Under the Arizona order, PMI Mortgage Insurance and PMI Insurance may issue mortgage insurance policies
under pending commitments through the close of busi ness on Sept.
com reckons consumers waste pounds 245million a year on overpriced mortgage insurance policies
which pay home loans when borrowers are ill, injured or made redundant.
has announced a comprehensive discount program for mortgage insurance policies
ordered through its MI Online system.
Mortgage insurance policies
can offer peace of mind--but are they worth the cost?
The Government and the insurance industry have agreed to work to ensure the lifting of a "benefits trap" threat to 15 million people who have taken out loan and mortgage insurance policies
against the threat of job loss, it was announced last night.
The actions taken are based on an analysis of the exposure to claims on the mortgage insurance policies
on the underlying pool relative to each note's enhancement.
The mortgages collateralizing the series were originated by various originators and, at issuance, over 68% of the mortgages were covered by deep mortgage insurance policies
provided by Mortgage Guaranty Insurance Corp.
7 million or 37% of the outstanding portfolio is now covered by primary mortgage insurance policies
with a 2% deductible that will limit but not eliminate the fund's exposure to loan losses.
At issuance over 60% of the mortgages in series 2003-OPT1, 2003-OPT2, and 2004-OPT2 are covered by deep mortgage insurance policies
provided by Radian Guaranty Inc.
3 million or 38% of the outstanding portfolio is now covered by primary mortgage insurance policies
with a 2% deductible that will limit, but not eliminate the fund's exposure to loan losses.
67% of the loans were insured by mortgage insurance policies
issued by MGIC.
The trusts contain primary mortgage insurance policies
that insure against default a fraction of the applicable loan balances bringing down the effective loan to value ratio on these loans to 60%.