Pool Insurance Policy

Example Definitions of "Pool Insurance Policy"
Pool Insurance Policy. A premium-paid policy of mortgage loan pool insurance issued by an insurance company having a AAA or AA rating from Standard & Poor's (a division of The McGraw-Hill Companies, Inc.) or Fitch Ratings, or Aaa or Aa rating from Moody's Investors Service, Inc. for claims-paying ability, in form and substance satisfactory to the Seller and insuring the holder of a pool of Mortgage Loans against all or a portion of the loss sustained by reason of a default by a Customer in the payment of principal... and interest thereon. View More
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