LPMI Fee definition

LPMI Fee. The fee payable to the insurer for each Mortgage Loan subject to an LPMI Policy as set forth in such LPMI Policy.
LPMI Fee. With respect to each LPMI Loan, the portion of the Mortgage Interest Rate as set forth on the related Mortgage Loan Schedule (which shall be payable solely from the interest portion of Monthly Payments, Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds), which, during such period prior to the required cancellation of the LPMI Policy, shall be used to pay the premium due on the related LPMI Policy. Master Servicer: Aurora Loan Services Inc. or any successor in interest, or if any successor master servicer shall be appointed as provided in the Trust Agreement, then such successor master servicer.

Examples of LPMI Fee in a sentence

  • In the event that the interest payments made with respect to any LPMI Loan are less than the LPMI Fee, the Company shall advance from its own funds the amount of any such shortfall in the LPMI Fee, in payment of the premium on the related LPMI Policy.

  • With respect to LPMI Loans, maintain in full force and effect an LPMI Policy, and from time to time, withdraw the LPMI Fee with respect to such LPMI Loan from the Custodial Account in order to pay the premium thereon on a timely basis.

  • The Servicer shall be obligated to make premium payments with respect to (a) LPMI Policies, to the extent of the LPMI Fee set forth on the Mortgage Loan Schedule with respect to any LPMI Loans, and (b) in the case of PMI Policies required to be maintained by the Mortgagor rather than the Seller or the Trust Fund, if the Mortgagor is required but fails to pay any PMI Policy premium, such PMI Policy.

  • Such prepaid amounts (minus interest at the Servicing Fee Rate and the related LPMI Fee, if any) shall be the property of the Purchaser.

  • All payments of principal and interest, less interest at the Servicing Fee Rate and the related LPMI Fee, if any, due on the first Due Date after the related Cut-off Date shall belong to the Purchaser.


More Definitions of LPMI Fee

LPMI Fee. With respect to each Mortgage Loan which has an LPMI Policy, the premium due on the related LPMI Policy.
LPMI Fee. With respect to an LPMI Loan, the LPMI Fee Rate for that LPMI Loan times the stated principal balance of such LPMI Loan as of the applicable Cut-off Date.
LPMI Fee means the fee payable to the insurer for each Mortgage Loan subject to an LPMI Policy as set forth in such LPMI Policy and on the Mortgage Loan Schedule.
LPMI Fee. The portion of the Mortgage Interest Rate relating to an LPMI Loan which is used to pay the premium due on the LPMI Policy with respect to such LPMI Loan.
LPMI Fee means the fee payable to the insurer for each Mortgage Loan subject to a LPMI Policy as set forth in such LPMI Policy. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.