Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (1) is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), (2) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment issued for the purchase of such Mortgage Loan, (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by Xxxxxx Xxx or Xxxxxxx Mac from time to time, and (4) is a First Lien Mortgage Loan.
Jumbo Loan means an Eligible Mortgage Loan with respect to which each of the following statements shall be accurate and complete (and Borrower by including such Mortgage Loan in any computation of the Borrowing Base shall be deemed to so represent and warrant to the Agent and the Lenders as of the date of such computation):
Jumbo Loan means a Loan that has an original principal balance which exceeds Agency Guidelines for maximum general conventional loan amount.
Examples of Jumbo Loan in a sentence
With respect to each Jumbo Loan, (a) the related Back-End DTI Ratio does not exceed 41%, and (b) the related Front-End DTI Ratio does not exceed 31%.
Each Loan (other than a Jumbo Loan) is subject to one Takeout Commitment.
The Loan-to-Value ratio for each Jumbo Loan and each Second Lien Loan is within the limits set forth in the Underwriting Guidelines, in effect at the time of origination of such Jumbo Loan or Second Lien Loan.
See, e.g., Christine Ricciardi, Jumbo Loan Limits Remain the Same in 2011, HOUSINGWIRE (Nov.
Each Jumbo Loan is subject to) a legally valid and binding Takeout Commitment and satisfies all of the requirements related to such Takeout Commitment.
More Definitions of Jumbo Loan
Jumbo Loan means a Single-family Mortgage Loan (other than a FHA Loan or VA Loan) that complies with all applicable requirements for purchase under the FNMA or FHLMC standard form of conventional mortgage purchase contract then in effect except that the amount of such Mortgage Loan exceeds the maximum amount under those requirements, but in no event shall the amount of such Single-family Mortgage Loan exceed $1,000,000.00.
Jumbo Loan means a Mortgage Loan that conforms to (i) all of the Agency Guidelines’ requirements for a Conventional Conforming Loan except that its original principal amount exceeds the maximum allowed by Agency Guidelines and (ii) the maximum CLTV and minimum FICO Score criteria specified on Schedule III.
Jumbo Loan means a Mortgage Loan (other than an FHA Loan, a ---------- VA Loan, or a State Loan) that is underwritten in accordance with standards approved by the Agent that are generally comparable to the standards established by FNMA or FHLMC in all respects other than the original principal amount of the Mortgage Loan and that were established by an Investor (other than FHLMC, FNMA or GNMA).
Jumbo Loan means a Single-family Mortgage Loan whose original principal amount (or, in the case of a Construction/Permanent Loan, its current funded and outstanding principal balance) is more than the maximum allowed for Single-family Mortgage Loans eligible for purchase by Xxxxxx Xxx and Xxxxxxx Mac but not more than Two Million Dollars ($2,000,000) (or such greater amount as shall be approved by the Agent on a case-by-case basis.)
Jumbo Loan means a Loan with an original unpaid principal balance greater than $350,000.
Jumbo Loan means a Mortgage Loan (other than a Conforming Loan) that (i) is underwritten in a manner designed to be purchased by an Approved Takeout Investor (other than FNMA, FHLMC or GNMA), (ii) matches all applicable requirements for purchase under the requirements of a Takeout Commitment issued for the purchase of such Mortgage Loan, and (3) differs from a Conforming Loan solely because the principal amount of such Mortgage Loan exceeds the limit set for Conforming Loans by FNMA, FHLMC or GNMA from time to time, but shall not exceed $999,999; provided, however, that a Jumbo Loan having an original principal balance in excess of $999,999 but not more than $3,000,000 shall qualify as a Super Jumbo Loan. The term Jumbo Loan includes Super Jumbo Loans.
Jumbo Loan means a first lien Loan which conforms with all requirements (other than conforming balance limitations) of Xxxxxx Mae and Xxxxxxx Mac, each as in effect as of the related Purchase Date.