Residential mortgage definition

Residential mortgage or "mortgage" means an obligation to pay a sum of money evidenced by a note and secured by a lien upon real property located within this state containing two or fewer residential units or on which two or fewer residential units are to be constructed and includes such an obligation on a residential condominium or cooperative unit.
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Residential mortgage means a mortgage, security interest or
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Residential mortgage means a mortgage, security interest or the like, in which the security is a residential property such as a house, real property or condominium, which is occupied, or is to be occupied, by the debtor, who is a natural person, or a member of the debtor's immediate family, as that person's residence. This act shall apply to all residential mortgages wherever made, which have as their security such a residence in the State of New Jersey, provided that the real property which is the subject of the mortgage shall not have more than four dwelling units, one of which shall be, or is planned to be, occupied by the debtor or a member of the debtor's immediate family as the debtor's or member's residence at the time the loan is originated.
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Examples of Residential mortgage in a sentence

  • Residential mortgage- backed securities not issued or guaranteed by the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, any successors to such organizations, or any other United States federal government-sponsored enterprise or a United States federal governmental agency.

  • Residential mortgage loans were $61.6 million at June 30, 1998, compared to $71.9 million at June 30, 1999.

  • Residential mortgage loans and overdraft facilities to individuals are nearly all based on the Bank’s prime rate plus or minus a margin depending on the relevant credit circumstances of the borrower, whilst interest rates on personal loans offered by the Bank can be set at both fixed rate or floating rates depending on the type of product and repayment requirements.

  • Residential mortgage loan sales totaled $48.7 million for the year ended December 31, 2010 compared to $56.3 million for the year ended December 31, 2009.

  • Residential mortgage lending on domestic properties to domestic and foreign domiciled borrowers increased, while commercial, commercial real estate and other consumer loans declined.


More Definitions of Residential mortgage

Residential mortgage means an obligation to pay a sum of
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Residential mortgage means an obligation to pay a sum of money evidenced by a note and secured by a lien upon a residential property.
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Residential mortgage means any credit transaction secured by an interest in the covered borrower's dwelling, including a transaction to finance the purchase or initial construction of a dwelling, any refinance transaction, home equity loan or home equity line of credit, or reverse mortgage.
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Residential mortgage means an obligation to pay a sum of money in an original bona fide principal amount of the base figure or less, evidenced by a security document and secured by a lien upon real property located within this Commonwealth containing two or fewer residential units or on which two or fewer residential units are to be constructed and shall include such an obligation on a residential condominium unit. (Def. amended July 8, 2008, P.L.824, No.57)
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Residential mortgage means a mortgage, deed of trust, deed to secured debt, security deed or other similar evidence of a lien legally effective in the U.S. jurisdiction where the residential owned Real Property that is its subject is located to create and constitute a lien on improved Real Property.
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Residential mortgage. (住宅按揭) means a mortgage under which-
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Residential mortgage or "mortgage" means an obligation 89
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