Mortgage Insurance or mortgage guaranty is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer.
Private mortgage insurance is typically required when down payments are below 20%. Rates can range from 1.5% to 6% of the principal of the loan per year based upon loan factors such as the percent of the loan insured, loan-to-value, fixed or variable, and credit score.
List of Mortgage Insurance Companies
Commonwealth Mortgage Insurance Company
Home Guaranty Insurance Corporation
Investors Mortgage Insurance Company
PMI Mortgage Insurance Company
Triad Guaranty Insurance Corporation
U.S. Mortgage Insurance Corporation
GE Capital Mortgage Insurance
Integon Mortgage Guaranty Corporation
MGIC Mortgage Guaranty Insurance Corporation
Republic Mortgage Insurance Company
United Guaranty Corporation
Radian Group
Verex Assurance
Genworth Financial
CMG Mortgage Insurance Company
Mortgage Insurance Companies of America
PrivateMI.com from the Mortgage Insurance Companies of America helps consumers understand private mortgage insurance and how they can make it work for them. The Mortgage Insurance Companies of America represents the private mortgage insurance industry.
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