Definition of "nonconforming" [non•con•form•ing]

  • (adjective) That does not conform, either to the rules of an established church, or to official regulations

Use "nonconforming" in a sentence

  • "-- Converting jumbo to non-jumbo: Another consequence of the financial crisis has been to increase the price difference between standard conforming loans that can be purchased by Fannie Mae and Freddie Mac, which cannot exceed $417,000, and loans that exceed that amount, called nonconforming jumbos."
  • "Investors are balking at buying securities backed by so-called nonconforming loans."
  • "Most jumbo mortgages, also known as nonconforming mortgages, require at least 20 percent down and a credit score of 720 or more."

Words like "nonconforming"

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