LPI Policy definition

LPI Policy has the meaning assigned to such term in Section 4.4(b).

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LPI Policy means a lender-placed residential hazard, flood, or wind LPI policy procured by the ▇▇▇▇▇▇-▇▇▇▇▇▇▇ Company on or after March 1, 2014, and placed pursuant to a mortgage loan agreement, home equity loan agreement, or home equity line of credit serviced by Shellpoint to cover a borrower’s failure to maintain the required insurance coverage on the residential property securing the loan.

LPI Policy means a lender-placed residential hazard and/or wind-only insurance policy issued by, subscribed by, or procured or obtained through the Insurance Entities, and placed during the Settlement Class Period pursuant to a reverse mortgage loan agreement, including home equity conversion mortgages, serviced by Financial Freedom to cover a Borrower’s failure to maintain the required insurance coverage on the residential property securing the reverse mortgage loan.

Examples of LPI Policy in a sentence

• If an Obligor makes a payment with respect to a Receivable having an LPI Policy in place that is less than the Scheduled Payment, then, unless otherwise required by applicable law or the terms of the related Receivable, the Servicer shall apply the payment first to any accrued and unpaid interest on the Receivable, then to any outstanding Advanced Insurance Premium, and then to principal and other amounts due on the Receivable in accordance with the Servicer’s standard and customary servicing procedures.

• Any cost incurred by the Servicer in maintaining such LPI Policy shall be recoverable only out of premiums paid by the Obligors or Net Liquidation Proceeds with respect to the Receivable, as provided in Section 4.4(c).

• The RoundPoint Settlement Class shall consist of: All borrowers with mortgage loans secured by property in the United States who, within the Settlement Class Period (as defined below), were charged by RoundPoint under an LPI Policy for Residential Property, and who, within the Settlement Class Period, either (i) paid to RoundPoint the Net Premium for that LPI Policy or (ii) did not pay to and still owe RoundPoint the Net Premium for that LPI Policy.

• Upon the reasonable request of Class Counsel, the Settlement Administrator shall inform Class Counsel, among other things and with the exception of confidential information, non-public personal information, and other information protected by privacy laws, of the amount of any Settlement Class Member’s LPI premium associated with a Claimant’s LPI Policy reflected in the electronic information provided to the Settlement Administrator by Shellpoint.

• The "RoundPoint Settlement Class" includes: All borrowers with mortgage loans secured by property in the United States who, within the Settlement Class Period (as defined below), were charged by RoundPoint under an LPI Policy for Residential Property, and who, within the Settlement Class Period, either (i) paid to RoundPoint the Net Premium for that LPI Policy or (ii) did not pay to and still owe RoundPoint the Net Premium for that LPI Policy.

More Definitions of LPI Policy

LPI Policy means a lender‐placed residential hazard, flood, flood gap, or wind‐only insurance policy issued by the Assurant Defendants for a loan or line of credit serviced by the Nationstar Defendants.

LPI Policy means a lender-placed residential hazard insurance

LPI Policy means a lender-placed residential hazard, flood, flood gap or wind-only insurance policy or policies issued by American Security Insurance Company (“ASIC”), Security General Insurance Company (“SGIC”), Voyager Indemnity Insurance Company (“VIIC”) or another insurance company, and placed pursuant to a mortgage loan agreement, home equity loan agreement, or home equity line of credit, serviced by Carrington to cover a borrower’s failure to maintain the required coverage on the residential property securing the loan.

LPI Policy means a lender‐placed Residential hazard, flood, flood gap, and/or wind‐only insurance policy issued by the Assurant Defendants

LPI Policy means a lender-placed residential hazard, flood, flood gap or wind-only insurance policy or policies issued by American Security Insurance Company (“ASIC”), Standard Guaranty Insurance Company (“SGIC”), Voyager Indemnity Insurance Company (“VIIC”), or another insurance company, and placed pursuant to a mortgage loan agreement, home equity loan agreement, or home equity line of credit serviced by Caliber to cover

LPI Policy means a lender-placed residential hazard, flood, flood gap or wind-only insurance policy or policies issued by American Security Insurance Company (“ASIC”), Standard Guaranty Insurance Company (“SGIC”), Voyager Indemnity Insurance

LPI Policy means a lender‐placed residential hazard, flood, flood gap, or wind‐only insurance policy and such insurance coverage placed pursuant to a mortgage loan agreement, home equity loan agreement, or home equity line of credit serviced by Ocwen to cover a borrower’s failure to maintain the required insurance coverage on the residential property securing the loan.