Qualifying Mortgage Loan definition

Qualifying Mortgage Loan means a Mortgage Loan which is not a Non-Qualifying Mortgage Loan.

Qualifying Mortgage Loan means a residential mortgage loan that is made by a registered bank and is not exempt.

Qualifying Mortgage Loan means a mortgage loan that:

Examples of Qualifying Mortgage Loan in a sentence

• Having a locally established team ensures effective and efficient communication between the supplier and the procurer.

• If it is not possible for the Authority to foreclose such Mortgage Loan or Non- Qualifying Mortgage Loan, then the Originator shall be required to repurchase such Mortgage Loan or Non-Qualifying Mortgage Loan on the terms and conditions set forth in the preceding paragraph.

• If, however, the particular policy does not have a cap on maximum coverage, or if the portfolio PMI will otherwise provide adequate protection for every individual loan in the portfolio (thereby giving the same coverage of traditional borrower-paid PMI), then it could be available for the purpose of reducing LTV for the Qualifying Mortgage Loan definition.

• Yes, but only if the loan meets all of the criteria for inclusion as a Qualifying Mortgage Loan.

• For each Qualifying Mortgage Loan, the lender shall determine the net present value (“NPV”) of the modified loan and, if it will exceed the NPV of the foreclosed collateral upon disposition, then the Qualifying Loan shall be modified so as to reduce the borrower’s monthly DTI Ratio to 28% (or to the lowest DTI Ratio higher than 28%, but not to exceed 38%, resulting in a NPV exceeding the foreclosed collateral upon disposition) at the time of the modification.

• The agreement appointing the Discretionary Trustee shall require the Discretionary Trustee document the specific duties and requirements of the parties involved in the investment process.

• Under the definition of Qualifying Mortgage Loan, the applicable LTV is 85 percent during the construction phase, and 90 percent after the house is complete and occupied by the owner.

• If it is not possible for Servicer to foreclose such Mortgage Loan or Non-Qualifying Mortgage Loan, then the Originator shall be required to repurchase such Mortgage Loan or Non- Qualifying Mortgage Loan on the terms and conditions set forth in the preceding paragraph.

• The Bank shall have the right to determine the maximum number of Etihad Guest Miles and/or similar benefits to be awarded with respect to a Qualifying Mortgage Loan Transaction at any time.

• The Bank may, without prior notice to the Customer, modify the eligibility conditions in respect of a Qualifying Mortgage Loan Transaction.

More Definitions of Qualifying Mortgage Loan

Qualifying Mortgage Loan means a Mortgage Loan: (a) to be sold to an Issuer (if approved in advance by Bank) or for which Seller has received a Firm Commitment from an Investor (other than an Issuer), a copy of which Firm Commitment has been delivered to Bank in accordance with Section 2.1 and accepted by Bank and which is valid and enforceable in accordance with its terms; (b) which is evidenced by a Mortgage Note, in form and substance acceptable to Bank in its sole and absolute discretion, payable to the order of Seller, which Mortgage Note, at Bank’s discretion, either is accompanied by an allonge affixed thereto fully endorsed to Seller (if applicable) and endorsed in blank by Seller, or may be endorsed in blank by Bank pursuant to a power of attorney for and on behalf of Seller; (c) which is secured by a Security Instrument, in form and substance acceptable to Bank, in its sole and absolute discretion; (d) which is otherwise in form and substance acceptable to Bank, in its sole and absolute discretion; and (e) which conforms in all respects with all the requirements of the Firm Commitment to purchase the same (unless Seller has been approved in advance by Bank to sell to an Issuer the Qualified Mortgage Loan).

Qualifying Mortgage Loan means a mortgage loan which (i) meets all of the criteria set forth in Section 4.1(b)-(1) hereof, or (ii) is subject to an Acceptance Sheet issued by the Participant.

Qualifying Mortgage Loan means any Mortgage Loan that complies with the Underwriting Guidelines set forth herein.

Qualifying Mortgage Loan means any obligation (i) that is secured by Mortgaged Property that is comprised of a Healthcare Facility and (ii) as to which GMACCM has full legal power and authority to transfer good title free and clear of any lien or other encumbrance.

Qualifying Mortgage Loan means a Mortgage Loan, which meets the criteria of Section 4(a) hereof, is approved by Lender for inclusion in the Borrowing Base and with respect to which each and all of the following conditions and requirements have been met as evidenced by written certification delivered by Borrower to Lender: