Section 32 Loans definition

Section 32 Loans. Mortgage Loans which are subject to regulation under the Home Ownership and Equity Protection Act

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Section 32 Loans. The Mortgage Loan is not a "High Rate, High Cost" loan or Section 226.32 loan as described in Regulation Z of the Truth in Lending Act.

Examples of Section 32 Loans in a sentence

• Unless otherwise specified on the applicable Mortgage Loan Schedule, none of the Mortgage Loans are "High Rate, High Cost" loans or Section 226.32 loans ("Section 32 Loans") as described in Regulation Z of the Truth in Lending Act.

• Sales to and from Windmill; Allocations Section 3.1. Required Loans from Windmill Section 3.2. Loans by Windmill Section 3.3.

• Except as otherwise provided in Section 3.2, Loans which are Base Rate Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Base Rate plus the Applicable Margin.

• Except as otherwise provided in Section 3.2, Loans which are LIBO Rate Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the LIBO Rate determined for such Interest Period in accordance with the terms hereof plus the Applicable Margin.