Mortgage guaranty insurance definition

Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.
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Mortgage guaranty insurance means that kind of insur- ance authorized by s. Ins 6.75 (2) (i).
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Mortgage guaranty insurance means surety insurance under which a 946 mortgagee or other creditor is indemnified against losses caused by the default of a debtor. 947 [(116)] (119) "Mortgage life insurance" means insurance on the life of a debtor in 948 connection with an extension of credit that pays if the debtor dies.
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Examples of Mortgage guaranty insurance in a sentence

  • Mortgage guaranty insurance companies shall establish formal underwriting guidelines which set forth the basis for concluding that prudent underwriting standards have been met.

  • Mortgage guaranty insurance, which is borrower- paid, must be cancelled by the lender when the loan balance is first scheduled to reach 78% of the original property value, irrespective of actual payments.

  • Mortgage guaranty insurance reserves are not typically recognized for estimates for future claims on insured loans that are not currently in default.

  • Mortgage guaranty insurance provides mortgage lenders with insurance against loss due to borrower non-payment and default on mortgage indebtedness.

  • Mortgage guaranty insurance overall is governed by the NAIC Statement of Statutory Accounting Principles No. 58.


More Definitions of Mortgage guaranty insurance

Mortgage guaranty insurance means surety insurance under which
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Mortgage guaranty insurance means surety insurance under which mortgagees and other creditors are indemnified against losses caused by the default of debtors.
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Mortgage guaranty insurance means surety insurance under which a 853 mortgagee or other creditor is indemnified against losses caused by the default of a debtor. 854 [(112)] (114) "Mortgage life insurance" means insurance on the life of a debtor in 855 connection with an extension of credit that pays if the debtor dies.
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Mortgage guaranty insurance means insurance against financial loss by reason of nonpayment of principal, interest and other sums agreed to be paid under the terms of any note or bond or other evidence of indebtedness secured by a mortgage, deed of trust, or other instrument constituting a lien or charge on real estate or on an owner-occupied manufactured or mobile home.
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Mortgage guaranty insurance means insurance against loss arising from any of the following:
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Mortgage guaranty insurance means and includes: (1) Insurance against financial loss by reason of nonpayment of principal, interest or other sums agreed to be paid under the terms of any note or bond or other evidence of indebtedness secured by a mortgage, deed of trust, or other instrument constituting a lien or charge on real estate, when the improvement on such real estate is a residential building or a condominium or townhouse unit or buildings designed for occupancy by not more than four families;
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Mortgage guaranty insurance means surety insurance under which a 979 mortgagee or other creditor is indemnified against losses caused by the default of a debtor. 980 [(120)] (124) "Mortgage life insurance" means insurance on the life of a debtor in 981 connection with an extension of credit that pays if the debtor dies.
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