PMI Advance definition

PMI Advance. As defined in the related Servicing Agreement, if applicable.
View Source
PMI Advance. As defined in Section 17.7.1.
View Source

Examples of PMI Advance in a sentence

  • In the event that the Servicer has recovered all Liquidation Proceeds with respect to a Mortgage Loan other than any amounts as to which a Primary Mortgage Insurance claim has been made, the Servicer shall have the option, but not the obligation, to advance the amount of such claim (a "PMI Advance").

  • Section 17.7 PMI Advances 17.7.1. PMI Advance Option..........................................

Related to PMI Advance

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.