Common use of Mortgage Insurance Clause in Contracts

Mortgage Insurance. A policy, contract, guaranty (other than the Guaranty) or arrangement (including any statutory arrangement) with respect to a single Mortgage Loan, issued under or arising from a program established by a Person (whether a governmental unit or other than a governmental unit), under which all or a portion of the obligations owing under the Mortgage Loan, if not paid by the Borrower, will be paid by the applicable Person unless an exclusion under such single-loan policy, contract, guaranty or arrangement applies.

Mortgage Insurance. A policy, contract, guaranty (other than the Guaranty) or arrangement (including any statutory arrangement) with respect to a single Mortgage Loan, issued under or arising from a program established by a Person (whether a governmental unit or other than a governmental unit), under which all or a portion of the obligations owing under the Mortgage Loan, if not paid by the Borrower, will be paid by the applicable Person unless an exclusion under such single-single loan policy, contract, guaranty or arrangement applies.