Covered Mortgage Loan definition

Covered Mortgage Loan. Any Mortgage Loan that is covered by a PMI Policy.

Covered Mortgage Loan. A Mortgage Loan listed on the Mortgage Loan Schedule as being covered by the Mortgage Insurance Policy.

Covered Mortgage Loan. Any mortgage loan that is covered by a Primary Mortgage Insurance Policy.

Examples of Covered Mortgage Loan in a sentence

• The “Mortgage Insurance Premium Rate” with respect to each Covered Mortgage Loan and any Distribution Date is a per annum rate equal to a fraction (expressed as a percentage), (x) the numerator of which is equal to the portion of the Mortgage Insurance Premium payable with respect to the related Distribution Date attributable to such Covered Mortgage Loan, multiplied by twelve, and (y) the denominator of which is equal to the Stated Principal Balance of such Covered Mortgage Loan.

• The “Expense Fee Rate” with respect to each Mortgage Loan is equal to the sum of (i) the Servicing Fee Rate, (ii) the trustee fee rate as provided in the Pooling and Servicing Agreement, (iii) with respect to a Covered Mortgage Loan, the Mortgage Insurance Premium Rate and (iv) with respect to any Mortgage Loan covered by a lender paid mortgage insurance policy (other than the Mortgage Insurance Policy), the related mortgage insurance premium rate.

• The Borrower shall not use a subservicer with respect to any Covered Mortgage Loan without the Lender’s prior written consent; provided that Lender will be deemed to consent if the subservicer is approved by the Owner.

• In the event of failure to pay any Covered Mortgage Loan Reporting Endorsement premium when due as respects any extension of coverage for specific Mortgage Loans scheduled via bordereaux submission by the Insured will result in the voiding ab initio of any coverage provided under such endorsement.

• Sometimes they are school-based, providing a class for learning life-skills or academic enrichment.

More Definitions of Covered Mortgage Loan

Covered Mortgage Loan. A Mortgage Loan categorized as Covered pursuant to Appendix E of Standard & Poor’s Glossary.

Covered Mortgage Loan means any credit trans-

Covered Mortgage Loan. Each Mortgage Loan covered by the PMI Policy, as identified on Schedule 2 of the Pooling and Servicing Agreement.

Covered Mortgage Loan. A Mortgage Loan categorized as Covered pursuant to Appendix E of Standard & Poor’s Glossary. Credit Risk Manager: Xxxxx Fargo Bank, N.A.

Covered Mortgage Loan. A Mortgage Loan categorized as Covered pursuant to Appendix E of Standard & Poor’s Glossary. Credit Risk Management Agreement: Each agreement between the Credit Risk Manager and the Servicers and the Credit Risk Manager and the Master Servicer, dated as of April 20, 2006. Credit Risk Manager: Xxxxxxx Fixed Income Services Inc., a Colorado corporation, formerly known as The Murrayhill Company.

Covered Mortgage Loan means any credit transaction that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a 1- to 4-unit dwelling or on residential real property that includes a 1- to 4-unit dwelling, except that it shall not include a credit transaction under an open

Covered Mortgage Loan means a federally related