Examples of Bona fide discount points in a sentence
Bona fide discount points are interest and are not subject to the two percent limitation.
Bona fide discount points defined For purposes of clause (ii), the term "bona fide discount points" means loan discount points which are knowingly paid by the consumer for the purpose of reducing, and which in fact result in a bona fide reduction of, the interest rate or time-price differential applicable to the mortgage.
Prior to delivery, the treatment shed manufacturer will confirm the site compaction with the Owner, and site contractor.
Note that up- front fees a creditor charges consumers to recover the costs of loan-level price adjustments imposed by secondary market purchasers of loans, including the GSEs, are not considered bona fide third-party charges and must be included in points and fees. Bona fide discount points.
Bona fide discount points" means an amount knowingly paid by the borrower for the express purpose of reducing, and which in fact does result in a bona fide reduction of, the interest rate applicable to the Home Loan; provided the undiscounted interest rate for the Home Loan does not exceed the conventional mortgage rate by two (2) percentage points for a Home Loan secured by a first lien, or by three and onehalf (3.5) percentage points for a Home Loan secured by a lien other than a first mortgage.