MGIC PMI Policy definition

MGIC PMI Policy. The Master Primary Mortgage Insurance Policy (No.32-110-4- 1483) with respect to the MGIC PMI Mortgage Loans and all endorsements thereto dated the Closing Date, issued by MGIC.
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MGIC PMI Policy. The mortgage guaranty insurance policy issued by Mortgage Guaranty Insurance Corporation, the form of which is attached hereto as Exhibit S.
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Examples of MGIC PMI Policy in a sentence

  • The Master Servicer shall promptly deliver or cause to be delivered to the Trustee (or the Custodian, as directed by the Trustee), upon the execution or receipt thereof the originals of the MGIC PMI Policy and any other primary mortgage insurance policies, any certificates of renewal, and such other documents or instruments that constitute Mortgage Loan Documents that come into the possession of the Master Servicer from time to time.

  • MGIC PMI Policy; Claims Under the MGIC PMI Policy............-65- SECTION 3.22.

  • The Depositor herewith delivers to the Trustee executed copies of the Mortgage Loan Purchase Agreements, and Assignment Agreements and the MGIC PMI Policy.

  • The Depositor herewith delivers to the Trustee and the Servicer an executed copy of the Mortgage Loan Purchase Agreement and the MGIC PMI Policy.

  • The Trustee (or the Custodian, as directed by the Trustee), shall retain possession and custody of the originals (to the extent available) of the MGIC PMI Policy and any other primary mortgage insurance policies, or certificate of insurance if applicable, and any certificates of renewal as to the foregoing as may be issued from time to time as contemplated by this Agreement.

  • The Master Servicer shall promptly deliver or cause to be delivered to the Trustee or the related Custodian, upon the execution or receipt thereof the originals of the MGIC PMI Policy and any other primary mortgage insurance policies, any certificates of renewal, and such other documents or instruments that constitute Mortgage Loan Documents that come into the possession of the Master Servicer from time to time.

  • With respect to any PMI Mortgage Loan insured by MGIC, Option One on behalf of the Trustee shall terminate the MGIC PMI Policy upon the earlier to occur of (i) the date upon which the LTV of such PMI Mortgage Loan is less than or equal to 55.00% or (ii) the date upon which termination is permitted pursuant to the terms of the MGIC PMI Policy.

  • In addition, on or prior to the Closing Date, the Depositor shall cause FSA to deliver the Certificate Insurance Policy to the Trustee, MGIC to deliver the MGIC PMI Policy to the Trustee and shall (i) cause the Interest Rate Hedge Agreement Counterparty to enter into the Interest Rate Hedge Agreements with the Trustee and (ii) deposit $147,743.00 with the Trust Administrator to be distributed on the first Distribution Date after the Closing Date in connection with the November Loans.

  • The Depositor herewith delivers to the Trustee and the Servicers an executed copy of the Mortgage Loan Purchase Agreement and the MGIC PMI Policy.

  • The Depositor herewith delivers to the Trustee executed copies of the Mortgage Loan Purchase Agreements, the Servicing Agreements and Assignment Agreements and the MGIC PMI Policy.

Related to MGIC PMI Policy

  • LPMI Policy A policy of primary mortgage guaranty insurance issued by a LPMI Insurer pursuant to which the related premium is to be paid from payments of interest made by the Mortgagor.

  • PMI Policy A policy of primary mortgage guaranty insurance issued by a Qualified Insurer, as required by this Agreement with respect to certain Mortgage Loans.

  • Bulk PMI Policy Not applicable.

  • 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.

  • Blanket insurance policy means a group policy covering a defined class of

  • 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.

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • R&W Insurance Policy has the meaning set forth in Section 6.15.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • R&W Policy means those certain buyer-side representations and warranties insurance policies purchased by Buyer in connection with this Agreement.

  • Insurance Policies has the meaning set forth in Section 3.16.

  • D&O Policy has the meaning set forth in Section 6.18(b).

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Certificate Insurance Policy The Financial Guaranty Insurance Policy No. CA01172A, and all endorsements thereto dated the Closing Date, issued by the Certificate Insurer for the benefit of the Class AF-3 Certificateholders.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

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

  • Reimbursement insurance policy means a policy of insurance

  • Insurance score means a number or rating that is derived from an algorithm, computer application, model, or other process that is based in whole or in part on credit information for the purposes of predicting the future insurance loss exposure of a consumer.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.