Common use of High Cost Loans Clause in Contracts

High Cost Loans. No Mortgage Loan is (a) a “high cost” loan under the Homeownership and Equity Protection Act of 1994 (“High Cost Mortgage Act”), (Section 103 (aa) of the Truth in Lending Act, as amended and Section 226.32 of Regulation Z as amended), (b) a “high cost”, “covered”, “threshold”, or “predatory” loan under any federal, state or local law or regulation relating to such loans (as such terms are defined therein); and,

High Cost Loans. No Mortgage Loan is (a) a “high costHigh Cost Loan” loan or “Covered Loan”, as applicable, under either the Homeownership and Home Ownership Equity Protection Act of 1994 (“High Cost Mortgage Act”), (Section 103 (aa) of the Truth in Lending Act, as amended and Section 226.32 of Regulation Z as amended), (b) or a “high cost”, “covered”, “threshold”, or “predatory” loan under any federal, similar state or local law anti-predatory lending law, statute, regulation or regulation relating to such loans (ordinance, including, without limitation, as such terms are defined therein); and,in the then current Standard & Poor’s LEVELS® a Glossary of Terms which is now Version 5.7 Revised, Appendix E.

High Cost Loans. No Mortgage Loan is (a) a “high costHigh Cost Loan” loan or “Covered Loan”, as applicable, under either the Homeownership and Home Ownership Equity Protection Act of 1994 (“High Cost Mortgage Act”), (Section 103 (aa) of the Truth in Lending Act, as amended and Section 226.32 of Regulation Z as amended), (b) or a “high cost”, “covered”, “threshold”, or “predatory” loan under any federal, similar state or local law anti-predatory lending law, statute, regulation or regulation relating to such loans (ordinance, including, without limitation, as such terms are defined therein); and,in the then current Standard & Poor’s LEVELS and Glossary of Terms which is now Version 5.7 Revised, Appendix E.