Assets that qualify as AMA shall be limited to the following:
Whole loans that are eligible to secure advances under § 1266.7(a)(1)(i),
(a)(4), or (b)(1) of this chapter, excluding:
Single-family mortgage loans where the loan amount exceeds the limits established pursuant to 12 U.S.C. 1717(b)(2), unless the loan is guaranteed or insured by an agency or department of the U.S. government, in which case the limits in 12 U.S.C. 1717(b)(2) do not apply; and
Loans made to an entity, or secured by property, not located in a state;
Whole loans secured by manufactured housing, regardless of whether such housing qualifies as residential real property under applicable state law;
State and local housing finance agency bonds; or
Certificates representing interests in whole loans if:
The loans qualify as AMA under paragraphs (a) or (b) of this section and meet the nexus requirement of § 1268.4; and
The certificates:
Meet the credit enhancement requirements of § 1268.5;
Are issued pursuant to an agreement between the Bank and a participating financial institution to share risks consistent with the requirements of this part; and
Are acquired substantially by the initiating Bank or Banks.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.