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.
Mortgage guaranty insurance means that kind of insur- ance authorized by s. Ins 6.75 (2) (i).
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.

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 may be transacted in this state by insurers fulfilling the requirements of paragraph (E)(6) of this rule and holding a certificate of authority for the transaction of such insurance pursuant to Title XXXIX of the Revised Code and shall be written only to insure loans secured by authorized real estate securities as defined in paragraph (C)(2) of this rule.

  • 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 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
Mortgage guaranty insurance means surety insurance under which mortgagees and other creditors are indemnified against losses caused by the default of debtors.
Mortgage guaranty insurance means insurance against loss arising from any of the following:
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.
Mortgage guaranty insurance means surety insurance under which a mortgagee
Mortgage guaranty insurance means surety insurance under which a
Mortgage guaranty insurance means insurance against financial loss by reason of nonpayment of: