Adjustable rate mortgage or "ARM" means a closed-end

Adjustable rate mortgage or "ARM" means a closed-end mortgage transaction that allows adjustments of the loan interest rate during the first 3 years of the loan term.

Adjustable rate mortgage or "ARM" means a payment option ARM or a hybrid ARM (commonly known as a 2/28 or 3/27 loan).

Examples of Adjustable rate mortgage in a sentence

On each Adjustment Date, the Servicer shall make Mortgage Interest Rate adjustments for each Adjustable-Rate Mortgage Rate Loan in compliance with the requirements of the related Mortgage and Mortgage Note and Applicable Regulations.
On each Adjustment Date, the Servicer shall make Mortgage Interest Rate adjustments for each Adjustable-Rate Mortgage Loan in compliance with the requirements of the related Mortgage and Mortgage Note and Applicable Regulations.
On each Adjustment Date, the Master Servicer shall make Mortgage Interest Rate adjustments for each Adjustable-Rate Mortgage Loan in compliance with the requirements of the related Mortgage and Mortgage Note and Applicable Regulations.
With respect to each Non-Agency Mortgage Loan that is an Adjustable-Rate Mortgage Loan, the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note.
With respect to each Adjustable-Rate Mortgage Loan, the Servicer shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note.

More Definitions of Adjustable rate mortgage

Adjustable rate mortgage or "ARM" means a payment option

Adjustable rate mortgage means a Loan that has “a variable rate feature” as used in 12 C.F.R. § 226.18(f).

Adjustable rate mortgage means a mortgage in which the teaser rate, payment rate or the interest rate changes periodically and in some cases, may adjust according to corresponding fluctuations in an index.

Adjustable rate mortgage means, with respect to a

Adjustable rate mortgage means a Loan where the annual percentage rate may increase after the Loan Closing.

Adjustable rate mortgage. Loan shall contain a provision whereby the borrower can convert its Mortgage Loan to a fixed rate instrument;

Adjustable rate mortgage means a mortgage loan that does not have a fixed interest rate or on some other basis. During the life of the loan the interest rate will change based on a specified index rate or on some other basis. Also known as adjustable mortgage loans or variable rate mortgages.