Common use of Mortgage Insurance Clause in Contracts

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is required. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx will otherwise NOT obtain SMC (collectively, “Non-SMC Mortgages”): Individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): • LTV is 90.01% - 100.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, if delivered under Cash Delivery, must be delivered under seller/servicer no. 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Mortgages having LTVs over 97%. If the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx Mae.

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589A06303, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and or 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is requiredrequired on all Mortgages where the LTV is above 80%. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx anticipates that all SMC Eligible Mortgages will be delivered for coverage under SMC. Nevertheless, with respect to Mortgages that do not comply with the eligibility requirements of the applicable mortgage insurer for such “secondary market policy” terms or that are not otherwise NOT obtain delivered for coverage under SMC (collectively, “Non-SMC Mortgages”): Individual ), individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): : • LTV is 90.01% - 100.0097.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. to be determined, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 or 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Nevertheless, SMC Eligible Mortgages having LTVs over 97%may be delivered under the same Pool Purchase Contract or the same seller/servicer branch no. If used with non-MyCommunityMortgage loans that comply with, and are delivered in connection with, the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx Mae“secondary market policy” terms of the “Special Requirements” section of this Master Agreement.

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589C06590, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is required. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx will otherwise NOT obtain SMC (collectively, “Non-SMC Mortgages”): Individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): • LTV is 90.01% - 100.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, if delivered under Cash Delivery, must be delivered under seller/servicer no. 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Mortgages having LTVs over 97%. If the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx Mae.

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589A06304, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and or 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is requiredrequired on all Mortgages where the LTV is above 80%. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx anticipates that all SMC Eligible Mortgages will be delivered for coverage under SMC. Nevertheless, with respect to Mortgages that do not comply with the eligibility requirements of the applicable mortgage insurer for such “secondary market policy” terms or that are not otherwise NOT obtain delivered for coverage under SMC (collectively, “Non-SMC Mortgages”): Individual ), individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): : • LTV is 90.01% - 100.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. to be determined, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 or 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). Nevertheless, SMC Eligible Mortgages may be delivered under the same Pool Purchase Contract or the same seller/servicer branch no. used with non-MyCommunityMortgage loans that comply with, and are delivered in connection with, the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement. The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Mortgages having LTVs over 97%. If the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx Mae.

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589A06304, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and or 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is requiredrequired on all Mortgages where the LTV is above 80%. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx anticipates that all SMC Eligible Mortgages will be delivered for coverage under SMC. Nevertheless, with respect to Mortgages that do not comply with the eligibility requirements of the applicable mortgage insurer for such “secondary market policy” terms or that it not otherwise NOT obtain delivered for coverage under SMC (collectively, “Non-SMC Mortgages”): Individual ), individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): : • LTV is 90.01% - 100.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. to be determined, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 or 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). Nevertheless, SMC Eligible Mortgages may be delivered under the same Pool Purchase Contract or the same seller/servicer branch no. used with non-MyCommunityMortgage loans that comply with, and are delivered in connection with, the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement. The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Mortgages having LTVs over 97%. If the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx MaeXxx.

Mortgage Insurance. Mortgage insurance requirements for SMC Eligible Mortgages: MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Mae Xxx will obtain “secondary market coverage” (“SMC”) must have an LTV in excess of 90% and must also comply with the “secondary market policy” terms of the “Special Requirements” section of this Master Agreement (“SMC Eligible Mortgages”); mortgage insurance must be provided by Radian. Lender must comply with the eligibility requirements as determined by the applicable mortgage insurer, and if a loan does not comply with such eligibility requirements, it may not be delivered as an SMC Eligible Mortgage (such ineligible mortgages are referred to herein as “SMC Ineligible Mortgages”). In addition, SMC Eligible Mortgages, (i) if delivered under MBS Delivery, must be delivered under Pool Purchase Contract no. C06589, and (ii) if delivered under Cash Delivery, must be delivered under seller/servicer branch no. 00000-000-0 and 00000-000-0. For SMC Eligible Mortgages, individual loan mortgage insurance providing 35% coverage is required. SMC Eligible MyCommunityMortgage Mortgages may be covered under “A Paper” or “A-Minus” mortgage insurance premium rates as determined by the eligibility requirements of the applicable mortgage insurer. Mortgage insurance requirements for (i) SMC Ineligible Mortgages and (ii) MyCommunityMortgage Mortgages delivered hereunder for which Xxxxxx Xxx Mae will otherwise NOT obtain SMC (collectively, “Non-SMC Mortgages”): Individual loan mortgage insurance coverage is required as follows; coverage may be provided by any eligible mortgage insurer (i.e., the mortgage insurer for Non-SMC Mortgages is not limited to the insurer(s) specified above for SMC Eligible Mortgages): • LTV is 90.01% - 100.0097.00%: 35% • LTV is 85.01% - 90.00%: 30% • LTV is 80.01% - 85.00%: 25% Non-SMC Mortgages, if delivered under Cash Delivery, must be delivered under seller/servicer no. 00000-000-0. Note: SMC Eligible Mortgages and Non-SMC Mortgages may NOT be delivered under the same Pool Purchase Contract (if delivered under MBS Delivery), or under the same seller/servicer branch no. (if delivered under Cash Delivery). The Lender is responsible for determining applicable state requirements relating to mortgage insurance availability for Mortgages having LTVs over 97%. If the specified mortgage insurance coverage is not available with respect to any mortgage, then such mortgage is ineligible for delivery to Xxxxxx Mae.