate of:
Senior Principal Distribution Amount As to any Distribution Date and any Loan Group, the sum of (i) the related Senior Percentage of all amounts described in clauses (a) through (d) of the definition of Principal Amount for that Loan Group and such Distribution Date, (ii) with respect to any Mortgage Loan that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the lesser of (x) the related Senior Percentage of the Stated Principal Balance of such Mortgage Loan and (y) either (A) if no Excess Losses were sustained on the Liquidated Mortgage Loan during the preceding calendar month, the related Senior Prepayment Percentage the amount of the Liquidation Proceeds allocable to principal received on the Mortgage Loan or (B) if an Excess Loss was sustained with respect to such Liquidated Mortgage Loan during such preceding calendar month, the Senior Percentage of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan, and (iii) the sum of (x) the Senior Prepayment Percentage of the amounts described in clause (f) of the definition of Principal Amount for that Loan Group and such Distribution Date, and (y) the applicable Senior Prepayment Percentage of any Subsequent Recoveries described in clause (g) of the definition of Principal Amount for that Loan Group and such Distribution Date; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in that Loan Group that is not a Liquidated Mortgage Loan, the Senior Principal Distribution Amount will be reduced on the related Distribution Date by the Senior Percentage of the applicable principal portion of such Bankruptcy Loss; provided further, however, on any Distribution Date after the third Senior Termination Date, the Senior Principal Distribution Amount for the remaining Senior Certificate Group will be calculated pursuant to the above formula based on all the Mortgage Loans in the Mortgage Pool, as opposed to the Mortgage Loans in the related Loan Group.
Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.
Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.
REMIC II Principal Loss Allocation Amount With respect to any Distribution Date, an amount equal to the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) 1 minus a fraction, the numerator of which is two times the aggregate Uncertificated Balance of REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and the denominator of which is the aggregate Uncertificated Balance of REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC II Regular Interest II-LTZZ.
FAQs
What is a single interest group? ›
Single-issue politics are a form of litmus test; common examples are abortion, taxation, animal rights, environment, and guns. The National Rifle Association in the United States, which has only one specific interest, is an example of a single-issue group.
Which of the following is the best definition of an interest group? ›An interest group is best defined as an organization that: tries to influence public policy for a group of people with common interests.
What is a special interest group in simple terms? ›A special interest group (SIG) is a community within a larger organization with a shared interest in advancing a specific area of knowledge, learning or technology where members cooperate to affect or to produce solutions within their particular field, and may communicate, meet, and organize conferences.
What are some examples of interest groups? ›- ABA Commission on Homelessness and Poverty.
- AIDS Policy Center for Children, Youth, and Families.
- Affordable Housing Industry Information.
- American Association of People with Disabilities.
- American Association of Retired Persons.
- American Consulting Engineers Council.
- American Enterprise Institute for Public Policy Research.
Ideological or Single Issue Groups: A single-issue interest group, by definition is involved in activities that center around a narrowly defined subject. A single-issue group may or may not be interested in economically benefiting its members, or the public -- that depends on what the group's single issue is.
What is the definition of an interest group quizlet? ›Interest Group definition: An organization of people who share common political interests and aim to influence public policy by electioneering and lobbying. Interest Group.
What are the 3 types of interest groups quizlet? ›What are the main types of interest groups? Interest groups can be divided into five types: economic, societal, ideological, public interest, and governmental.
What is the single biggest benefit of interest groups to policy makers? ›Interest groups facilitate citizen participation in government, organizing individuals to take collective action through voting, fundraising, and disseminating information about their issues to elected officials and the public.
Which of the following are key functions of interest groups? ›The two principal functions of interest groups are representation and education.
What is the meaning of specific interest? ›Definitions of special interest. an individual or group who are concerned with some particular part of the economy and who try to influence legislators or bureaucrats to act in their favor.
What is considered a special interest? ›
Special interests are something you find intensely interesting. Some people pursue their special interest by reading about it but others pursue it by thinking about it or doing it.
What are some other names for special interest groups? ›- PAC.
- interest group.
- lobby.
- political action committee.
- pressure group.
- single-issue group.
- vested interest.
The NAACP is an example of a public interest group.
Who are the common cause interest group? ›Sometimes identified as liberal-leaning, Common Cause has also been identified as nonpartisan and advocates government reform. It is identified with the reformist "good government" movement and is often described as a watchdog group.
How do interest groups influence government? ›Interest groups may lobby the executive branch on executive, judicial, and other appointments that require Senate confirmation. As a result, interest group members may be appointed to positions in which they can influence proposed regulation of the industry of which they are a part.
Which of the following statements is most likely true of a single-issue interest group? ›Which is most likely true of single-issue interest groups? They are more cohesive than other types of interest groups.
What is the single biggest benefit of interest groups to policy makers quizlet? ›Groups provide valuable research and education to policymakers and the public on specific issues.
What is a common characteristic of people who join single-issue groups quizlet? ›The private sector has no incentive to produce goods that everyone has access to. What is a common characteristic of people who join single-issue groups? They tend to be uncompromising in their policy positions.
What is the main purpose of an interest group quizlet? ›The fundamental goal of interest groups is to influence public policy. Interest groups do this by gathering a huge group of people that have a stand on a certain issue to get the attention from a national institution to fix or create a policy to go with their needs.
Which of the following is true of interest groups quizlet? ›Which of the following is true of interest groups? They influence the government only through indirect methods.
What is a common interest group? ›
The purpose of a Common Interest Group is to encourage groups of individuals to come together in an organic and flexible way around shared intellectual topics or professional concerns.
What are the main two types of interest? ›Two main types of interest can be applied to loans—simple and compound. Simple interest is a set rate on the principal originally lent to the borrower that the borrower has to pay for the ability to use the money. Compound interest is interest on both the principal and the compounding interest paid on that loan.
What type of interest group is AAA? ›AAA is a privately held not-for-profit national member association and service organization with over 60 million members in the United States and Canada. AAA provides services to its members, including roadside assistance and others.
What is the difference between sectional interest groups and public interest group? ›Sectional interest groups are those that represent the interests of a particular section of the society. They aim for the betterment of their members only. A public interest group is one that represents the interest of the entire society in general.
How do interest groups lobby the courts? ›Lobbying the Judicial Branch
Interest groups work to influence the courts in a number of ways. Interest groups often file amicus curiae (friend of the court) briefs, presenting an argument in favor of a particular issue. Sometimes interest groups file lawsuits against the government or other parties.
The primary goal of an Interest Group is to bring together people who wish to evaluate potential Web technologies and policies. An Interest Group is a forum for the exchange of ideas.
What interest group spends the most on lobbying? ›In 2022, the top lobbying spender in the United States was the U.S. Chamber of Commerce, with a total spending of 59.61 million U.S. dollars.
What includes all members of the group of interest? ›A population refers to the whole number of items or the entire group of people that are of interest in the statistical study.
What are people who represent interest groups to legislators called? ›Professional lobbyists are people whose business is trying to influence legislation, regulation, or other government decisions, actions, or policies on behalf of a group or individual who hires them.
What is a group of people connected by one or more common interests called? ›A community of interest, or interest-based community, is a community of people who share a common interest or passion.
Can you have more than one special interest? ›
Often a person will have multiple special interests, especially as they get older and experience more of the world. People with special interests are often incredibly knowledgable about these topics.
What does specific mean in law? ›1 : relating to a particular thing. 2 : intended for or restricted to a particular end or object. 3 : being of a particularly identified kind or nature.
What is the difference between exact interest and ordinary interest? ›Ordinary simple interest is a simple interest that uses 360 days as the equivalent number of days in a year. On the other hand, Exact simple interest is a simple interest that uses exact number of days in a year which is 365 (or 366 for leap year).
What are restricted interests examples? ›Restricted interests are strong or intense interests in specific topics or objects. Restricted interests are common in people with autism spectrum disorder (ASD). For example, a person might be interested in a specific TV show, math or drawing.
Can special interests come and go? ›Special interests can seem to arrive from nowhere and last for weeks, months or even years. One thing is fairly certain – when one interest ends it will be replaced by another.
What are the best hobbies for Aspergers? ›Hobbies such as collecting stamps, playing cards or board games, drawing and photography can also provide opportunities for enjoyment, as well as increased self-confidence and motivation individuals on the spectrum.
Do Lobbyists represent special interest groups? ›Formally, a lobbyist is someone who represents the interest organization before government, is usually compensated for doing so, and is required to register with the government in which he or she lobbies, whether state or federal.
What are special interest groups quizlet? ›special interest group. an organization of people who share a common interest and work together to protect and promote that interest by influencing the government.
Which is the best example of a special interest group? ›Amnesty International, Mothers Against Drunk Driving (MADD), and People for the Ethical Treatment of Animals (PETA) are all examples of influential special interest groups.
Which interest group is an example of a single? ›The National Rifle Association in the United States, which has only one specific interest, is an example of a single-issue group.
What is an interest group role? ›
Interest groups are formed to promote the interests or concerns of their members. They are primarily concerned with influencing public policy. Because a key function is to exert pressure on political decision-makers, interest groups are sometimes referred to as 'pressure' or 'lobby' groups.
Which among the following is an interest group? ›Trade unions, business associations and professional (lawyers, doctors, teachers, etc.)
What is an interest group quizlet? ›Interest Group definition: An organization of people who share common political interests and aim to influence public policy by electioneering and lobbying. Interest Group.
Why do interest groups litigate? ›Interest groups use litigation in part to gain funds and end activities that they deem inappropriate, and also to gain media coverage. For example, a cycling interest group may sue a state to end an unfair law that favors drivers who may injure or kill cyclists.
What is the most common type of interest group in the United States quizlet? ›Business groups are the most common type of interest group; more than half of all registered lobbyists work for business organizations. The U.S. Chamber of Commerce, for example, seeks pro-business policies in general, not just policies that help one part of the economy.
What are examples of interest groups? ›- ABA Commission on Homelessness and Poverty.
- AIDS Policy Center for Children, Youth, and Families.
- Affordable Housing Industry Information.
- American Association of People with Disabilities.
- American Association of Retired Persons.
- American Consulting Engineers Council.
- American Enterprise Institute for Public Policy Research.
Which of these best describes an interest group? petition or a vote of party leaders.
What is a shared interest group? ›This SIG focuses on the idea-sharing and networking of those involved in communication activities at their associations to keep them informed of current developments and issues. This includes publications, public relations, media relations, advertising, marketing, and other related areas.
What type of interest group is common cause? ›Sometimes identified as liberal-leaning, Common Cause has also been identified as nonpartisan and advocates government reform. It is identified with the reformist "good government" movement and is often described as a watchdog group.
What is the function of interest group? ›Interest groups are formed to promote the interests or concerns of their members. They are primarily concerned with influencing public policy. Because a key function is to exert pressure on political decision-makers, interest groups are sometimes referred to as 'pressure' or 'lobby' groups.
How do you identify common interest groups? ›
- MeetUp (Web, iOS, Android)
- Vingle (Web, iOS, Android)
- Patook (Web, iOS, Android)
- We3 (iOS, Android)
- Bumble BFF (iOS, Android)
- MeetMe (iOS, Android)
- Hobify (iOS, Android)
- Lobbying - Direct contact made by a lobbyist in order to persuade government officials to support the policies their interest group favors. ...
- Interest groups - A group of people with common goals who organize to influence the government.
interest group, also called special interest group, advocacy group, or pressure group, any association of individuals or organizations, usually formally organized, that, on the basis of one or more shared concerns, attempts to influence public policy in its favour.
What are two ways interest groups influence elections? ›Lawmakers rely on interest groups and lobbyists to provide them with information about the technical details of policy proposals, as well as about fellow lawmakers' stands and constituents' perceptions, for cues about how to vote on issues, particularly those with which they are unfamiliar.