Public-domain · open source
OpenJurist

alternative mortgage transaction

Defined in 1 dictionary — U.S. Code

United States Code

12 U.S.C. § 3802 — as used in this chapter (4 versions over time)

the term “alternative mortgage transaction” means a loan or credit sale secured by an interest in residential real property, a dwelling, all stock allocated to a dwelling unit in a residential cooperative housing corporation, or a residential manufactured home (as that term is defined in section 5402(6) of title 42), in which the interest rate or finance charge may be adjusted or renegotiated, described and defined by applicable regulation; and