Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the consumer’s principal dwelling to finance the acquisition or initial construction of that dwelling.
Residential mortgage transaction means a transaction in which a mort- gage, deed of trust, purchase money se- curity interest arising under an install- ment sales contract, or equivalent con- sensual security interest is created or retained in the consumer’s principal dwelling to finance the acquisition or initial construction of that dwelling.
Examples of Residential mortgage transaction in a sentence
Turbidity was measured with a 2100Q portable turbidimeter, also by Hach.
Residential mortgage transaction (§ 226.2(a)(24))2 Reverse mortgage transaction (§ 226.33)3 Open-end credit plan (Subpart B)(Note prohibition against structuring loans as open-end plans to evade sections 226.32−226.34(b))If the answer is No, STOP HERE Is the loan for the following purpose?If the answer is Yes in Box 1, 2, or 3, STOP HERE.
It would be more reasonable for afinancial institution to make advances from a line of credit for the purchase of anautomobile than for an automobile dealer to sell a car under an open-end plan.* * * * * 2(a)(24) Residential mortgage transaction.* * * * *5.
Residential mortgage transaction The term “residential mortgage transaction” means a transaction consummated on or after the date that is 1 year after July 29, 1998, in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained against a single-family dwelling that is the principal residence of the mortgagor to finance the acquisition, initial construction, or refinancing of that dwelling.
This issue has been brought into somewhat sharper focus since several of the DFID RLP projects nearing their end point have recently requested DFID to allow no-cost extensions (eg PETRRA and SUFER).
More Definitions of Residential mortgage transaction
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwelling units are planned or situated, including but not limited to individual units or condominiums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement de- signed for residential occupancy.
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security inter- est arising under an installment sales con- tract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwell- ing units are planned or situated, including but not limited to individual units or condo- miniums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement designed for residential oc- cupancy. [Formerly 59.840; 2013 c.268 §1]
Residential mortgage transaction means a transaction consummated in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained against a single-family dwelling that is the principal residence of the mortgagor to finance the acquisition, initial construction or refinancing of that dwelling.
Residential mortgage transaction means a transaction in
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwelling units are planned or situated, including but not limited to individual units or condominiums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement designed for residential occupancy. [1993 c.508 §1; 1995 c.129 §1; 1995 c.622 §13; 1997 c.211 §1; 1997 c.631 §377; 1999 c.36 §1; 2001 c.377 §40; 2001 c.952 §1]
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract or equivalent consensual security interest is created or retained against the consumer's dwelling to finance the acquisition or initial construction of that dwelling. Y. "Reverse mortgage transaction" means a nonrecourse transaction in which a mortgage, deed of trust or equivalent consensual security interest is created against the consumer's principal dwelling to secure one or more advances and with respect to which the payment of any principal, interest and shared appreciation or equity is due and payable, other than in the case of default, only after the transfer of the dwelling, after the consumer ceases to occupy the dwelling as a principal dwelling or after the death of the consumer. Z. "Servicer" has the same meaning as set forth in 24 Code of Federal Regulations, Section 3500.2. AA. "Servicing" has the same meaning as set forth in 24 Code of Federal Regulations, Section 3500.2 and includes any other activities or responsibilities undertaken in connection with a residential mortgage loan by a person who acts as a servicer with respect to that residential mortgage loan, including collection and default management functions. BB. "Subprime mortgage loan" means either a nontraditional mortgage as defined in paragraph S or a rate spread home loan as defined in paragraph U. CC. "Superintendent of Consumer Credit Protection" has the same meaning as set out in section 6-103. DD. "Surcharge" means any means of increasing the regular price to a cardholder that is not imposed upon customers paying by cash, check or similar means. EE. "Tax refund loan," also known as "refund anticipation loan," means a transaction in which a creditor lends an amount less than or equal to a consumer's expected tax refund. FF. "Threshold" means either:
Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in [residential property, including individual units of condominiums and cooperatives, principally designed for the occupancy of one to four residents] property upon which four or fewer residential dwelling units are planned or situated, including but not limited to individual units or condominiums and cooperatives. As used in this subsection, "residential dwelling unit" means an improvement designed for residential occupancy.