Residential mortgage definition

Residential mortgage or "mortgage" means an obligation to pay a sum of money evidenced by a note and secured by a lien upon real property located within this state containing two or fewer residential units or on which two or fewer residential units are to be constructed and includes such an obligation on a residential condominium or cooperative unit.
Residential mortgage means a mortgage, security interest or the like, in which the security is a residential property such as a house, real property or condominium, which is occupied, or is to be occupied, by the debtor, who is a natural person, or a member of the debtor's immediate family, as that person's residence. This act shall apply to all residential mortgages wherever made, which have as their security such a residence in the State of New Jersey, provided that the real property which is the subject of the mortgage shall not have more than four dwelling units, one of which shall be, or is planned to be, occupied by the debtor or a member of the debtor's immediate family as the debtor's or member's residence at the time the loan is originated.
Residential mortgage means a mortgage, security interest or

Examples of Residential mortgage in a sentence

  • Residential mortgage loans are Class D when payments are between 121 and 365 days late.

  • Residential mortgage loans are classified as Class C when payments are between 61 and 120 days late.

  • Residential mortgage pass-through securities issued or guaranteed by FNMA, FHLMC, GNMA .......b.

  • The Society is a Prime Residential mortgage lender which seeks to build and maintain credit portfolios that support the Society’s purpose and maintains the capital strength to support our differentiated product mix through an economic cycle.Credit risks are inherent across the Society’s lending activities and may arise from changes in credit quality, such as a borrower’s risk profile, and the recoverability of loans and amounts due from counterparties.

  • Report the total fair value of all residential mortgage pass-through securities issued or guaranteed by FNMA, FHLMC, or GNMA (as defined for Schedule RC-B,item 4.a.(1), Residential mortgage pass-through securities "Guaranteed by GNMA," and item 4.a.(2), Residential pass-through securities "Issued by FNMA and FHLMC") held for trading.


More Definitions of Residential mortgage

Residential mortgage means an obligation to pay a sum of
Residential mortgage means any credit transaction secured by an interest in the covered borrower's dwelling, including a transaction to finance the purchase or initial construction of a dwelling, any refinance transaction, home equity loan or home equity line of credit, or reverse mortgage.
Residential mortgage means an obligation to pay a sum of money in an original bona fide principal amount of the base figure or less, evidenced by a security document and secured by a lien upon real property located within this Commonwealth containing two or fewer residential units or on which two or fewer residential units are to be constructed and shall include such an obligation on a residential condominium unit.
Residential mortgage means an obligation to pay a sum of money evidenced by a note and secured by a lien upon a residential property.
Residential mortgage means a mortgage, deed of trust, deed to secured debt, security deed or other similar evidence of a lien legally effective in the U.S. jurisdiction where the residential owned Real Property that is its subject is located to create and constitute a lien on improved Real Property.
Residential mortgage. (住宅按揭) means a mortgage under which-
Residential mortgage or "mortgage" means an obligation 89