Residential Mortgage Loan Law and Legal Definition

According to 12 USCS § 5102 (8), the term residential mortgage loan means “any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling (as defined in section 103(v) of the Truth in Lending Act [15 USCS § 1602(v)]) or residential real estate upon which is constructed or intended to be constructed a dwelling (as so defined).”