Mortgage insurance - MI
In Real Estate terminology how do you define what "Mortgage insurance - MI" mean exactly?
It's the kind of insurance that covers the lender against some of the losses as a result of a default on a home loan.
International Level: Politics 101 / Political Participation: 0 0%
Mortgage insurers
Global Real Estate News
In the relentless search for ways to profit from the US housing recovery, mortgage insurers, too, have seen renewed interest
Source
My definition is the lender never looses. The recent bailout of certain banks is a good example of that. They claimed losses but were able to pay their Execs millions!
International Level: Senior Politician / Political Participation: 173 17.3%