Qualified mortgage lender definition
Qualified mortgage lender means a mortgage lender authorized by a local agency to do business with the local agency and to aid in financing pursuant to this chapter on behalf of the local agency, for which service the qualified mortgage lender shall be reasonably compensated. Such a mortgage lender shall be a state or national bank, a federally or state-chartered savings and loan association, or a trust company or mortgage broker which is capable of providing such service or otherwise aiding in financing pursuant to this chapter.
Qualified mortgage lender means any mortgage lender authorized by the City to aid the City pursuant to this article. A qualified mortgage lender may be a state or national bank, a federal– or state–chartered savings and loan association, a trust company, a mortgage banker, an insurance company or other lender authorized to finance multi–family housing in the State of California, which is capable of providing service to or otherwise aiding the City pursuant to this article.