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What the Heck Is PMI? » Mortgage Masters Group

13.4% plummet sales of new homes in U.S.

PMI Mortgage Insurance Co. provides residential mortgage insurance coverage in the United States. The company offers policy servicing, e-PMI servicing, loss mitigation, and claims and default.

Mortgage Masters of Indiana, Inc. is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements.

An emerging-growth nonbank consumer lender and market leader offering home mortgage, refinance and home equity loan products in all 50 states.

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Cancellation of Private Mortgage Insurance If you put less than 20% down on a home mortgage, lenders often require you to have Private Mortgage Insurance (PMI). PMI protects the lender if you default on the loan.

The PMI Group is a holding company whose primary subsidiary is the PMI Mortgage Insurance Co. (PMI).. PMI has a 50% equity ownership in CMG mortgage insurance company, founded in 1994 as a JV with CUNA Mutual Group, and CMG Mortgage Assurance Company (collectively CMG MI), a provider of private mortgage insurance to the credit union industry.

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The Effect of PMI Insurance on Help Offered to Homeowners in Foreclosure. by Anna Assad . When you bought your home, your mortgage lender may have required private mortgage insurance on your loan. PMI is insurance against your default on your home loan, with the lender as the beneficiary.

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Private Mortgage Insurance (PMI) is a necessary add-on faced by some buyers required to carry the added protection in order to obtain financing. Well-qualified applicants with substantial down payments are typically exempt from the requirement, which ultimately protects lenders from default.

Mortgage Masters Group We are Doug & Sandi Kent. Please take the time to visit our website at www.mortgagemastersgroup.com, where we guarantee you’ll find plenty of helpful information to assist you in purchasing or building your new home, or refinancing your current mortgage.

Now for the good news you may not know. For loans made after July 1999, lenders are required by federal law to automatically cancel Private Mortgage Insurance (PMI) when the loan balance falls below 78 percent of your purchase price – not when you achieve 22 percent equity, which will happen much more quickly with rising property values.