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15.117 Purchase Price
The related purchase price percentage multiplied by the outstanding principal amount of the loan as of the related purchase date, plus any SRP for such loan as paid on the related closing day by PHH to the Client pursuant to the Client’s...

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-91-Quality-Control-(QC)

15.118 Purchase Price Percentage
The percentage of the outstanding principal amount of a loan specified in a commitment, which is used to calculate the purchase price for the loan and to determine if the purchase price includes a premium.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-92-Rate-Lock-Desk

15.119 Purchaser’s File Submission Guidelines
PHH’s requirements, including guidelines, policies, procedures and delivery requirements of a Credit File and Loan File being purchased by PHH, which PHH may provide to the Client and may amend and supplement from time to time in PHH’s...

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-93-Rating-Agency

15.120 Purchaser’s Underwriting Guidelines
PHH’s underwriting guidelines, which PHH may provide to the Client and may amend and supplement from time to time in PHH’s sole discretion.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-94-Reconstitution-Agreement

15.121 Qualified Mortgage
Has the meaning assigned to such term in Regulation Z and related rules.

Resources > FAQ > CHAPTER-15-GLOSSARY > 14-95-Reconstitution-Date