Flipping definition

Flipping a consumer home loan means the making of a consumer home loan that refinances within forty‑two months an existing consumer home loan of the borrower when the new loan does not have a reasonable, tangible net benefit to the borrower, considering all the circumstances, including the terms of both the new and refinanced loans, the cost of the new loan, and the borrower’s circumstances.
Sample 1Sample 2Sample 3
Flipping means the process of purchasing, renovating, and attempting to sell the property for a quick profit.
Sample 1Sample 2Sample 3
Flipping means knowingly refinancing an existing home loan when any of the following occurs:
Sample 1Sample 2

Examples of Flipping in a sentence

  • Flipping, running and bouncing off the walls is dangerous and can cause serious injury and must be done at your own risk.


More Definitions of Flipping

Flipping means when a person performs, employs others to perform, or for compensation with the intent to sell the structure, arranges to have performed any work described in R.I. Gen. Laws § 5-65-1(3) if within a twelve-month period offers for sale that structure on which that work was performed and who is required to be registered with the Board.
Sample 1Sample 2
Flipping means the purchase of property, whether or not remodeled or reconstructed after its purchase, that is sold or transferred to a new owner within six (6) months of its purchase.
Sample 1Sample 2Sample 3
Flipping or "churning" means making a consumer home
Sample 1Sample 2
Flipping a mortgage loan means refinancing a mortgage loan within 12 months following the date the refinanced loan was originated, unless the refinancing is in the borrower’s best interest
Sample 1

Related to Flipping

  • Load Shedding means the systematic reduction of system demand by temporarily decreasing load in response to transmission system or area capacity shortages, system instability, or voltage control considerations under Tariff, Part II or Part III.

  • Coasting has the meaning given by regulations under subsection (3) of section 60B of the Education and Inspections Act 2006 in relation to a school to which that section applies.

  • Enslavement means the exercise of any or all of the powers attaching to the right of ownership over a person and includes the exercise of such power in the course of trafficking in persons, in particular women and children;

  • Loading means the quantity of a specific substance present per unit of surface area, such as the amount of lead in micrograms contained in the dust collected from a certain surface area divided by the surface area in square feet or square meters.

  • rebroadcasting means the simultaneous broadcasting by one broadcasting organisation of the broadcast of another broadcasting organisation.

  • Postproduction means an activity related to the finishing or duplication of a medium described in Subsection 59-12-104(54)(a).

  • Network Area means the 50 mile radius around the local school campus the Named Insured is attending.

  • Pruning means the appropriate removal in accordance with good arboricultural practices of not more than one-third of the live branches or limbs of a tree or more than one-third of the live branches or limbs on a tree as part of a consistent annual pruning program;

  • Airports means Chicago O’Hare International Airport and Chicago Midway International Airport.

  • Dispensing means any activity involving the retail sale of cannabis or cannabis products from a retailer.

  • Filtration means a process for removing particulate matter from water by passage through porous media.

  • Transportation means any land, sea or air conveyance required to Transport the Insured during an Emergency Evacuation. Transportation includes, but is not limited to, air ambulances, land ambulances and private motor vehicles.

  • Fabricating means to make, build, create, produce, or assemble components or property to work in a new or different manner.

  • Optical means services related to the provision of glasses, contact lenses, tests and treatments carried out by a registered optometrist or ophthalmologist.

  • Plant means the machinery and apparatus intended to form or forming part of the Works.

  • Transportation network company means a company or organization facilitating and/or providing transportation services using a computer or digital application or platform to connect or match passengers with drivers for compensation or a fee.

  • Waterbody means any accumulation of water, surface or underground, natural or artificial, including rivers, streams, creeks, ditches, swales, lakes, ponds, marshes, wetlands, and ground water. The term does not include any storage or treatment structures.