Mortgage Pool Insurance Policy definition

Mortgage Pool Insurance Policy. Either of the mortgage pool insurance policies provided by the Mortgage Pool Insurer having an initial amount of coverage equal to $9,964,881.81 and $13,523,232.72, respectively, with respect to the Group 1 Loans and Group 2 Loans, and including any and all related endorsements, copies of which are attached hereto as Exhibits Z-1 and Z-2, or any replacement obtained by the Servicer pursuant to Section 3.21 hereof.
Sample 1
Mortgage Pool Insurance Policy. The mortgage pool insurance policy, a form of which is attached as Exhibit O to this Agreement, and the Fraud Waiver and Ninety-Seven Percent Loan-to-Value Program Endorsement relating thereto, or any replacement insurance policy obtained by the Master Servicer pursuant to Section 3.16, in the total initial amount equal to 7.25% of the aggregate unpaid principal balance of the Mortgage Loans as of the Cut-Off Date. The initial Mortgage Pool Insurance Policy shall be issued by United Guaranty Residential Insurance Company.
Sample 1
Mortgage Pool Insurance Policy. The mortgage pool insurance policy number R0146011 provided by the Mortgage Pool Insurer for the Covered Loans, having an initial amount of coverage equal to $28,461,345, and including any and all related endorsements, a copy of which is attached hereto as Exhibit P. Mortgage Pool Insurance Trigger: With respect to any date of determination, the satisfaction of the Deductible (as defined in the Mortgage Pool Insurance Policy), subject to the Maximum Aggregate Liability (as defined in the Mortgage Pool Insurance Policy).
Sample 1

Examples of Mortgage Pool Insurance Policy in a sentence

  • From time to time as is appropriate for the servicing or foreclosures of any Mortgage Loan, including, for this purpose, collection under any Primary Insurance Policy or any Mortgage Pool Insurance Policy, the Master Servicer shall deliver to the Custodian a Request for Release certifying as to the reason for such release.

  • The Co-Trustee shall execute and deliver claims pursuant to and in accordance with the Mortgage Pool Insurance Policy on behalf of the Trustee and for the benefit of the Certificateholders.

  • The Co-Trustee will maintain or cause to be maintained at its expense an office or offices or agency or agencies in Pennsylvania where the Mortgage Pool Insurance Policy shall be delivered.

  • The Master Servicer shall, from time to time, make withdrawals from the Mortgage Pool Insurance Premium Sub-Account to pay the Premium due and owing with respect to the Mortgage Pool Insurance Policy in accordance with Section 3.16.

  • In connection with its activities hereunder, the Master Servicer agrees to present, on behalf of the Trustee and Certificateholders, claims to the Mortgage Pool Insurer under the Mortgage Pool Insurance Policy, and, in this regard, to take such commercially reasonable action (other than the making of Nonrecoverable Advances) as shall be necessary to permit recovery under the Mortgage Pool Insurance Policy.

  • Any such purchase shall reduce the amount of available coverage under the Mortgage Pool Insurance Policy by the amount of such purchase price.

  • All projects must perform work within one or more of the categories listed in the following section.

  • In addition, on the Closing Date, the Co-Trustee shall pay the Mortgage Pool Insurer Fee to the Mortgage Pool Insurer, to the extent of funds on deposit in the Distribution Account, and the Depositor shall cause the Mortgage Pool Insurer to deliver the Mortgage Pool Insurance Policy to the Co-Trustee.

  • The Co-Trustee acknowledges receipt of the Mortgage Pool Insurance Policy and agrees to perform such services at such office in the manner described below.

  • Each of the Trustee and the Master Servicer hereby covenant not to cancel either of the Mortgage Pool Insurance Policy or the Special Hazard Insurance Policy until the Trust is terminated in accordance with the provisions hereof.


More Definitions of Mortgage Pool Insurance Policy

Mortgage Pool Insurance Policy. The mortgage pool insurance policy to be maintained in accordance with Section 3.13 (or any replacement policy therefor obtained pursuant to such Section 3.13), together with all endorsements thereto. The form of the Mortgage Pool Insurance Policy is attached hereto as Exhibit B.
Sample 1
Mortgage Pool Insurance Policy. Each of the GEMICO Mortgage Pool Insurance Policy (No. 2175) and the PMICO Mortgage Pool Insurance Policy (No. 22-402) and any related endorsements, commitments and assignments covering the Mortgage Loans and Reserve Fund Mortgage Assets as indicated on the Mortgage Loan Schedule or the Reserve Fund Mortgage Asset Schedule. Mortgage Pool Insurers: Each of GEMICO and PMICO.
Sample 1
Mortgage Pool Insurance Policy means the mortgage pool insurance policy issued by Verex Assurance, Inc. in connection with the Program or any replacement policy, provided that such replacement has an endorsement for cash advance and for attorneys fees at least as favorable as the previous policy and is in an amount, type and with the depth of coverage necessary to maintain the ratings on the Bonds, and provided, further that any insurer shall have a claims paying ability rated at least as high as the rating on Bonds maintained by Standard & Poor's Corporation and Moody's Investors Service, Inc.; provided, however, that the insurer may have a claims paying ability rated lower than the rating maintained on the Bonds by the respective rating agency, if the use of such insurer shall not adversely effect the rating on the Bonds.
Sample 1
Mortgage Pool Insurance Policy. The mortgage loan insurance policy (Policy No. R0085-01-7) issued by the Mortgage Pool Insurer with respect to the Mortgage Loans.
Sample 1
Mortgage Pool Insurance Policy means the policy of pool insurance insuring the Mortgage Loans.
Sample 1

Related to Mortgage Pool Insurance Policy

  • 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.

  • 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.

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

  • 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.

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

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Mortgage Policies has the meaning specified in Section 6.13(b)(ii).

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • 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.

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

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

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

  • 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.

  • Life Insurance Policy has the meaning given in Section 6.11.

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

  • Primary Mortgage Insurance Insurance obtained from a Primary Mortgage Insurer which insures the holder of a Mortgage Note against loss in the event the related Borrower defaults under such Mortgage Note or the related Security Instrument, including all riders and endorsements thereto.

  • Mortgage Insurer means CMHC, Genworth Financial Insurance Company Canada, or any other company that insures the payment of mortgages to mortgage lenders.

  • 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.

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

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

  • Collateral Insurance shall have the meaning set forth in Section 4.4(a).

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Mortgage Pool Assets (i) The Mortgage Loans (including all Substitute Mortgage Loans) identified on the Mortgage Loan Schedule, and all rights pertaining thereto, including the related Mortgage Notes, Mortgages, Cooperative Stock Certificates, Cooperative Leases, Security Agreements, Assignments of Proprietary Lease, and Recognition Agreements, and all Monthly Payments due after the Cut-Off Date and all other payments and distributions collected with respect to the Mortgage Loans on or after the Cut-Off Date; (ii) the Certificate Account, the Investment Account, and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iii) the Custodial Accounts for P&I and any Buydown Fund Account (to the extent of the amounts on deposit or other property therein attributable to the Mortgage Loans), and all money, instruments, investment property, and other property credited thereto, carried therein, or deposited therein (except amounts constituting the Servicing Fee); (iv) all property that secured a Mortgage Loan and that has been acquired by foreclosure or deed in lieu of foreclosure or, in the case of a Cooperative Loan, a similar form of conversion, after the Cut-Off Date; and (v) each FHA insurance policy, Primary Insurance Policy, VA guaranty, and other insurance policy related to any Mortgage Loan, and all amounts paid or payable thereunder and all proceeds thereof.

  • Environmental Insurance Policy means, with respect to any Mortgage Loan or the related Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgage Loan, Mortgaged Property or REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

  • group insurance means blanket insurance and franchise insurance and any other forms of group insurance.