Mortgage Insurance


Also found in: Acronyms, Wikipedia.

Mortgage Insurance

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 premium, it generally passes on payment to the borrower (and may roll it into the monthly mortgage payment). A lender may require a borrower to pay for mortgage insurance in certain high risk situations. See also: Loan-to-Value Ratio.

Mortgage Insurance

Insurance provided the lender against loss on a mortgage in the event of borrower default.

In the U.S., all FHA and VA mortgages are insured by the federal government. On other mortgages, the general practice is to require mortgage insurance from a private mortgage insurer when the loan amount exceeds 80% of property value. Borrowers pay the insurance premium in all cases. See Private Mortgage Insurance.

References in periodicals archive ?
Make sure your mortgage insurance provider will cover you during a job loss.
Gansberg joined ACGL in 2001 and most recently served as president and CEO of Arch Mortgage Insurance Co.
The cost of home mortgage insurance can be paid monthly, increasing the monthly mortgage payment, or in a lump sum, either by the borrower or the lender.
This article is limited to refinancing designed to eliminate mortgage insurance.
Radian provides private mortgage insurance, risk management products and real estate services and operates through two business segments: Mortgage Insurance through its principal mortgage insurance subsidiary Radian Guaranty Inc; and Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Entitle Direct, Green River Capital, Red Bell Real Estate and ValuAmerica.
Arch remains committed to providing mortgage risk transfer solutions across many offerings such as primary mortgage insurance through Arch Mortgage Insurance company, credit risk transfer transactions (CRT), MRT, and other forms of protection as the marketplace evolves.
The mortgage insurance provider reported a 26.5 percent slide in its full-year net profit to AUD149.2m, despite claims that the business was stabilising.
Rippert is responsible for Archs global mortgage insurance and reinsurance operations.
The total primary mortgage insurance in force as of the end of this year's second quarter grew to $177.7 billion, according to Radian.
At Arch, chairman and CEO Constantine Iordanou notes that the UGC acquisition will expand his company's mortgage insurance business.
Arch expects to retain a significant presence in North Carolina while maintaining its existing mortgage insurance operations based in California, and to combine the companies' global operations in Europe, Hong Kong and Australia.
Olson, who delivers his expert opinion on mortgage insurance and tolerances under TRID and corresponding lender disclosure responsibilities.

Full browser ?