Qualified Mortgage definition
Qualified Mortgage. A Mortgage Loan that is a “qualified mortgage” within the meaning of Code Section 860G(a)(3) (but without regard to the rule of Treasury Regulations Section 1.860G-2(f)(2) that causes a defective Mortgage Loan to be treated as a “qualified mortgage”, or any substantially similar successor provision).
Qualified Mortgage. The meaning set forth from time to time in the definition thereof at Section 860G(a)(3) of the Code (or any successor statute thereto) and applicable to the Trust.
Qualified Mortgage shall have the meaning set forth from time to time in the definition thereof at Section 860G(a)(3) of the Code (or any successor statute thereto).
Examples of Qualified Mortgage in a sentence
Notwithstanding the foregoing, any Defect or Breach which causes any Mortgage Loan not to be a Qualified Mortgage shall be deemed to materially and adversely affect the interests of Certificateholders therein, and (subject to the applicable Mortgage Loan Seller’s right to cure such Defect or Breach during the Initial Cure Period) such Mortgage Loan shall be repurchased or substituted for without regard to the Extended Cure Period described in the preceding sentence.
More Definitions of Qualified Mortgage
Qualified Mortgage. A qualified mortgage within the meaning of Section 860G(a)(3) of the Code.
Qualified Mortgage means a Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in the QM Rule.
Qualified Mortgage. Qualified mortgage" shall have the meaning set forth from time to time in the definition thereof at Section 860G(a)(3) of the Code (or any successor statute thereto).
Qualified Mortgage shall have the meaning set forth from time to time in the definition of "Qualified Mortgage" at Section 860G(a)(3) of the Code (or any successor statute thereto).
Qualified Mortgage under Section 860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1);
Qualified Mortgage within the meaning of Section 860G(a)(3) of the Code. The Company represents and warrants that, either as of the date of origination or the Closing Date, the fair market value of the property securing each Contract was not less than 80% of the "adjusted issue price" (within the meaning of the REMIC Provisions) of such Contract.
Qualified Mortgage shall have the meaning assigned thereto in Section 2.03(a).