Ability to Repay Sample Clauses

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 ▇▇▇▇▇' 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. 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. 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 ▇▇▇▇▇▇▇ ▇▇▇, ▇▇ ▇.▇.▇. ▇▇▇▇▇(▇), and Regulation Z, 12 C.F.R. 1026.43, as may be amended from time to time.

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. To the extent that any Mortgage Loan is subject to the requirements of 12 C.F.R. § 1026.43(c), the Originator of such Mortgage Loan made a reasonable and good faith determination that the mortgagor would have a reasonable ability to repay the Mortgage Loan according to its terms, in accordance with 12 C.F.R § 1026.43(c).

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. 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 T▇▇▇▇-▇▇-▇▇▇▇▇▇▇ ▇▇▇, ▇▇ ▇.▇.▇. ▇▇▇▇▇(▇), and Section 1026.43(c) of Regulation Z.

Ability to Repay. For any Mortgage Loan, unless the Asset Schedule indicates that such Mortgage Loan is exempt from the ATR Rules, such Mortgage Loan complied with the “ability to repay” standards as set forth in Section 129C(a) of the federal Truth-in-Lending Act, 15 U.S.C. §1639c(a), and Section 1026.43(c) of Regulation Z.

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.