PMI is an insurance policy that protects the holder against loss resulting from default on a mortgage loan.
Insurance requirements are sufficient to guarantee that the lender gets some pre-definedpercentage of the loan value back, either from foreclosure auction proceeds or fromPMI.
PMI is extra insurance that lenders require from most homebuyers who obtain loans thatare more than 80 percent of their new home's value.
PMI is an insurance policy that protects the holder against loss resulting from defaulton a mortgage loan.
PMI in Insurance1
(pi ɛm aɪ) or private mortgage insurance
abbreviation
(Insurance: General)
PMI is insurance provided by private mortgage insurers to protect lenders against loss if a borrower cannot pay repayments.
PMI insures the lender in case the buyer defaults on the loan.
PMI is insurance written by a private company protecting the mortgage lender againstloss occasioned by a mortgage default.
PMI is insurance provided by private mortgage insurers to protect lenders against lossif a borrower cannot pay repayments.
PMI in Insurance2
(pi ɛm aɪ) or private medical insurance
abbreviation
(Insurance: Medical insurance)
PMI is insurance that pays for private medical expenses if the insured becomes sick or injured.
PMI pays for the private treatment of short-term, curable illnesses known as acute conditions.
PMI plans discriminate in the kind of medical coverage they provide for certain illnessesof the brain.
PMI is insurance that pays for private medical expenses if the insured becomes sick orinjured.