7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.109 — Qualified mortgage

usda-7cfr-3555-109

7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.109 Qualified mortgage. Captured section-complete (all subsections verbatim).

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  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.109 — Qualified mortgage
  description: |
    7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.109 Qualified mortgage. Captured section-complete (all subsections verbatim).
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    section: 7 CFR §3555.109
    description: 'Qualified mortgage: A qualified mortgage is a guaranteed loan meeting the requirements of this part and applicable Agency guidance, as well as the requirements in 12 CFR 1026.43(e)(2)(i) through (iii) and 12 CFR 1026.43(e)(3). An extension of credit made pursuant to a program administered by a State Housing Finance Age…'
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      authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.109
      source_class: ecfr-xml
      source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
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      paragraph_quote: A qualified mortgage is a guaranteed loan meeting the requirements of this part and applicable Agency guidance, as well as the requirements in 12 CFR 1026.43(e)(2)(i) through (iii) and 12 CFR 1026.43(e)(3). An extension of credit made pursuant to a program administered by a State Housing Finance Agency is exempt from this requirement as defined in 12 CFR 1026.43(a)(3)(iv). Lenders will be allowed to cure unintentional errors and retain the qualified mortgage status if the conditions set in 12 CFR 1026.31(h) are met. [81 FR 26464, May 3, 2016]
      drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.109 (whole section) from snapshot 60bd6fb03befa14c; substring-verified.

Verbatim regulatory text (1)

Verbatim provisions from 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.109 — Qualified mortgage — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

7 CFR §3555.109

A qualified mortgage is a guaranteed loan meeting the requirements of this part and applicable Agency guidance, as well as the requirements in 12 CFR 1026.43(e)(2)(i) through (iii) and 12 CFR 1026.43(e)(3). An extension of credit made pursuant to a program administered by a State Housing Finance Agency is exempt from this requirement as defined in 12 CFR 1026.43(a)(3)(iv). Lenders will be allowed to cure unintentional errors and retain the qualified mortgage status if the conditions set in 12 CFR 1026.31(h) are met. [81 FR 26464, May 3, 2016]

Source: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.109 · source URL · snapshot 60bd6fb03befa14c