Common use of FHA Insurance Coverage Reserve Account Clause in Contracts

FHA Insurance Coverage Reserve Account. The account established by the FHA pursuant to the Contract of Insurance which is adjusted and maintained under Title I (see 24 C.F.R. 201.32(a)). FHA Insurance Payment Amount. With respect to any Distribution Date and with respect to an FHA Loan for which an insurance claim has been made by the Contract of Insurance Holder or the Claims Administrator and paid by the FHA or rejected, in part, by the FHA, an amount equal to the sum of such of the following as are appropriate: (i) the amount, if any, received from the FHA, (ii) with respect to claims rejected in part, the amount, if any, received from Mego or the Master Servicer pursuant to Section 4.12 and (iii) the amount received from the sale of FHA Pending Claims sold pursuant to Section 11.01(b).

FHA Insurance Coverage Reserve Account. The account established by the FHA pursuant to the Contract of Insurance which is adjusted and maintained under Title I (see 24 C.F.R. 201.32(a)). FHA Insurance Payment Amount. With respect to any Distribution Date and with respect to an FHA Loan for which an insurance claim has been made by the Contract of Insurance Holder or the Claims Administrator and paid by the FHA or rejected, in part, by the FHA, an amount equal to the sum of such of the following as are appropriate: (i) the amount, if any, received from the FHA, (ii) with respect to claims rejected in part, the amount, if any, received from Mego or the Master Servicer pursuant to Section 4.12 3.12 and (iii) the amount received from the sale of FHA Pending Claims sold pursuant to Section 11.01(b9.01(d).