Pmi Insurance Definition

PMI is an insurance agency providing tailor-made policies for the entire motorsport community. With knowledge and expertise in specific motorsport needs, we’ve created specific coverage and policies at very competitive price levels.

If this calculation results in mortgage insurance not being placed on the loan where mortgage insurance would otherwise have been required using Fannie Mae’s standard definition, the lender must deliver the loan to Fannie Mae using the MI Absence Reason Type of "No MI Based On Original LTV" (Sort ID 429).

A form of decreasing term insurance that covers the life of a person taking out a mortgage. Death benefits provide for payment of the outstanding balance of the loan. Coverage is in decreasing term.

Private mortgage insurance (PMI). When you buy a home with a down payment of less than 20% of the purchase price, your lender may require you to buy private mortgage insurance (PMI), which protects the lender against the risk that you may fail to repay your loan.