FHA Insurance. If the Contract is an FHA-Insured Contract, such Contract was originated in compliance with FHA Regulations and is insured, without setoff, surcharge or defense, by FHA Insurance. Following the assignment of such FHA-Insured Contract to the Trustee, the Trustee on behalf of the Trust will be entitled to the full benefits of the FHA Insurance.
FHA Insurance. If the Loan is an FHA-Insured Loan, such Loan was originated in compliance with FHA Regulations and is insured, without setoff, surcharge or defense, by FHA Insurance. Following the assignment of such FHA-Insured Loan to the Trustee, the Trustee on behalf of the Trust will be entitled to the full benefits of the FHA Insurance. If the Loan is an FHA-Insured Loan purchased from Empire Funding Corp., as of the Closing Date no claim for FHA Insurance has been made with respect to the Loan.
FHA Insurance. Each HECM Loan was underwritten in accordance with the Underwriting Guidelines and is fully insurable by FHA Mortgage Insurance, which insurance is in full force and effect or, if such insurance is not in full force and effect on the related Purchase Date, will be retroactive to the date such HECM Loan was originated, and the HECM Loan is not subject to any defect that could diminish or impair the FHA Mortgage Insurance, and all prior transfers, if any, of the HECM Loan have been, and the transactions herein contemplated are, in compliance with all applicable FHA Regulations, and no circumstances exist with respect to the HECM Loans that could permit the HUD/FHA to deny coverage, in whole or in part, under the related FHA Mortgage Insurance. The related FHA Mortgage Insurance policy calls for the assignment of the Mortgage Loan to HUD as opposed to any co-insurance option. The entire amount of the insurance premium has been paid to HUD/FHA and no portion is shared by the Seller or, if the monthly premium option has been chosen for such HECM Loan all such premiums due have been duly and timely paid.
FHA Insurance. To the extent applicable, the Seller will give notice to the FHA of the transfer of the Servicing Rights to the Buyer in accordance with the FHA Guide and requirements.
FHA Insurance. Each related HECM Loan is fully insurable by the FHA up to the Maximum Claim Amount, which insurance is in full force and effect and, except to the extent such FHA insurance is no longer valid because the Mortgage Loan is subject to an initial claim that has been paid in full by HUD prior to the Closing Date, as of the Closing Date, and all prior transfers, if any, of such Mortgage Loan have been, and the transactions herein contemplated are, in compliance with all applicable HUD HECM Guidelines. No Mortgage Loan is subject to any defect that could diminish or impair the FHA insurance and no circumstances exist with respect to the Mortgage Loans that could permit the FHA to deny coverage, in whole or in part, under the related FHA insurance. The related FHA policy calls for the assignment of the Mortgage Loan to HUD as opposed to the co-insurance option. The entire amount of all insurance premiums due on or before the Closing Date has been duly and timely paid to the FHA and no portion is shared by the Seller. (d)
FHA Insurance. Each Mortgage Loan is accompanied by a Mortgage Insurance Certificate issued (in physical or electronic form) by HUD/FHA as evidence that a mortgage has been insured and that a contract of mortgage insurance exists between HUD/FHA and the lender, or are otherwise insured to the extent required by GNMA for mortgage loans purchased by GNMA.
FHA Insurance. With respect to the FHA Loans, each such FHA Loan is eligible for insurance under an FHA Insurance Contract and there exists no impairment to full recovery without indemnity to the Department of Housing and Urban Development or the FHA under FHA Mortgage Insurance. All necessary steps have been taken to keep such insurance valid, binding and enforceable and each of such is the binding, valid and enforceable obligation of the FHA, to the full extent thereof, without surcharge, set-off or defense. Each FHA Loan was originated in accordance with the criteria of an Agency for purchase of such Loans.
FHA Insurance. 31 6.14 Limitation on Advances Secured by Pledged MBS.............. 31
FHA Insurance. Borrower shall take all actions necessary to maintain (i) the FHA insurance on any FHA Insured Loans and (ii) its status as an FHA-Approved Mortgagee.
FHA Insurance. The Seller will give notice to FHA of the transfer of the Servicing Rights to the Buyer in accordance with FHA guidelines.
