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

• Consultant has built edits and system processes to evaluate whether a loan meets the requirements of the Qualified Mortgage regulations.

• AMC reviewed asset origination to determine conformity to the stated underwriting or credit extension guidelines, standards, criteria or other requirements, including, as applicable, the Ability to Repay and Qualified Mortgage requirements described below, that were provided to AMC and/or as directed by Client.

• There are 4 different Qualified Mortgage subtypes; Qualified Mortgage (QM), Temporary QM (TQM), Small Creditor QM (SCQM) and Small Creditor Balloon QM (BQM).

• There are 4 different Qualified Mortgage subtypes; Qualified Mortgage (QM) Temporary QM (TQM), Small Creditor QM (SCQM) and Small Creditor Balloon QM (BQM).

• Furthermore, the Seller shall not have the option of delivering Loss of Value Payments in connection with any Material Breach relating to a Mortgage Loan's failure to be a Qualified Mortgage.

More Definitions of Qualified Mortgage

Qualified Mortgage. A qualified mortgage within the meaning of Section 860G(a)(3) of the Code.

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) and applicable to the Trust and the Mortgage Loan Groups.

Qualified Mortgage means a Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in the QM Rule.

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. 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) and applicable to the related Advanta Trust.

Qualified Mortgage shall have the meaning assigned thereto in Section 2.03(a).