qualified subprime loan
Defined in 1 place of the United States Code.
The term “qualified subprime loan” means an adjustable rate single-family residential mortgage loan made after December 31, 2001, and before January 1, 2008, that the bond issuer determines would be reasonably likely to cause financial hardship to the borrower if not refinanced.
Source
- 2008–present26 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · for purposes of this section