LPMI Fee Rate definition
LPMI Fee Rate. The portion of the Mortgage Interest Rate relating to an LPMI Loan, which is set forth on the related Mortgage Loan Schedule, to be retained by the Servicer to pay the premium due on the Policy with respect to such LPMI Loan.
LPMI Fee Rate. With respect to any Mortgage Loan that is indicated in the Mortgage Loan Schedule as covered by an LPMI Policy, the applicable rate defined in the applicable Servicing Agreement, and set forth on the Mortgage Loan Schedule.
LPMI Fee Rate. With respect to each Mortgage Loan which has an LPMI Policy, the portion of the Mortgage Interest Rate as set forth on the related Mortgage Loan Schedule (which shall be payable solely from the interest portion of Monthly Payments, Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds), which, during such period prior to the required cancellation of the LPMI Policy, shall be used to pay the premium due on the related LPMI Policy.
Examples of LPMI Fee Rate in a sentence
Such prepaid amounts (minus interest at the Servicing Fee Rate and any LPMI Fee Rate, if applicable) shall be the property of the Purchaser.
More Definitions of LPMI Fee Rate
LPMI Fee Rate. With respect to any LPMI Loan, the per annum rate of interest included as a part of the Mortgage Interest Rate on such LPMI Loan to cause an increase in the amount of the Monthly Payment by an amount sufficient to cover the LPMI Fee, as set forth on the related Mortgage Loan Schedule.