Loan flipping definition

Loan flipping. . “Flipping” a loan means the refinancing of an existing loan secured by owner-occu- pied residential real estate in the City of Cleveland on which there is situated a dwelling for not more than four families, a condominium unit, or a cooperative unit when:
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Loan flipping means making a home loan to a borrower who refinances an existing
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Loan flipping means to assist a person in refinancing a loan secured by the person’s principal residence for the primary purpose of receiving fees related to the refinancing when (i) the refinancing of the loan results in no tangible benefit to the person and (ii) at the time the loan is made, the financial institution does not reasonably believe that the refinancing of the loan will result in a tangible benefit to the person.” Id. § 2(e).
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Examples of Loan flipping in a sentence

  • Loan flipping allows borrowers to extend their loans by rolling over the first loan into a new.


More Definitions of Loan flipping

Loan flipping. . “Flipping” a loan means the making of a threshold or high cost loan to a borrower that refinances an existing loan secured by residential property in the City of Philadelphia when:
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Related to Loan flipping

  • Cannabis processing facility means a person that:

  • Educational facility means a structure available for use as a dormitory or other housing facility, including housing facilities for students, a dining hall, student union, administration building, academic building, library, laboratory, research facility, classroom, athletic facility, health care facility, and maintenance, storage, or utility facility, and other structures or facilities related thereto or required or useful for the instruction of students or the conducting of research or the operation of an institution for higher education, including parking and other facilities or structures essential or convenient for the orderly conduct of the institution for higher education, and shall include lands and interests in lands and landscaping, site preparation, furniture, equipment, machinery, and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended, and any improvements necessary to a particular facility to make the facility more energy efficient. Educational facility does not include items as books, fuel, supplies, or other items the costs of which are customarily deemed to result in a current operating charge and does not include any facility used or to be used for sectarian instruction or as a place of religious worship, nor a facility which is used or to be used primarily in connection with a part of the program of a school or department of divinity for a religious denomination.

  • Load Shedding means the systematic reduction of system demand by temporarily decreasing load in response to transmission system or area capacity shortages, system instability, or voltage control considerations under Tariff, Part II or Part III.

  • State correctional facility means a facility or institution maintained and operated by the department.

  • Vending facility means automatic vending machines, cafeterias, snack bars, cart service, shelters, counters, and such other appropriate auxiliary equipment which may be operated by licensed managers and which is necessary for the sale of newspapers, periodicals, confections, tobacco products, foods, beverages, and other articles or services dispensed automatically or manually and prepared on or off the premises in accordance with all applicable health laws and including the vending or exchange of chances for any lottery authorized by State Law and conducted by an agency of a State within such State. [CFR 34, Part 395.1(X)]