Common use of LTV, PMI Policy; LPMI Policy Clause in Contracts

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such Mortgage Loan Schedule, each Mortgage Loan with an LTV greater than 80%, at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicable, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy insurance premium;

Appears in 4 contracts

Samples: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)

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LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such the Mortgage Loan Schedule, each no Mortgage Loan with an has a LTV greater than 100%. Except for Pledged Asset Mortgage Loans, if the LTV of the Mortgage Loan was greater than 80%, % at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiumsis not an LPMI Policy, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or other than an LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or other than an LPMI Policy, as applicable, Policy and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy insurance premium;

Appears in 3 contracts

Samples: Seller's Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Seller's Warranties and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2), Seller's Warranties and Servicing Agreement (MASTR Alternative Loan Trust 2007-1)

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such the Mortgage Loan Schedule, each Mortgage Loan with an LTV greater than 80%, at the time of origination, a portion of the unpaid principal balance of the each Mortgage Loan is and will be insured as to payment defaults by a PMI Policy or LPMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Fxxxxx Mae or Xxxxxxx Fxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or an LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicable, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy such insurance premium;

Appears in 3 contracts

Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2)

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such the Mortgage Loan Schedule, each Mortgage Loan with an LTV greater than 80%, at the time of origination, a portion of the unpaid principal balance of the each Mortgage Loan is and will be insured as to payment defaults by a PMI Policy or LPMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or an LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicable, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy such insurance premium;

Appears in 2 contracts

Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-1f), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such Mortgage Loan Schedule, each Mortgage Loan with an LTV greater than 80%, at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Fxxxxx Mae or Xxxxxxx Fxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicable, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy insurance premium;

Appears in 1 contract

Samples: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)

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LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such At the time of origination, no Mortgage Loan Schedule, each Mortgage Loan with had an LTV greater than 100%. Except for Pledged Asset Mortgage Loans, if the LTV of the Mortgage Loan was greater than 80%, % at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid, and to the best of Company's knowledge, no state of facts exists that would result in the exclusion from, denial of, or defense to coverage. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicablerespectively, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy such insurance premium;

Appears in 1 contract

Samples: Seller's Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-A1)

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. At the time of origination, no Mortgage Loan had an LTV greater than 95%. Except as indicated specified on such the Mortgage Loan Schedule, each if the LTV of the Mortgage Loan with an LTV was greater than 80%, % at the time of origination, a portion of the unpaid principal balance of the Mortgage Loan is and will be insured as to payment defaults by a PMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid, and to the best of Company's knowledge, no state of facts exists that would result in the exclusion from, denial of, or defense to coverage. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy or LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicablerespectively, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy such insurance premium;

Appears in 1 contract

Samples: Seller's Warranties and Servicing Agreement (J.P. Morgan Mortgage Acquisition Trust 2006-Wf1)

LTV, PMI Policy; LPMI Policy. Each Mortgage Loan has an LTV as specified on the related Mortgage Loan Schedule. Except as indicated on such the Mortgage Loan Schedule, each Mortgage Loan with an LTV greater than 80%, at the time of origination, a portion of the unpaid principal balance of the each Mortgage Loan is and will be insured as to payment defaults by a PMI Policy or LPMI Policy. If the Mortgage Loan is insured by a PMI Policy for which the Mortgagor pays all premiums, the coverage will remain in place until (i) the LTV decreases to 78% or (ii) the PMI Policy is otherwise terminated pursuant to the Homeowners Protection Act of 1998, 12 USC §4901, et seq. All provisions of such PMI Policy or LPMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. The Qualified Insurer has a claims paying ability acceptable to Xxxxxx Mae Fanxxx Xxe or Xxxxxxx MacFrexxxx Xxc. Any Mortgage Loan subject to a PMI Policy or an LPMI Policy obligates the Mortgagor or the Company thereunder to maintain the PMI Policy or LPMI Policy, as applicable, and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule is net of any PMI Policy or LPMI Policy such insurance premium;

Appears in 1 contract

Samples: Master Seller’s Warranties and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1)

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