116) Similar to the Board's proposed QM definition, the CFPB did not adopt key features from the Agencies proposed QRM definition in any of its final QM definitions such as a down payment requirement, a LTV ratio requirement, a written appraisal requirement, an assumability
requirement, or any servicing standards.
He who understands with theological correctness what potentia obedientialis for hypostatic union means--the assumability
of human nature by the person of the Word of God--knows that this potentia cannot be just another ability alongside other possibilities of the human condition, but is objectively identical with the essence of man.
Following this first meeting with Fannie Mae, the Alliance emphasized it would stand firm on three issues: the $500 minimum out-of-pocket requirement, assumability
of loans and the waiver of proof of resident-alien status.
34) Clearly, the Code should be changed to reflect the reliance that debtors place on the assumability
of prepetition agreements for DIP financing, and to reduce the costs associated with unclear risk allocation due to conflicting interpretations of the Code.
Here is a summary of some basic loan provisions, including those already discussed, which should be identified, reread, and planned for: Extension Options and Conditions; Debt Service Coverage Ratios; Loan To Value Ratios; Assumability
on Sale; Occupancy Requirements;
Even such standard loan features as prepayment protection, assumability
and recourse could become the subject of a misrepresentation claim to the extent underlying provisions are nonstandard.