Qualified Mortgage Loan definition

Qualified Mortgage Loan means a Mortgage Loan which is a “Qualified Mortgage” as defined in 12 CFR 1026.43(e).

Qualified Mortgage Loan means any Mortgage Loan that is secured by a first or second mortgage or a first or second deed of trust on Real Property Assets so long as the mortgagor or grantor with respect to such Mortgage Loan is not delinquent sixty (60) days or more in interest or principal payments due thereunder.

Qualified Mortgage Loan means a Mortgage Loan which has FHA Insurance, has a Rural Development Guaranty, or is a Conventional Mortgage Loan secured by a Mortgage on a Residence, meeting all requirements of the Program Guidelines and this Agreement and which shall be a level payment, 30-year mortgage.

Examples of Qualified Mortgage Loan in a sentence

• In the event a Qualified Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualified Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan.

• To be included in the Program, such Mortgage Loan must be resubmitted in accordance with the procedures of this Section and must constitute a Qualified Mortgage Loan.

• Prior to the Purchase of the Mortgage Loan by the Authority, said Mortgage Loan will have been reviewed by and certified by the Authority as a Qualified Mortgage Loan.

• Upon the Purchase of each Qualified Mortgage Loan, the Authority shall deliver to the Originator the appropriate Servicing Release Premium for the Mortgage Loans.

• The sale of a Qualified Mortgage Loan by an Originator shall include an assignment to the Purchaser thereof of all rights and obligations relating to servicing such Qualified Mortgage Loan.Section 3.2 Reservation Procedures.

More Definitions of Qualified Mortgage Loan

Qualified Mortgage Loan means any direct or indirect wholly-owned interest in any Mortgage Loan that is secured by a first mortgage or a first deed of trust on Real Property Assets so long as the mortgagor or grantor with respect to such Mortgage Loan is not delinquent sixty (60) days or more in interest or principal payments due thereunder.

Qualified Mortgage Loan means shall mean a Mortgage Loan that (i) is a “qualified mortgage” within the meaning of Section 1026.43(e)(2) of 12 C.F.R. Part 1026 (“Regulation Z”) without reference to Sections 1026.43(e)(4), (5), (6) or (f) of Regulation Z, (ii) complies with the total points and fees limitations for a qualified mortgage set forth in Section 1026.43(e)(3) of Regulation Z (including the inflation adjustments provided for in Section 1026.43(e)(3)(ii) of Regulation Z), (iii) does not provide for a balloon payment and (iv) qualifies either for (x) the safe harbor set forth in Section 1026.43(e)(1)(i) of Regulation Z or (y) the presumption of compliance set forth in Section 1026.43(e)(1)(ii) of Regulation Z.

Qualified Mortgage Loan means any loan under the Corporation programs made to an eligible borrower and evidenced by a mortgage note which is secured by a related mortgage on the eligible property.

Qualified Mortgage Loan means a Mortgage Loan which is a “Qualified Mortgage” as defined in 12 C.F.R. § 1026.43(e).

Qualified Mortgage Loan means a xxxx- xxxx loan with respect to an owner-oc- cupied residence acquired with the pro- ceeds of an obligation described in sec- tion 143(a)(1) or 143(b) (or applicable prior law).

Qualified Mortgage Loan means, as of any date of determination, any mortgage loan that is held or owned by the Company or any Subsidiary (i) listed on the Officer’s Certificate delivered to the holders of the Notes on the date of this Agreement pursuant to the requirements of Section 4A(1), and (ii) thereafter, listed on Exhibit A to Schedule I of the certificate of a Senior Financial Officer after such mortgage loan’s designation by the Company as a Qualified Mortgage Loan, so long as the Company shall fully comply with the requirements of Section 7.2(a) with regard to the reporting of such Qualified Mortgage Loan, which mortgage loan (in the case of either the immediately preceding clause (i) or clause (ii)) meets the following criteria:

Qualified Mortgage Loan means a Home$ense Mortgage Loan, a Portfolio Select Mortgage Loan, a Platinum Mortgage Loan, a Prime Jumbo Mortgage Loan or an Agency Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in 12 CFR 1026.43(e).