Examples of Residential mortgage transaction in a sentence

Z, 12 C.F.R. §226.2(24): Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in the consumer's principal dwelling to finance the acquisition or initial construction of that dwelling.
Residential mortgage transaction" means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract or equivalent consensual security interest is created or retained against the consumer's dwelling to finance the acquisition or initial construction of that dwelling.
However, if the creditor only applies $2,000 of the lump-sum payment to the cash price, then $2,000 of the $3,000 is a downpayment and the $1,000 discount is a prepaid finance charge.2(a)(24) Residential mortgage transaction.

More Definitions of Residential mortgage transaction

Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment contract or equivalent consensual security interest is created or retained against a single-family dwelling or a dwelling that consists of no more than 4 units that is the principal residence of the mortgagor to finance the acquisition, initial construction or refinancing of that dwelling. [PL 2023, c. 258, §1 (NEW).]

Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwelling units are planned or situated, including but not limited to individual units or condominiums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement designed for residential occupancy.

Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security inter- est arising under an installment sales con- tract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwell- ing units are planned or situated, including but not limited to individual units or condo- miniums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement designed for residential oc- cupancy. [Formerly 59.840; 2013 c.268 §1]

Residential mortgage transaction means a transaction in

Residential mortgage transaction means a transaction in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained in property upon which four or fewer residential dwelling units are planned or situated, including but not limited to individual units or condominiums and cooperatives. As used in this subsection, “residential dwelling unit” means an improvement designed for residential occupancy. [1993 c.508 §1; 1995 c.129 §1; 1995 c.622 §13; 1997 c.211 §1; 1997 c.631 §377; 1999 c.36 §1; 2001 c.377 §40; 2001 c.952 §1]

Residential mortgage transaction means, as set forth in 12 U.S.C. § 4901(15), a transaction consummated on or after the date that is 1 year after July 29, 1998, in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent

Residential mortgage transaction means "a transaction in which a