Safe Harbor Qualified Mortgage definition

Safe Harbor Qualified Mortgage. A Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage points for a subordinate-lien Mortgage Loan.
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Safe Harbor Qualified Mortgage. A Qualified Mortgage, excluding FHA and VA loans, with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage points for a subordinate-lien Mortgage Loan. With respect to FHA Loans, a Safe Harbor Qualified Mortgage shall mean a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by more than 1.15 percentage points plus the FHA annual premium amount for a first-lien Mortgage Loan. With respect to VA loans, a Safe Harbor Qualified Mortgage shall mean all VA loans except for streamline interest rate reduction refinance loans (IRRRL) that do not satisfy the requirements under 38 C.F.R. 36.4300(c)(1).
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Safe Harbor Qualified Mortgage and “Total Marginable Assets” in their proper alphabetical order:
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Examples of Safe Harbor Qualified Mortgage in a sentence

  • A schedule identifying each Mortgage Loan subject to the proposed Transaction as either a Safe Harbor Qualified Mortgage or a Rebuttable Presumption Qualified Mortgage.

  • Each Mortgage Loan is either a Safe Harbor Qualified Mortgage, a Rebuttable Presumption Qualified Mortgage, a Permitted Non-Qualified Mortgage Loan, or a Bond Loan — 1st Lien.

  • With respect to VA loans, a Safe Harbor Qualified Mortgage shall mean all VA loans except for streamline interest rate reduction refinance loans that do not satisfy the requirements under 38 C.F.R. 36.4300(c)(1).

  • With respect to FHA loans, a Safe Harbor Qualified Mortgage shall mean a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by more than [***] percentage points plus the FHA annual premium amount for a first-lien Mortgage Loan.


More Definitions of Safe Harbor Qualified Mortgage

Safe Harbor Qualified Mortgage means a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by [***] or more percentage points for a first-lien Mortgage Loan or by [***] or more percentage points for a subordinate-lien Mortgage Loan. With respect to FHA Loans, a Safe Harbor Qualified Mortgage shall mean a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by more than [***] percentage points plus the FHA annual premium amount for a first-lien Mortgage Loan.
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Safe Harbor Qualified Mortgage. Except as otherwise provided herein, a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by [***] or more percentage points for a first-lien Mortgage Loan or by [***] or more percentage points for a subordinate-lien Mortgage Loan. In the case of a Mortgage Loan insured, guaranteed, or administered by the FHA, a Mortgage Loan that satisfies the points and fees requirements of the QM Rule and has an annual percentage rate that is equal to or less than the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by [***] percentage points plus the annual mortgage insurance premium. In the case of a Mortgage Loan insured, guaranteed, or administered by the VA, all Mortgage Loans insured or guaranteed by the VA except for interest rate reduction refinance loans that do not meet the requirements established by VA for streamlined refinance loans to be safe harbor qualified mortgage loans.
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Safe Harbor Qualified Mortgage means a Qualified Mortgage with an annual percentage rate that does not exceed the average prime offer rate for a comparable mortgage loan as of the date the interest rate is set by 1.5 or more percentage points for a first-lien Mortgage Loan or by 3.5 or more percentage points for a subordinate-lien Mortgage Loan, or as otherwise defined by regulations issued by any applicable agency pursuant to the authority granted under Section 129C(b)(3)(ii) of the Truth in Lending Act which defines a qualified mortgage.
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Related to Safe Harbor Qualified Mortgage

  • 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 employer means the federal government.

  • Qualified Allocation Plan or “QAP” means this Qualified Allocation Plan, which was adopted by Board Action on October 21, 2015 and made effective as of January 1, 2016, and which was approved by the Governor of the State of New Mexico pursuant to Section 42(m)(1)(B) of the Code and sets forth the Project Selection Criteria and the preferences for Projects which will receive Tax Credits.

  • Qualified Nurse means a person who holds a valid registration from the Nursing Council of India or the Nursing Council of any state in India.