FHA Policy definition

FHA Policy means a mortgage insurance policy administered by the FHA with respect to reverse mortgage loans in accordance with the FHA Regulations, the HUD Handbook and other HUD publications relating to the Mortgage Loans, including, without limitation, related handbooks, circulars, notices and mortgagee letters.
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FHA Policy means the contract of insurance administered by the FHA with respect to mortgage loans in accordance with the FHA regulations and other HUD publications relating to mortgage loans, including, without limitation, related handbooks, circulars, notices and mortgagee letters.
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FHA Policy. A certificate of insurance issued by the FHA for the benefit of the mortgagee.
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Examples of FHA Policy in a sentence

  • The related FHA Policy calls for the assignment of the Loan to HUD as opposed to the co-insurance option.

  • No Loan is subject to any defect that could diminish or impair the FHA Policy, and all prior transfers, if any, of any Loan have been, and the transactions herein contemplated are, in compliance with all applicable FHA Regulations (including, without limitation, the HECM Handbook), and no circumstances exist with respect to the Loans that could permit the HUD/FHA to deny coverage, in whole or in part, under the related FHA Policy.

  • All necessary steps on the part of Seller have been taken to keep such insurance valid, binding and enforceable and, to the best of Seller’s knowledge, the FHA Policy is the binding, valid and enforceable obligation of the FHA to the full extent thereof, without any currently applicable surcharge, set off or defense and all actions of Seller that are necessary to ensure that each FHA Policy remains so valid binding and enforceable have been taken.

  • The Mortgage Loan obligates the Mortgagor thereunder to maintain the FHA Policy and to pay all premiums and charges in connection therewith.

  • All provisions of such FHA Policy have been and are being complied with and all premiums due thereunder have been paid.

  • Each FHA Policy is the valid, binding and enforceable obligation of FHA, to the full extent provided thereby, without surcharge, set-off or defense, and all actions that are necessary to ensure that each FHA Policy remains so valid, binding and enforceable have been taken.

  • Notwithstanding anything to the contrary in this Agreement, the Seller is under no obligation to repurchase any Mortgage Loan or pay any Purchase Price Adjustment if Purchaser or its designee has renewed, renegotiated, modified, compromised, settled or released the Mortgage Loan, Mortgaged Property, or Mortgagor in whole or in part in any material respect or impaired such Mortgage Loan or the related FHA Policy in any material respect.

Related to FHA Policy

  • RWI Policy has the meaning set forth in Section 6.16.

  • R&W Policy means the buyer-side representation and warranty insurance policy as may be issued to Purchaser in connection with this Agreement.

  • CSR Policy means a statement containing the approach and direction given by the board of a company, taking into account the recommendations of its CSR Committee, and includes guiding principles for selection, implementation and monitoring of activities as well as formulation of the annual action plan;

  • Master Policy means the contract between the Company and the Master Policyholder to provide Life Cover to the insured member on receipt of due premiums.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.