hybrid adjustable rate mortgage
Defined in 1 place of the United States Code.
For purposes of this section, the term “hybrid adjustable rate mortgage” means a consumer credit transaction secured by the consumer's principal residence with a fixed interest rate for an introductory period that adjusts or resets to a variable interest rate after such period.
Source
- 2010–present15 U.S.C. § 1638aCommerce and Trade · Reset of hybrid adjustable rate mortgages · for purposes of this section