The Qualified Mortgage (QM).The key feature of the new rule is the establishment of a “qualified mortgage” — with no risky loan features – such as interest-only payments or balloon payments – and with fees that add up to no more than 3% of the loan amount. In addition, these loa...
the Authority has agreed to provide the Owner with funds in the amount of [11A] dollars ($ [11B] ) derived from [12A] (the “ [12B] Funds”) for the development of the Project, the terms of which are more fully set forth in the Authority’s loan agreement with Owner and other col...