Loan Insurer definition

Loan Insurer means, in respect of any Loan, the insurer under the Loan Insurance Policy, which may be CMHC or another loan insurer;
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Loan Insurer means Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance company, in its capacity as the issuer of the Insurance Policies.
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Loan Insurer means, in respect of the Loan, the insurer under the Loan Insurance Policy, which may be CMHC, Sagen, Canada Guaranty Mortgage Insurance Company, or another loan insurer.
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Examples of Loan Insurer in a sentence

  • The Bank, a Loan Insurer or the Program Administrator, as the case may be, and their respective agents, in its sole discretion and at any reasonable time or times, may enter upon and inspect the Lands, and the cost of any such inspections shall be payable by the Borrower to the Bank immediately.

  • If the Bank, a Loan Insurer or the Program Administrator, as the case may be, does conduct an inspection, it will not be considered to be a chargee or mortgagee in possession, or in possession or control of, or managing, the Lands.

  • The Borrower will not make or permit to be made any alterations, improvements, additions, replacements or demolition (collectively, “Alterations”) to the Lands without the prior written approval of the Bank, a Loan Insurer or the Program Administrator, as the case may be, which approval may be withheld, or subject to such conditions as the Bank, a Loan Insurer or the Program Administrator, as the case may be, may impose, in the sole discretion of each.

  • The Borrower shall not use the Lands for business or industrial purposes unless contained within the limits as set out by the Loan Insurer.

  • In accordance with standard mortgage loan insurance requirements, Lenders are required to retain on file verification of completion of home improvements or notify the respective Mortgage Loan Insurer where improvements will no longer be carried out.

  • The Borrower may manage the Lands provided that such management by the Borrower is sound, reasonable and prudent and is similar to that provided by businesses specializing in such matters, as determined by the Bank and the Loan Insurer or Program Administrator.

  • If the Lands are an income producing property, the Bank may refuse to make a disbursement if such disbursement is not authorized by the Loan Insurer and the Bank shall retain at all times an amount sufficient to allow the work to be completed in accordance with the drawings and specifications it has approved and ensure compliance with the Loan Insurer’s conditions pertaining to compliance with the rental income objectives.

  • The Bank, a Loan Insurer or the Program Administrator, as the case may be, may (but is not obligated to) require the Borrower, at the Borrower’s expense, from time to time, to obtain an environmental audit of all or any part of the Lands, which environmental audit shall be satisfactory to the Bank, or the Program Administrator, as the case may be, but such audit does not relieve the Borrower of its obligations under this Section 12.

  • The exercise of any of the above-mentioned rights by any of the Bank, a Loan Insurer or Program Administrator or any of their respective agents shall not mean that the Bank, the Loan Insurer or Program Administrator or any of their respective agents are in possession of, manage, control or are liable for the Lands or are a chargee or mortgagee in possession of the Lands.

  • In the case of Indigenous Lands, in accordance with the first insured mortgage, the security for the Incentive may be a ministerial loan guarantee (MLG) or a leasehold mortgage permitted in accordance with the Indian Act, First Nation Land Management Act, Land Code or other First Nation legislation and the requirements of the respective Mortgage Loan Insurer.


More Definitions of Loan Insurer

Loan Insurer means an agency, department, administration or instrumentality, corporate or otherwise, of or in the Department of Housing and Urban Development, the Farmers Home Administration of the Department of Agriculture or the Veterans Administration of the United States of America, any private mortgage insurance company, or any other public or private agency which insures or guarantees loans; and
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Related to Loan Insurer

  • Insurer means a person who insures or guarantees for the benefit of the mortgagee all or any portion of the risk of loss upon borrower default on any of the mortgage loans originated, purchased or serviced by the Company or any of its Subsidiaries, including the Federal Housing Administration, the United States Department of Veterans’ Affairs, the Rural Housing Service of the U.S. Department of Agriculture and any private mortgage insurer, and providers of hazard, title or other insurance with respect to such mortgage loans or the related collateral.

  • Excess insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.