Discount points definition

Discount points means fees or charges paid by the Borrower to an Ameriquest Party at the time of origination of a Loan for the purpose of reducing the interest rate applicable to the Loan.
Sample 1Sample 2Sample 3
Discount points means any charges, whether or not actually denominated as "discount points," that are paid by the seller or the buyer of residential real property to a residential mortgage lender or that are deducted and retained by a residential mortgage lender from the proceeds of the residential mortgage. "Discount points" does not include the costs associated with settlement services as defined in the "Real Estate Settlement Procedures Act of 1974," 88 Stat. 1724, 12 U.S.C. 2601, amendments thereto, reenactments thereof, enactments parallel thereto, or in substitution therefor, or regulations issued thereunder.
Sample 1Sample 2Sample 3
Discount points means any charges, whether or not actually denominated as "discount points," which are paid by the seller of residential real property to a residential mortgage lender which directly or indirectly affects the ability of the buyer of the real estate to secure a residential mortgage.
Sample 1Sample 2Sample 3

Examples of Discount points in a sentence

  • It must include the loan level pricing adjustments (“LLPAs”) and other specific adjustments applicable to that consumer.Principle #2: Discount points excluded from points and fees may not exceed the discount points actually paid by the consumerThe discount points that are excluded from points and fees may not exceed the actual discount point amount paid by the consumer.

  • Neither are rates available to the consumer.Principle #4: Discount points that may be excluded from points and fees are those applied to the starting adjusted rate for the consumer to reduce the interest rate—if the starting adjusted rate for the consumer includes a required point (or portion thereof) whencalculating the discount points to be excluded, such required points are included in the QM’s points and fees.Example: Starting adjusted rate of 4.125% with .125 discount points.

  • Discount points, loan origination, loan placement and other fees charged by the lender as a percentage of the mortgage loan (exclud- ing any mortgage insurance premiums or VA funding fee) not to exceed % (0% if not specified) of the mortgage loan.

  • Discount points are up front charges to reduce the interest rate on the loan over the life or a portion of the loan’s term.

  • Discount points are bona fide [legitimate] if the discount points truly correspond to a reduced interest rate and are not necessary to originate, evaluate, maintain, record, insure, or service the equity loan.

  • Discount points must be reasonable and customary for the area and cannot be more than those charged other applicants for comparable transactions.

  • Discount points may be financed as described in Paragraph 6.3 of this Chapter.

  • Discount points (also called discount fees) are points that you voluntarily choose to pay in return for a lower interest rate.

  • Explanation: Discount points are a percentage of the loan amount, not the sales price.

  • Discount points are interest rate yield adjustments paid at closing to buy the rate down from the par quote to the consumer.


More Definitions of Discount points

Discount points means any charges, whether or not actually
Sample 1Sample 2Sample 3
Discount points or "points" means a fee paid by a borrower, up- front or at closing, to a lender to reduce the interest rate of a res- idential mortgage loan. Pursuant to Regulation X, discount points are to be reflected on the good faith estimate or loan estimate and appli- cable settlement statement as points and as a dollar amount.
Sample 1Sample 2
Discount points or "points" means a fee paid by a borrow- er, upfront or at closing, to a lender to reduce the interest rate of a residential mortgage loan. Pursuant to Regulation X, discount points are to be reflected on the good faith estimate or loan estimate and applicable settlement statement as points and as a dollar amount.
Sample 1Sample 2
Discount points means a fee or charge retained or received by a mortgage lender or mortgage loan broker that is stated or calculated as a percentage or fraction of the principal amount of the residential mortgage loan. “Discount points" does not include interest, origination fees, or any fees paid to third persons.
Sample 1
Discount points or "points" means a fee paid by a borrow- er, upfront or at closing, to a lender to reduce the interest rate of
Sample 1

Related to Discount points

  • Discount Price means the product of (i) the price per share of Capital Stock sold in an Equity Financing and (ii) 100% less the Discount.

  • Discount Factor means the percentage discount applied to additional APCs when more than one APC is provided during the same visit (including the same APC provided more than once). Not all APCs are subject to a discount factor.

  • Discount Period means, with respect to any Settlement Date or the Liquidity Termination Date, the period from and including the preceding Settlement Date (or if none, the date that the first Incremental Purchase is made hereunder) to but not including such Settlement Date or Liquidity Termination Date, as applicable.

  • Discount Percentage shall have the meaning specified in Section 2.11.

  • Fitch Discount Factor means the discount factors set forth in the Fitch Guidelines for use in calculating the Agency Discounted Value of the Company’s assets in connection with Fitch’s ratings then assigned on the Preferred Shares.

  • Points refers to Citi ThankYou Points or ThankYou Points earned on your Citi Corporate Card;

  • S&P Discount Factor means for purposes of determining the Discounted Value of any S&P Eligible Asset, the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the S&P Exposure Period, in accordance with the table set forth below:

  • Moody’s Discount Factor means the discount factors set forth in the Moody's Guidelines for use in calculating the Discounted Value of the Fund's assets in connection with Moody's long-term preferred share ratings of the VRDP Shares at the request of the Fund.

  • Delivery Points means: (i) for natural gas transported by interstate pipelines, the city gate stations of your Utility, and (ii) for electricity, one or more points at which Company, as your agent, has arranged for the delivery of electricity to a third party (such as your Utility) for your account or at your premises.

  • Receipt Point(s) means the receipt points set forth in Section 6 of this Toll Schedule.

  • Discount Loan The Loans having Pass-Through Rates of less than 6.75%.

  • Discount Rate means the rate used by the Plan Administrator for determining the Accrual Balance. The initial Discount Rate is six percent (6%). However, the Plan Administrator, in its discretion, may adjust the Discount Rate to maintain the rate within reasonable standards according to GAAP and/or applicable bank regulatory guidance.

  • Carbon dioxide equivalent or “CO2 equivalent” or “CO2e” means the number of metric tons of CO2 emissions with the same global warming potential as one metric ton of another greenhouse gas. Global warming potential values shall be determined consistent with the definition of Carbon Dioxide Equivalent in MRR section 95102(a).

  • Discount Amount means initially $6,549,982; provided that following any issuance of additional Class C(2020-5) Notes in accordance with Section 2.09, the Discount Amount shall mean the amount specified in the Notice of Additional Issuance.

  • Discount Fraction With respect to each Discount Mortgage Loan, the fraction expressed as a percentage, the numerator of which is the Discount Net Mortgage Rate minus the Net Mortgage Rate (or the initial Net Mortgage Rate with respect to any Discount Mortgage Loans as to which the Mortgage Rate is modified pursuant to 3.07(a)) for such Mortgage Loan and the denominator of which is the Discount Net Mortgage Rate. The Discount Fraction with respect to each Discount Mortgage Loan is set forth as an exhibit attached to the Series Supplement.

  • Measurement Point means the emission source for which continuous emission measurement systems (CEMS) are used for emission measurement, or the cross-section of a pipeline system for which the CO2 flow is determined using continuous measurement systems;

  • BA Discount Rate means:

  • Grade point average or "GPA" means the grade point average earned by an eligible student and reported by the high school or participating institution in which the student was enrolled based on a scale of 4.0 or its equivalent if the high school or participating institution that the student attends does not use the 4.0 grade scale;

  • Specified Discount Proration has the meaning set forth in Section 2.05(a)(v)(B)(3).

  • Discount has the meaning set forth in Section 6.06.

  • Ethanol blended gasoline means the same as defined in section 214A.1.

  • Rating Agency Discount Factor means the Fitch Discount Factor (if Fitch is then rating Preferred Shares) or an Other Rating Agency Discount Factor, whichever is applicable.

  • Committed Volume means, with respect to a Committed Shipper, the minimum daily volume of Crude Petroleum set out in Schedule A to the Committed Shipper’s TSA.

  • Specified Discount Prepayment Response Date has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • Meet-Point Billing (MPB means the billing associated with interconnection of facilities between two (2) or more LECs for the routing of traffic to and from an IXC with which one of the LECs does not have a direct connection. In a multi-bill environment, each Party bills the appropriate tariffed rate for its portion of a jointly provided Switched Exchange Access Service.