PMI Advance Option. In the event that the Servicer has recovered all Liquidation Proceeds with respect to a Mortgage Loan other than any amounts as to which a Primary Mortgage Insurance claim has been made, the Servicer shall have the option, but not the obligation, to advance the amount of such claim (a "PMI Advance").
Appears in 16 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar7 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar3 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-1 Trust)
PMI Advance Option. In the event that the Servicer has recovered all Liquidation Proceeds with respect to a Mortgage Loan other than any amounts as to which a Primary Mortgage Insurance claim has been made, the Servicer shall have the option, but not the obligation, to advance the amount of such claim (a "βPMI Advance"β).
Appears in 1 contract
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)
