Mortgage Insurance Policy Premium

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Mortgage Insurance Policy Premium

The premium paid on an insurance policy that provides coverage to a lender in the event that a borrower defaults on a mortgage. This ensures that the lender does not incur a loss if the borrower is unable to repay the loan. While the lender pays the mortgage insurance premium, it generally passes on payment to the borrower, either by requiring payment in the closing costs or by rolling it into the monthly mortgage payment. See also: Mortgage Insurance.
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He told the MBA convention audience, "[I]n January, we made homeownership more affordable for responsible families by lowering mortgage insurance premiums half a percentage point.
The new FHA policy lowering the cost of FHA's mortgage insurance premiums made earlier this year has translated into an average savings of $900 a year for future homeowners.
The program reduces homeowners' monthly payments and does not require them to buy private mortgage insurance for the loan, which saves thousands of dollars in annual mortgage insurance premiums.
5% FHA Mortgage Insurance Cut - Soon afterwards, FHA announced a dramatic reduction to monthly mortgage insurance premiums for FHA loans, immediately placing them on a more competitive footing with the new 97% conforming loans.
PHOENIX -- Standing at the epicenter of the nation's recent housing crisis, President Barack Obama on Thursday promoted plans to lower some mortgage insurance premiums, a move the White House says could save homeowners $900 a year and attract 250,000 first-time buyers.
The new platform will provide as HUD s system of record for collecting mortgage insurance premiums, managing all servicing activities and paying insurance claims.
noted that the agency raised its upfront mortgage insurance premiums from 0.
This study derives the pricing formula for mortgage insurance premiums by assuming that the housing price process follows the jump diffusion process, capturing important characteristics of abnormal shock events.
The IRS recently issued temporary regulations that explain how to properly determine the deductible amount of mortgage insurance premiums (T.
The error could lead taxpayers to miss claiming their home mortgage interest, points, qualified mortgage insurance premiums, and investment interest.
The president, in a post-holiday burst, signed into law a controversial seven-year extension of the federal terrorism insurance backstop; an extension of funding for the current S-CHIP children's health program; and a three-year extension of a tax provision allowing lower- and middle-income home buyers to deduct the cost of private mortgage insurance premiums on their tax returns.
Another provision is the extension through 2010 of deducting mortgage insurance premiums as interest.
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