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.