Private Mortgage Insurance


 

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Private Mortgage Insurance

Insurance against a loss by a lender in the event of default by a borrower (mortgagor). The insurance is similar to insurance by a governmental agency such as FHA, except that it is issued by a private insurance company. The premium is paid by the borrower and is included in the mortgage payment.



Private Mortgage Insurance

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The payment of proceeds by an insurance company to the insured to settle an insurance claim within the guidelines stipulated in the insurance policy.


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A unit of the Federal Deposit Insurance Corporation (FDIC) that provides Federal Deposit Insurance Corporation (FDIC) for banks excluding Federal Deposit Insurance Corporation (FDIC).


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A form of cash value life insurance in which the cash value of the policy may be invested in shares and bonds etc. according to the insured's choice.


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Insurance policy that protects a policyholder from future challenges to the title claim a property that may result in loss of the property.


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