FHA Insurance Contract definition

FHA Insurance Contract or "FHA Insurance": The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.
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FHA Insurance Contract means the contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.
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FHA Insurance Contract or "FHA INSURANCE" means the contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.
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Examples of FHA Insurance Contract in a sentence

  • The substance of any such waiver, alteration or modification has been approved by the insurer under the Primary Insurance Policy, if any, and the title insurer, to the extent required, and, with respect to the FHA, RHS and VA Loans, has been approved by the FHA, to the extent required by the FHA Insurance Contract, the RHS to the extent required of the Rural Housing Service Guaranty or the VA, to the extent of the VA Guaranty Agreement, and its terms are reflected on the Mortgage Loan Schedule.

  • With respect to the FHA Loans, the FHA Insurance Contract is in full force and effect 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.

  • 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.

  • The substance of any such waiver, alteration or modification has been approved by the insurer under the PMI Policy, if any, and the title insurer, to the extent required by the policy, and, with respect to FHA Loans, RHS Loans and VA Loans, has been approved by the FHA, to the extent required by the FHA Insurance Contract, the RHS to the extent required by the Rural Housing Service Guaranty or the VA, to the extent of the VA Guaranty Agreement, and its terms are reflected on the Loan Schedule.

  • Similarly, if, as a result of a breach of the Servicer’s obligations under this Agreement, a Mortgage Loan should lose the benefit on FHA Insurance Contract or VA Guaranty, the Servicer shall, at its sole option, either (i) deposit an amount into the Collection Account equal to the portion that would have been paid under such contract or guaranty or (ii) repurchase the affected Mortgage Loan at the Purchase Price.

  • Seller shall make all advances and other payments and provide all such reports and notices as are required under the FHA Regulations, as applicable, and otherwise take all actions necessary to maintain and keep in full force and effect, during the term of this Agreement, the FHA Insurance Contract, including providing any notices required to be delivered to the FHA, by Seller in connection with the servicing of the Loans pursuant hereto.

  • The substance of any such waiver, alteration or modification has been approved by the insurer under the Primary Mortgage Insurance Policy, if any, and the title insurer, to the extent required, and, with respect to the FHA, RHS and VA Loans, has been approved by the FHA, to the extent required by the FHA Insurance Contract, the RHS to the extent required of the Rural Housing Service Guaranty or the VA, to the extent of the VA Guaranty Agreement, and its terms are reflected on the Mortgage Loan Schedule.

  • No Eligible Modified EBO has had a claim rejected by HUD, the VA, or RHS, as applicable, for any reason which impairs (i) the FHA Mortgage Insurance under the FHA Insurance Contract, (ii) the VA Loan Guaranty Agreement, or (iii) the Rural Housing Service Guaranty, as applicable, which, in any case, results in a loss in any portion of the principal balance of the related Loan.

  • The Servicing Released Master Servicer shall not permit any modification with respect to any Servicing Released Mortgage Loan that is a FHA Loan or VA Loan if such modification would materially adversely affect the related FHA Insurance Contract or VA Guaranty Agreement, as the case may be.


More Definitions of FHA Insurance Contract

FHA Insurance Contract. With respect to any Mortgage Loan, the related insurance policy granted by the FHA under the applicable section of the National Housing Act. FHA Regulations: Regulations promulgated by HUD under the National Housing Act, codified in 24 Code of Federal Regulations, including the HUD Handbook and other HUD
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Related to FHA Insurance Contract

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.