Jumbo Mortgage Loan is a collective reference to Jumbo Mortgage Loans (Standard Limit) and Jumbo Mortgage Loans (Specialty).
Jumbo Mortgage Loan. Unless defined otherwise in the Transactions Terms Letter, a first lien Mortgage Loan (i) for which the original loan amount is greater than the applicable conventional conforming loan limits set by the Federal Housing Finance Authority in the jurisdiction where the related Mortgaged Property is located and (ii) which meets the transaction requirements set forth on Schedule 1 of the Transactions Terms Letter.
Jumbo Mortgage Loan means an A quality first lien Mortgage Loan which is not eligible for sale to an Agency.
Examples of Jumbo Mortgage Loan in a sentence
If the Mortgage Loan is a Jumbo Mortgage Loan, it is eligible for sale to CL (even if CL is not the Approved Investor).
More Definitions of Jumbo Mortgage Loan
Jumbo Mortgage Loan means a Mortgage Loan that would otherwise be a Conforming Mortgage Loan secured by a first Lien Mortgage except that the original principal amount is more than the maximum Agency loan amount but not more than One Million Dollars ($1,000,000).
Jumbo Mortgage Loan means a Mortgage Loan (i) where the original outstanding principal amount of such Mortgage Loan exceeds the eligibility limits for purchases by Freddie Mac or Xxxxxx Xxx, (ii) that is originated in accordance with Buyer’s published guidelines and (iii) that is approved by Buyer in its sole discretion.
Jumbo Mortgage Loan means a first lien Mortgage Loan with a principal balance of not more than $2,000,000 that (a) except with respect to the original principal balance thereof, conforms to the requirements for securitization or cash purchase by an Agency or are eligible for pool insurance by an insurer acceptable to the Buyer, and (b) that either (i) will be sold or securitized by the Seller or (ii) is subject to Takeout Commitment.
Jumbo Mortgage Loan means a first lien Mortgage Loan which (i) conforms with all requirements of Seller’s underwriting guidelines, which are subject to Purchaser’s approval in its sole good faith discretion, as the same may be amended, supplemented or otherwise modified from time to time and (ii) has the benefit of the safe harbor from liability under the ATR Rules or a rebuttable presumption for such liability.
Jumbo Mortgage Loan means a first lien Mortgage Loan that has been originated in accordance with the Underwriting Guidelines for first lien mortgage loans with a principal balance greater than the balance permitted by an Agency.
Jumbo Mortgage Loan. Unless defined otherwise in the Transactions Terms Letter, a first lien mortgage loan or Cooperative Loan underwritten to the same high standards as a Conventional Conforming Mortgage Loan except with respect to the original principal balance, which is greater than that permitted by the Agencies but less than one million ($1,000,000) dollars.
Jumbo Mortgage Loan means a Mortgage Loan that would otherwise be a Conforming Mortgage Loan secured by a first Lien Mortgage except that the original principal amount is more than the maximum Agency loan amount but not more than $1,000,000.