Comment for 1003.2 - Definitions
A branch office of a for-profit mortgage lending institution, other than a bank savings association or
- 1003 (Regulation C)
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A branch office of a for-profit mortgage lending institution, other than a bank savings association or
If a borrower pays off a federally related mortgage loan during the escrow account computation year,
Hazard insurance means insurance on the property securing a mortgage loan that protects the property
mitigation options, if any, it will offer to the borrower on behalf of the owner or assignee of the mortgage
delivery of a deed within 120 days of the date of the contract which conveys title free and clear of any mortgage
(iv) In the case of mortgage or vehicle loan brokering services, your customer has obtained a loan through
(ii) The term “step-rate mortgage” means a transaction secured by real property or a dwelling for which
demand feature that permits the creditor to accelerate the indebtedness by terminating the high-cost mortgage
(1) “Higher-priced mortgage loan” means a closed-end consumer credit transaction secured by the consumer's
non-judicial procedure as a result of the person's exercise of rights as the holder of a defaulted mortgage
(8) Mortgage-related obligations mean property taxes; premiums and similar charges identified in §
Some creditors offer annuities in connection with a reverse-mortgage transaction.
security interest, the creditor may designate its interest by using, for example, pledge, lien, or mortgage
Assume consummation is scheduled for Thursday, June 11 and the disclosure for a regular mortgage transaction
“Shared-equity” or “shared-appreciation” mortgage loans that have a fixed rate of interest and a shared-appreciation
undertaken prior to or at account opening and secured by the same dwelling that secures the high-cost mortgage
“Covered persons” include creditors, mortgage brokers, appraisers, appraisal management companies, real
The income of each consumer who will be obligated for the mortgage debt and whose income is being relied
(6) The purchase of closed-end mortgage loans or open-end lines of credit as part of a merger or acquisition
A closed-end mortgage loan or an open-end line of credit to a corporation, if the funds from the loan
the borrower not less than 15 days before the effective date of the transfer of the servicing of the mortgage
, upon confirmation, a servicer provides a confirmed successor in interest who is not liable on the mortgage
, upon confirmation, a servicer provides a confirmed successor in interest who is not liable on the mortgage
H-24(B) Mortgage Loan Transaction Loan Estimate - Fixed Rate Loan Sample Description: This is a sample
Creditors, assignees, and servicers that own either the applicable adjustable-rate mortgage or the applicable