Mortgage Insurance Coverage definition

Mortgage Insurance Coverage means insurance coverage provided by any mortgage guaranty or similar insurance policy related to a Single Family Mortgage Loan.
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Examples of Mortgage Insurance Coverage in a sentence

  • Mortgage Insurance Coverage The term of all mortgage insurance or guarantees with respect to the Authority's mortgage loans shall not expire prior to the payment in full of said loan.

  • For an example of how mortgage insurance requirements vary based on down payment, see Fannie Mae, Selling Guide, B7-1-02: Mortgage Insurance Coverage Requirements, at https://www.fanniemae.com/content/guide/selling/b7/ 1/02.html.

  • On the 30th of June, 2016, the Group has recognised a write-off due to loss in value of its trade receivables that was worth PLN 14,773 thousand and resolved write-offs, which had been previously created and worth PLN 2,416 thousand in relation to payment of debts.

  • MORTGAGE INSURANCE/CREDIT ENHANCEMENT Mortgage Insurance Coverage (“MI”) MI is not required, provided that at delivery Mortgages with LTVs over 80% will be subject to the applicable LLPAs per Attachment 1.

  • For an original loan-to-value ratio in the range of greater than 85% to and including 97%, the Mortgage Insurance Coverage % as reported according to Schedule 1 is less than 25%.

  • For an original loan-to-value ratio in the range of greater than 95% to and including 97%, the Mortgage Insurance Coverage % as reported according to Schedule 1 is less than 35%.

  • The Mortgage Insurance Coverage Payment obligation of GMACM shall be tracked by GMACM on a quarterly basis, with the first reporting to be provided on April 30, 2011, reporting as of March 31, 2011, all Covered Mortgages on which mortgage insurance has been rescinded and which have not been repurchased by GMACM.

  • Table 4: Minimum Mortgage Insurance Coverage Option Representative Credit Score(7) Only applies to loans with amortization terms >20 years and to all manufactured housing loans.Source - https://www.fanniemae.com/content/guide/selling/b7/1/02.html - See below for additional information on "Minimum MI determination" Fannie Mae Confidential and Proprietary 43Actual Risk Factor to determine the "Monthly Premium Rate Percentage Increase Factor".

  • The amount of the Mortgage Insurance Coverage Payment for each loan shall be calculated using the "Percentage Option." The "Percentage Option" means the claim payment option under a mortgage guaranty insurance policy pursuant to which the insurance benefit is calculated as a percentage of the default UPB plus interest and certain costs up to date of claim filing.

  • A brief statement of the Firm/Consultant understanding of the work to be done, the commitment to perform the work within the time period, and a statement of why the firm believes it is best qualified to perform the engagement.

Related to Mortgage Insurance Coverage

  • Insurance Coverage Contractor shall, at Contractor’s sole expense, procure, maintain and keep in force for the duration of this Contract the following insurance conforming to the minimum requirements specified below. Unless specified herein or otherwise agreed to by the City, the required insurance shall be in effect prior to the commencement of work by Contractor and shall continue in force as appropriate until the latter of:

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Blanket insurance policy means a group policy covering a defined class of

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Health insurance coverage means benefits consisting of medical care (provided directly, through

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Individual health insurance coverage means health insurance coverage offered to individuals in the

  • Bond Insurance Policy means the municipal bond new issue insurance policy issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds.

  • Mortgage Insurer means CMHC, Genworth Financial Insurance Company Canada, or any other company that insures the payment of mortgages to mortgage lenders.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Property Insurance is defined in Section 6.10(a).

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Franchise insurance means an individual insurance policy provided through a