Ability to Repay Sample Clauses

Ability to Repay. Before originating the Mortgage Loan, the originator made a reasonable and good faith determination that the borrower would have a reasonable ability to repay the loan according to its terms, in accordance with the “ability to repay” standards of the federal Truth in Xxxxxxx Xxx, 00 X.X.X. 0000x(x), and Regulation Z, 12 C.F.R. 1026.43, as may be amended from time to time.

Ability to Repay. Before originating the Purchased Mortgage Loan, the originator made a reasonable and good faith determination that the borrower would have a reasonable ability to repay the loan according to its terms, in accordance with the “ability to repay” standards of the federal Truth in Lending Act, 15 U.S.C. 1639c(a), and Regulation Z, 12 C.F.R. 1026.43, as may be amended from time to time, or for Mortgage Loans not covered by Regulation Z, in accordance with any other state and federal laws, rules and regulations that would be used by a prudent underwriter of Mortgage Loans.

Ability to Repay. Notwithstanding anything to the contrary set forth in this Agreement, on and after January 10, 2014 (or such later date as set forth in the relevant regulations), prior to the origination of each HELOC, the originator made a reasonable and good faith determination that the Mortgagor had a reasonable ability to repay the loan according to its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c); provided that a modification subsequent to the date listed above shall not be considered an “origination” of a HELOC or a “covered transaction” as long as no new Credit Agreement is executed and delivered and the interest rate of the related HELOC is not increased.

Ability to Repay. Notwithstanding anything to the contrary set forth in this Agreement, on and after January 10, 2014 (or such later date as set forth in the relevant regulations), prior to the origination of the Mortgage Loan, the originator made a reasonable and good faith determination that the mortgagor had a reasonable ability to repay the loan according to its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c).

Ability to Repay. Notwithstanding anything to the contrary set forth in this Repurchase Agreement, on and after January 10, 2014 (or such later date as the relevant regulations may go into effect) before the consummation of each Mortgage Loan, the Originator made a reasonable and good faith determination that the Mortgagor has a reasonable ability to repay the loan according to its terms, and that at a minimum, the Originator underwrote the loan in accordance with the eight underwriting factors set forth in 12 C.F.R. § 1026.43(c).

Ability to Repay. Each fiscal year SDIC will: i. Include the amount of the Note payment in its annual budget, ii. Appropriate sufficient funds for the Note payment that is due in such fiscal year, and iii. Include in its annual budget designated funds for capital reserves and operating reserves with a combined balance equal to no less than the amount shown below for each fiscal year. FY 2023 - FY 2032 Unpaid principal as of the beginning of each FY Unpaid principal as of the end of each FY SDIC agrees to levy additional or increased assessments, secure funds from other sources, and make any reductions in its annual budget in order to fund this commitment.

Ability to Repay. Prior to the origination of each Mortgage Loan, the originator made a reasonable and good faith determination that the borrower would have a reasonable ability to repay the Mortgage Loan according to its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 C.F.R. § 1026.43(c)(2) as the same may be amended from time to time (or any successor statute or regulation). The Mortgage File for each Mortgage Loan contains all necessary third-party records and other evidence and documentation to demonstrate such compliance by the related Mortgage Loan with 12 C.F.R. § 1026.43(c) as the same may be amended from time to time (or any successor statute or regulation). Seller shall provide in connection with the delivery of each Mortgage Loan, a documentation capsule in the Mortgage File and Servicing File that fully documents how each Mortgage Loan meets the ability to repay requirements of 12 C.F.R. § 1026.43

Ability to Repay. For any Mortgage Loan where an application for the Mortgage Loan was taken on or after January 10, 2014, such Mortgage Loan complied with the “ability to repay” standards as set forth in Section 129C(a) of the federal Txxxx-xx-Xxxxxxx Xxx, 00 X.X.X. 0000x(x), and Section 1026.43(c) of Regulation Z.

Ability to Repay. All Mortgage Loans must comply with ability to repay (ATR) regulations. Regardless of the underwriting method used, at the time of origination the PFI must determine that Borrowers can afford to make the regular monthly Mortgage Loan payments and have a reasonable ability and likelihood of repaying their mortgage debt in compliance with Applicable Laws. The MPF Xxxxx' willingness to purchase Mortgage Loans made to Borrowers with higher credit risk is still predicated on the use of the MPF Program underwriting guidelines that require the Borrower have a reasonable ability to make the mortgage payments to successfully maintain homeownership.

Ability to Repay. Notwithstanding anything to the contrary set forth in this Repurchase Agreement, on and after January 10, 2014 (or such later date as the relevant regulations may go into effect) (i) before the consummation of each Mortgage Loan, the Originator made a reasonable and good faith determination that the Mortgagor has a reasonable ability to repay the loan according to its terms, and that at a minimum, the Originator underwrote the loan in accordance with the underwriting factors set forth in 12 CFR 1026.43(c); and (ii) each Mortgage Loan is a “Qualified Mortgage” as defined in 12 CFR 1026.43(e).