Common use of Repayment Ability Clause in Contracts

Repayment Ability. We will consistently consider the financial ability and creditworthiness or the borrower to repay the loan in order to avoid default and foreclosure. We will determine creditworthiness and ability to repay through the use of objective, empirically derived, statistically significant credit bureau scoring and proprietary factors, among other factors and will not rely solely on the equity in the home as a means of determining borrower’s ability to repay. We will only submit to LSM loans that are appropriate to this true ability.