residential mortgage transaction

The term “residential mortgage transaction” means a transaction consummated on or after the date that is 1 year after July 29, 1998 , in which a mortgage, deed of trust, purchase money security interest arising under an installment sales contract, or equivalent consensual security interest is created or retained against a single-family dwelling that is the principal residence of the mortgagor to finance the acquisition, initial construction, or refinancing of that dwelling.


12 USC § 4901(15)

Scoping language

In this chapter
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