Examples of Nontraditional mortgage in a sentence
Nontraditional mortgage loan products are now offered by more lenders to a wider spectrum of borrowers who may not otherwise qualify for more traditional mortgage loans and may not fully understand the associated risks.
Nontraditional mortgage loans can be reclassified as traditional loans once they become fully amortizing loans, provided they no longer have a teaser rate.
Nontraditional mortgage loans do not include loans reported as trading assets in Schedule RC, item 5; conventional fully amortizing adjustable rate mortgage loans that do not have a teaser rate; and interest- only residential construction loans, but include conventional fully amortizing adjustable rate mortgage loans that have a teaser rate.
Nontraditional mortgage product" means any mortgage product other than a 30-year fixed rate mortgage.[PL 2009, c.
Nontraditional mortgage loans Nontraditional mortgage loans include allresidential loan products that allow the bor- rower to defer repayment of principal or in- terest and include all interest-only products, teaser rate mortgages, and negative amor- tizing mortgages, with the exception of home equity lines of credit (HELOCs) or reverse mortgages.
Nontraditional mortgage products have been advertised and promoted based on their affordability in the near term; that is, their lower initial monthly payments compared with traditional types of mortgages.
Nontraditional mortgage loans would continue to be defined as in the February rule, but the NPR clarifies how securitizations of nontraditional mortgage loans would be identified under the definition.
Any updates to the Basel II capital treatment ofcounterparty credit risk would be implemented as they are adopted.1 The high-risk concentration measure is rounded to two decimal points.• Nontraditional mortgage loans; and• Subprime consumer loans.
Nontraditional mortgage products have been advertised and promoted based on their near-term monthly payment affordability, and consumers have been encouraged to select nontraditional mortgage products based on the lower monthly payments that such products permit compared with traditional types of mortgages.
Nontraditional mortgage products can present unique payment processing challenges.