PMI Advance definition
PMI Advance. As defined in the related Servicing Agreement, if applicable.
PMI Advance. As defined in Section 17.7.1.
Examples of PMI Advance in a sentence
In the event that the Servicer has recovered all Liquidation Proceeds with respect to a Mortgage Loan other than any amounts as to which a Primary Mortgage Insurance claim has been made, the Servicer shall have the option, but not the obligation, to advance the amount of such claim (a "PMI Advance").
Section 17.7 PMI Advances 17.7.1. PMI Advance Option..........................................