Non-Conforming/Non-QM Mortgage Loan definition
Non-Conforming/Non-QM Mortgage Loan means a first-priority Single-family Loan that (i) is originated in compliance with, and fully conforms to all underwriting criteria, on a non-delegated basis, under a residential mortgage loan program approved by the Administrative Agent in its sole discretion, and (ii) is eligible for purchase by at least one Non-Conforming/Non-QM Approved Investors.