MI Policy definition

MI Policy. A private mortgage insurance policy underwritten by the MI Insurer with respect to an individual Mortgage Loan, issued pursuant to the MI Insurance Agreement.

MI Policy. The bulk primary mortgage insurance policy issued by the MI Policy Provider on the Cut-off Date, substantially in the form attached hereto as Exhibit S.

MI Policy. The bulk primary mortgage insurance policy issued by the Mortgage Insurance Policy Provider on the Cut-off Date. MIN: The Mortgage Identification Number for Mortgage Loans registered with MERS on the MERS(R)System.

Examples of MI Policy in a sentence

• To the extent coverage is available, the Servicer shall keep or cause to be kept in full force and effect each such MI Policy for the life of the Mortgage Loan; provided, however, that if a MI Insurer Insolvency Event has occurred and is continuing, the Servicer may terminate the MI Policy on any Mortgage Loan that is not then past due.

• The Servicer shall not take, or permit any subservicer to take, any action which would result in non-coverage under any applicable MI Policy of any loss which, but for the actions of the Servicer or Subservicer, would have been covered thereunder.

• In the event that a Mortgage Loan would be properly classified as a Liquidated Mortgage Loan but for the fact that not all MI Insurance Proceeds claimed under the related MI Policy have been received, the Servicer may, from its own funds, make an advance (an “MI Claim Payment Advance”) to the Collection Account in an amount not to exceed the claimed amount of such MI Insurance Proceeds not yet received.

• The Servicer shall not make any MI Claim Payment Advance with respect to a claim under an MI Policy if an MI Insurer Insolvency Event has occurred and is continuing with respect to the related MI Insurer.

• Upon receipt of notice by the Trustee from the Master Servicer of a notification that the MI Policy no longer covers any Mortgage Loans in the State of Kentucky or West Virginia, the Trustee shall withdraw from the Mortgage Insurance Premium Taxes Reserve Fund all remaining amounts on deposit, if any, and distribute them to the holder of the Mortgage Insurance Premium Reserve Fund Residual Right.

More Definitions of MI Policy

MI Policy. The Bulk Primary First Lien Master Policy 00000-0000-0 issued by the MI Insurer to the Trustee and all endorsements thereto, which is attached hereto as Exhibit C. MIN: The loan number for any MERS Loan.

MI Policy means (i) the Mortgage Insurance Policy (No. 29-393-4-2043) with respect to the MI Mortgage Loans, and all endorsements thereto, dated August 1, 2001, issued by Mortgage Guaranty Insurance Company and assigned to the Trustee on the Closing Date and (ii) the Mortgage Insurance Policy (No. 30-1089-0001) with respect to the MI Mortgage Loans, and all endorsements thereto, dated June 1, 2002, issued by Triad Guaranty Insurance Company.

MI Policy. The PMI primary private mortgage Insurance Policy No. 00000-0000-0 and all endorsements thereto, dated December 28, 2005, a form of which is attached hereto as Exhibit P.

MI Policy means a policy or certificate of primary mortgage guaranty insurance.

MI Policy. The primary private Mortgage Insurance Policy No. 25510-0006-0 and the related Mortgage Guaranty Commitment Certificaxx xxxxxxxxx ID # 2005-0937 and all endorsements thereto, dated December 20 2005, which is attached hereto as Exhibit C-2. MIN: The loan number for any MERS Loan.

MI Policy. The MI Insurer primary private mortgage Insurance Policy No. 04-690-5-1348 and all endorsements thereto, dated September 29, 2005, which is attached hereto as Exhibit J-2.

MI Policy. The credit insurance policy issued by the MI Policy Provider on the Cut-Off Date.