Common use of Primary Mortgage Insurance Clause in Contracts

Primary Mortgage Insurance. Each Mortgage Loan has an LTV or CLTV as set forth on the related Mortgage Loan Schedule. Except as set forth on such Mortgage Loan Schedule, each First Lien Mortgage Loan with an LTV of 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 First Lien Mortgage Loan is insured by a PMI Policy which is 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 Xxx or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;

Primary Mortgage Insurance. Each No Mortgage Loan has an a LTV or CLTV as set forth on the related Mortgage Loan Schedulegreater than 100%. Except as set forth on such the Mortgage Loan Schedule, each First Lien Mortgage Loan with an LTV of 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 First Lien Mortgage Loan is insured by a PMI Policy which is 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. At its origination, no Mortgage loan secured by a second lien on the Mortgaged Property had a combined LTV greater than 100%. 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 Xxx or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;

Primary Mortgage Insurance. Each Mortgage Loan has an LTV or CLTV as set forth on the related Mortgage Loan Schedule. Except as set forth on such Mortgage Loan Schedule, each First Lien Mortgage Loan with an LTV of 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 First Lien Mortgage Loan is insured by a PMI Policy which is 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 Xxx Fxxxxx Mxx or Xxxxxxx Fxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;

Primary Mortgage Insurance. Each No Mortgage Loan has an a LTV or CLTV as set forth on the related Mortgage Loan Schedulegreater than 100%. Except as set forth on such the Mortgage Loan Schedule, each First Lien Mortgage Loan with an LTV of 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 First Lien Mortgage Loan is insured by a PMI Policy which is 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. At its origination, no Mortgage loan secured by a second lien on the Mortgaged Property had a combined LTV greater than 100%. 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 Xxx or Xxxxxxx Mac. Any Mortgage Loan subject to a PMI Policy other than an LPMI Policy obligates the Mortgagor or the Company, as applicable, to maintain the PMI Policy other than an LPMI Policy and to pay all premiums and charges in connection therewith;