Insured mortgage definition

Insured mortgage means a mort- gage which has been insured as evi- denced by the issuance of a Mortgage Insurance Certificate or by the en- dorsement of the credit instrument for insurance by the Commissioner.(j) Contract of Insurance means the agreement evidenced by the issuance of a Mortgage Insurance Certificate or by the endorsement of the Commissioner upon the credit instrument given in connection with an insured mortgage, incorporating by reference the regula- tions in this subpart and the applicable provisions of the Act.(k) MIP means the mortgage insur- ance premium paid by the mortgagee to the Commissioner in consideration of the contract of insurance.(l)–(m) [Reserved](n) Open-end advance means an in- sured advance made by an approved mortgagee in connection with a pre- viously insured mortgage, pursuant to an open-end provision in the mortgage.(o) Open-end insurance charge means the charge paid by the mortgagee to the Commissioner in consideration of the insurance of an open-end advance.(p) Beginning of amortization means the date one month prior to the date of the first monthly payment to principal and interest.(q) Maturity means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage.(r) Debentures means registered, transferable securities in certificated or book entry form which are valid and binding obligations, issued in the name of the Mutual Mortgage Insurance Fund in accordance with the provisions of this part; such debentures are the primary liability of the Mutual Mort- gage Insurance Fund and are uncondi- tionally guaranteed as to principal and interest by the United States.(s) State includes the several States, Puerto Rico, the District of Columbia, Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, and the Virgin Islands.(t) TOTAL is an acronym that stands for ‘‘Technology Open to Approved Lenders.’’ TOTAL is a mortgage score- card based on a mathematical equation that is to be used within an automated underwriting system (AUS). TOTAL is a tool to assist the mortgagee in man- aging its workflow and expediting the endorsement process, and is not a sub- stitute for the mortgagee’s reasonable consideration of risk and credit worthi- ness. Direct Endorsement mortgagees § 203.255using TOTAL remain solely responsible for the underwriting decision.[36 FR 24508, Dec. 22, 1971, as amended at 37FR 8661, Apr. 29, 1972; 41 FR 49734, Nov. 10,1976; 49 FR 12697...

Insured mortgage means a mortgage insured or approved

Insured mortgage means a mort- gage which has been insured by the en- dorsement of the credit instrument by the Commissioner.

Examples of Insured mortgage in a sentence

• The geographic requirements for a juridical bay, as set out in Article 7 of the 1958 Convention and LOSC Article 10.

• Insured mortgage loans originated by lending institutions pursuant to the agency's insured mortgage loan purchase programs shall be subject to and comply with such terms and conditions as shall be established by the agreement.

• Insured mortgage applications that contemplate or rely on federal financial assistance such as Section 8 Housing Assistance Payments (HAP) may trigger the applicability of the URA, and if HOME or CDBG funds have been or will be invested in the property, the applicability of both the URA and Section 104(d).

• Financial institution means any bank including any merchant or investment bank, finance company, insurance or reinsurance company (other than a captive owned by the Insured), mortgage bank, savings and loan association, building society, credit union, stockbroker, investment trust, asset management company, fund manager or any entity established principally for the purpose of carrying on commodities, futures or foreign exchange trading or any other similar entity.

• You may make variations to the Insured mortgage or Loan account or both only with QBE LMI’s prior written consent.

More Definitions of Insured mortgage

Insured mortgage means a mort- gage which has been insured as evi- denced by the issuance of a Mortgage Insurance Certificate or by the en- dorsement of the credit instrument for insurance by the Commissioner.(j)

Insured mortgage or "insured mortgage loan" means a mortgage loan for land development for residential housing or for residential housing either made, insured, or guaranteed by or for which there is a commitment to make, insure, and guarantee by:

Insured mortgage means a mort- gage which has been insured as evi- denced by the issuance of a Mortgage Insurance Certificate or by the en- dorsement of the credit instrument for insurance by the Commissioner.(j) Contract of Insurance means the agreement evidenced by the issuance of a Mortgage Insurance Certificate or by the endorsement of the Commissioner upon the credit instrument given in connection with an insured mortgage, incorporating by reference the regula- tions in this subpart and the applicable provisions of the Act.(k) MIP means the mortgage insur- ance premium paid by the mortgagee to the Commissioner in consideration of the contract of insurance.(l)–(m) [Reserved]

Insured mortgage means a mortgage insured by the Canada Mortgage and Housing Corporation, Genworth Financial Inc., AIG United Guaranty Mortgage Insurance Company Canada, or any other mortgage insurer Approved by Equitable.

Insured mortgage means any Mortgage in respect of which Mortgage Insurance has been obtained and subsists.

Insured mortgage means a mortgage insured or approved to be insured or guaranteed by a Federal agency and shall include instruments or certificates which are guaranteed by a Federal agency and secured by insured or guaranteed mortgages.

Insured mortgage means a mortgage on multi-family residential properties that is insured or coinsured by the Federal Housing Administration and securitized by GNMA.