Common use of Ability to Repay Determination Clause in Contracts

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or or, to the knowledge of the Seller, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any such Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened in writing against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any such Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or, to the knowledge of Seller or Guarantor, threatened in writing against Seller Seller, Guarantor or their respective Subsidiaries in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with with, the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with, (x) except with respect to a Bond Loan – 0xx Xxxx, the Ability to Repay Rule or, (y) except with respect to a Bond Loan – 1st Lien or a Permitted Non-Qualified Mortgage Loan, the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or or, except with respect to a Permitted Non-QM Mortgage Loan, the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with with, (x) the Ability to Repay Rule or or, (y) the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with, (x) except with respect to a Bond Loan - 1st Lien, the Ability to Repay Rule or, (y) except with respect to a Bond Loan - 1st Lien or a Permitted Non-Qualified Mortgage Loan, the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any such Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There Except with respect to any Non-Agency Mortgage Loan or Business Purpose Mortgage Loan, there is no action, suit suit, or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or state, local, foreign foreign, or domestic) that questions or challenges the compliance of any such Mortgage Loan (or the related underwriting) with with, the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or or, to the knowledge of Seller, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or or, to the Seller’s knowledge, threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened in writing against Seller or its Affiliates in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with with, the Ability to Repay Rule or the QM Rule.

Ability to Repay Determination. There is no action, suit or proceeding instituted by or against or threatened in writing against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with with, the Ability to Repay Rule or or, except with respect to a Non-Qualified Mortgage Loan, the QM Rule.