QM Rule definition

QM Rule means 12 CFR 1026.43(e), including all applicable official staff commentary.
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QM Rule means 12 CFR 1026.43(d) or (e), or any successor rule or regulation, including all applicable official staff commentary.
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QM Rule. As applicable, (i) 12 C.F.R. Section 1026.43(e), (ii) in the case of a Mortgage Loan insured, guaranteed, or administered by the FHA, 24 C.F.R. § 203.19, or (iii) in the case of a Mortgage Loan insured, guaranteed, or administered by the VA, 38 C.F.R. § 36.4300, and for each section referenced herein, all applicable official staff commentary.
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Examples of QM Rule in a sentence

  • Seller shall deliver to Buyer, with reasonable promptness upon Buyer’s request, copies of all documentation in connection with the underwriting and origination of any Purchased Mortgage Loan that evidences compliance with the Ability to Repay Rule and the QM Rule.

  • There is no action, suit or proceeding instituted by or against or threatened against Seller in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with the Ability to Repay Rule or the QM Rule.

  • A creditor also complies with the verified safe harbor where it complies with revised versions of the manuals listed above provided that the two versions are “substantially similar”.·The Revised QM Rule permits the creditor to “mix and match” verification standards from different agency manuals.

  • Each Loan satisfied the following criteria: (i) such Loan is a Qualified Mortgage, and (ii) such Loan is supported by documentation that evidences compliance with the QM Rule or the Ability to Repay Rule, as applicable.

  • Deloitte, First Look: Implications of the ability-to-repay rule and the qualified mortgage definition (online at http://www.deloitte.com/assets/Dcom- UnitedStates/Local%20Assets/Documents/FSI/US_FSI_FirstLook_012413.pdf); Rachel Wikowski, “Will the Qualified Mortgage Rule Kill the Subprime Mortgage?,” American Banker (January 11, 2013); and Richard Booth, “How to Stymie Mortgage Lending: QM Rule Edition” (op-ed), American Banker (January 25, 2013).

  • You and the lender will have to determine how the credit should be labeled in light of the QM Rule so as not to create a problem for the lender in the event this alternative is used.

  • There is no action, suit or proceeding instituted by or against or threatened in writing against Seller or its Affiliates in any federal or state court or before any commission or other regulatory body (federal, state or local, foreign or domestic) that questions or challenges the compliance of any Mortgage Loan (or the related underwriting) with, the Ability to Repay Rule or the QM Rule.

  • A creditor also complies with the verified safe harbor where is complies with revised versions of the manuals listed above provided that the two versions are “substantially similar”.●The Revised QM Rule permits the creditor to “mix and match” verification standards from different agency manuals.

  • A creditor also complies with the verified safe harbor where is complies with revised versions of the manuals listed above provided that the two versions are “substantially similar”.·The Revised QM Rule permits the creditor to “mix and match” verification standards from different agency manuals.

  • A creditor also complies with the verified safe harbor where it complies with revised versions of the manuals listed above provided that the two versions are “substantially similar”.●The Revised QM Rule permits the creditor to “mix and match” verification standards from different agency manuals.


More Definitions of QM Rule

QM Rule means 12 CFR 1026.43(e).
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QM Rule means 12 C.F.R. Section 1026.43(e), including all applicable official staff commentary.
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QM Rule. “Qualified Mortgage”, “Rebuttable Presumption Qualified Mortgage”, “Safe Harbor Qualified Mortgage” and “Total Marginable Assets” in their proper alphabetical order:
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QM Rule. 12 CFR 1026.43(e).
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QM Rule. 12 C.F.R. Section 1026.43(e) and all applicable official staff commentary, as may hereafter from time to time be amended. ​
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Related to QM Rule

  • Xxxxxxx Rule means Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder.

  • General Anti-Abuse Rule means (a) the legislation in Part 5 of the Finance Act 2013; and (b) any future legislation introduced into parliament to counteract tax advantages arising from abusive arrangements to avoid national insurance contributions;

  • Regulation RR means Regulation RR (Credit Risk Retention) promulgated by the Securities and Exchange Commission to implement the credit risk retention requirements of Section 15G of the Securities Exchange Act.

  • Privacy Rule means the Standards for Privacy of Individually Identifiable Health Information at 45 C.F.R. part 160 and part 164, subparts A and E.

  • Rule means Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same may be amended from time to time.

  • Security Rule means the Security Standards for the Protection of Electronic Protected Health Information at 45 C.F.R. part 160 and part 164, subpart A and C.

  • Regulation A means Regulation A of the Federal Reserve Board as in effect from time to time.

  • Section 162(m) Exemption means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.

  • Rule 16b-3 means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

  • Market Abuse Regulation means the EU Market Abuse Regulation (596/2014).