Qualified Mortgage Loan definition

Qualified Mortgage Loan means a Mortgage Loan which is a “Qualified Mortgage” as defined in 12 CFR 1026.43(e).

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Qualified Mortgage Loan means any Mortgage Loan that is secured by a first or second mortgage or a first or second deed of trust on Real Property Assets so long as the mortgagor or grantor with respect to such Mortgage Loan is not delinquent sixty (60) days or more in interest or principal payments due thereunder.

Qualified Mortgage Loan means a Mortgage Loan which has FHA Insurance, has a Rural Development Guaranty, or is a Conventional Mortgage Loan secured by a Mortgage on a Residence, meeting all requirements of the Program Guidelines and this Agreement and which shall be a level payment, 30-year mortgage.

Examples of Qualified Mortgage Loan in a sentence

In the event a Qualified Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualified Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan.
Except that the Mortgage Loan may not be a Qualified Mortgage Loan and may be a “higher cost mortgage loan” as defined under 12 CFR 1026.35, no Seller Party has knowledge of any circumstances or condition with respect to the Mortgage, the Mortgaged Property, the Mortgagor or the Mortgagor’s credit standing that could reasonably be expected to cause the Mortgage Loan to become delinquent or materially adversely affect the value or marketability of the Mortgage Loan.
In the event a Qualified Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualified Mortgage Loan shall be distributed on such Pooling REMIC I Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan.
As described in the Fund's current ------------------------ prospectus, a copy of which has been delivered to the Originator, a Qualified Mortgage Loan is defined as a home mortgage loan originated with respect to a single- or multi-family home that will be newly constructed or substantially renovated by a contractor and subcontractors who have been approved by Capital Mortgage Management, Inc., the Fund's manager (the "Manager"), and that is located in a subdivision or other site approved by the Manager.
If the Servicer does not within 60 days after notification of the breach, take steps to cure such breach or purchase, or substitute for the Mortgage Loan, the Trustee shall be entitled to enforce the obligations of the Assignor hereunder to cure such breach or to purchase the Mortgage Loan from the Trust or substitute such Mortgage Loan with a Qualified Mortgage Loan (as defined in the Trust Agreement).

More Definitions of Qualified Mortgage Loan

Qualified Mortgage Loan means shall mean a Mortgage Loan that (i) is a “qualified mortgage” within the meaning of Section 1026.43(e)(2) of 12 C.F.R. Part 1026 (“Regulation Z”) without reference to Sections 1026.43(e)(4), (5), (6) or (f) of Regulation Z, (ii) complies with the total points and fees limitations for a qualified mortgage set forth in Section 1026.43(e)(3) of Regulation Z (including the inflation adjustments provided for in Section 1026.43(e)(3)(ii) of Regulation Z), (iii) does not provide for a balloon payment and (iv) qualifies either for (x) the safe harbor set forth in Section 1026.43(e)(1)(i) of Regulation Z or (y) the presumption of compliance set forth in Section 1026.43(e)(1)(ii) of Regulation Z.

Qualified Mortgage Loan means a Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in 12 CFR 1026.43(e)(4) as further limited by 12 CFR 1026.43(e)(1)(i).

Qualified Mortgage Loan means any loan under the Corporation programs made to an eligible borrower and evidenced by a mortgage note which is secured by a related mortgage on the eligible property.

Qualified Mortgage Loan means a ▇▇▇▇- ▇▇▇▇ loan with respect to an owner-oc- cupied residence acquired with the pro- ceeds of an obligation described in sec- tion 143(a)(1) or 143(b) (or applicable prior law).

Qualified Mortgage Loan means, as of any date of determination, any mortgage loan that is held or owned by the Company or any Subsidiary (i) listed on the Officer’s Certificate delivered to the holders of the Notes on the date of this Agreement pursuant to the requirements of Section 4A(1), and (ii) thereafter, listed on Exhibit A to Schedule I of the certificate of a Senior Financial Officer after such mortgage loan’s designation by the Company as a Qualified Mortgage Loan, so long as the Company shall fully comply with the requirements of Section 7.2(a) with regard to the reporting of such Qualified Mortgage Loan, which mortgage loan (in the case of either the immediately preceding clause (i) or clause (ii)) meets the following criteria:

Qualified Mortgage Loan means, with respect to the Certificate Program, a Mortgage Loan which is eligible for inclusion in a Pool related to a Mortgage Certificate, which is secured by a Mortgage on a Residence meeting all requirements of an MBS Compliance Agreement and the related Servicing Agreement.

Qualified Mortgage Loan means a Home$ense Mortgage Loan, a Portfolio Select Mortgage Loan, a Platinum Mortgage Loan, a Prime Jumbo Mortgage Loan or an Agency Mortgage Loan that satisfies the criteria for a “qualified mortgage” as set forth in 12 CFR 1026.43