Car Title Loan definition

Car Title Loan means taking possession of an automobile title in exchange for consideration or extension of a loan, excluding loans made by federal or state chartered banks and credit unions.
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Car Title Loan means taking possession of or an interest in an automobile title in exchange for consideration or extending a loan. This definition includes businesses facilitating car title loans or matching customers with Car Title Loan businesses located elsewhere. This definition does not include a federal-or state-chartered bank, industrial bank, savings and loan, or credit union.
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Car Title Loan means taking possession of an automobile title in exchange for
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Examples of Car Title Loan in a sentence

  • See, Consumer Federation of America, “Driven Into Debt: CFA Car Title Loan Store and Online Survey,” Appendix B, November 2005.

  • Fox & Elizabeth Guy, Driven into Debt: CFA Car Title Loan Store and Online Survey at 5 (Nov.

  • Cedar Ridge Dr. He’s opening an additional business at the location, KY II Real Car Title Loan, and states that the new sign will assist with marking, branding, and identifying the location.Chris Edwards of Beacon Signs is representing Mr. Young.

  • This definition includes businesses facilitating car title loans or matching customers with Car Title Loan businesses located elsewhere.

  • See Jean Ann Fox & Elizabeth Guy, Driven into Debt: CFA Car Title Loan Store and Online Survey 11 (2005), available at http://www.consumerfed.org/pdfs/Car_Title_Loan_Report_111705.pdf (finding a mean 294.25% APR in surveying eighty-one car title lenders in eleven states); Ill.

  • Four out of five payday loans are re-borrowed,14 and most short-term loans are borrowed by consumers who take out a least 10 loans in a row.15 A narrative depiction of how this destructive cycle plays out can be found in Caught In the Debt Trap: Stories of Payday and Car Title Loan Borrowers.16 Recurring, automatic payments on payday loans can mean having to skimp on non-automatic purchases such as food and medical care.


More Definitions of Car Title Loan

Car Title Loan means, other than a purchase money loan, a short maturity loan secured by an unencumbered or encumbered state issued certificate of title or certificate of ownership to a motor vehicle or other similar personal property.
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Related to Car Title Loan

  • Title V means Title V of the federal Act for the Senior Community Service Employment Program for Older Americans.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Purchased Loan means each motor vehicle retail installment loan relating to the sale of an automobile or light-duty truck originated by a Dealer, purchased by the Originator from such Dealer and evidenced by a Purchased Loan Contract; provided, however, that the term “Purchased Loan” shall, for purposes of this Agreement, include only those Purchased Loans identified from time to time on Schedule A hereto.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Defective Mortgage Loan Any Mortgage Loan which is required to be repurchased pursuant to Section 2.02 or 2.03.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Mortgage Pool Assets (i) The Mortgage Loans (including all Substitute Mortgage Loans) identified on the Mortgage Loan Schedule, and all rights pertaining thereto, including the related Mortgage Notes, Mortgages, Cooperative Stock Certificates, Cooperative Leases, Security Agreements, Assignments of Proprietary Lease, and Recognition Agreements, and all Monthly Payments due after the Cut-Off Date and all other payments and distributions collected with respect to the Mortgage Loans on or after the Cut-Off Date; (ii) the Certificate Account, the Investment Account, and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iii) the Custodial Accounts for P&I and any Buydown Fund Account (to the extent of the amounts on deposit or other property therein attributable to the Mortgage Loans), and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iv) all property that secured a Mortgage Loan and that has been acquired by foreclosure or deed in lieu of foreclosure or, in the case of a Cooperative Loan, a similar form of conversion, after the Cut-Off Date; and (v) each FHA insurance policy, Primary Insurance Policy, VA guaranty, and other insurance policy related to any Mortgage Loan, and all amounts paid or payable thereunder and all proceeds thereof.

  • Purchased Student Loan means a Trust Student Loan which is, as of the close of business on the last, day of a Collection Period, purchased by the Servicer pursuant to Section 3.05 of the Servicing Agreement or repurchased by the Depositor pursuant to Section 6.01 of the Sale Agreement or purchased by the Sellers pursuant to Section 6.01 of the Purchase Agreements.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Class Title means the designation given under these rules to a class and to each position allocated to such class.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • sectional title unit means a unit defined in section 1 of the Sectional Titles Act;

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans together with the Repurchase Assets related to such Mortgage Loans transferred by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Cooperative Loan Any Mortgage Loan secured by Cooperative Shares and a Proprietary Lease.

  • sectional title scheme means a scheme defined in section 1 of the Sectional Titles Act;

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.