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Mortgage guaranty insurance, however, doesn't cover losses from hazards, such as floods, storms, earthquakes, fire or hurricanes, Zimmerman said.
Fannie Mae and Freddie Mac, by far the largest secondary market purchasers of residential mortgage loans, are required by their charters to have mortgage guaranty insurance on all loans they acquire with a loan-to-value ratio of 80% or more.
When Lori Allen of Reeders, Pennsylvania, refinanced her home mortgage in January, it helped solve a number of cash flow problems.
Allen refinanced the original $154,000 30-year, fixed-rate mortgage at 10.
In this article we revisit the issue of who bears the credit risk associated with mortgage lending using 1995 data and refined estimates of the amount of mortgage credit risk borne by market participants.
Institutions' expected dollar losses are determined primarily by the distribution of loan-to-value ratios within their mortgage portfolios: Higher ratios are associated with higher mortgage default probabilities and loss severity rates.
Appendix B: FASB Current Text, Mortgage Banking Activities/49
65, Accounting for Certain Mortgage Banking Activities, required separate capitalization of the cost of the rights to service mortgage loans for others when those rights were acquired through a purchase transaction but prohibited separate capitalization when those rights were acquired through loan origination activities.
CRM has a long history as a mortgage provider in South Carolina's Upstate, Midlands, and Low Country.
1 million first mortgage and a $500,000 line of credit for a co-op on 116th St.
Many of those who believe it is see parallels between recent developments in the insurance industry and the history of another financial-services industry, mortgage banking.
The credit risk associated with a mortgage is accommodated through a variety of financial arrangements and institutions.