FHA Mortgage Insurance Certificate definition

FHA Mortgage Insurance Certificate means the certificate evidencing the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

FHA Mortgage Insurance Certificate means the certificate evidencing the contractual obligation of the FHA with respect to the insurance of a HECM Buyout. “FHA Regulations” shall mean the regulations promulgated by the Department of Housing and Urban Development under the National Housing Act, as amended from time to time and codified in Part 24 of the Code of Federal Regulations, and other Department of Housing and Urban Development issuances relating to Mortgage Loans, including the related handbooks, circulars, notices and mortgagee letters. “Fidelity Insurance” shall mean insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Buyer. “Financial Condition Covenants” shall have the meaning specified in the Pricing Letter.

FHA Mortgage Insurance Certificate means HUD Form 59100 or such other form as HUD may prescribe from time to time, evidencing mortgage insurance provided by FHA, as authorized under the National Housing Act.

Examples of FHA Mortgage Insurance Certificate in a sentence

• FHA Mortgage Insurance Certificate, or the VA Loan Guaranty or USDA/Rural Development Guaranty, as applicable.

• The original recorded Mortgage and original recorded Assignment of Mortgage Note and Mortgage and the final Title Guaranty Certificate and FHA Mortgage Insurance Certificate or VA Loan Guaranty Certificate or USDA Rural Development Guaranty must be submitted to the Servicer within sixty (60) days from the Purchase Date of the subject Mortgage Loan.

• With regard to FHA or VA Loans, Seller fails to submit for FHA Mortgage Insurance Certificate ('MIC'), or VA Loan Guaranty Certificate ('LGC') within sixty (60) days following the Note Date; with regard to USDA Loans, Seller fails to submit for USDA guaranty within thirty (30) days following the Note Date.

• Each Xxxxxx Mae Modified Loan (i) was modified in accordance with the Xxxxxx Xxx guide; (ii) with respect to (x) a FHA Loan, is fully insured by the FHA pursuant to a FHA Mortgage Insurance Certificate; (y) a VA Loan, is guaranteed by the VA pursuant to a VA Loan Guaranty Agreement and (z) a RD Loan, is guaranteed by the RD pursuant to a RD Loan Guaranty Agreement and (iii) conforms to the requirements of Xxxxxx Mae for securitization.

• The original recorded Mortgage, original recorded Assignment of Mortgage, the title insurance policy and FHA Mortgage Insurance Certificate, HUD Loan Guarantee Certificate or VA Loan Guaranty Certificate must be submitted to the Servicer within one hundred twenty (120) days from the date of closing of the subject Mortgage Loan.

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• Each FHA Mortgage Insurance Certificate and VA Guaranty is the valid, binding and enforceable obligation of FHA and VA, respectively, to the full extent provided thereby, without surcharge, set-off or defense, and all actions that are necessary to ensure that such FHA Mortgage Insurance Certificate or VA Guaranty, as applicable, remains so valid, binding and enforceable have been taken.

• With respect to each FHA Loan and VA Loan, as applicable, the applicable FHA Mortgage Insurance Certificate or VA Guaranty is in full force and effect, and there exists no defense or impairment to full recovery thereunder to the maximum extent provided thereby, without, in the case of any FHA Loan, indemnity to HUD or FHA.

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• The original recorded Mortgage and original recorded Assignment of Mortgage, the title insurance policy and FHA Mortgage Insurance Certificate, VA Loan Guaranty Certificate, RD Guaranty Certificate or Private Mortgage Guaranty Insurance, if applicable, must be submitted to the Servicer within 90 days from the Purchase Date of the subject Mortgage Loan.

More Definitions of FHA Mortgage Insurance Certificate

FHA Mortgage Insurance Certificate means the certificate evidencing the contractual obligation of the FHA with respect to the insurance of a HECM Buyout. “FHA Regulations” shall mean the regulations promulgated by the Department of Housing and Urban Development under the National Housing Act, as amended from time to time and codified in Part 24 of the Code of Federal Regulations, and other Department of Housing and Urban Development issuances relating to Mortgage Loans, including the related handbooks, circulars, notices and mortgagee letters. “Fidelity Insurance” shall mean insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud in an aggregate amount acceptable to Buyer. “Financial Condition Covenants” shall have the meaning specified in the Pricing Letter. “Financial Reporting Group” shall mean Seller and each of Seller’s Affiliates that constitute a single group for purposes of reporting Financial Statements. “Financial Statements” shall have the meaning set forth in Section 12(d) of the Agreement. “GAAP” shall mean generally accepted accounting principles as in effect from time to time in the United States of America. “Xxxxxx Xxx” shall mean the Government National Mortgage Association, or any successor thereto. “Xxxxxx Xxx HECM Repurchase Trigger” shall mean the lesser of (a) 98% of the Maximum Claim Amount or (b) such lesser percentage of the Maximum Claim Amount prescribed by Xxxxxx Xxx. “GLB Act” shall have the meaning set forth in Section 12(y) of the Agreement. “Governmental Authority” shall mean any nation or government, any state, county, municipality or other political subdivision thereof or any governmental body, agency, authority, department or commission (including, without limitation, any taxing authority) or any instrumentality or officer of any of the foregoing (including, without limitation, any court or tribunal) exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any corporation, partnership or other entity directly or indirectly owned by or controlled by the foregoing. “Guarantee” shall mean, as to any Person, any obligation of such Person directly or indirectly guaranteeing any Indebtedness of any other Person or in any manner providing for the payment of any Indebtedness of any other Person or otherwise protecting the holder of such Indebtedness a...